Associate - Credit Risk quantitative analyst - Financial Risk

4 days left

Employer
Nuveen Investments
Location
Mumbai
Posted
Mar 29, 2024
Closes
Apr 22, 2024
Ref
4628046104
Role
Analyst
Level
Associate
Work Mode
Work from office
Hours
Full Time
Organization Type
Academia, Corporate
The Quantitative Risk Management Analyst participates in developing and implementing global risk quantitative and analytic models to support efforts to minimize risk. Working under limited supervision, the Quantitative Risk Management Analyst provides risk management support for the business in key risk identification, measurement, and aggregation; and the understanding and management of risk through appropriate practices and processes
Key Responsibilities and Duties
- Assists with developing and/or reviewing models to support identification and review of risk issues, risk metrics and risk exposure.
- Applies established risk metrics and risk tolerance guidelines and policies.
- Develops processes for effective and efficient reporting and data analysis to minimize risk exposure.
- Ensures data inputs to models are valid and appropriate.
- Supports the risk management system and regularly communicates material risk issues, risk metrics, and risk exposure resolutions.
- Contributes to explanations of quantitative risk management policies and procedures to ensure timely and transparent communication.
Educational Requirements
- University (Degree) Preferred
Work Experience
- 3+ Years Required; 5+ Years Preferred
Physical Requirements
- Physical Requirements: Sedentary Work
Career Level
7IC
Position Summary:
The primary purpose of the role is to utilize tools and metrics for statistical credit risk analysis to help build solutions for the management of credit risk, conduct stress testing scenarios to assess the resilience of the investment portfolio under adverse economic conditions and provide assistance in maintaining, calibrating and improving the code of existing models.
Key Duties & Responsibilities :
- Work independently & under general supervision utilizing tools and metrics for statistical credit risk analysis (including among others estimation of PD, LGD, EAD and internal risk rating migrations) to help build solutions for the management of credit risk
- Provide assistance for data assurance, data aggregation, and analysis in support of both existing and the development of credit risk models
- Analyze large datasets to identify trends, patterns, and correlations that impact credit risk, and use this analysis to inform model development
- Conduct stress testing scenarios to assess the resilience of the GAO investment portfolio under adverse economic conditions
- Provide assistance in maintaining, calibrating and improving the code of existing models
- Develop data tables within existing databases that allow models to run more efficiently.
- Recommend technology-based tools and product enhancement to perform credit and statistical data analysis more accurately and efficiently.
Area of Impact -
The immediate positive impact will be on the Credit Ratings team. However, there will significant secondary positive impacts which will flow to the whole organization through the work that is done by the team, namely dynamic credit risk oversight and asset allocation for the GAO, the measurement of potential capital at risk and contribution to the oversight of TIAA's Asset Liability Management (ALM), Interest Rate Risk and Credit Risk Management functions.
Problem Solving :
The nature of the role requires the incumbent to posses strong analytical and credit quantitative skills with a proven ability to develop and implement quantitative models to assess and manage credit risk .
Functional Knowledge:
- In-depth knowledge and proficiency in quantitative analytics and statistical modeling with the ability to provide examples of such work and describe in detail their choice of modeling techniques
- Coding proficiency and experience in Python, SQL, R, MATLAB
- Experience with the analytics of provide credit
- Financial market knowledge - knowledge of equity markets, bond markets, credit spreads and ratings
- Knowledge of fixed income pricing and equity pricing analytics. They should understand the concepts of duration and convexity and demonstrate or know how to code an algorithm to calculate these measures.
Business or Industry Expertise:
- General understanding of how asset management firms work
- Experience with financial markets and have an understanding of the fixed income and equity asset classes.
Interactions / Interpersonal Skills:
- Ability to work well with others, build and strengthen partnerships, effectively interact with various stakeholders, and the willingness to take individual initiative
- Ability to work with deadlines and incomplete information
- Ability to communicate clearly over Zoom
Required Education:
A Master's or Ph.D. in quantitative finance, mathematics, statistics, or a related field
Specialization in Statistics, Finance, Mathematics, Engineering or the Physical Sciences
Preferred Education:
FRM, CFA, Master's degree in Applied Mathematics / Statistics / Computer Science/ Physics / Engineering, Quant Finance or related field. Knowledge of machine learning techniques and their application in credit risk modeling
Required Experience:
5-10 yearsQuantitative Analytics, Financial Risk Management, coding, model building, database management
Preferred Experience:
5 Years Financial Risk related experience with at least 3-5 years current / ongoing credit quant experience
Skills and Abilities:
- Understanding of Financial risk including credit risk, market risk, investment risk and valuation, and model risk, amongst others
- Previous experience working in either Banking/Investment Banking, Credit Rating Agency, Asset Management and/or Insurance firm desired
- Proficiency in Python, SQL, R, MATLAB, MS tools, or equivalent tools
- Experience/proficiency with credit risk vendor models such as Moody's EDF-X, CMM, RiskCalc or MPA
- Knowledge of Capital Markets
- Proficiency in Mathematics and Statistics
- Experience in loss forecasting (PD, LGD, EAD, etc), risk modeling, credit risk management and/or stress testing at a Banking or Financial Serivces firm preferred
- Ability to demonstrate strong problem solving, analytical mindset, communication, and people management skills.
- Good knowledge of Technology, Risk Tools
- Good knowledge on Risk / Reward analysis
Preferred Licenses/Certifications:
Certified in any(Preferred) :
- FRM certified from GARP
- Chartered Financial Analyst (CFA)
- Sustainability and Climate Risk certified from GARP
Related Skills
Advanced Mathematics, Communication, Critical Thinking, Data Analysis, Financial Acumen, Financial Modeling, Market/Industry Dynamics, Model Validation, Prioritizes Effectively, Problem Solving, Programming, Quantitative Analysis, Statistics
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Company Overview
TIAA Global Capabilities was established in 2016 with a mission to tap into a vast pool of talent, reduce risk by insourcing key platforms and processes, as well as contribute to innovation with a focus on enhancing our technology stack. TIAA Global Capabilities is focused on building a scalable and sustainable organization , with a focus on technology , operations and expanding into the shared services business space.
Working closely with our U.S. colleagues and other partners, our goal is to reduce risk, improve the efficiency of our technology and processes and develop innovative ideas to increase throughput and productivity.
We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.
Accessibility Support
TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities.
If you are a U.S. applicant and desire a reasonable accommodation to complete a job application please use one of the below options to contact our accessibility support team:
Phone: (800) 842-2755
Email: accessibility.support@tiaa.org
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