Who We Are
Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our comprehensive suite of innovative and scalable embedded payments, cards, and lending products deliver financial services for millions of businesses and consumers around the globe. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. We are on a mission to build the infrastructure that propels access, inclusion, and the democratization of financial services.
While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 6 years. The reason for this success is simple – our nimble and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation, and we invite passionate, collaborative, and motivated high performers to join our expanding team.
What We're Looking For
We’re looking for a mature, organized and self-driven individual to join our Quantitative Strategies Group to lead Business Risk Unit. The Quantitative Strategies Group (QSG) is a front office quant organization responsible for researching and developing cutting edge mathematical models, tools and strategies.
What You’ll Do
- As the leader of Business Risk Unit, you will be the Model Owner of all models built within QSG. You will also lead all work streams related to model production and reporting, specifically processes involving CECL, Capital Stress Testing, Fair Valuation and Financial Planning.
- Work closely with model developers and model owners to make sure all models are in compliance.
- Responsible for authoring high quality model documentation, designing and executing model monitoring plans, maintaining model inventory and calendar for different compliance activities like validation, finding resolutions, audit etc.
- As primary touchpoint for Model Risk Management, lead all communications for the Quant group.
- Work with MRM to formulate common understanding and interpretation of regulatory guidance as they relate to models not limited to but including SR 1107, Interagency guidance etc.
- Act as primary touchpoint for Credit Risk Organization, Financial Governance, Internal Audit and External Audit functions and lead the group through audit exams. .
- Build ad-hoc analytics and presentations as required thereby participating in building, enhancing and delivering credit regulatory analytics solution needed for ALLL, CECL, and Stress Testing
Education and Experience:
- Strong quantitative & analytical skills: The role requires a strong quantitative background (PhD /Master's Degree or equivalent) in Statistics, Mathematics, Operations Research, Physics, or a quantitative science
- Minimum 5+ years prior experience in Model Development or Model Validation. Front office Experience is essential. Understanding of capital markets, securitizations, consumer credit products is a plus. Experience with Credit risk models in a Model Risk Management function or a Model Risk Oversight function is a definite plus.
- Strong communication skills: Verbal and Written, as well as excellent negotiation and diplomacy skills required. Risk and control mindset required.
- Broad knowledge of relevant Modeling frameworks and standards. Sound project management /organizational skills: flexible, adaptable to shifting priorities to achieve the most effective result and able to work in a fast-paced, results driven environment is required.
#LI-JJ1 #LI-Hybrid #LI-OnsiteSalary Range: $180,000.00 - $220,000.00Cross River is an Equal Opportunity Employer. Cross River does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.By submitting your application, you give Cross River permission to email, call, or text you using the contact details provided.
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