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Associate, Quantitative Risk Model Development - Morristown, NJ

Job Information

ID :
#36800751
# of Positions :
1
Minimum Education Level :
Unspecified
Experience Required :
none
Duration :
Full Time Regular
Shift :
First Shift (Day)
Hours per week:
40

Job Description

 

Overview

CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about .

Responsibilities

The Quantitative Strategies team (QS) delivers model development, research and analysis to support CIT Business Capital in 3 objectives:

Building and supporting models for Commercial Banking
Building and supporting models for regulatory requirements
Build tools & process enhancements and identifying opportunities to automate parts of model development and contribute to infrastructure, tool, or process improvement to enable efficiencies on the team
Ad-hoc quantitative support for other areas in the organization
The role will primarily focus on supporting model development and Big Data/Machine Learning initiatives

Qualifications

Advanced degree (Masters or PhD) required in Quantitative Finance, Applied Mathematics, Statistics, Engineering, or other quantitative-oriented disciplines
3+ years of experience developing/validating statistical and financial models
Experience successfully collaborating with others in a change driven environment, particularly technology, internal controls, and project management teams
Demonstrated ability to effectively organize tasks, manage time, set priorities and deadlines
Strong quantitative skills and analytical problem-solving ability required
Functional with database development, maintenance, and extraction of data
Advanced programming skills in one of the following - R, SAS, MATLAB or Python
Knowledge of Model Risk Management Regulatory Guidance (SR 11-7/OCC 2011-12)
Experience in CECL/DFAST environment is desirable
Excellent written and verbal communication and interpersonal skills, including the ability to reach the best possible results without compromising the work quality
Understand technical issues in statistical modeling, including theoretical assumptions and methodology limitations, data pitfalls, model sensitivities, simulation approaches or scenario analyses for low-default portfolios, and applying these skills toward providing robust solutions to business problems
Team-work oriented and strong presentation skills
Results oriented

Company Information

Name :
CIT Bank NA
Description :
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65
billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal
Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets.
It provides financing, leasing and advisory services principally to middle market companies
across a wide variety of industries primarily in North America, and equipment financing and
leasing solutions to the transportation sector. It also offers products and services to
consumers through its Internet bank franchise and a network of retail branches in Southern
California, operating as OneWest Bank, a division of CIT Bank, N.A. cit.com
Type :
Direct Employer
Address :
1 CIT Drive
Livingston, NJ 07039

Application Information

Online :
Job Posting Entered On :
10/10/2021
Job Posting Expires On :
11/9/2021