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Credit Risk Modeling Jobs in New Jersey (NOW HIRING)

Ra

SAS Analytics & Modeling- Banking

Jersey City, NJ

$100K/yr

You've experience working in Banking, Credit Cards, Marketing Analytics, Credit Risk Modeling. * You've experience working with Machine Learning techniques (Support Vector Machines, Genetic ...

First Citizens Bank

Credit Admin Advisor

Morristown, NJ · Hybrid

$135K - $145K/yr

Risk Management & Model Governance * Partner with Credit Risk Management, Model Development, MRM, and Technology teams. * Support implementation, governance, monitoring, validation, and enhancement ...

First Citizens Bank

Credit Admin Advisor

Morristown, NJ · Hybrid

$135K - $145K/yr

Risk Management & Model Governance * Partner with Credit Risk Management, Model Development, MRM, and Technology teams. * Support implementation, governance, monitoring, validation, and enhancement ...

Topaz HR

Chief Credit Officer

Toms River, NJ · On-site

This executive-level role will be responsible for credit strategy, risk oversight, underwriting ... Experience improving underwriting systems, workflows, or credit models preferred * Excellent ...

M&T Bank

Commercial Credit Analyst

Paramus, NJ · On-site

... risk ratings for a portfolio of commercial credits. * Spread financial statements and prepare financial / projection models designed to sensitize various conditions impacting the proposed transaction.

M&T Bank

Commercial Credit Analyst

Paramus, NJ · On-site

... risk ratings for a portfolio of commercial credits. * Spread financial statements and prepare financial / projection models designed to sensitize various conditions impacting the proposed transaction.

M&T Bank

Commercial Credit Analyst

Paramus, NJ · On-site

... risk ratings for a portfolio of commercial credits. * Spread financial statements and prepare financial / projection models designed to sensitize various conditions impacting the proposed transaction.

Td

Risk Manager I (US)

Mount Laurel, NJ · On-site

$91K - $136K/yr

... models throughout origination process and pricing strategy ... Validate and enhance strategy structure such as Credit Tier to meet business goals; quantify ...

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Credit Risk Modeling information

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$27.8K

$106.1K

$199.8K

How much do credit risk modeling jobs pay per year?

As of Aug 22, 2026, the average yearly pay for credit risk modeling in New Jersey is $106,056.00, according to ZipRecruiter salary data. Most workers in this role earn between $71,332.00 and $127,030.00 per year, depending on experience, location, and employer.

What is credit risk modeling?

A Credit Risk Modeling job involves developing statistical models and analytical techniques to assess the credit risk of individuals or businesses. Professionals in this role analyze financial data, borrower behavior, and economic trends to predict the likelihood of default and assist in making informed lending decisions. They use techniques such as logistic regression, machine learning, and Monte Carlo simulations to quantify risk. Credit risk modelers work closely with risk management teams, regulators, and financial institutions to ensure compliance with industry standards. Their insights help optimize loan approvals, set credit limits, and manage overall portfolio risk.

What are the typical daily responsibilities in credit risk modeling?

Professionals in Credit Risk Modeling spend their days developing and validating statistical models to assess the likelihood of credit defaults, analyzing large data sets to identify risk factors, and compiling detailed reports on their findings. They collaborate closely with data scientists, underwriters, credit analysts, and sometimes regulatory teams to ensure models meet business and compliance standards. Additionally, they often participate in meetings to discuss portfolio performance or proposed policy changes. This role involves a balance of technical analysis, documentation, and cross-functional communication, making it dynamic and integral to financial decision-making.

What are the key skills and qualifications needed to thrive in credit risk modeling?

To thrive in Credit Risk Modeling, you need strong analytical skills, proficiency in statistics and finance, and typically a degree in mathematics, statistics, economics, or a related field. Familiarity with programming languages like Python, R, or SAS, as well as experience using statistical modeling software and risk management platforms, are highly valued. Excellent communication, critical thinking, and collaborative abilities help translate complex data insights for stakeholders and work effectively within cross-functional teams. These skills are crucial for designing accurate risk models that inform sound lending decisions and maintain financial stability for organizations.

What are the most commonly searched types of Credit Risk Modeling jobs in New Jersey?

The most popular types of Credit Risk Modeling jobs in New Jersey are:

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For Credit Risk Modeling jobs in New Jersey, the most frequently searched job titles are:

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Credit Risk Modeling jobs near you
Infographic showing various Credit Risk Modeling job openings in New Jersey as of August 2026, with employment types broken down into 85% Full Time, and 15% Part Time. Highlights an 94% Physical, 1% Hybrid, and 5% Remote job distribution, with an average salary of $106,056 per year, or $51 per hour.

SVP, Chief Credit Risk Officer

Cross River

Fort Lee, NJ • On-site

Full-time

Medical, Retirement

Re-posted 11 days ago

Job description

Who We Are
Cross River builds the infrastructure behind the world's most innovative financial products. Our technology and capital solutions power payments, cards, lending, and digital asset capabilities that move money safely, instantly, and inclusively - trusted by leading fintechs, enterprises, and disruptors across the globe.
Our mission is simple: to build the financial infrastructure that expands access and opportunity for all. Guided by a culture of collaboration, curiosity, and purpose, Cross River has been named one of American Banker's Best Places to Work in Fintech year after year. Whether you're designing code, solving regulatory puzzles, or developing strategy, you'll join a team where innovation and integrity drive everything we do - and where your work helps shape the future of finance.
What We're Looking For
Cross River is seeking a seasoned and strategic Chief Credit Risk Officer to lead and oversee all aspects of credit risk management across the Bank including Fintech Banking, Commercial Banking, and Principal Finance Group. Reporting to the Chief Risk and Compliance Officer, this leader will be responsible for enhancing and maintaining the credit risk framework, setting risk appetite, and ensuring sound credit decision-making as we scale our lending products and partnerships.
Responsibilities:
Strategic Leadership
  • Define and execute the enterprise-wide credit risk strategy aligned with the bank's growth objectives and regulatory requirements
  • Enhance and maintain the credit risk appetite framework, policies, and governance structure
  • Advise the Chief Risk and Compliance Officer, senior leadership, and the Board on credit risk matters
  • Chair or co-chair the Management Credit Committee, Allowance Committee and participate in relevant Board committees

Credit Risk Management
  • Oversee underwriting standards, credit policies, and portfolio management across all lending verticals (e.g., payments, marketplace lending, BaaS partnerships, commercial lending (CRE, SBA, C&I), and structured finance)
  • Provide oversight for CECL, and market to market valuation reserve including reviewing model assumptions and outputs, need for overlay thereby ensuring adequate reserves
  • Establish, enhance, and maintain concentration limits, stress testing frameworks, and early warning systems
  • Provide effective challenge through review of Commercial Banking (CRE, C&I, and SBA), and Structured Finance transactions
  • Oversee settlement risk by determining limits, and reserves posed by Payment products including ACH, Acquiring, and other payment funding models
  • Lead portfolio analytics and reporting, including identifying, trends and potential areas of concern in the portfolio through single name analysis, pool level portfolio analysis, vintage analysis, and risk-adjusted return metrics

Technology & Innovation
  • Partner with technology, operations, and product teams to embed credit risk controls into automated lending platforms and APIs
  • Leverage Agentic AI technology to streamline and enhance credit processes to increase productivity and scalability
  • Ensure best in class risk identification tools which may include vendor developed, internally developed, AI/ML are developed to enhance credit processes

Regulatory & Compliance
  • Ensure compliance with all applicable regulations (OCC, FDIC, Federal Reserve, state banking laws, fair lending, etc.)
  • Support relationships with regulators and lead credit risk-related examinations and audits
  • Oversee model risk management (MRM) in accordance with SR 26-2/11-7 guidance
  • Collaborate closely with the compliance function under the Chief Risk and Compliance Officer to ensure alignment of credit and compliance objectives

Team Development
  • Build, mentor, and lead a high-performing credit risk organization
  • Foster a culture of data-driven decision-making, accountability, and continuous learning
  • Attract top talent across credit analytics, portfolio management, and risk operations

Reporting Structure:
  • Reports to: Chief Risk and Compliance Officer
  • Direct Reports: Credit Risk team leads, Portfolio Managers, Senior Credit Analysts

Qualifications:
Required
  • 15+ years of progressive experience in credit risk management within banking, fintech, or financial services
  • Deep expertise in consumer and/or commercial credit underwriting, portfolio management, and loss mitigation
  • Strong understanding of regulatory frameworks governing bank lending and risk management
  • Experience with models, and model related processes
  • Experience with CECL/Allowance processes
  • Experience with regulators (OCC/FDIC/Fed), and External Auditors/Rating Agencies
  • Proven leadership with strong communication skills across all levels of the organization
  • Bachelor's degree in Finance, Economics, Mathematics, or related field

Preferred
  • Advanced degree (MBA, Master's, or PhD) in a quantitative or business discipline
  • Prior experience at a fintech bank, digital lender, or BaaS (Banking-as-a-Service) provider
  • Familiarity with marketplace/partner lending models and embedded finance
  • Experience navigating rapid growth environments while maintaining sound risk controls
  • Professional certifications (FRM, PRM, CFA) are a plus

Competencies:
Competency
Description
Strategic Thinking
Ability to balance growth ambitions with prudent risk management
Data-Driven Leadership
Comfort with advanced analytics, AI/ML, and technology-enabled risk solutions
Regulatory Acumen
Deep understanding of the evolving regulatory landscape for fintech banks
Stakeholder Management
Effective communicator across Board, regulators, partners, and internal teams
Adaptability
Thrives in fast-paced, innovative environments with evolving product lines
What We Offer:
  • Competitive compensation package (base + bonus + equity)
  • Opportunity to shape credit risk strategy at the intersection of banking and technology
  • Collaborative, innovation-driven culture
  • Comprehensive benefits including health, retirement, and professional development

#LI-JJ1 #LI-Hybrid #LI-Onsite
Salary Range: $280,000.00 - $350,000.00
Cross 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. We will only contact you with job related information.

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