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Internship Quantitative Risk Modeler Jobs in Massachusetts

HarbourVest

Quantitative Developer

Boston, MA · Hybrid

Seated within our Quantitative Investment Science group, the Associate, Quantitative Developer ... Ability to explain model behavior, data limitations, quality tradeoffs, and operational risk to ...

Verisk

Americas Analyst (Risk Insight)

Boston, MA

The team combines these quantitative tools with unrivalled country expertise to deliver unique ... modeling solutions to help individuals, businesses, and society become more resilient to ...

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Internship Quantitative Risk Modeler information

What is the difference between Internship Quantitative Risk Modeler vs Quantitative Risk Analyst?

AspectInternship Quantitative Risk ModelerQuantitative Risk Analyst
CredentialsTypically pursuing or recent graduate in finance, mathematics, or related fieldsOften requires a degree in finance, economics, or quantitative disciplines; certifications like FRM or CFA are common
Work EnvironmentInternship setting, learning-focused, supervised by senior staffFull-time professional role, responsible for risk assessment and modeling
Employer & Industry UsageUsed in banks, asset management firms, and financial institutions for training and entry-level rolesCommon in financial services, banking, and investment firms for ongoing risk management

The Internship Quantitative Risk Modeler is an entry-level, learning-focused role typically held by students or recent graduates, whereas the Quantitative Risk Analyst is a full-time professional responsible for analyzing and managing risk using quantitative models. The internship provides foundational experience, while the analyst role involves ongoing risk assessment and decision-making.

What are the most commonly searched types of Quantitative Risk Modeler jobs in Massachusetts? The most popular types of Quantitative Risk Modeler jobs in Massachusetts are:
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What job categories do people searching Internship Quantitative Risk Modeler jobs in Massachusetts look for? The top searched job categories for Internship Quantitative Risk Modeler jobs in Massachusetts are:
Internship Quantitative Risk Modeler jobs near you
Commercial Scorecard Quantitative Manager

Commercial Scorecard Quantitative Manager

M&T Bank

Boston, MA • On-site

Full-time

This job post has expired today. Applications are no longer accepted.

M&T Bank rating

7.8

Company rating: 7.8 out of 10

Based on 180 frontline employees who took The Breakroom Quiz

67th of 141 rated banks

Job description

Location: Available at designated bank hub locations in Buffalo, NY; Wilmington, DE; Bridgeport, CT; or Boston, MA
Overview:
Responsible for the long-term strategic design, implementation, maintenance, testing and use of Commercial Risk Rating Models and Loss forecasting models utilized for credit risk management or other enterprise initiatives and sets the strategic direction for the process of continuous enhancements. Particular emphasis is the Bank's commercial Probability of Default (PD) and Loss Given Default (LGD) models. Act as a key contact for outside parties (bank examiners, auditors) on M&T's Commercial Credit Risk Rating structure and process. Also, responsible for keeping up to date with industry's best practice and changes in the field of commercial risk ratings.
Primary Responsibilities:
  • Development and Maintenance of the framework for Commercial PD and LGD credit risk models for the institution.
  • Development and Maintenance of assigned Commercial Loss Forecasting and Stress Testing models for the institution.
  • Ensure compliance of models to all regulations. Monitor and report on performance of all models.
  • Determine when redevelopment or recalibration is needed. Conduct internal validation and back testing of all models.
  • Partner with Centralized Technology to ensued that Rating models are fully integrated into the appropriate platform which allows seamless delivery to the end user while providing for a stable and robust data capture process.
  • Partner with MROC to communicate all models, ensure independent validation is scheduled, present models to committee, communicate to business lines, legal, compliance, risk committee, and all interested parties.
  • Interface with a wide range of internal customers, including executive management, to explain the benefits, limitations, assumptions and requirements for proposed credit risk models, and scorecards, solutions and strategies to implement these models as applicable.
  • Manage the output of Quantitative Analysts and Modelers and track the development of their statistical modeling acumen in areas such as segmentation analysis, logistic regression, decision trees and multivariate analysis.
  • Develop and maintain a regimen of training to all users of the Rating scorecards to ensure that accurate and appropriate ratings are assigned. Consult with internal businesses with the ongoing management and validation of their scores and score-based strategies. Display organizational subject matter expertise on Rating scorecard deployment.
  • Specify and model the relationship between appropriate macroeconomic factors and credit risk outcomes such as losses and delinquencies. Develop strategies and techniques for modeling commercial credit risk in areas new to the organization. Analyze and present findings to Senior Management.
  • Define, develop and deploy best credit risk practices and infrastructure bank wide.
    Execute ad hoc analysis or projects assigned by the Credit Risk Manager.
    Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
  • Promote an environment that supports belonging and reflects the M&T Bank brand.
    Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
  • Complete other related duties as assigned.
  • Exercise usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, performance management and terminations.

Scope of Responsibilities:
The Commercial Scorecard Management group is a critical component of the Credit Risk Department. Risk Ratings are utilized in many areas of the bank and are a key driver of many enterprise level decisions such as the level of the Allowance for Loan and Lease losses, determining levels of Approval Authority and Asset Quality Metrics. This is mission critical information that is utilized internally across the organization and externally by the Bank Examiners, Outside Accountants, rating agencies and the investment community. The ratings are also a key input into the loss forecasting models utilized for the CCAR process. Loss Forecasting models are used in Capital Plan submissions that are a critical component of sound Bank management and are subject to regulatory scrutiny under DFAST regulations.
This role is highly technical in nature and requires demonstrated attention to detail execution and follow up on multiple initiatives within the Credit Risk department. The ability to identify, analyze, rationalize and communicate complex business problems and recommend solutions is a key factor of success in this role. Success in this role requires the ability to use analytics in a collaborative effort across multiple functions and products to derive optimum solutions to business problems.
A strong understanding of Commercial Loan underwriting, loan structuring and credit analysis is critical to the success of an incumbent in this role.
Supervisory/ Managerial Responsibilities:
Direct management responsibility for 3- 10 Quantitative Credit Risk Management Analysts and Modelers. May have direct management responsibility for other Quantitative Risk Managers
Education and Experience Required:
Bachelor's degree and a minimum of 7 years' relevant work experience, or in lieu of a degree, a combined minimum of 11 years' higher education and/or work experience, including a minimum of 7 years' relevant work experience
Quantitative skills including strong analytical, financial, statistical and model development skills.
Excellent Verbal and written communication, cross functional collaboration and management skills
Ability to communicate complicated statistical concepts to a broad audience in a non-technical manner.
Education and Experience Preferred:
PhD in Mathematics, Statistics, Quantitative Analysis or another technical discipline
Knowledge of Commercial Loan analysis techniques is strongly preferred
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $143,300.00 - $238,900.00 Annual (USD). The successful candidate's particular combination of knowledge, skills, and experience will inform their specific compensation.
Location
Boston, Massachusetts, United States of America

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