Risk Model Validation, Senior Associate

| Chicago
Avant is revolutionizing the world of lending by lowering the costs and barriers of borrowing for everyday people. At our core, we are a technology company that builds advanced platforms and uses custom analytics. Today, we help underserved consumers, the majority of whom get fast funding on our online platform without having to talk anyone. Tomorrow we plan to use our world class technology and underwriting capabilities to launch new products and bank partnerships that improve people’s financial lives.
Job Description
At Avant, the Risk Model Validation Senior Associate serves as a member of a key strategic team that is responsible for a very wide range of quantitative initiatives that include valuation, risk ratings, loss forecasting, risk mitigation. This role is part of the Credit Review and Risk Identification team. 

What you do at Avant:

  • Conduct independent model validation of relevant models that are used in Avant
  • Perform independent conceptual and theoretical review, benchmarking, independent implementation of the models employed
  • Quantifying model risk and reporting of the findings
  • Close interaction and collaboration with the model developers in the First Line of Defense
  • Work with model developers and risk managers with day today model support and review
  • Create a body of knowledge of local and global regulatory requirements for model risk and be aware of market environment
  • Independently perform advanced quantitative analyses and model development to drive decision making by running independent quantitative review and challenge strategies
  • Analyze and develop new model frameworks by supporting the line of business
  • Refine, monitor, and review existing models
  • Conduct ongoing communication with model owners and model developers during the course of the review

Why you are a fit for Avant:

  • Masters degree in Statistics, Mathematics or Quantitative Finance
  • 5 years quantitative experience in building machine learning models in bank or financial services industry
  • 2 years in model validation
  • Experience in regulatory review would be preferred
  • Working experience of building or working with financial modeling in risk management in financial services industry
  • Excellent mathematical and statistical ability to solve financial problems that require a quantitative approach
  • Excellent knowledge of machine learning techniques 
  • Coding skills in a computer/statistical programming language (e.g. Python, R, C++...)
  • Good communication skills with the ability to work with front office, model developers and other internal risk management non-quant staff

Why Avant is a fit for you: At Avant, we believe our values make a difference:We value, support, and help each other growWe are committed to active inclusion and diversityWe are transparent and believe the best idea winsWe succeed when our customers succeedWe get sh!t done… responsiblyAnd we keep it fun! We believe that ideas are more important than titles, everything is more fun together, everyone drives change, and everyone is an owner. While we believe the perks and benefits that we offer are terrific, nothing excites us more than having the ability to collaborate with intelligent, highly-motivated and talented people on challenging problems as we work to change the face of online lending.

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Location

Located on Chicago's scenic Riverwalk. It’s home to nearby trendy restaurants, a thriving startup community, and public transportation.
222 N. LaSalle Street, Chicago, IL 60601

Perks of working here

401(K)
Dental
Health Benefits
Stocked Kitchen
Unlimited PTO
Vision
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