Citizens Bank Quantitative Analyst in Boston, Massachusetts
This role will work with the Comprehensive Capital Analysis and Review (CCAR) initiatives, Citizens Bank is currently building its full suite of Pre-Provision Net Revenue (PPNR) statistically-based forecasting models. The models will cover such areas as fees, loan and deposit balances, origination balances, prepayments and yields.
These models/approaches are used throughout the bank to assist the business line and finance in estimating volume and revenue values over a two to three year timeframe for internal and CCAR purposes.. The group is developing new models as well as redeveloping models showing weaknesses. The short-term goal is to adequately cover all capital sensitive areas of the balance sheet and income statement. A longer term goal will be enhancing the models and providing more granular insight to various areas of the bank.
To that end, we are looking for a highly qualified candidate to join as a Model Developer to contribute to this exciting opportunity.
Primary responsibilities include:
Assist in the design, testing, approval and implementation of the models which are assigned to the modeler
Partner with a mentor to get up to speed on Citizen’s functions and modeling functions.
Under the guidance of his/her manager, responsible for developing and executing all aspects of consumer and commercial PPNR models and for ensuring full compliance with regulatory and accounting requirements, while providing credible direction to support business decisions
Consult with various business units, regulatory, and controllership staff to understand their analytics needs. Consult with IT and data teams to determine who can provide data for the analyses, as well as analogous staff around Citizens Financial Group to ensure consistency of our approach with established standards
Contribute to the efforts of the model build process through the various approval committees throughout the bank such as business approval committee, model risk committee, capital planning committee, etc…
Engage with internal and external stakeholders, participate in the facilitation discussion, assist to drive agreement on model development approach, and ultimately communicate quantitative methods and results to various stakeholders, including related business units, and Citizens model governance and approving committees
Lead best practice modeling techniques, ensure comprehensive documentation and maintain best of class model monitoring and outcome analysis
Partner with internal IT and vendor teams to develop and upgrade platforms and contribute to the integration of the models with various other loan systems and data marts, where necessary
Coordinate the development, maintenance and enhancement of econometric expertise, stress testing methodologies
Conduct quantitative portfolio analytics in coordination with the risk reporting units, the business units and the Treasury Capital Management unit
Internship or 1-2 years professional experience in econometric/statistical modeling of credit risk/revenue within a financial institution
Understanding and knowledge of commercial and retail banking products, operations and credit and business processes, including credit analysis or lending or credit portfolio management
Strong time-series modeling skills
Excellent analytical, econometrical and statistical skills
Very strong organizational and communication (both verbal and written) skills
Experience with SQL, SAS, R is preferred
Results driven approach to work
- Bachelors degree required, Masters Degree Preferred
Hours & Work Schedule
Hours per Week: 40 Hours
Work Schedule: Monday through Friday
Why Work with Us
At Citizens, you’ll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth.
Equal Employment Opportunity
It is the policy of Citizens Bank and Citizens Securities, Inc. to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, citizenship, veteran or military status, marital or domestic partner status, or any other category protected by federal, state and/or local laws.
Equal Opportunity & Affirmative Action Employer Disabled/Veteran
Citizens Bank is a brand name of Citizens Bank, N.A. and each of its respective subsidiaries, and Citizens Bank of Pennsylvania.