Principal Credit Risk Analyst

Alliant Credit Union; Chicago (IL); Hybrid; USD 119,400 - 204,600; Full time

Benefits offered by this job

Annual performance bonus

Work from home up to 3 days a week

Paid parental leave

Employee discount programs

Time off including paid personal and S

11 paid holidays

Education reimbursement

Job summary

Alliant Credit Union is seeking a data-driven analytics leader in Chicago to optimize risk-return across consumer lending portfolios, including credit cards, personal loans, auto loans, and mortgage. Drive analytical frameworks for origination, loss forecasting, capital planning and CECL, and lead cross-functional workstreams across business lines, finance and compliance.

The role emphasizes building models, evaluating risk factors, and guiding underwriting criteria and pricing to balance growth

Qualifications

• Graduate degree in Mathematics, Statistics, Quantitative Finance, Financial Engineering, Computer Science or related.
• Minimum 6 years of analytics, credit risk or related.
• In lieu of Education: 10 years of Analytics, Credit Risk or related.

Responsibilities

• Develop analytical frameworks for loan origination and CECL.
• Assess risk-adjusted profitability of new originations.
• Lead significant workstreams and mentor analysts.
• Review credit risk for open-ended lending products.
• Collaborate with Loss Prevention & Recovery and IT/data teams.
• Prepare periodic reports for audit and regulatory compliance.

Skills

Data analytics

Credit risk

Stakeholder collaboration

CECL

Education

Graduate degree in Mathematics, Statistics, Quantitative Finance, Financial Engineering, Computer Science or related

Minimum 6 Years of Analytics, Credit Risk or related

In lieu of Education: 10 years of Analytics, Credit Risk or related

Tools

SQL

Data warehouse

Excel

Job description

In this hybrid role based at our Chicago Headquarters, you will provide data-driven insights and recommendations for the effective management of the risk-return trade-off across consumer lending portfolios such as credit cards, personal loans, auto loans, etc.. Lead significant workstreams and initiatives leveraging data and analytics. Build productive and constructive relationships with key partners across different functions including but not limited to business line managers, finance, compliance. Drive the development of analytical frameworks and strategies for loan origination, loss forecasting, capital planning and CECL. Analyze data to identify the quantitative and qualitative factors driving the credit risk for consumer & mortgage loans.

• Use data and analytics to develop analytical frameworks and strategies for loan origination strategies, loss forecasting, capital planning and CECL.
• Analyze origination risk factors and recommend improvements in underwriting criteria and loan product pricing to increase loan volumes within the risk appetite.
• Review and monitor credit risk for existing accounts in open-ended lending products such as credit card, HELOCs, etc., and recommend line management strategies.
• Support new data acquisition and guide less experienced analysts and other functional areas on current data intricacies.
• Conduct third-party quarterly mortgage & consumer loan portfolio performance analysis.
• Provide thought leadership and rule recommendations for loan origination system implementation and maintenance.
• Assess the risk-adjusted profitability (NPV) of new originations across the portfolios managed.
• Drive analytical projects of high complexity from inception to completion and provide guidance to less experienced analysts on specific projects.
• Ensure effective communication with management and key stakeholders from other functional areas.
• Complete credit risk analytics, which includes but is not limited to loan origination strategy, economic capital setting, credit loss modeling and mitigation, CECL implementation
• Partner with other areas such as Loss Prevention & Recovery to enable sound collection strategies.
• Collaborate with database administration to streamline two-way communication to ensure data quality.
• Query the data warehouse and other databases to extract, summarize, and save relevant data.
• Drive improvements in test set-up to more accurately assess effectiveness of proposed risk strategies and team up with other departments for project implementation.
• Evaluate, implement, and monitor internally developed or third-party scoring solutions.
• Present recommendations and findings to management
• Develop periodic reports for audit and regulatory compliance and assist with ad hoc requests.
• Help formulate and revise credit policies and procedures to address new regulations.

.

Education & Years of Experience

• Minimum - Graduate Degree inMathematics, Statistics, Quantitative Finance, Financial Engineering, Computer Science or related
• Minimum - 6 Years of Analytics, Credit Risk or related

In Lieu of Education

• 10 years ofAnalytics, Credit Risk or related

Typical hiring range:‏‏‎ ‎ $119,400.00 to $204,600.00‎ Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.

‎Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including:

• Annual performance bonus
• Work from home up to 3 days a week
• Paid parental leave
• Employee discount programs
• Time off including paid personal and sick days
• 11 paid holidays

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.

The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice

Equal Opportunity Employer

In this hybrid role based at our Chicago Headquarters, you will provide data-driven insights and recommendations for the effective management of the risk-return trade-off across consumer lending portfolios such as credit cards, personal loans, auto loans, etc.. Lead significant workstreams and initiatives leveraging data and analytics. Build productive and constructive relationships with key partners across different functions including but not limited to business line managers, finance, compliance. Drive the development of analytical frameworks and strategies for loan origination, loss forecasting, capital planning and CECL. Analyze data to identify the quantitative and qualitative factors driving the credit risk for consumer & mortgage loans.

Essential Responsibilities

• Use data and analytics to develop analytical frameworks and strategies for loan origination strategies, loss forecasting, capital planning and CECL.
• Analyze origination risk factors and recommend improvements in underwriting criteria and loan product pricing to increase loan volumes within the risk appetite.
• Review and monitor credit risk for existing accounts in open-ended lending products such as credit card, HELOCs, etc., and recommend line management strategies.
• Support new data acquisition and guide less experienced analysts and other functional areas on current data intricacies.
• Conduct third-party quarterly mortgage & consumer loan portfolio performance analysis.
• Provide thought leadership and rule recommendations for loan origination system implementation and maintenance.
• Assess the risk-adjusted profitability (NPV) of new originations across the portfolios managed.
• Drive analytical projects of high complexity from inception to completion and provide guidance to less experienced analysts on specific projects.
• Ensure effective communication with management and key stakeholders from other functional areas.
• Complete credit risk analytics, which includes but is not limited to loan origination strategy, economic capital setting, credit loss modeling and mitigation, CECL implementation
• Partner with other areas such as Loss Prevention & Recovery to enable sound collection strategies.
• Collaborate with database administration to streamline two-way communication to ensure data quality.
• Query the data warehouse and other databases to extract, summarize, and save relevant data.
• Drive improvements in test set-up to more accurately assess effectiveness of proposed risk strategies and team up with other departments for project implementation.
• Evaluate, implement, and monitor internally developed or third-party scoring solutions.
• Present recommendations and findings to management
• Develop periodic reports for audit and regulatory compliance and assist with ad hoc requests.
• Help formulate and revise credit policies and procedures to address new regulations.

.

Education & Years of Experience

• Minimum - Graduate Degree inMathematics, Statistics, Quantitative Finance, Financial Engineering, Computer Science or related
• Minimum - 6 Years of Analytics, Credit Risk or related

In Lieu of Education

• 10 years ofAnalytics, Credit Risk or related

Compensation & Benefits:

Typical hiring range:‏‏‎ ‎ $119,400.00 to $204,600.00‎ Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.

‎Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including:

• Annual performance bonus
• Work from home up to 3 days a week
• Paid parental leave
• Employee discount programs
• Time off including paid personal and sick days
• 11 paid holidays
• Education reimbursement

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.

Equal Opportunity Employer

This employer is required to notify all applicants of their rights pursuant to federal employment laws.
For further information, please review the Know Your Rights notice from the Department of Labor.