Senior Credit Risk Modeling Associate

Santander Consumer USA Inc.; Boston (MA); On-site; USD 109,000 - 200,000; Full time

Job summary

Santander Consumer USA Inc. in Boston seeks a Sr. Associate, Risk Modeling to conduct validations of risk models, develop benchmarks, and lead complex projects within the Quantitative Risk Modeling team.

The role requires 9+ years in risk management, expert SAS, Python and R skills, and the ability to communicate with regulators and leaders. You’ll help improve model development standards and governance.

Qualifications

• Bachelor’s degree in a related field required; advanced degree preferred.
• 9+ years in risk management and risk model development required.
• Strong knowledge of banking regulatory environment and impact on risk management.

Responsibilities

• Review and assess model health within a defined framework and coordinate with stakeholders.
• Conduct extensive research and validation of risk models against standards and benchmarks.
• Assess model performance, assumptions, and weaknesses; propose improvements.
• Collaborate with model owners to understand business context for models.
• Prepare model development reporting for internal and external stakeholders.

Skills

Quantitative skills

Stress testing

Analytical thinking

Project management

Communication skills

Problem solving

Regulatory understanding

Leadership

Education

Bachelor's Degree

Advanced Degree (Masters/PhD)

Tools

SAS

Python

R

Job description

It Starts With You

Santander is a global leader and innovator in the financial services industry and is evolving from a high-impact brand into a technology-driven organization. Our people are at the heart of this journey and together, we are driving a customer-centric transformation that values bold thinking, innovation, and the courage to challenge what’s possible. This is more than a strategic shift. It’s a chance for driven professionals to grow, learn, and make a real difference.

The Difference You Make

The Quantitative Risk Modeling team is responsible for the development, implementation, monitoring, and governance of quantitative credit risk models that support Santander's commercial lending portfolios. The team partners closely with Risk, Credit, Business Line, Data, Technology, and Model Risk Management stakeholders to enhance the bank's risk assessment framework, improve portfolio management, and meet regulatory expectations.

Position Summary

The Sr. Associate, Risk Modeling conducts robust researches and validations of a wide variety of risk models against established standards, develops benchmarks, and challenges and replicates models where applicable. The incumbent manages models of advanced complexity and leads special projects and/or programs.

• Reviews and assesses overall model health within a given framework, identifies potential problems and works with stakeholders to resolve.
• Conducts robust researches and validations of a wide variety of models against established standards, develops benchmarks, challenges and replicates models where applicable.
• Assesses model performance and evaluates model assumptions and weaknesses.
• Collaborates with model owners and develops to understand the business context for models.
• Supports senior model risk personnel in their communications with risk committees, auditors, regulators, and senior management regarding model risk and its potential effects on the risk profile to the organization.
• Improves researching new modeling methodologies and new approaches to the management of model risk.
• Prepares risk model reports, describing the results of the validation analyses and list the recommendations for addressing any issues identified.
• Assists in developing and providing training and support to management and employees regarding model development strategies and programs.
• Prepares model development related reporting for internal and external stakeholders.
• Provides effective communication to model, business and model risk owner groups.
• Improves the model development standards which have been aligned to the Model Risk Management Framework within the company.
• Proactively seek improvements to the credit models that increase the percentage of new loan application volume that can benefit from automated decisioning versus manual underwriting.

What You Bring

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education

• Bachelor’s Degree in related field or equivalent demonstrated through a combination of work experience, training, military service, or education – Required.
• Advanced Degree (Masters or PhD) in related field or equivalent demonstrated through a combination of work experience, training, military service, or education – Preferred.

Professional Experience

• 9+ Years in Risk Management and Risk Model Development - Required.
• Knowledge of banking regulatory environment and impact on risk, management practices - Required.
• Demonstrated expertise in SAS, Python, and R, with the ability to apply programming and analytical methods to solve real-world problems - Required.

Skills

• Successful track record in achieving outstanding levels of delivery, performance, challenge, and oversight.
• Strong quantitative skills and practical modeling experience with demonstrated stress testing techniques.
• Demonstrates an informed perspective on Market environment, future trends, and emerging.
• Extensive experience working with large and complex datasets.
• Ability to lead complex projects with outstanding awareness of the Credit and Operational Risk associated.
• Adherence to the Code of Conduct, assigned Risk Tolerance or Mandates and all organizational policies and procedures applicable.
• Ability to interpret business requirements and translate them into analytical and modeling solutions.
• Exceptional attention to detail and commitment to delivering accurate and timely results.
• Demonstrated ability to manage multiple priorities and deadlines in a fast-paced environment.
• Strong analytical, problem-solving, and critical thinking skills.
• Excellent written and verbal communication skills.
• Strong negotiation and presentation skills.
• Superior project management skills.

Certifications

No Certifications listed for this job.

It Would Be Nice For You To Have

Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education.

Work Authorization & Sponsorship

Applicants must be legally authorized to work in the United States on a full-time basis without requiring employer sponsorship to commence employment.

What Else You Need To Know

The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location.

Base Pay Range

Minimum: $108,750.00 USD

Maximum: $200,000.00 USD

We Value Your Impact

Your contribution matters and it’s recognized. You can expect a fair and competitive rewards package that reflects the impact you create and the value you deliver. We know rewards go beyond numbers. Offering more than just a paycheck our benefits are designed to support you, your family and your well-being, now and into the future.

Santander Benefits - 2026 Santander OnGoing/NH eGuide (foleon.com)

Risk Culture

We embrace a strong risk culture and all of our professionals at all levels are expected to take a proactive and responsible approach toward risk management.

EEO Statement

At Santander, we value and respect differences in our workforce. We actively encourage everyone to apply. Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

Working Conditions

Frequent minimal physical effort such as sitting, standingand walking is required for this role. Depending on location, occasional moving and lifting light equipment and/or furniture may be required.

Employer Rights

This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate your employment at any time for any reason.

We are committed to providing an inclusive and accessible application process for all candidates. If you require any assistance or accommodation due to a disability or any other reason, please contact us at [e-mail] to discuss your needs.