Senior Quantitative Analyst (US) Retail Model Validation

TD Bank; Mount Laurel Township (NJ); On-site; USD 76,000 - 124,000; Full time

Job summary

TD Bank seeks a Model Validator to join the Risk Management team in Mount Laurel, New Jersey. The role focuses on validating credit risk models and regulatory stress testing using traditional statistics and machine learning where applicable.

You will develop benchmark models, prepare detailed validation reports, and collaborate with internal and external teams to ensure robust model risk management across TD Bank.

Qualifications

• Undergraduate degree required; advanced technical degree preferred.
• Graduate degree preferred with progressive project work experience or 3+ years relevant experience.
• In-depth knowledge of quantitative methods is expected.

Responsibilities

• Provides financial, analytical, modeling expertise to build quantitative models for business projects.
• Conducts complex quantitative analysis related to assigned transactions and products.
• Performs statistical tests to validate model assumptions and soundness.
• Hands on coding and development of quantitative models.
• Reviews model results and identifies unexpected findings.
• Develops analytical tools for ongoing use in projects.
• Produces ad-hoc analytical reports and supports cross-functional teams.

Skills

Quantitative modeling

Statistical analysis

Machine learning

Coding

Education

Undergraduate degree

Advanced technical degree preferred

Graduate degree preferred

Job description

Work Location

Mount Laurel, New Jersey, United States of America

Hours

40

Pay Details

$76,290 - $123,980 USD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Line of Business

Risk Management Job Description:

The Model Validation (MV) group is a centralized model risk management function within the Bank. The MV team is responsible for the vetting and approval of complex mathematical and statistical models used in credit lending, business operations, and stress testing. By ensuring an objective and independent evaluation of models, the model validation function is critical to the effective measurement and management of risk across the TD Bank Group.

Model validators perform validation of all models deemed in-scope by the bank-wide Model Risk Policy. These models are used in the Bank for a variety of purposes, including scoring credit risk (acquisitions and account management) and Economic and Regulatory Capital (e.g. Probability of Default, Exposure at Default, Loss Given Default), conducting stress testing, detecting fraud behaviors, and marketing retail products. The focus of this role is on validating models used in credit risk scoring and regulatory stress testing exercises, which may use traditional statistical methodologies as well as machine learning approaches. Validation of models involves testing models' performance and conceptual soundness, developing independent benchmark models, preparing detailed reports summarizing the validation and its outcome, and maintaining productive working relationships with internal model development groups and external vendors who have developed customized models for TD.

Depth and Scope

• Provides financial, analytical, modeling expertise to build quantitative models for business projects
• Conducts complex quantitative analysis as it applies to areas of responsibility, generally aligned to specific transactions and products
• Performs statistical model assumptions' tests for soundness of model theory
• Hands on coding and building of quantitative models
• Reviews model results and identifies unexpected results
• May develop specialized analytical tools for projects or ongoing use
• May develop conclusions and courses of action to rectify discrepancies as well as analyses
• Develops and analyzes key metric and plan variances and related information
• Develops analyses of performance and predictive data
• Compiles and generates ad-hoc analytical reports
• May lead additional research efforts, applying expertise in statistical analysis and modeling
• Explores the best practice modeling techniques for model enhancement
• Highly seasoned professional role requiring substantial knowledge / expertise in a complex field and knowledge of broader related areas
• Integrates knowledge of the enterprise sub-function's or business line's overarching strategy in developing solutions across multiple functions or operations
• Interprets internal/external business challenges and the industry environment, recommends course of action and best practices to improve products, processes or services
• Acts as a technical expert / lead integrating cross-function understanding within their own field of specialty; may manage team(s) of related specialists
• Leads cross-functional teams or projects with significant resource requirements, risk and / or complexity
• Independently manages end-to-end functional programs
• Solves or may lead others to solve complex problems; leads efforts or partners with others to develop new solutions
• Uses sophisticated analytical thought to exercise judgement and identify solutions
• Impacts the achievement of sub-function or business line objectives within the area they are accountable for
• Work is guided by policies and industry standards/methods
• Communicates difficult concepts; converts information to compelling business context and advice; influences and gains alignment across increasingly senior stakeholders
• Works autonomously as the lead and guides others within area of expertise
• Independently handles all but the most complex and unusual issues

Education & Experience

Undergraduate degree required, advanced technical degree preferred (e.g., math, physics, engineering, finance or computer science) Graduate's degree preferred with either progressive project work experience or 3+ years relevant experience, In-depth knowledge of quantitati