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
Senior Quantitative Analyst provides the quantitative analysis and builds the advanced quantitative models to meet business requirements. In addition, the Senior Quantitative Analyst provides highly specialized quantitative analytical and modeling support at the assigned line(s) of business and Develop advanced quantitative models to enable pricing of products. Provide highly specialized analytical and modeling support for these models including optimal pricing and risk management.
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 & 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 quantitative models and statistical analysis
- Ability to effectively interpret, select appropriate techniques, take independent action, communicate, and follow-through
- Strong communications skills, both written and verbal
- Strong interpersonal and consultative communication skills with well-developed presentation skills
- Ability to manage competing priorities effectively, making good decisions based on business priorities and objectives
- Practical knowledge of financial analysis techniques and methodologies
- Ability to employ complex analytical tools and statistics to perform analysis and forecasting of financial and other business information
- Proficiently use Microsoft Office tools to prepare and present analysis results to the audience
- Advanced skills in SAS and SQL
- Advanced level in statistical analysis and modeling tools
- Ability to exercise sound judgment in making decisions
- Ability to analyze complex information and develop plans to address identified issues
- Demonstrated skills in conflict resolution, strong intuitive judgment and negotiation/influencing skills, flexibility and adaptability to changing priorities in a fast-paced environment, along with a strong consultative approach
- Skill in collecting, organizing and analyzing complex or technical data
- Skill in using logic and reasoning to identify the strengths and weaknesses of alternative situations, conclusions or approaches to problems
- Skill in active learning by understanding the implications of new information for both current and future problem solving and decision making
- Skill in identifying complex problems and reviewing related information to develop and evaluate options and implement solutions
- Skill in decision making by considering relative costs and benefits of potential actions and choosing the most appropriate option
- Ability to determine which issues to escalate versus to resolve independently, and provide suggestions for possible resolution
- Ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events)
- Ability to evaluate documents for accuracy and legal conformance
- Ability to anticipate and diffuse problems before they occur
- Ability to conduct short-range and long-range business planning
- Ability to develop objectives, evaluate effectiveness and assess needs
- Ability to recognize, analyze and solve a variety of problems
- Ability to identify problems, evaluate alternatives and implement effective solutions
- Ability to implement new systems and procedures and to evaluate their effectiveness
- Ability to problem solve a variety of situations
- Ability to contribute to strategic direction of the function and provide advice to senior leadership
- Ability to think strategically and possess strong business acumen
Customer Accountabilities:- Develop and enhance quantitative pricing models
- May lead additional research efforts, applying expertise in quantitative analysis and modeling
- Write computer code to implement new pricing models and enhancements to existing models
- Work with trading desks to perform analysis of financial markets using quantitative models
- Work with trading desks and risk management to perform analysis of financial product pricing and risk management using quantitative models
- Explore the best practice modeling for model enhancement
- May develop specialized analytical tools for projects or ongoing use
- Enhance model documentation to reflect new or improved models and model features
- Work with model risk management to get new models and features approved
- Review model results and identify unexpected results
- May develop conclusions and courses of action to rectify discrepancies and analyses
- Assist in the analyses of model performance
- Develop and maintain strong business relationships with trading desks
- Supportsthe development, forecasting, and analysis of potential responses to regulatory inquiry related to models
Shareholder Accountabilities:- Contribute to various operational activities and processes as assigned
- Consistently exercise discretion in managing correspondence, information and all matters of confidentiality; escalate issues where appropriate
- Be knowledgeable of practices and procedures within own area of responsibility and keep abreast of emerging trends for own functional area
- Protect the interests of the organization - identify and manage risks, and escalate non-standard, high risk activities as necessary
- Conduct internal and external research projects; support the development / delivery of presentations / communications to management or broader audience
- Conduct reporting and / or meaningful analysis at the functional or enterprise level using results to draw conclusions, make recommendations, assess the effectiveness of programs/ policies/ practices
- Monitor service, productivity and assess efficiency levels within own function and implement continuous process / performance improvements where opportunities exists
- Acquire and apply expertise in the discipline, provide guidance, assistance and direction to others
- Identify, recommend and effectively execute standard practices applicable to the discipline
- Adhere to internal policies/procedures and applicable regulatory guidelines
- Keep abreast of emerging issues, trends, and evolving regulatory requirements and assess potential impacts
- Maintain a culture of risk management and control, supported by effective processes in alignment with risk appetite
- May lead work streams by acting as a project lead / subject matter expert for small scale projects / initiatives in accordance with project management methodologies
Employee/Team Accountabilities:- Participate fully as a member of the team, support a positive work environment that promotes service to the business, quality, innovation and teamwork and ensure timely communication of issues/ points of interest
- Support the team by continuously enhancing knowledge / expertise in own area and participate in knowledge transfer within the team and business unit
- Keep current on emerging trends/ developments and grow knowledge of the business, related tools and techniques
- Participate in personal performance management and development activities, including cross training within own team
- Keep others informed and up-to-date about the status / progress of projects and / or all relevant or useful information related to day-to-day activities
- Contribute to the success of the team by willingly assisting others in the completion and performance of work activities; provide training, coaching and/or guidance as appropriate.
- Contribute to a fair, positive and equitable environment that supports a diverse workforce
- Act as a brand ambassador for your business area/function and the bank, both internally and/or externally
Physical Requirements:Never: 0%; Occasional: 1-33%; Frequent: 34-66%; Continuous: 67-100%
- Domestic Travel - Occasional
- International Travel - Never
- Performing sedentary work - Continuous
- Performing multiple tasks - Continuous
- Operating standard office equipment - Continuous
- Responding quickly to sounds - Occasional
- Sitting - Continuous
- Standing - Occasional
- Walking - Occasional
- Moving safely in confined spaces - Occasional
- Lifting/Carrying (under 25 lbs.) - Occasional
- Lifting/Carrying (over 25 lbs.) - Never
- Squatting - Occasional
- Bending - Occasional
- Kneeling - Never
- Crawling - Never
- Climbing - Never
- Reaching overhead - Never
- Reaching forward - Occasional
- Pushing - Never
- Pulling - Never
- Twisting - Never
- Concentrating for long periods of time - Continuous
- Applying common sense to deal with problems involving standardized situations - Continuous
- Reading, writing and comprehending instructions - Continuous
- Adding, subtracting, multiplying and dividing - Continuous
The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required. The listed or specified responsibilities & duties are considered essential functions for ADA purposes.
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