Credit Risk Methodology and Oversight

Quantitative Risk Mgmt
The Quantitative Risk Management role participates in developing, implementing and validation of global risk quantitative and analytic models to support efforts to minimize risk. Working under limited supervision, the Quantitative Risk Management Analyst provides risk management support for the business in key risk identification, measurement, and aggregation; and the understanding and management of risk through appropriate practices and processes
Key Responsibilities and Duties

• Assists with developing and/or reviewing models to support identification and review of risk issues, risk metrics and risk exposure.
• Applies established risk metrics and risk tolerance guidelines and policies.
• Develops processes for effective and efficient reporting and data analysis to minimize risk exposure.
• Ensures data inputs to models are valid and appropriate.
• Supports the risk management system and regularly communicates material risk issues, risk metrics, and risk exposure resolutions.
• Contributes to explanations of quantitative risk management policies and procedures to ensure timely and transparent communication.

Educational Requirements

• University (Degree) Preferred

Work Experience

• 5+ Years Required; 7+ Years Preferred

Physical Requirements

• Physical Requirements: Sedentary Work

Career Level
8IC

Position Summary

The primary purpose of this role is to provide comprehensive credit risk oversight and methodology support through independent credit rating reviews, model validation, portfolio sampling, and data validation activities. This position requires a blend of model development expertise, credit analysis capabilities, and technical proficiency to work collaboratively with IT teams while ensuring the accuracy, consistency, and timeliness of credit risk ratings and methodologies across the investment portfolio.

Key Duties & Responsibilities

Credit Oversight, Reviews and Methodology

• Perform independent credit risk rating reviews of obligors including private corporate obligors, residential and commercial mortgage loans, securitized bonds, and individual debt securities
• Conduct and establish scope and frequency of portfolio sampling for independent rating reviews to ensure proper execution across both randomly and manually selected obligors and securities
• Support the evaluation of rating assignment and update processes undertaken by analysts for both public and private obligors and securities to determine consistent and proactive credit risk monitoring
• Monitor portfolio performance to gauge migration trends, consistency, and default characteristics across the investment portfolio
• Ensure consistency, accuracy, and timeliness of internal credit ratings through systematic review processes

• Review and monitor internal credit risk rating models to ensure robustness and accuracy and perform model validation tests and annual model confirmation as required by Model Risk Management (MRM)
• Assist in the completion of annual MRM requirements including confirmation reports, revalidation tests, and responding to queries per defined cadence
• Customize or recalibrate models and update model documentation when needed

• Work collaboratively with IT teams to ensure data assurance, data aggregation, and data validation for credit risk models and analyses
• Analyze large datasets to identify trends, patterns, and correlations that impact credit risk
• Recommend technology-based tools and product enhancements to perform credit and statistical data analysis more accurately and efficiently

• Assist in the design of obligor/securities review memos, reports, and other documentation
• Prepare and update Standard Operating Procedures (SOPs) and manuals to cover credit risk activities

• Generate accurate and timely credit risk reports for multiple stakeholders, including management and internal auditors

Job Requirements and Qualifications

Required Education:

• Master's degree in Finance, Statistics, Mathematics, Engineering, Quantitative Finance, or related field

Preferred Education:

• Master's or Ph.D. in quantitative finance, mathematics, statistics, applied mathematics, computer science, physics, engineering, or related quantitative field
• Professional certifications such as FRM (Financial Risk Manager) from GARP or CFA (Chartered Financial Analyst)

Required Experience:

• 5+ years of experience in financial risk management with a mix of:
  • Credit model development and validation
  • Credit risk analysis and portfolio reviews
  • Deal review and credit appraisal
  • Portfolio sampling methodologies
  • Data validation and quality assurance

Preferred Experience:

• 5-10 years in credit risk quantitative analysis or credit risk oversight roles
• Experience working in Banking, Investment Banking, Credit Rating Agency, Asset Management, or Insurance firm
• Proven track record of model development, validation, and calibration activities
• Experience with both public and private credit markets

Functional Knowledge and Skills

Technical Skills:

• Experience with credit risk vendor models such as Moody's EDF-X, CMM, RiskCalc, or MPA
• Proficiency in programming languages including Python, SQL, R, MATLAB, or equivalent tools is an advantage
• Strong coding capabilities for model development, testing, and data validation and proficiency in database management and data validation techniques

• Understanding of credit risk metrics including PD (Probability of Default), LGD (Loss Given Default), and EAD (Exposure at Default)
• Knowledge of credit rating methodologies and rating migration analysis
• In-depth knowledge of quantitative analytics and statistical modeling techniques

Analytical and Problem-Solving Skills:

• Strong analytical and quantitative skills with proven ability to develop and implement models
• Ability to analyze large datasets and identify trends, patterns, and correlations
• Experience in risk modeling, risk reporting, credit reviews, appraisals and stress testing

Interactions & Interpersonal Skills

• Willingness to take individual initiative while working both independently and under general supervision
• Strong written communication skills for preparing reports, SOPs, and model documentation
• Strong communication skills to effectively interact with various stakeholders including analysts, management, auditors, and technology teams
• Ability to work collaboratively with IT teams on data validation initiatives and technical implementations
• Ability to communicate clearly in virtual environments (Zoom, Teams)
• Capacity to build and strengthen partnerships across functions

Impact

Nature of Impact: The role enhances credit risk oversight infrastructure, improves existing models and methodologies, and ensures robust data validation processes. The position creates greater resiliency for credit risk management, accelerates model improvement efforts, and strengthens the organization's bench strength in credit methodology and oversight.

Area of Impact: The immediate impact is on the Credit Risk and Financial Risk teams. Secondary impacts extend to the broader organization through dynamic credit risk oversight, asset allocation support, measurement of potential capital at risk, and contribution to Asset Liability Management (ALM), Interest Rate Risk, and Credit Risk Management functions.

Physical Requirements

Physical Requirements: Sedentary Work

Related Skills

Advanced Mathematics, Communication, Critical Thinking, Data Analysis, Financial Acumen, Financial Modeling, Market/Industry Dynamics, Model Validation, Prioritizes Effectively, Problem Solving, Programming, Quantitative Analysis, Statistics

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Company Overview

TIAA Global Capabilities was established in 2016 with a mission to tap into a vast pool of talent, reduce risk by insourcing key platforms and processes, as well as contribute to innovation with a focus on enhancing our technology stack. TIAA Global Capabilities is focused on building a scalable and sustainable organization , with a focus on technology , operations and expanding into the shared services business space.

 
Working closely with our U.S. colleagues and other partners, our goal is to reduce risk, improve the efficiency of our technology and processes and develop innovative ideas to increase throughput and productivity.

We are an Equal Opportunity Employer. TIAA does not discriminate against any candidate or employee on the basis of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.

Our Culture of Impact

At TIAA, we're on a mission to build on our 100+ year legacy of delivering for our clients while evolving to meet tomorrow's challenges. We equip our associates with future-focused skills and AI tools that enable us to advance our mission. Together, we are fighting to ensure a more secure financial future for all and for generations to come. We are guided by our values: Champion Our People, Be Client Obsessed, Lead with Integrity, Own It, and Win As One. They influence every decision we make and how we work together to serve our clients every day. We thrive in a collaborative in-office environment where teams work across organizational boundaries with shared purpose, accelerating innovation and delivering meaningful results. Our workplace brings together TIAA and Nuveen's entrepreneurial spirit, where we work hard and work together to create lasting impact. Here, every associate can grow through meaningful learning experiences and development pathways—because when our people succeed, our impact on clients' lives grows stronger.

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TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities.

If you are a U.S. applicant and desire a reasonable accommodation to complete a job application please use one of the below options to contact our accessibility support team: 

Phone: (800) 842-2755

Email: [email protected]

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