Quantitative Risk Analyst at MGIC

| Milwaukee, WI
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Why work at MGIC?

Are you someone who wants to play a critical role in our company's success? Do you enjoy solving puzzles and finding a better way to get things done? Are you someone who likes to Take The Lead and make an impact? If so, then imagine yourself at MGIC. At MGIC we are a team of dedicated professionals on a fearless mission. A team that fosters a culture of career development and continuous learning opportunities to help you rise to new heights. We are passionate about providing outstanding customer service and making a difference in our community. #WeAreMGIC

We are looking for a motivated individual to join our Risk Management Department. This role impacts the organization by conducting complete mortgage performance quantitative analysis to support MGIC's strategic risk management goals through research, computer simulation, and interpretation.

How will you make an impact?
  • Helps develop, implement and maintain model risk management framework
  • Helps develop model risk management guidelines/standards to reflect industry best practices, regulatory guidance, and MGIC's unique operating environment
  • Collaborates with functional roles associated with a model, including Model Developer, Model Application Development, Operations and Implementation and Data Governance
  • Contributes to the development and implementation of MGIC's Model risk appetite and approach for quantifying/aggregating model risk
  • Conducts independent assessments of model performance, identifying model strengths and limitations from both a computing and quantitative perspective, and maintaining accurate documentation
  • Conducts research on various factors related to assigned focus (e.g. geographic market risk classification, data/statistical analysis, risk adjusted capital development) and impact thereof
  • Plans or participates in the planning of complex key business projects. Establishes scope and objectives and develops the strategy for completion
  • Conducts research, gathers information, and maintains awareness of business environment, government events, regulatory changes, and rating agency disclosures
  • Responsible for unique and ongoing responsibilities as assigned
  • Makes recommendations for development and process improvements

Do you have what it takes?

Education: Completion of Master's Degree in Computational Finance, Economics or related field with a focus on quantitative financial analytics. Additional experience (2 years) beyond the minimum (below) may be substituted for education beyond a Bachelor's Degree.

Required Knowledge and Skills:
  • Interdisciplinary knowledge including finance, mathematics, statistics, and programming
  • Proficiency in data query and statistical tools/languages such as SAS, SQL, or similar
  • Exposure to high level programming languages like R or Python.
  • Experience with mortgage securitization models
  • Statistical and machine learning methods for financial data
  • Mortgage and interest rate modelling

  • 3 - 5 years advanced work in quantitative finance
  • Performs analysis of advanced complexity
  • High level of business knowledge across multiple areas
  • Regular contact with Senior Management

All employees are encouraged to be fully vaccinated. Employees who are not fully vaccinated will be required to provide proof of weekly COVID-19 testing and wear a face covering at the workplace, subject to medical or religious exemptions. Proof of vaccination status will be required.

Enjoy these benefits from day one:
• Competitive Salary & pay-for-performance bonus• Financial Benefits (401k with company match, pension plan, profit sharing, HSA, wellness rewards program)• On-site Fitness Center and classes (corporate office)• Paid-time off and paid company holidays• Business casual dress

For additional information about MGIC and to apply, please visit our website at www.mgic.com/careers.
More Information on MGIC
MGIC operates in the Fintech industry. The company is located in Milwaukee, WI, Milwaukee, WI and Milwaukee, WI. MGIC was founded in 1957. It has 1100 total employees. It offers perks and benefits such as Dental Benefits, Vision Benefits, Health Insurance Benefits, 401(K), Performance Bonus and Family Medical Leave. To see all 10 open jobs at MGIC, click here.
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