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Risk Quant

Ernst & Young
Risk Quant
New York, US
97,000 - 149,000
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Job Description

EY is the only professional services firm with a separate business unit (“FSO”) that is dedicated to the financial services marketplace. Our FSO teams have been at the forefront of every event that has reshaped and redefined the financial services industry. If you have a passion for rallying together to solve the most complex challenges in the financial services industry, come join our dynamic FSO team!

EY is currently seeking highly motivated individuals to be part of our Quantitative Advisory Services (QAS) Banking Book team. You will use analytics and quantitative techniques to help our clients solve Financial Services Risk Management issues (in relation to consumer and commercial credit, climate change, consumer compliance/fair lending, artificial intelligence/machine learning usage and related) facing the financial services sector, drive business efficiencies, and manage risks and opportunities in banking book portfolios. Our team is engaged in high exposure quantitative service projects related to the development and validation of financial models used for wholesale and retail credit, advanced analytics, and risk management.

Our team brings deep industry knowledge and quantitative modeling experience to support our clients in the evolving regulatory landscape and financial services market. As a member of the EY team, you will have the opportunity to work with a variety of clients, learn on the job, and build insight into the market landscape.

The opportunity

As part of our Advisory Services, you’ll have the opportunity to team with a variety of QAS professionals and clients to deliver professional services and actively participate in our growing practice. You’ll work on client assignments that will help you deepen and broaden your skills, while gaining valuable and rewarding experiences. With each engagement, you can expect to build leadership, communication, and client management skills, as well as sharpen your problem-solving capabilities.

Your key responsibilities

As a Senior in QAS, your primary responsibilities will include delivering services in wholesale and retail credit risk, risk management and governance, model development and implementation, model/system documentation, and model benchmarking, while establishing relationships with client personnel at appropriate levels and consistently delivering quality client services.

Other responsibilities may include:

  • Performing detailed data analysis to help clients solve business problems and complex issues in the financial services industry, including model development, documentation, testing, validation, benchmarking, and implementation.
  • Supporting the development of mathematical/statistical models used to develop analytical tools or financial instruments.
  • Applying quantitative techniques to help institutions develop and validate credit risk modelling methodologies.
  • Reaching conclusions, documenting results, and suggesting ideas for efficiencies.

Skills and attributes for success

  • Perform advanced analytical analyses and apply critical thinking to help our clients solve business issues
  • Demonstrate in-depth technical capabilities, ability to apply analytical tools / techniques to various business analyses and professional knowledge
  • Communicate and interpret deep technical concepts to both technical and non-technical client stakeholders
  • Maintain an ambitious attitude toward finding innovative solutions to challenging problems
  • Bring functional experience in credit risk modelling and demonstrate knowledge of risk management function processes and overall model lifecycle management
  • Have functional knowledge related to some of the following: broad credit risk modeling, wholesale modeling (e.g., CRE and C&I), retail modeling (e.g., mortgage and credit card, other consumer loans), applicability of models in the context of CECL/IFRS 9, risk management, sustainable finance/climate change, fair lending/consumer compliance, artificial intelligence/machine learning applications, model development, model validation, financial analytics, advanced analytics (e.g., machine learning techniques)
  • Drive high-quality work products within expected timeframes and on budget
  • Establish relationships with client personnel at appropriate levels
  • Understand our clients’ needs and consistently deliver quality client services focusing on more complex, judgmental, and/or specialized issues
  • Stay abreast of current business and industry trends in allowance and reserving as well as advanced analytics
  • Monitor progress, manage risk, and ensure key stakeholders are kept informed about progress and expected outcomes
  • Coach and mentor junior staff and new hires

To qualify for the role, you must have:

  • A Bachelor’s degree in Economics, Environmental Studies, Finance, Mathematics, Statistics, Data Science, Computer Science, Engineering, Physics, or a related field and 3 years of quantitative analysis work experience; or a Master’s degree in Economics, Environmental Studies, Finance, Mathematics, Statistics, Data Science, Computer Science, Engineering, Physics, or a related field and 2 years of quantitative analysis work experience; or a Ph.D. in Economics, Environmental Studies, Finance, Mathematics, Statistics, Data Science, Computer Science, Engineering, Physics, or a related field.

 Ideally, you’ll also have:

  • Familiarity with statistical and numerical techniques and business acumen
  • Experience working with one or more of the following languages: SAS, R, Python
  • Ability to execute statistical modeling software/Excel routines and analytical programming requirements
  • Approximately 1 year of experience working in a financial product engineering/research and development environment designing and developing quantitative methods and services for capital market products
  • Leadership as well as proven project management skills
  • Excellent written and verbal communication skills for client presentations and project management
  • Willingness to travel to meet client needs

What we look for

We’re interested in intellectually curious people, with the ability to adjust to change and thrive in a constantly evolving environment. You’ll need to be someone who is capable of asking the tough questions and independently driving their own career and learning initiatives. You’ll also need excellent organizational skills and a proven record of multitasking and working effectively across multiple projects. So, if you’re ready to contribute your big ideas and make a measurable difference right from the start, this role is for you.

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