Director, Quantitative Risk Management (Wholesale Credit Risk Review) Remote work available

Job description

Purpose of Job We are seeking a talented Director, Quantitative Risk Management (Wholesale Credit Risk Review) for our San Antonio, TX, Plano, TX, or Charlotte, NC facility or this can be a 100% remote work environment.

USAA values a culture that is highly collaborative, and we have found that a hybrid work type helps employees gain the best of both worlds - collaborating in-person in the office and working from home when needed to achieve focused deliverables. The actual days onsite are determined between each employee and the employee's manager.

If remote: Occasional travel will be required to USAA facility for training and/or meetings.

As a key leader in Enterprise Credit Risk Review, this Director will build, lead, manage, and develop a new team of Credit Risk Review professionals. This position is responsible for the development, oversight, planning, and timely execution of Periodic Reviews for the Wholesale Credit Risk portfolios across the USAA enterprise. The portfolios include commercial real estate lending and other non-lending credit exposures for investments, re-insurance, and counterparty credit risk. The Director will lead members of the Wholesale Review Team, or assist others to lead, in activities that analyze wholesale credit exposures and activities in fulfillment of the Credit Risk Review programs. Through these programs, the team will independently opine on the timeliness and accuracy of risk evaluation and grading, adequacy of portfolio management by the first- and second-line credit risk management functions, appropriateness of credit risk actions, and effectiveness of the credit management process and controls. The Wholesale Review Team will further be responsible for independently monitoring credit risk trends and performing surveillance with the support of data analytics professionals, and other deep dive activities for the Credit Risk Review Continuous Monitoring program. In fulfillment of regulatory guidance, the Team will provide objective credit risk assessments of the overall credit quality of the lending and non-lending credit exposures at least annually.

Accountable for the development and mentoring of a high performing team that conducts and develops quantitative and analytic models, assessments and/or applications in support of risk management efforts that assess the risks of new and existing financial products. Influences processes at both the business unit and enterprise level and leads and sets the agenda for risk management deliverables. Responsible for influencing complex decisions at both the enterprise and business unit level utilizing advanced analytical results that assess future risks, opportunities, and effectiveness. Leads or provides direction to cross-functional teams to achieve enterprise objectives.

About USAA

USAA knows what it means to serve. We facilitate the financial security of millions of U.S. military members and their families. This singular mission requires a dedication to innovative thinking at every level.

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About USAA Risk Management

USAA is a growing financial services company and the Risk Management function at USAA is an important part of this growth. It is an exciting time at USAA and in our Risk Management organization. We are a diversified team of Risk professionals, working across all lines of business across USAA operations (banking, insurance, investments) seeing the incredible growth first-hand. Working at USAA in Risk Management affords you the ability to be a part of USAA's noble mission on a daily basis. We stand behind our 11 million members who rely on us every day.

Primary Responsibilities:

• Leads teams that utilize advanced analytics to assess future risk, opportunities, and effectiveness.
• Translates results into meaningful solutions to enhance decision making.
• Presents results to various levels of leadership and influences key decisions that have business unit or enterprise impact.
• Utilizes industry best practices to quantify risk and aggregate exposures.
• Oversees the development of complex systems and programs that measure aggregate risk exposures.
• May oversee model validation and model governance efforts.
• Applies innovative and scientific/quantitative analytical approaches to draw conclusions and make recommendations to answer business objectives and drive change.
• Oversees the production of advanced analytical material for discussions with cross functional teams to understand complex business objectives and influences solution strategies.
• Effectively communicates analytical results, findings and solutions to governance committees, senior leaders, regulatory bodies and the USAA Board of Directors.
• Interacts with internal and external stakeholders during audits, regulatory reviews and/or rating agency requests.
• Educates risk owners on risk management best practices and may work with other risk functions in the development and implementation of risk controls.

When you apply for this position, you will be required to answer some initial questions. This will take approximately 5 minutes. Once you begin the questions you will not be able to finish them at a later time and you will not be able to change your responses.

Minimum Requirements :

• Bachelor's degree in Economics, Finance, Statistics, Mathematics, Actuarial Sciences, or a related field OR 4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree.
• A minimum of 8 years related quantitative analysis experience in a discipline relevant to risk management to include statistical analysis, modeling, mathematics or other quantitative discipline; OR advanced degree/designation in Economics, Finance, Statistics, Mathematics, Actuarial Sciences, or other quantitative discipline and 6 years of work experience in a quantitative discipline relevant to risk management; OR PhD in Economics, Finance, Statistics, Mathematics, or other quantitative discipline and 4 years of work experience in a quantitative discipline relevant to risk management.
• A minimum of 3 years of direct team lead or management experience.

Preferred Experience :

• 10 years of Credit Risk Review and/or Internal Audit experience in the financial industry are required. Large financial institution experience is preferred.
• Through the economic cycle wholesale credit risk experience of 15 years is preferred.
• General understanding of risk management acumen and protocols for credit and non-credit instruments, such as fixed income investments for corporates, derivatives, equities, mortgage-backed securities, municipals, and structured finance; counterparty derivatives and reinsurance; private equity, tax credits, and commercial real estate lending.
• Excellent verbal and written communication and interpersonal skills required with ability to present complex and sensitive issues to management.

Compensation: USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market position. The salary range for this position is: $117,600 - 211,700 *(this does not include geographical differential, it may be applied based on your work location)

Employees may be eligible for pay incentives based on overall corporate and individual performance or at the discretion of the USAA Board of Directors.

*Geographical Differential : Geographic pay differential is additional pay provided to eligible employees working in locations where market pay levels are above the national average.

Shift premium: Will be addressed on an individual basis for applicable roles that are consistently scheduled for non-core hours.

Benefits: At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.

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Relocation assistance is available for this position.