CIT Group Inc.

  • Director, Wholesale Credit Model Development

    Location US-NJ-Livingston
    Job ID
    # Positions
    Job Family
    Risk Management - Quantitative Strategy
  • Overview

    Founded in 1908, CIT (NYSE: CIT) is a leading national bank empowering businesses and personal savers with the financial agility to navigate their goals. We believe in helping customers turn their ideas into outcomes. Whether those customers are building a business or building their savings, CIT has the experience and agility to empower them to achieve their goals. At CIT, how we do business is just as important as what we do. Our social responsibility programs focus on driving financial and personal empowerment, supporting the environment and advancing wellness. CIT contributes to communities where we live, work and do business through charitable donations, community investments and employee volunteerism.


    The Quantitative Strategies team (QS) delivers model development, research and analysis to support CIT in 3 objectives:

    • Building and supporting models for Commercial Banking.
    • Building and supporting models for regulatory requirements.
    • Build tools & process enhancements and identifying opportunities to automate parts of model development and contribute to infrastructure, tool, or process improvement to enable efficiencies on the team
    • Ad-hoc quantitative support for other areas in the organization

    This role will primarily focus on developing risk rating PD and LGD models for Wholesale Credit and Commercial Real Estate Finance




    • Advanced degree (Masters or PhD) required in Quantitative Finance, Applied Mathematics, Statistics, Engineering, or other quantitative-oriented disciplines.
    • 8+ years of experience developing/validating for wholesale credit risk PD, LGD, EAD
    • Experience successfully collaborating with others in a change driven environment, particularly technology, internal controls, and project management teams
    • Demonstrated ability to effectively organize tasks, manage time, set priorities and deadlines
    • Strong quantitative skills and analytical problem solving ability required
    • Functional with database development, maintenance, and extraction of data.
    • Advanced programming skills in one of the following - R, SAS, MATLAB or Python
    • Knowledge of banking model related regulation (SR 11-7/OCC 2011-12)
    • Experience in CECL/DFAST environment is desirable
    • Excellent written and verbal communication and interpersonal skills, including the ability to reach the best possible results without compromising the work quality
    • Ability to explain complex mathematical concepts to a variety of audiences that may be both mathematical and nonmathematical in nature
    • Team-work oriented and strong presentation skills
    • Results oriented


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