Job Information
Nuveen Investments Associate – Credit Risk quantitative analyst - Financial Risk in Mumbai, India
The Quantitative Risk Management Analyst participates in developing and implementing 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
- 3+ Years Required; 5+ Years Preferred
Physical Requirements
- Physical Requirements: Sedentary Work
Career Level
7IC
Position Summary:
The primary purpose of the role is to utilize tools and metrics for statistical credit risk analysis to help build solutions for the management of credit risk, conduct stress testing scenarios to assess the resilience of the investment portfolio under adverse economic conditions and provide assistance in maintaining, calibrating and improving the code of existing models.
Key Duties & Responsibilities :
Work independently & under general supervision utilizing tools and metrics for statistical credit risk analysis (including among others estimation of PD, LGD, EAD and internal risk rating migrations) to help build solutions for the management of credit risk
Provide assistance for data assurance, data aggregation, and analysis in support of both existing and the development of credit risk models
Analyze large datasets to identify trends, patterns, and correlations that impact credit risk, and use this analysis to inform model development
Conduct stress testing scenarios to assess the resilience of the GAO investment portfolio under adverse economic conditions
Provide assistance in maintaining, calibrating and improving the code of existing models
Develop data tables within existing databases that allow models to run more efficiently.
Recommend technology-based tools and product enhancement to perform credit and statistical data analysis more accurately and efficiently.
Area of Impact -
The immediate positive impact will be on the Credit Ratings team. However, there will significant secondary positive impacts which will flow to the whole organization through the work that is done by the team, namely dynamic credit risk oversight and asset allocation for the GAO, the measurement of potential capital at risk and contribution to the oversight of TIAA’s Asset Liability Management (ALM), Interest Rate Risk and Credit Risk Management functions.
Problem Solving :
The nature of the role requires the incumbent to posses strong analytical and credit quantitative skills with a proven ability to develop and implement quantitative models to assess and manage credit risk .
Functional Knowledge:
In-depth knowledge and proficiency in quantitative analytics and statistical modeling with the ability to provide examples of such work and describe in detail their choice of modeling techniques
Coding proficiency and experience in Python, SQL, R, MATLAB
Experience with the analytics of provide credit
Financial market knowledge – knowledge of equity markets, bond markets, credit spreads and ratings
Knowledge of fixed income pricing and equity pricing analytics. They should understand the concepts of duration and convexity and demonstrate or know how to code an algorithm to calculate these measures.
Business or Industry Expertise:
General understanding of how asset management firms work
Experience with financial markets and have an understanding of the fixed income and equity asset classes.
Interactions / Interpersonal Skills:
Ability to work well with others, build and strengthen partnerships, effectively interact with various stakeholders, and the willingness to take individual initiative
Ability to work with deadlines and incomplete information
Ability to communicate clearly over Zoom
Required Education:
A Master’s or Ph.D. in quantitative finance, mathematics, statistics, or a related field
Specialization in Statistics, Finance, Mathematics, Engineering or the Physical Sciences
Preferred Education:
FRM, CFA, Master's degree in Applied Mathematics / Statistics / Computer Science/ Physics / Engineering, Quant Finance or related field. Knowledge of machine learning techniques and their application in credit risk modeling
Required Experience:
5-10 yearsQuantitative Analytics, Financial Risk Management, coding, model building, database management
Preferred Experience:
5 Years Financial Risk related experience with at least 3-5 years current / ongoing credit quant experience
Skills and Abilities:
Understanding of Financial risk including credit risk, market risk, investment risk and valuation, and model risk, amongst others
Previous experience working in either Banking/Investment Banking, Credit Rating Agency, Asset Management and/or Insurance firm desired
Proficiency in Python, SQL, R, MATLAB, MS tools, or equivalent tools
Experience/proficiency with credit risk vendor models such as Moody’s EDF-X, CMM, RiskCalc or MPA
Knowledge of Capital Markets
Proficiency in Mathematics and Statistics
Experience in loss forecasting (PD, LGD, EAD, etc), risk modeling, credit risk management and/or stress testing at a Banking or Financial Serivces firm preferred
Ability to demonstrate strong problem solving, analytical mindset, communication, and people management skills.
Good knowledge of Technology, Risk Tools
Good knowledge on Risk / Reward analysis
Preferred Licenses/Certifications:
Certified in any(Preferred) :
FRM certified from GARP
Chartered Financial Analyst (CFA)
Sustainability and Climate Risk certified from GARP
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
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/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.
Accessibility Support
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: accessibility.support@tiaa.org
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TIAA started out over 100 years ago to help ensure teachers could retire with dignity. Today, many people who work at not-for-profits rely on our wide range of financial products and services to support and strengthen their financial well-being.
Privacy Notices
For Applicants of TIAA, Nuveen and Affiliates residing in US (other than California), click here (https://www.tiaa.org/public/tiaa-nuveen-privacy) .
For Applicants of TIAA, Nuveen and Affiliates residing in California, please click here (https://www.tiaa.org/public/tiaa-nuveen-ca-privacy) .
For Applicants of Nuveen residing in Europe and APAC, please click here (https://www.tiaa.org/public/nuveen-eu-uk-privacy) .
For Applicants of Greenwood residing in Brazil (English), click here (https://www.tiaa.org/public/support/privacy/applicants-greenwood-privacy) .
For Applicants of Greenwood residing in Brazil (Portuguese), click here (https://www.tiaa.org/public/support/privacy/applicants-greenwood-portuguese-privacy) .
For Applicants of Westchester residing in Brazil (English), click here (https://www.tiaa.org/public/support/privacy/applicants-westchester-privacy) .
For Applicants of Westchester residing in Brazil (Portuguese), click here (https://www.tiaa.org/public/support/privacy/applicants-westchester-portuguese-privacy) .
Nondiscrimination & Equal Opportunity Employment
TIAA is committed to providing equal opportunity across all employment practices and we believe our employees have a right to a diverse and inclusive workplace.
EEO is the Law (https://assets.phenompeople.com/CareerConnectResources/TIAAGLOBAL/documents/22-088_EEOC_KnowYourRights-1688394514088.pdf)
Pay Transparency
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