Loss Forecasting Manager - Remote

Published date Posted on Indeed on May 13, 2022 (14 d ago)
Level: Mid-Level

Reports To: Director of Loss Forecasting

Travel Required: Travel Not Required

VISA Support: No VISA Sponsorships Supported

Will this hire need to report to a specific location? No, you can work from anywhere.

  • Bachelor's degree in a quantitative discipline (such as statistics, economics, mathematics, operational research, engineering)
  • 5+ years with Credit Loss Forecasting
  • Strong knowledge of financial models, loss reserve planning, and stress testing
  • SQL database proficiency
  • Analytical and critical thinking skills
  • Experience with credit card portfolio loss forecasting preferred
  • Master's degree in a quantitative discipline
Job Description

The Loss Forecasting manager is a critical member of the Credit team and will have the ownership of loss forecasting and credit performance reporting. The incumbent will focus on helping the company meet or beat the loss target.

Duties and Responsibilities:
  • Develop and implement loss forecasting process and monitor forecasting accuracy
  • Monitor and adjust assumptions to ensure the forecast accurately reflects changing trends
  • Perform portfolio and vintage based loss rates forecast that include both micro and macroeconomic factors and present the results together with the assumptions to the management team
  • Perform credit loss forecasting and collaborate with the loss reserve team for CECL
  • Develop stress-testing procedures to ensure the company's safety and soundness throughout the economic cycle.
  • Contribute to loss forecasting models' development
  • Ensure the accuracy of loss assumption used at the time of acquisitions and used in securitizations
  • Ensure alignment between loss targets in the company's financial models, delinquency targets, and residual cash flows.
  • Cultivate a good working relationship with other business units, including Credit, Data Science, Operations, and Capital Market
  • Develop and maintain credit performance trend reports weekly, monthly and ad-hoc basis.
  • Perform trend analysis and 'actual vs. expected' analytics to determine primary drivers of the business problems or challenges
  • Respond to internal/external auditors and/or regulators for audited or regulated forecasting processes
  • Support collection team in setting performance goals
  • Support ad-hoc analytical requests
  • 5+ years of experience in credit loss forecasting and experiences with credit card portfolio loss forecasting are preferred
  • Strong knowledge of financial models, loss reserve planning, and stress testing
  • Bachelor's degree in a quantitative discipline such as statistics, economics, mathematics, operational research, engineering, or other quantitative areas, Master's degree preferred
  • Excellent communication and interpersonal skills
  • Strong analytical and critical thinking skills
  • Strong experience with SAS, Python, SQL database, and MS Excel. Must know how to automate the data flow using those platforms
  • Familiarity in statistical or other analytical techniques used in forecasting credit performance
  • Highly independent and self-motivated to form opinions that are supported by data

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