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Quantitative Risk Modeler

Location: Full/Part Time: Full-Time Regular/Temporary: Regular

Job Description

Employee Perks

Why You Will Love Being Part of the Navy Federal Team:

*Competitive compensation with opportunities for annual raises, promotions, and bonus potential
*Best-in-Class Benefits! (7% 401k match / Pension plan / Tuition reimbursement / Great insurance options)
*On-site amenities include fitness center, wellness center, cafeteria, etc. at Pensacola, FL; Vienna, VA and Winchester, VA campuses
*Consistently Awarded Top Workplace
*Nationally recognized training department by TRAINING Magazine
*An employee-focused, diverse, and service-oriented workplace environment

Basic Purpose

Navy Federal seeks a Quantitative Risk Modeler with demonstrated ability to achieve results and enhance our quantitative analysis of financial performance. Experience with maintenance and processing related to Asset/Liability Management systems, in particular QRM, is preferred.  Come join our risk management team as we continue to enable prudent growth and exemplary service to our members.

As a Quantitative Risk Modeler within Financial Risk Management you will ensure the accuracy and robustness of Navy Federal’s Market Risk, Asset Liability and Credit Risk models.  You will develop financial models and conduct model validation activities, evaluate the conceptual soundness of models using both quantitative (statistical) and qualitative techniques, benchmark model performance using SAS, SPSS, MATLAB, or Excel/VBA and provide insight regarding model performance to management. 


• Develop financial models and conduct independent validation of key models used by Asset Liability Management and Navy Federal’s business units. This will require a thorough understanding of our model frameworks and how they influence our business decisions
• Verify model assumptions, review data sources and mathematical formulas to evaluate new models prior to acceptance and use
• Confirm correct model implementation and appropriate model use
• Provide an independent view on model reliability, stability, and robustness including back-testing and benchmarking with internal and external data
• Communicate the validation results to model users, appropriate governance committees, regulators and senior management
• Monitor model performance, review model changes and document model governance decisions to comply with model policy
• Partner effectively with all model stakeholders to understand potential business drivers of model variance and to ensure optimal outcomes for the model validation process

Required Knowledge, Skills & Abilities:

• Knowledge of financial analysis, financial modeling, validation and ALM theory and techniques, with preference towards hands-on experience. Understanding of, and prefer experience with, prepayment and credit loss modeling
• One to three years of experience with evidence of progressively significant responsibility in market risk, Asset/Liability management (ALM), credit risk or financial modeling within the financial services industry
• Demonstrated ability to analyze and interpret complex statistical and financial data
• Proficiency in using models, developing forecasts and mining data from a variety of systems and applications such as SPSS, SAS, MATLAB, Excel/VBA, MS Access, and SQL
• Persuasive and diplomatic communication, both verbal and written, of facts and conclusions related to complex analytical results and issues
• Effective interaction with all levels of management and staff as well as external entities (e.g. regulators, auditors and vendors)

Additional Expertise:
• Bachelor degree in quantitative discipline such as statistics, mathematics, physics, quantitative finance, economics or related field
• Advanced degree preferred

Preferred Experience:
• Quantitative Risk Management (QRM) experience or equivalent
• Experience in modeling approaches such as generalized linear modeling, survival analysis, time series analysis, etc.
• Demonstrated hands-on experience in capital loss and stress testing

Monday-Friday, 8:00AM-4:30PM

Equal Employment Opportunity


Navy Federal values, celebrates, and enacts diversity in the workplace.  Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans.  EOE/AA/M/F/Veteran/Disability