Job description
Who We Are
Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our comprehensive suite of innovative and scalable embedded payments, cards, and lending products deliver financial services for millions of businesses and consumers around the globe. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion.
We are on a mission to build the infrastructure that propels access, inclusion, and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 6 years. The reason for this success is simple – our nimble and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation, and we invite passionate, collaborative, and motivated high performers to join our expanding team.
What We’re Looking For
We are seeking an accomplished and strategic leader to serve as our Head of Modeling, reporting directly to our Chief Data & AI Officer. In this pivotal role, you will lead our advanced modeling function and oversee our comprehensive model governance framework while driving innovation in our quantitative approaches across modeling organization. This will involve ownership of all modeling workflows including computational/mathematical as well as ML/AI models.
Responsibilities:
- Model Leadership & Governance: Serve as the principal Model Owner for all models developed within the organization, establishing best practices and ensuring adherence to regulatory standards.
- Strategic Model Development: Lead critical workstreams related to model production and reporting, with specific oversight of models supporting various business functions and regulatory requirements.
- Model Enhancement: Develop and implement sophisticated models utilizing cutting-edge statistical techniques and machine learning approaches to improve business decisions and risk management across the organization.
- Documentation & Controls: Ensure all models maintain robust documentation, monitoring plans, comprehensive model inventory management, and coordinated validation schedules.
- Regulatory Framework: Design and implement a sound model governance framework that ensures all models adhere to applicable regulatory standards and industry best practices.
- Cross-functional Leadership: Act as the primary liaison between the modeling team and various stakeholders, driving seamless collaboration and clear communication across departments.
- Regulatory Excellence: Partner with risk management teams to interpret and implement relevant regulatory guidance to ensure all modeling activities meet or exceed compliance requirements.
- Analytics & Reporting: Direct the development of BAU as well as specialized analytics and executive presentations to support critical business decisions and regulatory reporting requirements.
Qualifications:
- Advanced Education: PhD or Master’s degree in Statistics, Mathematics, Operations Research, Physics, or related quantitative discipline.
- Regulatory Modeling Expertise: Significant experience developing and implementing credit /compliance risk models with demonstrable impact on portfolio performance.
- Proven Experience: Minimum of 10+ years in Model Development or Model Validation, with essential front-office experience. Understanding of capital markets, securitizations, and consumer credit products required.
- Risk Management Expertise: Prior experience in a Model Risk Management or Model Risk Oversight function, particularly with Credit risk and/or compliance models, is highly desired.
- Technical Knowledge: Comprehensive understanding of relevant modeling frameworks, statistical methodologies, ML/AI paradigms and industry standards with specific expertise in regulatory compliance and credit risk modeling approaches.
- Leadership Style: Results-driven approach with strong project management capabilities; able to adapt to shifting priorities while maintaining focus on strategic objectives in a fast-paced environment.
#LI-JJ1 #LI-Hybrid #LI-Onsite
Salary Range: $210,000.00 - $230,000.00
Cross River is an Equal Opportunity Employer. Cross River does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.
By submitting your application, you give Cross River permission to email, call, or text you using the contact details provided. We will only contact you with job related information.
