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Nuveen Investments Associate – mortgage credit risk quant - 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 provide rigorous quantitative and qualitative analytical credit analysis of the Commercial Mortgage Loans and Residential Whole Loan portfolios. The individual will manage and continuously enhance the independent credit risk oversight of TIAA’s portfolio. The analyst will perform portfolio risk analysis including scenario analysis, sensitivity tests, and stress testing and provide effective credit risk advice to the risk management stakeholders.

Key Duties & Responsibilities :

  • Oversee the credit risk management process, the execution of internal risk rating system, and the data and reporting management at the loan-level and portfolio-level for the Commercial Mortgage Loan and Whole Loan portfolios.

  • Work independently & under general supervision utilizing tools and metrics for statistical credit risk analysis (including among others estimation of PD, LGD, Expected Loss and internal risk rating migrations) to help build solutions for the management of mortgage credit risk

  • Provide effective credit risk advice to risk management stakeholders and drive the continuous improvement of the execution of the internal credit risk management system.

  • Develop portfolio-level credit risk analysis to identify credit risk migration, the trend, risk concentrations, and emerging risks and develop risk mitigation strategies.

  • Develop executive-level reports and presentations for the senior management, the Board and the regulators.

  • Partners with other functions across the organization to ensure consistency in processes, assumptions, definitions and methodologies.

Area of Impact

The immediate impact will be on the Credit Ratings team but the secondary impacts will flow to the whole organization through the work that is done by the team, namely dynamic asset allocation for the GAO, the measurement of potential capital at risk and and the oversight of the firm’s Asset Liability Management (ALM) , Interest Rate Risk and Credit Risk Management. The analyst has exposure to senior leaders across risk management, asset management, portfolio management, and other financial services teams.

Problem Solving

The nature of the role requires the incumbent to posses strong analytic and quantitative skills and a proven ability to provide quantitative and qualitative analytical credit analysis of the Commercial Mortgage Loans and Residential Whole Loans.

Functional Knowledge

  • Experience using standard credit risk evaluation tools such as: Intex, Trepp, Markit, Bloomberg, and Yieldbook.

  • Experience working with Commercial Mortgage Loans and Residential Whole Loans portfolios, knowledge of the collateral and the drivers of refinancing, prepayments and default.

  • Knowledge of credit risk and its impact on corporate bond pricing and fixed income asset classes in general

  • General 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 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

  • Strong communication skills with a demonstrated ability to build and strengthen partnership, effectively interact with various stakeholders, and the willingness to take individual initiatives

  • Ability to work with deadlines and inconsistent information

  • 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:

Other

FRM, CFA, Master's degree in Applied Mathematics / Statistics / Computer Science/ Physics / Engineering, Quant Finance or related field

Required Experience:

5-10 years

Credit Risk Analysis, Financial Risk Management, coding, model building, database

Preferred Experience:

5 Years Financial Risk related experience with at least 3-5 years current / ongoing 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 a Investment Banking, Credit Rating Agency, Asset Management and/or Insurance firm desired

  • Proficiency with Intex, Trepp, Markit, Bloomberg, and Yieldbook. or equivalent tools

  • Knowledge of Capital Markets

  • Proficiency in Mathematics and Statistics

  • Experience in Banking and Financial Serivces preferred

  • Able 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

  • 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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