Senior Credit Risk Modeler – Scorecards
London / £50000 - £68000
£50000 - £68000
Senior Credit Risk Modeler
£67,000 + Competitive Benefits
A FTSE 100 business with offices across the UK is seeking an experienced Credit Risk Modeller with Scorecards experience to join a top analytical team leading the way in terms of Decision Science and Credit Risk Modelling. This is a fantastic opportunity for a capable Credit Risk Modeller to progress their career both on the statistical modelling side and commercial aspects of driving acquisitions and collections strategies. The company have ambitious plans for growth and are looking for a Decision Scientist that will help drive the business forward, initially through the development of Application and Behavioural Scorecards
- Opportunity to develop Scorecards across the customer lifecycle including Application and Behavioural
- Analyse current strategies and work proactively to make cut-off adjustments
- Work with stakeholders to improve model use and strategies
- Think creatively to improve team Scorecard development efficiency
SKILLS AND EXPERIENCE:
- Experience developing Scorecards Models in a Credit Risk team is essential
- Experience maintaining and monitoring Credit Risk Models is required
- Experience working on credit strategies is an ideal 'nice to have'
- Strong SAS skills required
- Highly numerate degree required
- Competitive Benefits
- Join an industry leading team renowned for producing experts in Credit Risk Analytics
- Amazing office space
Credit Risk, Analyst, Scorecards, Application, Behavioural, Model, SAS, SQL, IRB, PD, EAD, LGD, Capital and Impairment, Probability of Default
Risk Analytics Landscape: 2022 | Harnham Recruitment post
2022 is set to be an interesting year for Risk Analytics. According to research, the risk analytics market is expected to be worth around $54.95bn by 2027 and is experiencing a huge degree of interest due to a combination of different factors coming together at once. The growth of business procedures and increasing deliverables are driving demand for techniques such as risk measurement, whilst rising incidents of cyberattacks combined with rising digitization are further catalysing the Risk Analytics market. Not to mention the impact that different macroeconomic elements are having, such as coming out of the pandemic, remnants of Brexit and rising inflation rates. Within the risk space, all of these variables are feeding into the way that both candidates and clients are making their decisions. Industry developments have a direct impact on the recruitment market, with trends being reflected in the needs and desires of both employees and employers. With risk coming to the forefront for many businesses, it isn’t surprising to see a surge in the demand for talent. Risk under the spotlightNumerous developments across the financial sector have made the skills that risk analysts have increasingly invaluable. The pandemic forced many companies to digitize and move to remote and cloud-based working systems, making security a company-wide concern. This has driven demand for the right talent to fill risk roles but also a greater willingness to dedicate more of their budget into investing in their risk functions and/or departments.The fraud risk spaceThe increase of remote working combined with a general trend of digitization has brought with it concerns around fraud. Headlines highlighting a ‘fraud epidemic’ have been circling with reports of fraud and cybercrime in the UK rising from 3,983 cases to 8,614 in a year. Digitization offers opportunities for company growth but if not securely managed, can serve up opportunities for criminals to exploit. Fraudsters are becoming increasingly inventive, and steps must constantly be taken to stay one step ahead. The skills that risk analysts have are essential in understanding the drivers to fraud within a business and ultimately how to prevent it.The rise of unregulated products and technologiesInnovation within the financial industry is also flourishing. The emergence of AI and adoption of more advanced technologies to better inform decision making, as well as the introduction of machine learning and data science into risk analytics, makes it an exciting time to be in the risk analyst field.New unregulated products and technologies have also flooded the market, such as crypoassets, decentralized finance and non-fungible tokens (NFTs). About 2.3 million people in the UK are now thought to own a crypto asset, creating a playground for fraudsters looking to misuse unregulated tech. Data reveals a staggering £146,222,332 has been lost to cryptocurrency fraud since the start of this year, and unless regulators are able to catch up with the ever-evolving nature of crypto, this will rise. As a result, there is expected to be a lot of regulatory changes this year to increase protections against consumer risk but also within financial institutions. This tends to stimulate demand within sectors such as risk analytics as well as causing shifts of focus within departments.Risk analyst salariesSalaries within the sector are currently being pushed upwards, largely due simply to supply and demand. Throughout the pandemic, most companies didn’t hire Risk Analysts, if anything, they let go of them. Recently, there has since been a spring coil reaction of demand for Risk Analysts and Risk Managers, to an extent not seen for years. To add to this there is a lack of talent, and candidates are increasingly asking for more because they know of the trend.Although it’s impossible to know for how long this might be the case, the recent mass movement of candidates since COVID-19, means that by the end of the year some candidates may have been at their new job for over a year and may be looking to move again. Supply could begin to creep up and start meeting demand, but only time will tell. This imbalance between supply and demand means that candidates are finding themselves in the unique position of being able to choose between job offers, and can therefore afford to fine-tune and find better suiting roles. It’s well known that it’s a candidate market, but it’s a really good time to explore roles out there and consider your current position.Ultimately if job searchers are looking at their current situation and thinking about whether there’s something better out there, there is not a better or more exciting time to be looking for a role in Risk Analysis.If you’re looking for your next opportunity or to build out your Credit Risk or Fraud Analytics team, Harnham can help. Take a look at our latest Risk Analytics jobs or get in touch with one of our expert consultants to find out more.
How To Get Started In Risk Analytics | Harnham Recruitment post
Risk Analytics has been an integral part of teams across several industries for years. After the 2008 financial crash, whereby $8 trillion was wiped from the stock market’s value in the space of two days in the US alone, the need for businesses to be savvier and more ‘switched on’ to the potential downturns and crises the economy may face was imperative. The kind of devastation the financial crash caused in a matter of days had knock-on effects to businesses of all shapes and sizes for years afterwards, and nobody could risk the same level of destruction again. For a long time prior to this key event, it wouldn’t be an exaggeration to suggest that a lot of business owners and C-Suite executives depended on gut instinct to make critical business decisions. But, as we began to enter not only a more economically turbulent time but also an era that became dominated by technology, the need for hard evidence to support ‘intuition’ was crucial.With endless reams of data now at our fingertips, which has only evolved in reliability and accessibility over the decades, companies’ ability to manage risk-related issues through state-of-the-art technologies and tools is changing. And because of the capabilities of said technologies, companies are now able to look further than just financial risk; competitor risk, supply chain risk, technical risk, these are all everyday examples of where Risk Analytics come into play. It’s clear Risk Analytics is a crucial part of businesses today, and its importance will continue to take centre stage as we move into an even more technological and data-driven era, but where do you begin if you’re considering becoming a Risk Analyst?Are you the right fit for the job?You need to be sure that risk analysis is truly for you. As with any job, skills are something that can built upon, but a good attitude, willingness to learn and some core characteristics will set you up in good stead too. Risk Analysis suits individuals with a keen eye for detail and are unafraid of spending time going through data with a fine-tooth comb to unearth any anomalies that could present themselves as serious risks later down the line. A love of and proficiency with numbers will also be a brilliant asset to bring to the role, along with an interest in data analysis. While most of the job will most certainly be dealing with the hard facts and figures, you’ll also need to be someone who is comfortable with communicating in an open and jargon-free manner. Ultimately, you’ll be responsible in not only identifying potential risks, but feeding the information back to members of the team who have no prior knowledge of data and analytics, as well as giving them viable solutions to avoid or reduce any risk where possible. That sounds like me, what’s next?Great! So, if you think you’ll be a perfect fit, the next step is to think about which route you want to take to get your foot in the door. As per a lot of Data & Analytics roles in this day and age, a university degree isn’t necessary, but it is still favoured amongst many employers. Nevertheless, just because you don’t have a degree doesn’t mean you won’t be considered, so keep your options open. Diplomas or online study courses are two other brilliant avenues to take as well. Of course, if you’re a total whizz, you may have a lot of skills and knowledge on a self-taught basis which is fantastic. Before applying for a job in Risk Analysis however, make sure you have some extra-curricular learning under your belt to showcase your initiative and drive to learn. Do I need to have experience?Much like university, while not a mandatory requirement for all Risk Analysis jobs, having work experience within your portfolio will put you a significant step ahead to your peers who may not have had that hands-on learning. Do I need to know how to code?Analysts who code will always be in demand, and the sharper and more on top of those skills you are, the better. Different employers will work with different languages, but the most common are Python, SAS, C++ and Java. Ensure you’re always learning too. Code is an element of all Data & Analytics roles that is always evolving, and employees who fall behind in their knowledge will very quickly see a drop in their ability and productivity. What can I expect from a role in Risk Analytics?Each day in this role will be completely different. The challenges you may come up against will change rapidly, especially if you are based in a fast-moving sector such as Finance or Banking. You’ll need to be prepared to work under pressure and showcase impeccable problem-solving skills. At entry-level, you can expect to be taking home a salary of around £20,000, or just over $60,000 in the US. For those who show eagerness to learn, initiative and determination to always better their understanding of risk analysis, progression opportunities are vast here too. With the right attitude and mindset, reaching the top of the career ladder can see employees earning in the remit of £75,000+ / $191,000+. Risk Analytics is an incredibly exciting role, and the demand for highly skilled analysts will undoubtedly continue rising, especially as we recover from the pandemic and companies look to implement firmer, more grounded, risk-management procedures in place.If you would like to learn more about Risk Analytics, take a look at our risk analytics jobs or get in touch with one of our expert consultants to find out more.
Why choose a career in credit risk | Harnham US Recruitment
If your education and work experience have given you solid skills in diligence, quantitative analysis, computer software and communication, then you’re well on your way to becoming a highly valued member of the workforce. But why would a career in Credit Risk be a good choice over the myriad of other jobs that would welcome someone with those particular skills? Here are a few compelling reasons: It’s a very lucrative professionWith a huge proportion of your life taken up by work, nobody should do a job purely for the money. The monthly paycheck may look nice on your bank balance, but there’s a lot to be said for being in a job that makes you happy, not just rich.There’s no denying that a Credit Risk Analyst salary is a good one, with research from payscale.com suggesting the average salary sits at just over $80,000 with bonuses potentially adding another $10,000 to that figure. The benefits that come with that aren’t to be sniffed at either. With companies competing for the best talent, they need to be come up with a range of added extras to tempt candidates including holiday allocations well above average, private medical insurance and flexible work patterns. It’s a job that’s based on dataAfter the industrial age and the technological age, now many analysts say we’re now living in the data age. Never before has it been easier to collect, collate and cross-reference information from a vast number of sources. You no longer need to rely on a basic credit report and salary history to make a sound assessment of creditworthiness. Many roles have been revolutionized by so-called ‘Big Data’ and credit risk jobs are no different. It’s a role that has always been governed by information, and the more you have at your disposal, the better decisions you’ll be able to make and the better strategies you’ll be able to put together. There’s a positive job outlookA study from Oxford University suggests Credit Analyst sits 26th on a list of roles most at risk from automation, sitting just above Parts Salespersons and below Milling Machine Setters. However, contrary to this and other reports that AI is going to make all our jobs redundant in the not-too-distant future, Credit Risk is an area that’s actually expected to grow; data from the US Bureau of Labor Statistics suggest an increase of 10% between 2012 and 2022. While computers can do an excellent job of presenting data, there’s a huge amount of human interpretation that needs to be done to deliver reasoned and thorough insight – humans may not be perfect, but nobody wants to put a potential repeat of the 2008 economic meltdown in the hands of machines. There’s an excellent career pathMany of those sitting in boardrooms in some of the country’s biggest companies will have begun their careers in Credit Risk. It’s a position that gives you an excellent insight into the interests of the company you’re working for as well as the typical applicants you’re assessing. Whether you decide to climb the credit risk ladder to more senior finance positions or branch out into sales or marketing functions, this grounding of business acumen and customer insight is sure to stand you in good stead. For the latest opportunities at Harnham, take a look at our credit risk jobs here
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