Overview

Summary of Responsibilities:

The AVP of Model Development and Pricing develops and maintains predictive models including credit scoring models for an auto lender and prepares analysis to increase corporate profits through pricing opportunities. The position is highly quantitative in nature and requires an individual capable of taking a “hands on” approach to data analysis. This position is furthermore responsible for summarizing and reporting information to a variety of internal and external clients. The associate researches, develops and implements competitive pricing programs and/or banking products and services for various lines of business to appropriately price based on risk, deposit, or credit goals while maintaining profitability. Continuously monitors the market and competitor strategies to ensure pricing is in line to provide consumers and/or clients a fair price while maintaining market share and/or deposit levels. Plans, directs and facilitates all phases of the pricing strategy changes from inception through introduction into the marketplace. Ensures products meet regulatory and industry standards. Develops and mentors a team of analysts.

Essential Functions:

  • Leads the development of complex mathematical models – including credit origination and customer behavior scorecards – which directly support critical decision making processes and the company’s overall understanding of our business, the markets within which we operate, and our customers.
  • Leads efforts to provide detailed quantitative analyses in support of new opportunities to improve profit and reduce risk.
  • Develops pricing strategies to improve pricing approaches and to maximize profitability.
  • Conducts champion/challenger initiatives, sets risk-based pricing, and engineers new programs for new markets, channels, or partners.
  • Builds and maintains business landscape knowledge.
  • Develops the underlying assumptions, theory, empirical evidence, and conceptual soundness of statistical and mathematical models.
  • Uses internal and external data sources to create robust model development datasets.
  • Utilizes data mining and statistical techniques to develop analytic insights, sound hypotheses, and informed recommendations.
  • Encapsulates analytic findings into executive-level summary documents to support executive management decision-making.
  • Drives monthly profitability reporting on originations and proactively monitors pricing and profit key performance indicators.
  • Develops team members by providing feedback on strength and growth areas, providing an environment that supports learning and development.
  • Drives relationships among business groups, IT partners, and other internal teams to implement models and programs.
  • Provides requisite information in support of independent model validation activities.
  • Develops a thorough understanding of the firm’s operations and business practices.
  • Takes a lead role in supporting Model Validation and documentation of models in accordance with Santander Consumer internal policies and U.S. Federal Reserve regulations (SR 11-07).

Other Functions:

  • Other duties as assigned.

Supervisory Responsibilities:

Manages subordinate managers and professional staff. Is responsible for the strategic guidance, development and evaluation of employees. Carries out supervisory responsibilities in accordance with Santander’s policies and applicable laws.

Requirements:

Education –

  • Master’s or Ph.D. in Statistics, Economics, Engineering and Operations Research, Applied Mathematics, or a related quantitative discipline required or equivalent experience.

Experience –

  • 9-12 years in Financial Services Industry.
  • 9-12 years of Statistical Model Development and Pricing experience.
  • Prior experience in auto finance and originations credit risk modeling preferred.

    Skills & Abilities –

  • Ability to use statistical modeling techniques to increase profits.
  • Prior experience using a combination of SAS, SQL, R, and/or Python to extract data, clean data, and build statistical models and pricing strategies. Experience with MS Office.
  • Ability to supervise and formulate projects and business strategy, structure analyses, and independently problem solve.
  • Ability to work in a team setting and take lead in the project and provide guidance to other team members.
  • Superior proven ability to handle multi-dimensional projects, to execute accountabilities, and deliver quality results through multiple organizational areas not under his/her direct span of control.
  • Excellent communication and negotiation skills.
  • Superior industry/product knowledge.
  • Proven leadership skills and abilities necessary to leverage functional partner relationships across the corporation
  • Ability to interact with senior level management; experience interfacing with multiple levels of the organizational structure.
  • Ability to lead, influence and direct peers, subordinates and management.
  • Ability to maintain confidentiality.
  • Demonstrated ability to establish and enhance processes to improve business results.
  • Excellent organizational skills, attention to detail, personal ownership and drive towards results.

Working Conditions:

  • Frequently: Minimal physical effort such as sitting, standing, and walking.
  • Occasional moving and lifting of equipment and furniture is required to support onsite and offsite meeting setup and teardown.
  • Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

Employer’s Rights:

  • This job description does not list all the duties of the job.  You may be asked by your supervisors or managers to perform other duties.  You will be evaluated in part based upon your performance of the tasks listed in this job description.
  • The employer has the right to revise this job description at any time.  This job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.