Overview

Job Family: Product Development & Management

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.

Job Function: Pricing

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.

Summary of Responsibilities:

The Manager, Model Development develops and maintains predictive models including credit scoring models for an auto lender.

Essential Functions:

  • Supervises 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.
  • Develops the underlying assumptions, theory, empirical evidence, and conceptual soundness of statistical and mathematical models.
  • Applies statistical techniques to analyze trends and uncover risks and opportunities relative to portfolio management and originations.
  • Uses internal and external data sources to create robust model development datasets.
  • Ensures modeling projects are conducted in accordance with established company policies and generally-accepted mathematical modeling practices.
  • Assesses department procedures for accuracy and completeness.
  • 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 senior management decision-making.
  • Liaisons with IT and other internal teams to define requirements and ensure the timely and accurate delivery of data elements required for analytic projects.
  • Provides requisite information in support of independent model validation activities.
  • Participates in the professional development of junior-level statisticians.
  • 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 –
    • Bachelor’s Degree: Statistics, Economics, Operations Research, Applied Mathematics, or a related quantitative discipline required or equivalent experience.
    • or equivalent work experience
    • Master’s Degree: Statistics, Economics, Operations Research, Applied Mathematics, or a related quantitative discipline required or equivalent experience.
    • Ph.D.: Statistics, Economics, Operations Research, Applied Mathematics, or a related quantitative discipline required or equivalent experience.
  • Experience –
    • 5-9 years Model Development experience.
    • Prior experience developing credit risk models..
    • Prior experience in auto finance.
    • Prior experience working with credit bureau/third party vendor data.
    • Prior experience supporting model validations with model risk management groups
  • Skills & Abilities –
    • Ability to supervise and take a lead in projects.
    • 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.
    • Strong PC skills including Microsoft Office and Collection applications.
    • Excellent communication and negotiation skills a must.
    • Superior industry/product knowledge.
    • Proven leadership skills and abilities necessary to leverage functional partner relationships across the corporation
    • Must be a strategic thinker, able to execute at a tactical level
    • Proven ability to leverage technology in business operations
    • Ability to convey a sense or urgency and drive.
    • 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

Competencies:

  • Change Orientation – Flexibility:
    • Proficient – Applying and Executing
      • Adapts quickly to change and makes suggestions for increasing the effectiveness of change
      • Appropriately shifts attention and refocuses on new goals as a result of changes in priorities or competing work demands
  • Customer Focus – Customer Understanding:
    • Proficient – Applying and Executing
      • Probes in-depth to understand the customer’s business needs
      • Explores and understands the customer’s alternatives and decision criteria
  • Execution – Accountability:
    • Proficient – Applying and Executing
      • Follows through to meet commitments to others
      • Takes responsibility for achieving strong results, despite balancing multiple complex demands
  • Influence – Two-way communication:
    • Proficient – Applying and Executing
      • Communicates in a timely and straightforward manner
      • Probes for additional information, clarifies assumptions and confirms agreed-upon actions
      • Keeps everyone involved informed about progress and issues
  • Problem Solving – Solution Definition:
    • Proficient – Applying and Executing
      • Sees through complexity and detail to get to the critical issues at hand
      • Takes into account the wider context within which problems exist
  • Risk Business Acumen – Industry Acumen:
    • Proficient – Applying and Executing
      • Stays current with industry and regulatory trends and emerging risk issues
      • Has good understanding of current market and competitive landscape that the organization operates within
  • Risk Business Acumen – Product Knowledge:
    • Proficient – Applying and Executing
      • Understands the relevant products and services and the markets in which they are sold and their risk return to the organization
      • Can identify and speak to major operational issues across the organization
  • Risk Management – Continuous Process Improvement:
    • Proficient – Applying and Executing
      • Proactively works to streamline processes and identify and eliminate redundancies
      • Contributes to the implementation of new methods, policies, processes, procedures, or techniques
      • Independently performs monitoring and testing of processes

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.