Summary of Responsibilities:

The Sr. Specialist, Model Development is responsible for developing and maintaining sophisticated empirical models – including pricing and credit risk models. 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 analyst 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.

Essential Functions:

  • Participates in the construction 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.
  • Identifies modeling needs and communicates them to the Director Quantitative Modeling.
  • 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 for analytic projects.
  • Provides requisite information in support of independent model validation activities.
  • Develops a thorough understanding of the firm’s operations and business practices.
  • Supports Model Validation and documentation of models in accordance with Santander Consumer USA internal policies and U.S. Federal Reserve regulations (SR 11-07).

Other Functions:

  • Other duties as assigned.


  • Education –
    • Bachelor’s Degree: Statistics, Economics, Operations Research, Applied Mathematics, or a related quantitative discipline required or equivalent 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 –
    • 3-5 years Analytics in Financial Services Industry.
    • 3-5 years Indirect subprime Auto Financial Services Industry experience.
    • 3-5 years Prior experience developing credit scoring models preferred.
  • Skills & Abilities –
    • Familiarity with logistic regression models, segmentation and variable reduction techniques, hypothesis testing, neural networks, design of experiments, ANOVA, decision trees, and linear regression.
    • Prior experience working with credit bureau data strongly preferred.
    • Prior experience using SAS, SQL, R, Python to extract data, manipulate large datasets, and build statistical models.
    • Demonstrated ability to create complex pivot tables in MS Excel.
    • Ability to effectively explain advanced mathematical concepts, techniques, and analyses to a business audience.
    • Ability to structure analysis and independently problem solve.
    • Ability to translate analysis into a clear business plan.
    • Strong written and verbal communication skills.
    • Ability to maintain confidentiality.

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.