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Principal Financial Modeling
Discover Financial Services
Riverwoods, IL, United States
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Discover. A more rewarding way to work.
At Discover Financial Services, you’ll find yourself in the company of some of the industry’s smartest and most reliable professionals. And at a company that rewards dedication, values innovation and supports growth.
Thrive in an environment that promotes teamwork and shared success. Build on a foundation of mutual respect. Join the company that understands rewarding careers like no other, with this exceptional opportunity:
Job Description:
At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee-focused as it is on its customers and is consistently awarded for both. We’re all about people, and our employees are why Discover is a great place to work.Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career.
Discover’s Financial Modeling team is looking for a Manager to develop, implement, and manage an automated Current Expected Credit Loss (CECL) production environment that involves data preparation, statistical model execution and result reporting. Residing in Discover’s Corporate Finance department, Financial Modeling is a centralized team responsible for producing Current Expected Credit Loss (CECL) and Pre-Provision Net Revenue (PPNR) forecast used in capital stress testing, liquidity stress testing, and resolution planning. It covers all Discover’s direct banking and payment service products. The team was created to provide greater emphasis on the financial forecasting activities required to support the Allowance for Credit Loss (ACL) and capital planning process.
Responsibilities:
• Develop, implement, and test data aggregation algorithms, model execution programs, and management reporting required for CECL production
• Work with cross functional teams including Model Development, Accounting, Technology, and Project Management Office to implement, test, and document the CECL production environment
• Execute model runs, validate results, develop attribution analysis for loss projections in various economic scenarios, and present to management and stakeholders
• Collaborate with Risk & Control team to set up controls and documentations on the end-to-end CECL production process that involves data preparation, model execution, report generation, qualitative review, and management sign off.
• Develop a thorough and in-depth understanding of CECL standards and its implication in loss forecasting
Skills:
Minimum Qualifications
At a minimum, here’s what we need from you:
• Master’s Degree in information technology, engineering, finance, economics, or related fields
• High proficiency in SQL and SAS. Quick learner of new programming language or computer systems
• 5+ years of experience in risk strategy, loss forecasting, modeling, or application development related activities
• Excellent written and oral communication skills. Ability to work with cross functions teams and present complex business requirements and financial forecast results to different level of audiences
• Business knowledge in credit loss forecast, loan loss reserves, and capital stress testing is a plus
• Technical knowledge in AxiomSL, Redshift, Python, Java, H2O is a plus
What are you waiting for? Apply today!
And by the way, while you’re waiting to hear from us, don’t forget to check out the great benefits Discover offers.
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We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.