Overview
Our CECL (Current Expected Credit loss) Quantitative Modeling Team operates at the heart of the Lending Business unit, building accurate credit loss forecasting models through advanced statistical technique, and playing a pivotal role in ensuring the financial stability of Navy Federal Credit Union by informing CU leaders the right level of credit reserve recommendations. Our team's primary responsibility is to develop and implement advanced quantitative models that enable accurate assessments of potential credit losses across our lending portfolio.
The Summer Associate will work in a flexible hybrid manner and report to leadership at our Vienna, VA campus. Responsibilities will include analyzing data and participating in activities related to quantitative modeling. As part of the team, you will have the chance to work on real-world projects, collaborate with seasoned professionals, and contribute to impactful initiatives. You'll gain exposure to quantitative modeling techniques commonly employed by nation's largest financial institutions, and learn analytical skills applied to large financial data.
Potential projects include following.
Investigating and analyzing potential model performance-improving independent variables
Analyzing model performance and understanding the cause of prediction errors
Finding potential performance-improving changes to the existing models
Model sensitivity analysis
Analyzing portfolio shifting and its impacts
Economic research relating to portfolio performance
Automating modeling related activities using R or Python
The Summer Associate Program is a 12-week internship program beginning in May 2024 and ending in August 2024. Students will work on impactful projects and meaningful work during their internship. To qualify for this position, applicants must be currently pursuing a degree from an accredited college or university and have an anticipated graduation date of December 2024 or later.
Responsibilities
Perform data pull from source data systems and prepare data for analysis or model development
Analyze data to understand its impact on model performance
Participate in model development, model execution and model monitoring related activities
Work with experienced modeling professionals within the team to support various initiatives
Perform other ad hoc analysis
Prepare reports of analytical findings
Qualifications
Currently pursuing a master's or PhD degree in a quantitative field like statistics, computer science, data science, quantitative finance, or economics
Experience with research, analysis, and data manipulation
Experience using programming and analytic tools such as: Python, R, SQL, or Tableau
Strong problem-solving, critical, and analytical thinking skills
Good communication and presentation skills
Comfort working with large datasets and understand the basic database concepts
Ability to work independently and think outside of the box
Basic knowledge of financial services/payments a plus
Hours: Monday - Friday 8:00AM - 4:30PM
Location: 820 Follin Lane, Vienna, VA 22180 | 5550 Heritage Oaks Dr Pensacola, FL 32526
Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report onsite 4-16 days each month. The number of days reporting onsite will ultimately be determined by the employee's leadership and business unit needs. You will learn more throughout the hiring and onboarding process.
About Us
You have goals, dreams, hobbies, and things you're passionate about-what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them-friends, family, and passions. And we're looking for team members who are passionate about our mission-making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:
- Military Times 2022 Best for Vets Employers
- WayUp Top 100 Internship Programs
- ForbesR 2022 The Best Employers for New Grads
- Fortune Best Workplaces for Women
- Fortune 100 Best Companies to Work ForR
- ComputerworldR Best Places to Work in IT
- Ripplematch Campus Forward Award - Excellence in Early Career Hiring
- Fortune Best Place to Work for Financial and Insurance Services
Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
REQNUMBER: 14119-OTHLOC-300000025810540
