What are the responsibilities and job description for the Credit Analytics Officer position at Live Oak Bank?
About Us
Live Oak is more than a bank. Live Oak helps people realize their full potential so they can create meaningful impact at work, home or in their communities. As an innovation hub, we fully embrace a bold approach to solving problems and surpassing goals. Daily life at Live Oak centers around a culture of taking care of each other, which has made us one of the most desirable places to work. We’ve topped the list of American Banker’s “Best Banks to Work For” because of our unparalleled dedication to our people. Our commitment to our customers and our culture is intertwined, so we seek those who embody and embrace what it takes to empower the American dream. Learn more at liveoakbank.com.
How This Role impacts Live Oak and its People
The Credit Risk Analytics Officer will be responsible for providing statistical analysis and econometric modeling for Live Oak’s commercial loan portfolio. The Credit Risk Analytics Officer supports Live Oak’s credit team in identifying, measuring, and monitoring the Bank’s credit risks and exposures to maintain safety and soundness.
What You’ll Do at Live Oak
- Lead production and oversight of the Current Expected Credit Losses (CECL)/Allowance for Credit Losses (ACL) methodology and reporting estimations
- Perform data extraction, aggregation, and quality assurance from various data sources to create data sets used in the CECL/ACL estimation process
- Understand existing and proposed credit loss models and CECL/ACL methodologies including the data inputs and structures
- Identify enhancements to data inputs for CECL/ACL models and data structure
- Document business needs and determine impacts of development and maintenance activities on existing models and data structure
- Building of financial models that predict credit risk exposure to the organization
- Develop, maintain, and enhance credit model policy, processes and procedures.
- In the context of credit risk strategies, provide credible challenge to model’s business assumptions in model development (such as the appropriateness of the development population, dependent and independent variables); stipulate limitations and restrictions as appropriate on the use of the models.
- Independently assess model’s ongoing performance to ensure models continuously perform and are used as expected.
- Provide ongoing credible challenge to model risk ranking and model inventories for completeness and accuracy; Validate assumptions and empirical evidence used in deriving model risk ranks
- Aggregate model risk across all credit models, develop management reports and communicate model risk to managers and regulators/auditors.
How You’ll Do It
- Develop and maintain ACL model including back-testing and adjustments to qualitative components.
- Develop and maintain new financial models managed within the Credit function
- Collaborate with Internal and External Auditors, Bank Examiners, and Model Validation personnel
- Maintain procedural documents, data, and calculation reference material
- Develop executive-level reports and dashboards to summarize results
- Participate in the development of new ALLL model(s) and methodology
- Research and analyze historical data
- Draft and present reports to internal business units
- Perform ad hoc analytics on large/diverse datasets using various tools and techniques to assist Credit, BAG, SAG, and Executive Management
- Develop and maintain reporting programs to provide data and analysis used in periodic studies on the loss emergence and look-back periods
- Collaborate with Finance and Risk to assess portfolio credit risk and track policies and procedures
- Apply models, third party data, and other tools to provide insight into portfolio risk
Required and Preferred Experience
- Relevant undergraduate degree (business, statistics, mathematics, data science, etc.)
- 5 years of experience in model development, data science, or statistics
- Experience working with large data sets and visualization tools- Tableau preferred
- Experience managing projects preferred
- Experience with a statistical programming language preferred
- Working knowledge of financial regulations
Required to Thrive at Live Oak
- Dedication – You possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.
- Ownership – You take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.
- Innovation – You embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.
- Teamwork – You foster collaboration, accountability and trust with others and understand that together, we do more.
- Respect – You treat everyone with courtesy, politeness and kindness.
“The above statements are intended to describe the general nature and level of work being performed by the incumbent assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and/or skills required of all personnel so classified.”
Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at
careers@liveoak.bank
EEO is the Law
Commitment to Diversity
Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills, experience, and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.
Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills, experience, and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.
Salary : $97,300 - $123,000
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