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Credit Risk Data Scientist
Req#: 493158
Updated: 02/11/2019
Job Type: Full Time
Location: Boston, MA
Salary: Commensurate with Experience
Benefits: Full Benefits
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Job Description


Cognition Financial develops custom underwriting and scoring models for unsecured consumer loans including private student loans. As part of an interdisciplinary team of technologists, analysts, statisticians, and modelers, the Credit Risk Data Scientist will be primarily responsible for building and maintaining the predictive models that characterize our data-driven decisioning processes. Cognition Financial’s 20+ years of student loan performance data will enable the Credit Risk Data Scientist to use the full range of modern analytics techniques such as Random Forests, Gradient Boosting, or Neural Networks, supported by an automated Machine Learning platform.

The Credit Risk Data Scientist will be involved in the full life-cycle of our loan portfolios, providing models and insight to support the design and underwriting of new loan products as well as optimizing the performance of our loan portfolios via bad rate models and other predictive approaches. The Credit Risk Data Scientist will also review our existing models and make recommendations for improvements.

The ideal candidate for this position should have at least 4 years of hands-on experience in the consumer banking industry and be familiar with the regulatory environment that governs credit risk underwriting. This role rewards creative multi-disciplinary thinking and willingness for life-long learning.




• Build and maintain complex underwriting models for private student loan and other unsecured consumer loan products, from scoping requirements, data preparation and cleansing, variable reduction, to parameter estimation and model performance assessment
• Assist in implementing underwriting and performance models into in-house and third-party decisioning engines
• Develop supporting processes for cash flow modeling, performance monitoring, and loss tracking
• Present reports regarding credit loss estimates and impact of credit policy and business development on credit profiles to Credit Risk Committee
• Work with other analysts and data engineers on quality assurance of source data and systems, analyses, and reporting
• Evaluate alternative data sources for use in predictive models
• Create and maintain documentation of credit risk models for dissemination by our internal and external partners as well as regulators
• Collaborate with other departments on developing predictive models across the complete value chain of unsecured lending products (marketing, operations, collections)


• Other duties and responsibilities as assigned to support operational and analytical needs in the areas of Credit Risk, Portfolio Management, and Finance


Preparation, Knowledge, Previous Experience:
• At least 4 years of experience as an analyst in the consumer lending space (mortgages, HELOCs, auto, cards, other revolvers, unsecured), preferably with student loan experience
• At least 2 years of experience in a quantitative role working on credit risk models, preferably with student loans or other unsecured loans
• Preferred experience in reviewing and implementing credit risk models and strategies
• Preferred experience utilizing data from the major consumer reporting agencies (Equifax, Experian, TransUnion)
• Proven track record of building models in either SAS (Base SAS, SAS EG) or R
• Statistical Programming Knowledge (SAS, R, Python, SQL, etc.) advantageous
• Experience in statistical techniques, risk classification algorithms, credit risk scoring, model validation techniques and metrics

Skills, Abilities, Competencies:

• Excellent inter-personal and communications skills with both peers and senior executives
• Track record of continuing education via webinars, conference attendance, or local support group involvement
• Highly organized self-starter who can own projects and act with limited supervision
• Ability to remain focused in a fast paced, “open office” environment
• Collaborative team player, eager to learn from and share knowledge with colleagues

Level of Education Required:
• Prefer bachelor’s degree in a quantitative discipline (Mathematics, Economics, Information Technology, Engineering, Science), Business, or equivalent working experience; Master’s Degree or PhD preferred

Office environment working with personal computer for extended periods of time.

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We are an Equal Opportunity Employer M/F/D/V. Cognition Financial Corporation does not discriminate against an applicant for employment on the basis of race, color, religion, sex, national origin, age, disability, or handicap, veteran status, or any other basis prohibited by federal, state, or local law or ordinance.