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Loan Performance Modeling & Research Specialist

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Job ID 19REQ-00707 Location Wilmington, Delaware Company Name Navient Solutions, LLC

Navient (Nasdaq: NAVI) provides asset management and business processing solutions to education, healthcare and government clients at the federal, state, and local levels. We help our clients and millions of Americans achieve financial success through our services and support. Headquartered in Wilmington, Delaware, Navient employs team members in Western New York, Northeastern Pennsylvania, Indiana, Tennessee, Texas, Virginia, and other locations. Learn more at navient.com.

Credit Risk Management is hiring a Specialist to perform the production, maintenance and development of analysis and models that support the company’s financial operations.  The Credit Risk Management group is a high performing and highly visible team, whose primary mission is to provide key business and performance intelligence to executive management that enables accurate, efficient, and optimal credit and financial management, oversight and decision making.  Specifically, the Specialist role will produce, support, or contribute to the determination of portfolio valuation estimates, calculation of the loan loss reserve, portfolio acquisition, and other key financial and accounting business estimates. 

The specialist will support the quarterly production, validation, and presentation of the corporate Critical Accounting Assumptions, including short and long-term default expectations, recovery/severity estimates, and portfolio prepayment rates.  In addition, the incumbent will perform on-going and ad hoc reporting and analysis on loan portfolio performance and other loan performance initiatives as they arise.

The typical model production process involves input source data review and validation, programmatic model processing and execution, quantitative analysis of model outputs in both SAS and excel, manual review of the model results, post-production analysis to understand and explain key drivers of performance, execution of a very robust control and validation framework, and written and verbal analysis and presentation of the model results delivered to senior management.

Essential Job Functions:

1. CAA Modeling – Update and run models on a quarterly basis.  Assist in updating and preparing deliverables for CAA Committee meetings.  Assist in briefing the CAA committee, including executive management, on CAA results.  Work with counterparts in other groups to track model uses, understand impact of assumption changes and provide guidance on application of CAA results.                                                                               

2. Research Project Work – Execute analyses that answer key questions posed by management relative to loan performance impacts of new business, emerging developments, operational changes or deeper exploration of performance trends                                                                                                                               

3. CAA Research and Development – Execute ad hoc analyses to support the understanding and application of the CAA results.  Identify and implement model enhancements.  Automate and streamline existing models and supporting processes.                                                                                                                           

4. Model Documentation and Validation –Update and enhance model documentation.  Perform validation checks for owned models and review model controls executed by others on the CAA team.  Assist in maintaining compliance with the company’s Model Risk Management program for CAA models, and by performing independent model validation exercises with other groups in the company.                             

5. Data and Infrastructure SupportIdentify and understand the data sources used in CAA modeling.  Assist in monitoring and testing data needed by CRM to drive its reporting and analysis.

MINIMUM REQUIREMENTS:                                                                                                                           

  • Bachelor’s Degree - Economics, Mathematics, or Finance
  • 0-2 years of related modeling/analytical experience
  • 0-2 years of experience in Excel and/or SAS 
  • Experience in R, Python, SQL or another non-SAS programming language
  • Background in finance, economics, credit, data science, math/statistics, or marketing analytics

All offers of employment are contingent on standard background checks. Navient and certain of its affiliated companies are federal, state and/or local government contractors. Should this position support a Federal Government contract, now or in the future, the successful candidate will be subject to a background check conducted by the U.S. Government to determine eligibility and suitability for federal contract employment for public trust or sensitive positions. Positions that support state and/or local contracts also may require additional background checks to determine eligibility and suitability.

EOE Race/Ethnicity/Sex/Disability/Protected Vet/Sexual Orientation/Gender Identity. Navient Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Navient is a drug free workplace.

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