Job Summary

Office of Fair Lending is seeking a qualified Fair Lending Quant Modeling Associate to perform statistical modeling and analyses to detect & mitigate bias in line-of-business models. This individual will also participate in bias testing-related research projects to support & enhance the bank’s fair lending compliance program.

Job Responsibilities

As a Fair Lending Quant Modeling Associate Senior in this high-visibility role, you will:

• Conduct statistical analyses and bias testing to review business models, including both traditional and machine learning / artificial intelligence models (ML/AI),for fair lending compliance
• Build data-driven algorithms to mitigate potential disparate impact of models by working alongside model developers, business strategy owners & Legal to develop less discriminatory alternative models
• Prepare presentations & reports to explain statistical results in both non-technical and technical formats to various stakeholders such as senior management, Legal, Model developers, Model Governance etc.
• Perform research & development to keep the fair lending compliance program aligned with industry and regulatory standards
• Create model documentation; work with Control, Audit and Model Governance teams to ensure adequacy of processes, statistical models and model reviews
• Support the team in maintaining relevant policies & procedures and representing fair lending in regulatory exams, audits and other areas related to internal governance
• Perform other related duties as assigned

Required Qualifications, Capabilities, and Skills

• Bachelor degree required in a quantitative field (e.g., Statistics, Economics, Computer Science, Engineering) with 4+ years of relevant work experience, or Masters degree in a quantitative field with 2+ years of relevant work experience
• Entrepreneurial spirit, strong attention to detail, ability to take the lead on projects, in depth interest in solving complex business problems with data and passion for spreading a culture of change towards data-driven decision making
• Proficiency in Python , shell scripting, cloud computing platforms and tools (e.g., AWS, Spark) and database systems (e.g., Hadoop, Teradata, Hive)
• Experience in developing, implementing evaluating linear / logistic regression and machine learning / artificial intelligence models
• Experience working or consulting for a bank, a consumer financial product company such as a non-depository mortgage lender or fintech, a banking regulator (e.g., OCC, CFPB) or other similar government regulatory or enforcement agencies with knowledge of how consumer financial products such as mortgage and auto loans are underwritten and priced
• Strong project management , critical thinking and analytical skills; ability to work in a fast-paced environment and manage multiple projects towards completion with focus on quality
• Excellent communication skills both verbal and written; ability to communicate technical matters in a non-technical way & clearly present complex and sensitive issues
• Shift timings - 2:30-11:30pm IST

Preferred Qualifications, Capabilities, and Skills

• Experience in SAS
• Experience with bias detection tools or research of fairness