New York, New York

Quantitative Risk Mgmt Sr Associate
This position will perform independent reviews and validations of models covering a wide range of financial instruments with primary focus on models used in the Banking Division.

Key Responsibilities and Duties
  • The Model Risk Management (MRM) team within the TIAA’s Enterprise Risk Control is responsible for the assessment,management, measurement, and reporting of model risk.
  • This includes model validation and governance activities: initial model validation and model performance review; risk rating of models; front-to-back model governance and control.
  • The objective is to ensure that models are fit for the intended purpose in the business context and that model users are aware of the models' strengths and limitations impacting their decisions
Educational Requirements
  • University (Degree) Preferred
Work Experience
  • 3+ Years Required; 5+ Years Preferred
Physical Requirements
  • Physical Requirements: Sedentary Work

Career Level
7IC

The primary purpose and function of this role is to support Financial Risk Modeling and Management team on dynamic asset allocation model execution processes and model enhancement and expansion as well as other activities related to financial planning processes.

  • Support the annual asset allocation processes that help decide the strategy for ~$25 billion new money investment to manage an overall ~$290 billion dollar portfolio.

  • Support the Dynamic Asset Allocation model which, based on a total portfolio risk and return profile, allocates the investment program across various asset classes including fixed income such as Investment Grade, High Yield, and Commercial Mortgage, and alternative assets including Private Equity, Real Estate, and Real Assets.

  • Liaise with colleagues in General Account Office (GAO), Nuveen, and Actuarial Services to collect, analyze, and challenge key inputs and assumptions in the model.

  • Support monitoring assumptions and allocations during investment period.

  • Support Financial Risk Modeling and Management team to expand its quantitative support across organizations in TIAA.

  • Support model validation and documentation procedures

  • Serve as utility member that can plug in any projects in order to support colleagues in the Financial Risk Modeling and Management group on a variety of activities – including asset valuation, model governance, corporate financial planning, etc.

Qualifications:

Required Qualifications:

  • 3+ years of quant experience in the investment management business

Preferred Qualifications:

  • Undergraduate degree in a quantitative discipline (Statistics, Finance, Mathematics, Engineering or the Physical Sciences or others)

  • Master's degree in Applied Mathematics / Statistics / Computer Science/ Physics / Engineering, Quant Finance or related field

  • CFA, FRM, CAIA or FSA designation is desired

  • 5+ years of quant experience in the investment management business preferred

  • Programming Skills - Working expert level experience in MATLAB, R, Python, and/or other statistical software highly preferred

  • Advanced knowledge of Excel and PowerPoint and course level experience with quantitative tools such as Excel/VBA

  • Experience in the alternative asset investment business

  • Experience in life insurance industry

  • Working knowledge of various types of assets including fixed income, private equity, and/or real estate

  • Strong interpersonal and communication skills; ability to present results in both written and verbal form

  • Ability to work well in teams and lead and manage projects in partnership with internal technology teams from development through delivery

  • Learning Agility: Openness to new ways of thinking and acquiring new skills to retain a competitive advantage

Potential Salary: $117,300.00 USD

Actual base salary may vary based upon, but not limited to, relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location.  In addition to base salary, the competitive compensation package may include, depending on the role, participation in an incentive program linked to performance (for example, annual discretionary incentive programs, non-annual sales incentive plans, or other non-annual incentive plans). 

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Company Overview

TIAA is the leading provider of financial services in the academic, research, medical, cultural and government fields. We offer a wide range of financial solutions, including investing, banking, advice and education, and retirement services.

COVID-19 Vaccination

TIAA requires all U.S. employees to be fully vaccinated against COVID-19 and provide documentation of full vaccination, unless you qualify for an accommodation as determined by TIAA consistent with applicable law.

Benefits and Total Rewards

The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates. That’s why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones. Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being. To learn more about your benefits, please review our Benefits Summary.

Equal Opportunity

We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.

Read more about the Equal Opportunity Law here.

Accessibility Support

TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities. 

If you are a U.S. applicant and desire a reasonable accommodation to complete a job application please use one of the below options to contact our accessibility support team: 

Phone: (800) 842-2755

Email: accessibility.support@tiaa.org

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New York, New York

Build a career that makes an impact!

From retirement, to asset management, to banking, we have opportunities for you. At TIAA, you’ll do meaningful work helping clients pursue financial well-being. Here, your voice is heard and your ideas are welcome.

Passion for life, meet money for life!

Helping those who help others find confidence in retirement is our mission. Founded 100+ years ago to help teachers retire with dignity, our reach now extends well beyond education. We stand hand-in-hand with 5M+ clients to help fortify their money and ignite their dreams.

At TIAA, we know our people make the difference for our customers. That’s why we offer diverse career opportunities and rich programs and benefits to support their professional and personal needs.

We here at TIAA support our Veterans, and Veteran Spouses by providing a business resource group dedicated specifically for Active Military, Veterans, and their families!

 

Join a winning team that has been awarded for:

  • Top 50 Companies for Diversity 2020
  • Worlds Most Ethical Companies 2021
  • Best Companies for Latinas 2019
  • 100 Best Companies for Working Mothers 2019
  • Forbes Best Companies for Women 2018

 

 

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