Junior Quantitative Credit Risk Consultant – Advisory Services
Location: Beijing, China
An entry level (Associate) position exists for a quantitative credit risk professional to join an existing team of analysts to provide quantitative support to our external advisory efforts. The scope of the model development activities on which the candidate will participate primarily consists of single obligor credit rating, default and loss given default models. Additional areas of focus for the group include economic capital modeling, ICAAP framework review and design, and stress-testing strategies.
The typical candidate need not necessarily come from a finance background, e.g. banking or consultancies, although this could be useful. Those working on statistical models within corporate firms, retail banking, or academia could also have the relevant skills. The essential skill is the ability and interest to work on building statistical models for credit risk problems together with a good command of English, both verbal and written, strong client facing and communication skills, enthusiasm, and self-motivation.
·At a minimum, have a good quantitative initial degree, perhaps also with postgraduate qualifications in such areas as statistics, mathematics, economics, or equivalents.
·Knowledge of statistical methods and how they can be applied. Typical exercises involve the construction of logit, probit and related models.
·Existing credit risk, banking and/or finance knowledge is useful, but not essential. This may include an understanding of model development techniques for PDs, LGDs and EADs; awareness of credit rating analysis concepts; and / or familiarity with corporate and retail banking processes.
·Experience in using statistical and mathematical software packages is desirable, in particular SAS and Matlab.
·Knowledge of SQL and Visual Basic programming in MS Office, or the ability to quickly learn these, are useful additions.
·Working knowledge of Excel and Word is also required.
·Client projects are performed both on- and off-site, therefore candidate must be willing to engage in a reasonable amount of travel
·Ability to communicate clearly, work as part of a small team, and be of a personable nature.
·Given this is a small group, the individual must be capable of motivating themselves to learn what is required to deliver on a project, while not being too individualistic about their work.
·Foreign language skills, particularly in Mandarin, would be useful.
Fitch Solutions and Algorithmics Background
Fitch Solutions is a division of Algorithmics, which was established in 1989 with a focus on the banking and financial industries. That focus remains in place today, with more than 400 clients including 60 of the world’s largest financial institutions, relying on Algorithmics’ software, analytics, and consulting services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centres, Algorithmics offers proven, award-winning solutions for market, credit, and operational risk, as well as collateral and capital management. Algorithmics joined the Fitch Group in 2005 and thus has the backing of one of the leaders in financial ratings.
Fitch Solutions provides modelling advisory services to our clients worldwide. Our team of experienced consultants and practitioners offer a wider spectrum of Risk Advisory and Analytics, covering rating models for Basel II, Economic Capital and Enterprise Risk Management, along with many other related areas of risk analysis. The combination of Advisory services, the quantitative expertise and the enterprise risk management capabilities of Algorithmics provides a unique proposition in risk management
Since its inception more than 12 years ago the Advisory team has advised a diverse range of clients internationally and specifically in Asia on the assessment, design, and implementation of risk management models, capital frameworks, and risk technology solutions. In each of these projects, the Advisory group has utilized a unique combination of thought-leadership, risk technology, and practical experience to provide customers with a customized risk solution that was successfully integrated into the operations of the organization.
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