Senior Associate - Portfolio Credit Risk Modeling

Overview

This role supports investment risk management by leading the development of a multi-year stochastic credit risk model and delivering a production-ready solution for specialty finance underwriting. Over time, the position will expand to influence pricing of other products, including annuities. Collaboration across a range of teams is central to developing analytical solutions and building specialty finance capabilities.

The employer is seeking an individual experienced in structural credit risk modeling who is intellectually curious and motivated by meaningful technical challenges.

Responsibilities

• Collaborate with the specialty finance team and asset managers to fully develop a Merton-approach, multi-year stochastic credit risk model for:
  • Corporate bonds
  • Commercial mortgage loans
  • Structured assets
• Research credit default history and credit risk cycles to set assumptions and clearly define model scope and limitations
• Design and execute comprehensive model validation
• Build analytical frameworks that connect assumptions, inputs, and outputs to interpret model results clearly
• Develop and guide junior-level credit risk analysts and strengthen the credit risk modeling function

Required Skills & Qualifications

• Experience in portfolio credit risk modeling, such as:
  • Single-factor models
  • Merton models
  • Gaussian copula frameworks
• Deep insight into credit default and migration behavior, including:
  • Credit risk cycles
  • Rating migration dynamics
  • Default probabilities
  • Loss recovery experience
• Strong understanding of asset and risk characteristics across corporate bonds, commercial mortgage loans, and structured assets
• Proven modeling and programming skills (Python, MATLAB, or similar) developing Monte Carlo simulation models
• Working knowledge of insurance investment portfolio risk and statutory capital frameworks
• Strong communication skills, including the ability to articulate complex modeling concepts to senior leaders
• Preferably 5+ years of experience in quantitative risk modeling
• This role does not qualify for employer sponsored work authorization. The employer does not participate in the STEM OPT extension program.

Preferred Qualifications

• Preferred professional designations (or progress toward them): CFA, FRM, or actuarial credentials (FSA/FCAS)

Compensation & Benefits

• Exempt (not eligible for overtime)
• National salary range for Sr Consultant, Risk Analytics Researcher: $149,000.00-$262,000.00
• Expected starting salary range for Sr Consultant, Risk Analytics Researcher: $149,000.00-$223,000.00

Benefits include:

• Medical/dental/vision
• Life insurance
• Short- and long-term disability coverage
• Paid time off, with newly hired associates receiving a minimum of 18 days paid time off each full calendar year, pro-rated quarterly based on hire date
• Nine paid holidays
• 8 hours of Lifetime paid time off
• 8 hours of Unity Day paid time off
• 401(k) with company match
• Company-paid pension plan
• Business casual attire

Location

• Intended location: Columbus, OH
• Remote work: Applications from candidates working remotely who bring critical industry skills and relevant experience may be considered.
• This position could be filled within any of the lower 48 U.S. states.

Additional Information

• Applications are anticipated to be accepted until 10/29/2026; early submission is encouraged, as the posting may close sooner if a strong candidate slate is identified.
• Reporting relationship: Reports to Risk/Actuarial leader.
• Education: Undergraduate studies in finance, accounting, economics, statistics, mathematics or related subject area required. Graduate-level studies in a related field with advanced degree highly desirable.
• License/Certification/Designation (preferred): Progress toward FCAS, FSA, CQF, CFA or similar.