Quantitative developer Jobs in Newark, NJ

The anticipated salary range for this role is between $138,278.00 and $190,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Objectives: Delivery

• Support the end-to-end development, calibration, and documentation of credit risk models (PD, LGD, EAD, loss forecasting) for stress testing and capital planning.
• Develop stress testing models to assess the impact of internal and regulatory stress scenarios, including those used in the Comprehensive Capital Analysis and Review (CCAR), and design scenario based modeling frameworks consistent with applicable regulatory guidance.
• Participate in the development and calibration of credit risk grading/rating models used in internal ratings based (IRB) frameworks to support regulatory capital calculation, pricing, underwriting decisions, portfolio management, and stress testing activities.
• Develop and maintain operational risk capital and CCAR models, to quantify operational risk exposure under baseline and stress scenarios. Innovate modeling approaches using advanced statistical techniques (machine learning, natural language processing) to improve predictive power and scalability. Partner with the Model Risk and Validation (MRV) and model owners to address validation findings and ensure compliance with governance standards.
• Perform ongoing model performance monitoring, including back-testing, benchmarking, and sensitivity analysis. Document model assumptions, limitations, and remediation plans for audit and regulatory reviews. Implement robust controls to ensure model accuracy and stability across economic cycles. Support responses to regulatory examinations and audits, including interactions with regulatory agencies such as the Federal Reserve and the Office of the Comptroller of the Currency (OCC), to ensure models comply with SR 11 7, Basel III, and CCAR requirements.
• Collaborate with Finance, Risk, and IT teams to operationalize models into production systems and reporting workflows.
• Mentor junior quantitative analysts, provide technical guidance and foster professional development. Promote knowledge-sharing on emerging trends (e.g., AI/ML applications, climate risk integration).
• Hybrid remote work permitted.

Qualifications and Skills

• Master’s degree in statistics, operations research, or related quantitative field and 7 years of experience. Required skills: Python, SAS, R, or other programming language used for quantitative analytics and modeling; CCAR, CECL; vendor data experience such as Moody’s CRD/DRD, S&P data, Trepp data, Costar data; wholesale credit model development knowledge and experience, including Commercial Real Estate and/or Commercial & Industrial; statistical or econometrics modeling experiences; data analysis.

The required skill set does not need to be maintained over the full term of the required experience.

The role is eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

For benefit information, please see the Careers page

SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.

SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.