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Summer Associate Internship (Data Scientist - Model Risk Management)

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Navy Federal Credit Union

16d ago

  • Internship
    Full-time
    Summer Internship
  • Data
    Banking & Finance
  • Vienna

AI generated summary

  • You should be pursuing a master's in a relevant field, possess analytical skills, communicate insights effectively, have experience with classification models, and be skilled in Python, R, and SQL.
  • You will analyze data using Python and R, evaluate model performance, identify risks, provide insights, and present recommendations to stakeholders for improving model effectiveness.

Requirements

  • - Pursuing master’s degree in Data Science, Statistics, Mathematics, Computer Science, Engineering or other related field
  • - Ability to understand complex business problems
  • - Skill in communicating actionable insights using data to technical and non-technical audiences
  • - Skill in descriptive, predictive, and prescriptive analytics and modeling
  • - Experience in using classification models to solve business problems
  • - Demonstrates an understanding of the modeling lifecycle
  • - Skill in data mining, data wrangling, and data transformation
  • - Skill interpreting, extrapolating, and interpolating data for statistical research and modeling
  • - Skill in Python or R
  • - Skill in SQL and querying (able to pull/transform your own data)

Responsibilities

  • - Leverage technologies – including Python and R – to analyze and gain insights within large data sets
  • - Evaluate model design and performance and perform champion/challenger development. Analyze model input data, assumptions, and overall methodology.
  • - Using statistical practices, analyze current and historical data to make predictions, and identify risks, and opportunities, enabling better decisions on planned/future events
  • - Provide analytics insights and solutions to solve complex business problems
  • - Examine data from multiple sources and share insights with leadership and stakeholders
  • - Transform data presented in models, charts, and tables into a format that is useful to the business and aids in effective decision-making
  • - Develop and maintain an understanding of relevant industry standards, best practices, business processes, and technology used in modeling and within the financial services industry
  • - Assess the model’s overall fit/suitability with its intended use and purpose
  • - Provide subject matter expertise to identify models’ key assumptions, limitations, and weaknesses, and recommend practical solutions to mitigate model risk
  • - Prepare and present clear, thorough reports to model developers and model owners explaining the analysis performed, the results of the analysis, and recommendations for improvement

FAQs

What is the primary focus of the Summer Associate Internship in Model Risk Management?

The primary focus is to complete an end-to-end validation of one of Navy Federal’s predictive models, which includes analyzing data, assessing conceptual soundness, and developing recommendations for risk mitigation.

What technologies will I be expected to use during this internship?

You will be expected to leverage technologies including Python and R for data analysis and insights, as well as SQL for data querying and transformation.

What qualifications are required for this internship position?

Candidates should be pursuing a master’s degree in Data Science, Statistics, Mathematics, Computer Science, Engineering, or a related field, and should possess skills in analytics, modeling, data transformation, and communication of data insights.

What types of projects could I work on during the internship?

Projects may involve validating models in areas such as fraud detection, targeted marketing, underwriting, financial forecasting, and others.

What are some of the key responsibilities I will have in this role?

Responsibilities include analyzing model design and performance, documenting findings, developing recommendations for model developers, and preparing reports for stakeholders.

How does the Model Risk Management team operate within the organization?

The Model Risk Management team serves as a 2nd line of defense, ensuring sound model risk management practices through a governance framework that standardizes model activities from development through retirement.

Will I have opportunities for mentorship during the internship?

Yes, interns will have opportunities to engage with business owners and receive guidance from experienced professionals within the Model Risk Management team.

Is there a specific project deliverable expected by the end of the internship?

Yes, at the conclusion of the validation project, the Summer Associate is expected to present a list of model risk findings and recommendations to the Model Owner for remediation.

What is the hiring organization's stance on diversity and inclusion?

Navy Federal values and enacts diversity in the workplace and takes affirmative action to employ and advance individuals from various qualified backgrounds.

What is the work environment like for this internship?

The internship is conducted in a hybrid workplace environment, allowing for a combination of remote and in-office work. Details will be discussed during the interview process.

Navy Federal Credit Union

Our Members Are the Mission

Finance
Industry
10,001+
Employees
1933
Founded Year

Mission & Purpose

Navy Federal is the world’s largest credit union, with more than 13 million members, $178 billion+ in assets and 24,000+ employees. Throughout campuses in Vienna, VA Pensacola, FL and Winchester, VA, as well as more than 350 branches, we serve the Armed Forces, Department of Defense, veterans and their families with world-class financial products and services. Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks. Our approach to careers is simple yet powerful: Make our mission your passion. Equal Housing Lender