Specialist: Quantitative Analyst at Absa Group Limited (Absa)

Job Summary

• The Model Development Quantitative Analyst is responsible for designing, developing, and validating quantitative models used for risk assessment, pricing, and portfolio management. This role requires a strong foundation in mathematics, statistics, and programming, along with the ability to apply advanced quantitative techniques to solve complex financial problems.

Job Description

Key Responsibilities:

• Model Design and Development:
• Design and implement quantitative models for credit risk as well as models for pricing and profitability analysis.
• Utilize statistical methods and machine learning techniques to enhance model performance.
• Data Analysis:
• Conduct in-depth analysis of large datasets to extract insights and inform model development
• Clean, preprocess, and transform data to ensure accuracy and relevance.
• Reporting and Visualization:
• Create visually engaging reports and dashboards to communicate performance results.
• Present findings and recommendations to management and other stakeholders.
• Model Validation and Testing:
• Perform rigorous back testing and validation of models to assess their accuracy and reliability.
• Document validation results and provide recommendations for model enhancements.
• Collaboration and Communication:
• Work closely with cross-functional teams, including risk management, business and IT, to ensure model alignment with business objectives.
• Present model findings and insights to stakeholders, translating complex concepts into actionable recommendations.
• Research and Development:
• Stay current with industry trends, academic research, and advancements in quantitative modeling techniques.
• Contribute to the development of best practices and standards in model development.
• Regulatory Compliance:
• Ensure that all models comply with relevant regulatory requirements and internal validation policies.
• Assist in the preparation of documentation for model governance and audits.
• Continuous Improvement:
• Monitor scorecard effectiveness and make recommendations for enhancements.
• Stay current with industry best practices and emerging trends in performance measurement.
• Documentation:
• Maintain comprehensive documentation of scorecard development processes and methodologies.
• Ensure that all documentation is accessible and up to date.

Qualifications:

• Bachelor’s degree in Statistics, Mathematics, Actuarial Science or a related field; Master’s degree preferred.
• Proven experience in quantitative modeling, financial analysis, or related fields.
• Strong programming skills in languages such as SAS, Python and SQL.
• Proven experience in data analysis
• Strong analytical skills and attention to detail.
• Excellent communication and presentation skills.
• Ability to work independently and collaboratively in a fast-paced environment.

Preferred Skills:

• Experience with machine learning algorithms and statistical modeling techniques.
• Excellent problem-solving skills and ability to work under pressure.
• Knowledge of banking regulations and risk management frameworks.
• Strong analytical skills and attention to detail, with the ability to work in a fast-paced environment.

Education

• Bachelor`s Degrees and Advanced Diplomas: Physical, Mathematical, Computer and Life Sciences (Required)