Quantitative Analyst, CoStar Risk Analytics Job Description CoStar Group (NASDAQ: CSGP) is a leading global provider of commercial and residential real estate information, analytics, and online marketplaces. Included in the S&P 500 Index and the NASDAQ 100, CoStar Group is on a mission to digitize the world's real estate, empowering all people to discover properties, insights and connections that improve their businesses and lives. We have been living and breathing the world of real estate information and online marketplaces for over 35 years, giving us the perspective to create truly unique and valuable offerings to our customers.
CoStar Risk Analytics, located in Boston, MA, works with market participants across the commercial real estate (CRE) lending spectrum. Our solution provides lenders with the ability to better target business, appropriately price loans, make informed approval of credits, actively manage their portfolio with robust stress testing and surveillance measures, assess refinance risk and execute with a disciplined framework. Our clients include both public and private lenders, ranging from commercial banks and financial institutions to pension funds and insurance companies as well as government and rating agencies.
CoStar Risk Analytics is currently looking for a Quantitative Analyst to join the growing Boston-based team. This individual will work on the industry-leading credit risk model Compass, the calculation engine of CoStar Lender product. This position is located in Boston, MA and offers the following schedule: 4 days onsite / 1 day remote.
Responsibilities: Conduct independent and creative quantitative research applied towards modeling of loan default risk, prepayment risk, recoveries, risk rating, CECL, capital adequacy, and other related credit risk analysis in the lending fields of commercial mortgage, residential mortgage, commercial & industrial, and commercial backed mortgages securities (CMBS).Conduct ongoing model validation analysis and evaluate the needs for model enhancements and recalibration.Translate business needs of analytics, calculation and modeling functionalities into product model features and conduct research on data requirements and selections of model framework.Implement data mining techniques to research, select, validate and integrate data for model development and testing.Create detailed functional specifications to implement calculations and application of new model features.Build prototype model using SAS, Python or R software languages and generate sample test files for model development tests.Closely work with product team and IT developers to productize new model features, QA model implementation, identify and fix errors or bugs in the source code of model developments.Create comprehensive documentation and presentation decks on model information for both internal and external use.Create, update and QA historical and forecast data tables for ongoing model implementation.Assist with clients' requests on model training, model interpretative analysis, and validation analysis (including sensitivity analysis, impact analysis and attribution analysis) and regulatory model risk management compliance.Conduct market research on related model methodology and approaches and regulatory requirements on model adoptions.Basic Qualifications: Bachelor's degree preferably in finance, real estate, or accounting from an accredited, not-for-profit University or College.2+ years of relevant work experience in a research-oriented environment and/or in financial services including banking, insurance, investment management, commercial real estate, or accounting.Knowledge of applied statistical analysis, stochastic processes, econometrics, and quantitative methodologies.Excellent programming skills in Python, R, SQL, SAS, Stata, or other languages and the ability to conduct data mining in large datasets.Accuracy and attention to detail.Excellent problem-solving skills.Ability to articulate model features to different audiences to provide broad overview or technical details.Preferred Qualifications: Experience with credit risk modeling and analysis (PD, LGD, EL) on wholesale lending.Familiarity with regulatory framework including CCAR/DFAST, CECL, and Basel III.Familiarity with industry trends in investment, technology, and lending such as AI/machine learning, climate risk, and ESG.Experience with common market analytical tools, such as Bloomberg, Intex, Trepp.Master's degree in Economics/Statistics/Real Estate/Finance/Financial Engineering, or relevant fields.Evidence of strong academic performance in college.What's in it for you? When you join CoStar Group, you'll experience a collaborative and innovative culture working alongside the best and brightest to empower our people and customers to succeed. We offer you generous compensation and performance-based incentives. CoStar Group also invests in your professional and academic growth with internal training, tuition reimbursement, and an inter-office exchange program. Our benefits package includes (but is not limited to):
Comprehensive healthcare coverage: Medical / Vision / Dental / Prescription Drug.Life, legal, and supplementary insurance.Virtual and in-person mental health counseling services for individuals and family.Commuter and parking benefits.401(K) retirement plan with matching contributions.Employee stock purchase plan.Paid time off.Tuition reimbursement.On-site fitness center and/or reimbursed fitness center membership costs (location dependent).Access to CoStar Group's Diversity, Equity, & Inclusion Employee Resource Groups.Complimentary gourmet coffee, tea, hot chocolate, fresh fruit, and other healthy snacks.We welcome all qualified candidates who are currently eligible to work full-time in the United States to apply. However, please note that CoStar Group is not able to provide visa sponsorship for this position. This position offers a base salary range of $78,900-$127,100, based on relevant skills and experience and includes a generous benefits plan.
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CoStar Group is an Equal Employment Opportunity Employer; we maintain a drug-free workplace and perform pre-employment substance abuse testing. CoStar Group is committed to creating a diverse environment and is proud to be an equal opportunity workplace and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
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