Associate - Risk Analytics


What You'll Bring (desired skills and experience):

Education and Previous Experience:

  • A track record of academic excellence including an advanced degree (e.g., MS, MA, MBA, PhD) from a reputable college/university in a quantitative discipline such as statistics, math, applied mathematics, finance, financial mathematics, financial engineering, computational finance, economics, econometrics, operations research, engineering, etc.
  • 5+ years of work experience working with large data sets and using analytics to drive business results ideally in financial services related industry (e.g., banking and securities, asset management, insurance) especially within another professional services firm
  • Experience managing analytic resources (e.g., statistical, data, econometric) to create meaningful and measurable business impact; Prior experience with off-shoring culture is an added bonus
  • Experience working in/with enterprise class data environments to access, manipulate and analyze large data sets
  • Strong consulting skills; previous experience in a client service-oriented role

Knowledge and Skills:

  • Distinctive analytical problem-solving ability on a range of business problems faced by financial institutions including ability to disaggregate key issues, identify root causes and recommend solutions
  • Exceptional numerical and statistical ability, with experience using statistical software packages such as SAS, STATA, SPSS, R and data query languages such as SQL
  • Solid MS Office skills - Excel (including macros and VBA) and Access (or SQL), story boarding and PowerPoint at high proficiency preferred
  • Deep expertise in at least one fundamental area of statistics, such as advanced regression (e.g., heteroskedasticity, multicollinearity, autocorrelations, nonlinearity, etc.), logistic regression and choice models, time series, latent class analyses, structural equations models, Bayesian statistics
  • Effective communicator with the ability to engage with and persuasively present to a wide variety of audiences (e.g., with and without technical background, senior and mid-level clients)
  • Strong project management skills; flexibility and ability to manage multiple assignments in a dynamic, complex and fast-paced environment
  • Strong ability to apply learnings from one business situation to other
  • Ability to motivate, coach and mentor junior colleagues on both technical and non-technical aspects
  • Big picture thinker – business orientation/ P&L/portfolio mentality
  • Ability to influence adoption of new thinking
  • Highly ambitious – seeks accountability in a challenging business environment and thrives on success through innovative problem solving.
  • Strong ownership mindset, results-oriented with a focus on delivering high quality end products
  • Highly professional, team player with a strong work ethic
  • Willing to travel 50-75%

Who You'll Work WithMcKinsey continues to expand its Advanced Analytics capabilities in its New York-based Risk hub. We are looking for consultants with deep expertise in Risk analytics and statistical model development to join the practice. Our consultants work with client teams to provide technical leadership and own significant parts of advanced model development. Ideal candidates have an advanced degree (stats/math/physics), 3+ yrs experience, exceptional numerical ability, experience with analytic software & SQL databases and excellent communication skills.

What You'll Do

Advanced Analytics Associates are consultants dedicated to working with client teams providing technical leadership needed to solve our client's Risk Management related business problems. They own significant parts of advanced model development and are responsible for completing targeted quantitative analyses across the spectrum of Risk Management. This includes: stress testing, prospecting, underwriting, portfolio monitoring, pricing, asset evaluation and loss mitigation. They will work on a single client project at a time offering teams deep technical expertise, and often have significant direct interaction with clients with strong technical knowledge. They also contribute to knowledge development and offer coaching and mentorship to junior colleagues.

How You'll Contribute as an Associate:

The role of Associate has three broad sets of responsibilities:

  1. Risk Advanced Analytics:
  • Offer distinctive problem-solving leadership on a range of topics to break down complex business problems into tangible components that can be solved using insights derived from analytic techniques
  • Apply advanced analytic and quantitative tools, statistical modeling techniques, and data mining procedures and tools to develop solutions
  • Set up data sets and databases with the data received from clients and other 3rdparties
  • Act as the 'go-to' person for all analytical questions for both clients and internal teams; be the day-to-day client contact on analytically intensive engagements
  • Own the development of statistical models writing code and developing scripts (e.g., SAS scripts) to improve Risk management decision making (e.g., underwriting models)
  • Lead integration of different solution components developed by other team members including junior colleagues
  • Translate business requirements into technical needs and appropriately scope analysis and end deliverables
  • Translate results from analysis and models into tangible business insights
  • Provide thought leadership to ad-hoc Risk Analytics-related requests from other client engagement teams
  1. Client Service Support
  • Create value for clients by understanding their needs and translating them into the required analytic work products
  • Contribute to team problem solving through findings and insights from your analysis
  • Help facilitate data integration and management between clients and McKinsey
  • Mentor more junior members of analytic community in their career development including technical skills development and project management
  1. Knowledge Transfer and Practice Development
  • Contribute to the development of knowledge for the analytic group
  • Keep abreast of analytic 'best practices' across the industry

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