The Credit Research Initiative (CRI) team is a world leader in studying and applying the modern data analytics and conventional economic/financial models to credit risk analysis. We invite Ph.D. candidates/holders from quantitative disciplines to apply for the Research Fellowship.

The CRI is committed to achieving academic excellence and practical relevance. It was launched after the 2008-2009 financial crisis and premised upon the concept of credit ratings as a public good. Over the course of its developments, it has produced top-tier original research and has helped a wide range of financial institutions, supranational organizations and FinTech companies to solve real-world problems. In collaboration with the International Monetary Fund (IMF), the CRI has developed an automated stress-testing tool based on the CRI PD system – the Bottom-up Default Analysis (BuDA) toolkit. Together with a Singapore-based FinTech company, our technology is extended to help build its credit rating system for Small and Medium-sized Enterprises (SMEs). The CRI team joins the Asian Institute of Digital Finance in NUS in 2020 and currently actively pursues a research project on Natural Language Processing (NLP) to extract credit-focused sentiments in media to complement the structured financial and behavioural data. Looking into the future, the CRI will continue to make the most of data analytics, further automate the system and make the products more actionable for various users.

Responsibilities (include but not limited to):

• Conducting individual research for journal publications on credit risk management, data analytics, natural language processing, machine learning, deep learning, financial modelling, finance/economics empirical analyses, algorithm development, databases, etc.
• Participating in the CRI operations in terms of model development/validation, data production, system enhancement and knowledge dissemination.
• Participating in the consulting projects for external parties (e.g. bespoke model development/validation).

Qualification Requirements:

• Expecting/Holding Ph.D. degree from a quantitative discipline, e.g. Computer Science, Mathematics, Statistics, Physics, Engineering, Operations Research, Marketing, Economics, Finance, etc. The successful candidate is expected to obtain his/her Ph.D. degree at the time of appointment.
• Intending to do good research and striving to have a real-world impact.
• With great curiosity and outstanding ability to learn fast.
• Strong team spirit and comfortable working with a diverse team in a multi-cultural environment.
• Responsible and resilient when faced with challenges.
• Excellent oral and written communication skills.

Application Materials:

• Application Form;
• NUS Personal Data Consent for Job Applicants;
• A detailed CV including publications;
• A statement of future research plan and samples of research work;
• Two reference letters.

Applicants should submit their applications electronically to dora_ung@nus.edu.sg.

We regret that only shortlisted candidates will be notified.

For more information about CRI, please visit CRI Website

The Asian Institute of Digital Finance (AIDF) is a university-level institute in NUS, jointly founded by the Monetary Authority of Singapore (MAS), the National Research Foundation (NRF) and NUS. AIDF aspires to be a thought leader, a Fintech knowledge hub, and an experimental site for developing digital financial technologies as well as for nurturing current and future Fintech researchers and practitioners in Asia. The Credit Research Initiative (CRI) is a non-profit undertaking under the AIDF. Pioneering the "public good" credit risk measures, the initiative is committed to advancing big data analytics and providing directly useful credit intelligence to academic and professional communities. Be part of a dynamic team in analyzing risk in today’s financial markets. An opportunity exists to join NUS-AIDF as a Research Analyst/ Associate in the Product Management Team, Validation Team, Development Team and Data Management Team. You will compute and publish probabilities of default (PD) of listed firms globally based on quantitative model and contribute to the ongoing research and development of the model. This is a cross-functional role that requires the exploration of different dimensions of risk management. It will challenge successful applicants and is a great learning and development opportunity.

Career Benefits:

• Gain a detailed understanding of a cutting-edge quantitative credit risk model 
• Further your knowledge in quantitative modeling and financial analysis.
• Gain experience in emerging technologies (e.g. cloud/grid computing, GPU computing, FPGA).
• Benefit from a world-class research environment at the forefront of credit risk, with a motivated research team a well-established network.
• Successful applicant can look forward to joining one of the teams below. 

1. IT OPERATIONS - SYSTEMS ADMINISTRATOR

Responsibilities:

• Perform regular server and workstation maintenance and upgrades, for both hardware and software.
• Implement and maintain cybersecurity controls and protocols on all IT assets.
• Procurement of new IT assets, maintaining existing ones, and decommissioning of EOL assets.
• Manage and audit user accounts and permissions.
• Coordinate with different internal teams within CRI to align, recommend, and procure any IT requirements essential to upcoming projects.
• Work with the auditor to implement and maintain business continuity plans for CRI’s IT infrastructure.
• Provide technical support to users on a daily basis.

Requirements:

• Preferably major in the area of Computer Science, Information Technology, or similar discipline.
• Experience with administering Windows Server and Windows 7/8/10 operating systems.
• Familiarity with Unix, SQL, Python, and AWS (or other cloud services) is a plus.
• Experience in troubleshooting and resolving computer hardware and software issues.
• Strong customer service ethos along with great organizational, interpersonal, and communication skills.
• Enthusiasm for continual learning and always open to feedback.

2. CLIENT SERVICES TEAM

The Client Services Team (CST) bridges the gap between the AIDF and external users and industry clients by offering tailored solutions to suit their needs. As a member in the CST, the candidate will quickly gain knowledge to our models and services, and exposure in handling projects and inquiries from institutional clients such as supranational organization, international banks and FinTech companies.

Responsibilities:

• Be familiar with the CRI model and solutions.
• Prepare marketing materials, RFP, presentation slides and case studies.
• Build good relationship with clients and to provide value-added services.
• Coordinate well with other teams to provide prompt and efficient services to clients.
• Handle ad-hoc projects and clients’ inquiries.
• Initiate new projects to enhance project management and operational efficiency.

Requirements:

• Academic background of the following subjects is preferred: finance, economics, business, marketing or related discipline. Candidates who are interested in the financial industry are welcomed.
• Solid understanding of credit ratings, credit risk, quantitative models and financial analysis.
• Proficient in spoken/written English.
• Possess strong analytical skills and problem solving skills.
• Possess good communication and interpersonal skills.
• A good team player with a strong sense of responsibility.
• High efficiency, and able to manage multiple tasks and projects concurrently.
• Proficient in Microsoft product suite, knowledge in VBA, Photoshop and video making are a plus.

3. PRODUCT MANAGEMENT TEAM

The Product Management Team (PMT) manages and produces various credit risk products. PMT plays a key role and is mainly involved in implementing, maintaining, and improving scientific computation models for products. Successful candidates will have the opportunity to quickly learn the modeling approaches, mathematical algorithms, and programming skills utilized for credit risk research work.

Responsibilities:

• Maintain and simplify Production System.
• Analyze and interpret the credit risk measures.
• Improve the developed scientific computation of credit risk measures such as Distance to Default (DTD), Probability of Default (PD), and Actuarial Spread (AS).
• Develop and improve the practical credit risk management tools such as stress testing/scenarios analysis.
• Deal with urgent or ad-hoc requests.

Requirements:

• Preferably major in the areas of finance, economics, statistics, mathematics, mechanical engineering, computer science, physics, or similar discipline.
• Experience in Julia, MATLAB, and GitLab is preferred. Other languages, e.g. C++ or Python, are welcome, but will be requested to learn/use Julia or MATLAB.
• Must be a keen learner, proactive in nature, and a strong responsibility person.
• Strong analytical techniques and problem-solving skill.
• Able to work independently and across different teams.
• Possess strong interpersonal, organizational, and planning skills.
• Knowledge in Financial Statement, SQL, VBA, and Bloomberg Terminal would be a plus.
• Able to handle pressure and meet deadlines.

4. VALIDATION TEAM

The Validation Team (VT) handles the assessment of models servicing a wide range of activities, including Probability of Default, Actuarial Spread, and Stress Testing models. As a member in the Validation Team, you will work on a variety of models covering many aspects of the model life cycle, including data management, methodology, programming, and quantitative assessment. Successful candidates will contribute to the assessment and evaluation of credit risk models.

Responsibilities:

• Independent evaluation of existing risk models including PD, AS and Stress Testing models.
• Assist with the delivery of the validation plan, ensuring timely identification of issues.
• Quantitative assessment of model performance via data evaluation and statistical testing.
• Coordination with internal stakeholders on model issues, achieving suitable resolutions.
• Deal with urgent and/or ad-hoc requests.

Requirements:

• Preferably major in the areas of Economics, Statistics, Mathematics, Finance, Physics, Computer Science, or similar discipline.
• Proactive attitude, strong sense of responsibility.
• Independent thinker and fast learner, strong interest in credit risk analysis.
• Curious, with the ability of speaking up and challenging perceived wisdom.
• Strong focus on quality control and attention to detail.
• Familiarity with MATLAB, Python, or R.
• Experience in SQL, VBA, or Julia is a plus.

5. DEVELOPMENT TEAM

The Development Team continuously improves in-house models and systems and develops new applications. As a member of the Development Team, the candidate should have an in-depth understanding of products and always keep an open mind to new things. The job scope ranges from data analysis, modelling, building production systems, and almost all tasks leverage heavily on programming. We welcome candidates who possess relevant technical skills and enjoy the challenging and exciting working environment.

Responsibilities:

• Have deep understanding on various models and products. Actively monitor model performances and research on possible improvements and new ideas.
• Design and build robust and readable codes for production usage to implement research outcomes.
• Write theoretical paper to disseminate research findings. Make demos and presentations internally and externally.
• Collaborate closely with the Client Service Team and develop proof of concept models in a fast pace to accommodate clients’ needs.
• Review weekly credit brief and provide insights.

Requirements:

• Bachelors or Masters in statistics, mathematics, quantitative finance or related discipline.
• Proficient programming skills such as Julia, Python, MATLAB, R, etc. Experience with building APIs or load balancers will be a plus.
• Strong sense of responsibility. Good team player.
• Able to work within fast moving, multi-tasking environments. Be proactive and passionate about building and developing new ideas and models.
• Ability to read and understand methodologies in research papers. Able to write research papers and good presentation skills.

6. Data Management Team

Data Management Team (DMT) takes care of all the data related needs, which acts as a data provider to all the other teams. 

Responsibilities:

• Daily monitoring of operating processes. 
• Importing data from various financial sources (Bloomberg, Thomson Reuters, etc.) into the database.
• Investigation of suspicious data and data cleaning. 
• Modification of data generating process to cater to changing operating requirements. 
• Creating and improving database elements for higher efficiency of the processes and quality of data (using MSSQL, MySQL). 
• Perform ad-hoc data related tasks as requested by other teams or clients. 

Requirements:

• Preferably major in the area of quantitative finance, mathematics, mechanical engineering, computer science, physics or similar discipline. 
• Knowledge and experience with SQL (T-SQL, MySQL), MATLAB, and Julia. 
• Knowledge in Python and Bloomberg Terminal is a plus. 
• Possess strong analytical and problem-solving skills. 
• Ability to work independently as well as part of a team as well as communicating effectively both orally and in writing. 
• Proactive in nature, quick response in case of operational issues, and has a strong sense of responsibility. 
• A keen learner and a strong interest in data management.

7. MARKET MONITORING TEAM 

The Market Monitoring Team (MMT) is a window to continually observe financial markets and carry relevant studies by using proprietary methods, aiming at promoting and improving the products. The main task for full-time analysts is to lead market surveillance, writing reports, data collection, and collaborating with other teams, etc. 

Responsibilities: 

• Carry out market surveillance by browsing media and official websites, finding out credit events in accordance with CRI’s credit event definition, entering credit event data in the database, etc. 
• Follow crucial market news and assist in writing weekly, quarterly and other special reports on credit market issues.  
• Lead projects and improvements in daily operations 
• Deal with urgent and/or ad-hoc requests from supervisors.  

Requirements: 

• Be meticulous and responsible for routine works. 
• Have an academic background or industry experience of any of the following subjects: economics, finance, accounting, banking, business strategy, and business law, etc 
• Be good at Excel modeling, financial analysis and written English. 
• Have a proven ability to independently write and edit financial research reports. 
• Be strongly interested in the fields of investment/ credit/ risk management analysis in the future career. 
• Being multilingual will be a plus. 

Application Details:

Applicants should submit their applications electronically to the team lead of the team that they are interested in. (Please refer to the CRI Team. Your application should include:

• Application Form;
• NUS Personal Data Consent for Job Applicants;
• A detailed CV;
• Cover letter.

We regret that only shortlisted candidates will be notified.