Quantitative Analyst, CoStar Risk Analytics

Job Description

CoStar Group (NASDAQ: CSGP) is a premier global provider of commercial and residential real estate information, analytics, and online marketplaces. As a member of the S&P 500 Index and NASDAQ 100, CoStar Group is on a mission to digitize the world’s real estate, enabling people to discover properties, insights, and connections that enhance their businesses and lives.

With over 35 years of deep industry expertise, CoStar Group has continually refined and transformed its business to offer unparalleled value to its customers. Our innovative approach has established industry standards embraced by clients and competitors alike. We remain committed to driving innovation and excellence to benefit our customers, employees, and investors. By equipping talented professionals with cutting-edge resources, we deliver a unique competitive advantage in real estate.

About CoStar Risk Analytics
Based in Boston, MA, CoStar Risk Analytics serves a broad range of participants in the commercial real estate (CRE) lending market. Our solutions empower lenders to better target business opportunities, accurately price loans, make informed credit decisions, and actively manage portfolios through rigorous stress testing and monitoring. We support public and private lenders including commercial banks, financial institutions, pension funds, insurance companies, government agencies, and rating agencies.

We are currently seeking a Quantitative Analyst to join our growing Boston team. This role focuses on developing and enhancing Compass, CoStar’s industry-leading credit risk model and the core calculation engine for the CoStar Lender product.

Key Responsibilities

• Conduct independent, innovative quantitative research to model loan default risk, prepayment risk, recoveries, risk rating, CECL, capital adequacy, and other credit risk factors across commercial mortgage, residential mortgage, commercial & industrial loans, and CMBS.

• Perform ongoing model validation and identify opportunities for enhancement and recalibration.

• Translate business analytic and modeling requirements into actionable product features; research data needs and evaluate model frameworks.

• Utilize data mining techniques to identify, validate, and integrate datasets for model development and testing.

• Develop detailed functional specifications for new model calculations and features.

• Build prototype models using Python, R, or SAS, and generate test files for model validation.

• Collaborate closely with product teams and IT developers to implement, test, and troubleshoot model features and resolve code issues.

• Prepare comprehensive documentation and presentations on model features for both internal teams and external stakeholders.

• Manage and QA historical and forecast data tables to support ongoing model implementation.

• Support client needs by providing model training, interpretive analysis, validation, and regulatory compliance assistance.

• Conduct market research on modeling methodologies, regulatory frameworks, and industry trends.

Basic Qualifications

• Bachelor’s degree from an accredited institution.

• Proven commitment to previous employers.

• Master’s degree in Economics, Statistics, Real Estate, Finance, Financial Engineering, Data Analytics, or related field.

• Minimum 3 years of relevant experience in research-oriented environments or financial services including banking, insurance, investment management, commercial real estate, or accounting.

• Strong knowledge of applied statistical analysis, econometrics, stochastic processes, and quantitative methods.

• Proficiency in programming languages such as Python, R, SQL, SAS, or Stata, with experience handling large datasets.

• Strong attention to detail and accuracy.

• Excellent problem-solving and analytical skills.

• Ability to clearly communicate model concepts to both technical and non-technical audiences.

Preferred Qualifications

• Experience with credit risk modeling including Probability of Default (PD), Loss Given Default (LGD), and Expected Loss (EL) for wholesale lending.

• Familiarity with regulatory frameworks such as CCAR/DFAST, CECL, and Basel III.

• Awareness of emerging industry trends including AI/machine learning, climate risk, and ESG.

• Experience with market analytical tools such as Bloomberg, Intex, or Trepp.

What We Offer

At CoStar Group, you’ll join a collaborative and innovative environment alongside talented professionals dedicated to empowering our people and customers to thrive.

We provide competitive compensation and performance-based incentives, along with investments in your professional growth through internal training, tuition reimbursement, and an inter-office exchange program.

Benefits Include (but are not limited to):

• Comprehensive healthcare coverage (Medical, Vision, Dental, Prescription Drugs)

• Life, legal, and supplemental insurance

• Virtual and in-person mental health counseling for individuals and families

• Commuter and parking benefits

• 401(k) retirement plan with matching contributions