VP, Model Validation and Validation COE
Company: Disability Solutions
Location: New York
Posted on: October 8, 2024
Job Description:
Job Description:Role Summary/Purpose:The VP, Model Validation
and Validation COE is responsible for performing model validation
for all the fraud models, and ensure they are meeting the related
MRM policies, standards, procedures as well as regulations (SR
11-7). In addition, this role will establish and maintain a
validation center of excellence to support the model governance
team in designing the quality assurance process and leading the
execution across all validations, --act as an incubation center to
test and run innovation, provide standardized training and staff
development, and support the improvement of the model risk
professional practice to improve the model stakeholder experience.
----This role requires high level of expertise with minimal
technical supervision to serve as project lead as well as being
accountable for validation results. The COE will closely partner
with the model governance lead as well as other validation leads to
drive tangible improvements to the model risk practice. ----Our Way
of WorkingWe're proud to offer you choice and flexibility. At
Synchrony, our way of working allows you to have the option to work
from home, near one of our Hubs or come into one of our offices.
Occasionally you may be required to commute to our nearest office
for in person engagement activities such as business or team
meetings, training and culture events.--Essential
Responsibilities:Candidate will be responsible for work related to
model validation and validation COE, both of which are outlined
below:--Model Validation COE:The candidate is expected to draw
experience from validation to establish a validation center of
excellence and support the model governance lead to drive best
practice, specifically the objectives of the COE are: --
- Quality assurance: Establish a quality assurance process to
deep dive on validation practice across all model types. Challenge
status quo and identify requirements and/or validation gaps
proactively. Support the Model Governance team to make improvement
recommendations and implement enhancements.
- Strategy &-- Innovation: Act as an incubation center to
test and run innovative ideas to improve model validation speed,
efficiency, and quality (e.g. use Gen AI insights). Support the
model governance team in implementing the changes.
- Training and Staff Development: Provide standardized but
individualized training to ensure new validation hires are brough
up to speed within a time window. Formalize career development and
training programs to support existing employees' career goals.
- Professional Practice: Support the Model Governance team to
improve 1LOD model owner experience and bring value focused
validation practice. Model Validation:
- Accountable for all fraud model risk management and drive the
timeline and completion of the projects with minimal guidance.
- Supervisory role working with junior reviewers in validation
projects.
- Handle escalation of issues and dispute with model owner level
independently. See through the issues remediation, root cause
analysis, and potential risk acceptance.
- Support regulatory examinations and internal audits of the
modeling process and selected models samples.
- Perform other duties and/or special projects as
assigned.--Qualifications/Requirements:
- Master's degree (or foreign equivalent) in Statistics,
Mathematics, Data Science or related quantitative field and 5+
years' experience in model development / model validation
experience in financial services, banking, or retail; in lieu of a
Master's degree, 9+ years' experience in model development / model
validation experience in financial services, banking, or
retail
- 4+ years' hands-on and proven experience with data science and
statistical tools including Python, R, SAS, and SQL, SPARK, and
Data Lake.
- 4+ years of statistical analysis and the handling large amounts
of data and analyzing for trends.
- 4+ years' experience with the application of US regulatory
requirements for Model Risk Management. Desired Characteristics:
- Strong knowledge of Regulatory requirements for Model Risk
Management with proven track records of delivering Regulatory
requirements.
- 5+ years in Model Risk Management in modeling and validation in
the financial services industry including both
analytic/modeling/quantitative experience and governance or other
credit/financial discipline.
- Experience in machine learning model development or validation
in fraud and credit
- Experience in people and project management, including
demonstrated ability to develop actionable plan to meet high level
objectives, strong execution, and timeline sensitive
deliverables.
- Sharp focus on accuracy with extreme attention to detail.
- Knowledge of Credit Card/Consumer Finance products and business
model.
- Excellent written and oral communication and presentation
skills.Grade/Level: 12The salary range for this position is
130,000.00 - 210,000.00 USD Annual and is eligible for an annual
bonus based on individual and company performance.Actual
compensation offered within the posted salary range will be based
upon work experience, skill level or knowledge.Salaries are
adjusted according to market in CA, NY Metro and
Seattle.Eligibility Requirements:
- You must be 18 years or older
- You must have a high school diploma or equivalent
- You must be willing to take a drug test, submit to a background
investigation and submit fingerprints as part of the onboarding
process
- You must be able to satisfy the requirements of Section 19 of
the Federal Deposit Insurance Act.
- New hires (Level 4-7) must have 9 months of continuous service
with the company before they are eligible to post on other roles.--
Once this new hire time in position requirement is met, the
associate will have a minimum 6 months' time in position before
they can post for future non-exempt roles.-- Employees, level 8 or
greater, must have at least 18 months' time in position before they
can post.-- All internal employees must consistently meet
performance expectations and have approval from your manager to
post (or the approval of your manager and HR if you don't meet the
time in position or performance expectations).Legal authorization
to work in the U.S. is required.-- We will not sponsor individuals
for employment visas, now or in the future, for this job
opening.--All qualified applicants will receive consideration for
employment without regard to race, color, religion, sex, sexual
orientation, gender identity, national origin, disability, or
veteran status.--Our Commitment:When you join us, you'll be part of
a diverse, inclusive culture where your skills, experience, and
voice are not only heard-but valued. We celebrate the differences
in all of us and believe that our individual, unique perspectives
is what makes Synchrony truly a great place to work. Together,
we're building a future where we can all belong, connect and turn
ideals into action. Through the power of our 8--, with more than
60% of our workforce engaged, you'll find community to connect with
an opportunity to go beyond your passions.This starts when you
choose to apply for a role at Synchrony. We ensure all qualified
applicants will receive consideration for employment without regard
to age, race, color, religion, gender, sexual orientation, gender
identity, national origin, disability, or veteran status.Reasonable
Accommodation Notice:
- Federal law requires employers to provide reasonable
accommodation to qualified individuals with disabilities. Please
tell us if you require a reasonable accommodation to apply for a
job or to perform your job. Examples of reasonable accommodation
include making a change to the application process or work
procedures, providing documents in an alternate format, using a
sign language interpreter, or using specialized equipment.
- If you need special accommodations, please call our Career
Support Line so that we can discuss your specific situation. We can
be reached at 1-866-301-5627.---- Representatives are available
from 8am - 5pm Monday to Friday, Central Standard TimeJob Family
Group:Credit
Keywords: Disability Solutions, Middletown , VP, Model Validation and Validation COE, Executive , New York, Connecticut
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