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Risk Model Validation Lead

Location: Las Vegas, NV, United States
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Description

Position Summary

The Model Validation Lead is responsible for high-quality model validation related to quantitative analytic modeling to ensure modeling techniques and results are consistent with the respective strategic uses and intended model performance and comply with related Model Risk Management policies, standards, procedures, and regulations. This role requires a high level of expertise with minimal technical supervision to serve as project lead and be accountable for validation results on a wide range of model categories.
Summary Essential Job Functions
  • Serve as a key contributor and lead manager supporting independent model validation for various models (Credit, Fraud, Collections, Marketing, Finance, Loss Forecasting, Stress Testing, etc.).
  • Perform the full scope end-to-end validation independently for assigned internally and vendor-developed models and existing models.
  • Produce high-quality model validation reports, with a particular focus on noting limitations, weaknesses, and assumptions.
  • Conduct self-study of developments in modeling and validation techniques, regulatory guidelines, and new analytical tools.
  • Guide model owners through the model validation process, including assisting in confirming model versus tools and informing model owners of governance and validation efforts required.
  • Keep pace with the latest developments in academia, regulatory environment, risk technology (vendor and in-house), and financial services industries to provide expert guidance to the Credit One Bank functions.
  • Supports regulatory examinations and internal audits of the modeling process and selected model samples.
  • Continuously drive better model risk management practices and add value to the business through more efficiency, stronger controls, better process, and strong partnership with model stakeholders.
  • Perform other duties and/or special projects as assigned.

Position Requirements

  • Masters degree or Ph.D. Degree in Finance, Economics, Mathematics, Statistics, Quantitative Analysis, or another technical discipline.
  • 5+ years of related experience at a Financial Institution or Consulting Firm in the areas of risk analysis, financial analysis, model validation, or model development
  • Experience with Machine Learning / AI methodologies and related applications
  • Excellent written and communication skills and ability to create and maintain quality model documentation.
  • Ability to collaborate effectively and follow up to ensure achievement of deadlines, outcomes, and results
  • Effectively communicate model findings to model owners and developers
  • Ability to work independently and self-motivate in a fast-paced and rapidly changing environment
Preferred
  • 5+ years of experience with Statistical tools like SAS, SQL, R or Python.
  • In-depth theoretical understanding and utilizing modeling techniques supporting the following: Big Data Analytics, Machine Learning, and/or Decision Models (Behavior, Credit, Fraud, etc.)
  • Previous experience in model development, model validation, predictive modelling, monitoring, or a good understanding of model risk and assessment
  • Strong knowledge of Model Risk regulatory requirements (e. g. SR 11-7/OCC 2011-12)
  • Experience in people and project management, including demonstrated ability to develop actionable plan to meet high level objectives, strong execution, and timeline sensitive deliverables.
Credit One Bank, N.A. is a data-driven financial services company based in Las Vegas. Founded in 1984, Credit One Bank offers a spectrum of credit card products for people in all stages of financial life. Credit One Bank is an equal opportunity employer committed to diversity and inclusion and does not discriminate against any employee or applicant for employment because of age, race, religion, color, disability, sex, sexual orientation, or national origin. Reasonable accommodations can be made for those who require them, including access to job applications and workplace accommodations. Employment at Credit One Bank is based on mutual consent (also known as at-will). This means that employees and the Bank may terminate the employment relationship at any time, with or without cause and with or without notice. Please contact the recruiter for this position to learn more. Credit One Bank does not accept unsolicited resumes from agencies and is not responsible for related fees.
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