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AVP, Model Validation

Company: Synchrony Financial
Location: Stamford
Posted on: November 23, 2022

Job Description:

Job Description: Role Summary/Purpose: The AVP, Model Validation is responsible for leading and performing end-to-end model validations and ensure they are meeting the internal MRM policies, standards, procedures as well as regulatory guidance (SR 11-7). This role requires extensive modeling expertise and serves as a project lead who is accountable for validation results on a wide range of model categories. We're proud to offer you choice and flexibility. You have the option to be remote, and work from home, or come into one of our offices. You may be occasionally requested to commute to our nearest office for in person engagement activities such as team meetings, training and culture events. Essential Responsibilities:

  • Be Responsible for the full-scope end-to-end independent model validation and fully accountable for the compliance of validation and governance process, quality of validation results, and driving communications and timelines with minimal guidance.
  • Provide effective challenges for models built by a wide range of methodologies/techniques, including statistical methods, scorecards, machine-learning methods, business forecasting methods, etc., and used by various businesses and functions within Synchrony to support credit risk, interest rate risk, liquidity risk, pricing, valuations, capital plan and stress testing, marketing and advanced analytics, etc.
  • Perform in-depth analyses based on large datasets and identify key model risk, limitations and issues for in-house developed models as well as third-party models with proprietary nature.
  • Serves as a subject matter expert of model risk management with ability to enhance existing MRM standards and procedures, develop execution guidelines, address problems with ambiguity, and provide effective communications to model stakeholders across the organization.
  • Lead and coach analysts and junior reviewers in all types of validation activities.
  • Independently handle escalation of issues and dispute with model stakeholders, such as issue action plan, remediation, root cause analysis, and risk acceptance.
  • Maintain comprehensive model validation documentation and support internal audits and regulatory examinations through exam meetings, written and oral responses to examiners' questions.
  • Conduct independent research on regulatory requirements, industry best practice, latest technical/statistical/AI/ML methodologies and algorithms, and keep pace with the latest model developments in academia, regulatory environment, and financial services industry.
  • Lead and drive special reviews and projects in uncharted areas, with proven ability to define the scope and depth of the new project and provide solutions.
  • Support model governance initiatives and perform other duties and/or special projects as assigned. Qualifications/Requirements:
    • Master's degree (or foreign equivalent) in Statistics, Mathematics, Economics, Quantitative Finance or related quantitative fields and 4+ years' experience in model development and/or model validation in financial services institutions or retail banking; in lieu of a Master's degree, 8+ years' experience in model development and/or model validation in financial services institutions or retail banking.
    • 4+ years' hands-on and proven experience with data science, statistical and programing tools including Python, R, SAS, SQL, SPARK, and Data Lake.
    • 4+ years' experience with statistical analyses with large amounts of data
    • 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' experience working in Model Risk Management in financial services industry, including project experiences in both quantitative analytics/modeling/validation and governance.
      • Broad domain expertise on modeling, consumer credit risk, interest rate risk, funding and liquidity risk, valuations, deal pricing, capital plan and stress testing, loss forecasting, and marketing analytics.
      • Solid mathematical and statistical knowledge to pinpoint key model risk and methodology flaws.
      • Strong programing skills and problem solving skills to develop and validate large scale and complex programing codes.
      • 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 details.
      • Knowledge of Credit Card/Consumer Finance products and business model.
      • Excellent written and oral communication and presentation skills. 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 24 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).Applicants external to Synchrony who are currently employed on H-1B visa must have at least 2 years of eligibility remaining on their current visa term in order for Synchrony to petition for an employment based visa on behalf of such applicant. L1 visa would be considered for an internal candidate meeting all requirements for the L1 and all US Synchrony eligibility requirements. Applicants holding other types of visas, such as F-1 visas, must have at least 2 years of eligibility that would permit them to work for Synchrony.Our CommitmentWhen 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 Diversity Networks+ , with more than 60% of our workforce engaged, you'll find community to connect with and 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 race, color, religion, sex, 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-. Representatives are available from 8am - 5pm Monday to Friday, Central Standard Time.The salary range for this position is 85 000.00 USD AnnualSalaries are adjusted according to market in CA and Metro NY and some positions are bonus eligible.Grade/Level: 11Job Family Group:Risk Management

Keywords: Synchrony Financial, Stamford , AVP, Model Validation, Accounting, Auditing , Stamford, Connecticut

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