AI & Model Risk Lead

At Allstate, great things happen when our people work together to protect families and their belongings from life’s uncertainties. And for more than 90 years our innovative drive has kept us a step ahead of our customers’ evolving needs. From advocating for seat belts, air bags and graduated driving laws, to being an industry leader in pricing sophistication, telematics, and, more recently, device and identity protection. 

Job Description

The Enterprise AI and Model Risk Lead Consultant will assist in the facilitation of the governance and validation over the strategy of Allstate Enterprise Model Risk Management (EMRM), which includes Artificial Intelligence (AI) risk management. This role is responsible and accountable for the effective technical challenge of non-AI and AI models used at Allstate on the following model aspects:

- Conceptual Soundness
- Data Assessment
- Model Implementation
- Model Performance
- Model Documentation

Additionally, the role is responsible for executing the enterprise model and AI risk strategy and programs through the advancement of its various tracks. The role includes performing enterprise model risk assessments/health checks, identifying and assisting areas that require model risk management (including deployments of AI and Generative AI models), building out new structure to address AI and generative AI models, revising and formalizing enterprise model and AI risk management policy and supporting standards, as well as advancing automation of model and AI risk management into the enterprise model deployment platform. The role requires heavy coordination cross-functionally across areas of responsibilities. The individual will report to the Manager of Enterprise Model and AI Risk Management and will have meaningful interactions with leaders across the company.

Key Responsibilities

• Work with the Manager of Enterprise Model and AI Risk Management to build a model validation schedule and design the test plan used for model validation
• Support the automation of ongoing performance monitoring process in partnership with the Information Technology team.
• Work in a team that coordinates cross-functional enterprise model and AI risk management and health check assessments
• Provide independent opinion on AI Governance Risk Framework and how it can be improved.
• Execute the overarching model and AI risk strategy
• Lead and execute various model and AI risk strategy tracks across the enterprise model risk management teams
• Further embed model and AI governance controls across 1st and 2nd line, including the proactive identification of models as they are deployed / modified
• Coordinate the implementation of Generative AI and broader AI deployment requirements across the enterprise
• Lead and execute targeted model and AI risk assessments. Identify cross-theme solutions
• Partner with Business Unit CROs, leaders, model stewards and developers to integrate 1st line controls and capabilities into enterprise model risk management
• Responsible for working within the core team of enterprise model risk management, and training team members as necessary

Functional Skills

• Understanding of model and AI risk in the insurance industry

• Understanding of the development, application, deployment and management of AI and generative AI technology

• Understanding of AI and model governance and operations (AI and model development and deployment), including policies, standards, validations, post-production monitoring, control expectations

• Experience in the risk evaluation of machine learning, generative AI, natural language processing prior to and post deployment is highly valued

• Technical data science, modeling and AI validation expertise and experience a plus

• Background in insurance business, audit/ risk management, and corporate strategy is highly valued

• Organized and proficient in prioritization and overall program management

• Data driven decision-making skills

• Ability to consider interdependencies (industry trends, business & economic conditions) and anticipates their implications when making recommendations

• Experience navigating complex situations and seeking consensus from a diverse group of stakeholders

• Ability to communicate complex subject matter effectively

• Ability to manage relationships and establish a network of contacts throughout the organization

• Strong critical thinking, adaptability, and problem-solving skills around complex business issues

• Leadership, project, and time management skills; negotiation skills

• Strong desire to learn new processes