Principal Model Validation

Discover. A brighter future.

With us, you’ll do meaningful work from Day 1. Our collaborative culture is built on three core behaviors: We Play to Win, We Get Better Every Day & We Succeed Together. And we mean it — we want you to grow and make a difference at one of the world's leading digital banking and payments companies. We value what makes you unique so that you have an opportunity to shine.

Come build your future, while being the reason millions of people find a brighter financial future with Discover.

Job Description:

What You'll Do

Responsible for managing the execution of validation activities for financial models, acquisition and portfolio management scorecards, AML models and anti-fraud tools in accordance with the governance framework, policies and procedures, and provide recommendations for continuous model enhancements across the enterprise.

Actively manages and escalates risk and customer-impacting issues within the day-to-day role to management.

How You'll Do It

• Manages independent model validations and effective challenge of financial and account management models such as balance sheet/ALM, revenue, expense, credit loss, economic capital, regulatory capital, treasury, interest rate, acquisition scorecards, ML/AI models, AML models, and operational risk models.

• Interprets model validation test results and establish required action plans with model owners/developers and provide value-added recommendations to model owners/developers.

• Maintains current/develop new analytical reports and presentations for senior management, executive committees and regulatory exams.

• Manages the work flow of a team of off-shore model validators.

• Actively participates in the production, maintenance and compliance with model validation policies, standards and procedures.

• Proactively identifies emerging model risk issues impacting the Company and communicates to model developers, senior management and the DFS Model Governance Committee.

• Maintains standardized model validation documentation, and keeps up to date with regulations, regulatory exam requirements and regulatory guidance.

• Interacts with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model validation process.

Qualifications You'll Need
The Basics:

• Master's degree in Economics, Statistics, Business Administration and Management, Engineering, or related field.

• 4+ years of experience building, testing, implementing and validating complex and sophisticated models used in the financial services industry, or related experience.

Physical and Cognitive Requirements
The physical requirements described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable a qualified individual with disabilities to perform the essential functions of the position as required by federal, state, and local laws:

• Primarily remain in a stationary position.

• No required movement about the work environment to complete the major responsibilities of the job.

• Primarily performed indoors in an office setting.

• Ability to operate office equipment such as but not limited to computer, telephone, printer, and calculator.

• Ability to communicate verbally.; Ability to communicate in written form.

• Travel up to 10% of the time.

Bonus Points If You Have:

• Ph.D. in Economics, Statistics, Engineering, Business Administration and Management, or related field.

• 6+ years of experience building, testing, implementing and validating complex and sophisticated models used in the financial services industry, or related experience.

• FRM, PRM.

Discover will not sponsor or transfer employment work visas for this position. Applicants must be currently authorized to work in the United States on a full-time basis.

Application Deadline:

The application window for this position is anticipated to close on Mar-11-2025. We encourage you to apply as soon as possible. The posting may be available past this date, but it is not guaranteed.

Compensation:

The base pay for this position generally ranges between $91,000.00 to $153,400.00. Additional incentives may be provided as part of a market competitive total compensation package. Factors, such as but not limited to, geographical l