AVP, Model Validation

Job Description:

Role Summary/Purpose:

The AVP, Model Validation is responsible for model validation focusing on Loss/reserve /recovery  forecast , AML, collection and other models and ensure they are meeting the related Model Risk Management policies, standards, procedures as well as regulations (SR 11-7). This role requires sufficient expertise to serve as project lead as well as being accountable for validation results on a wide range of model categories under adequate technical supervision.

Our Way of Working

We’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.

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.

Essential Responsibilities:

• Serve as a key contributor  to perform full scope end-to-end model review, annual review, ongoing monitoring model performance etc. for both internally and vendor-developed models, including new and existing, statistical/ML or non-statistical models with effective challenges to identify potentials issues requiring further investigation, and resolve problems 

• Lead and supervise the full scope validation and other reviews, be held full accountability on the validation quality, and drive the timeline and completion of the projects with minimal guidance from the review manager/supervisors

• Provide supportive coaching and guidance to junior team members by offering mentorship, training, and constructive performance . Facilitate continuous improvement by addressing challenges and fostering a supportive team environment. 

• Perform in-depth analyses on model methodologies, assumptions, and performance trends 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.

• Keep pace with the latest model developments and validation practice in academic , regulatory environment and financial services industries to provide technical consultation and process improvement to MRM 

• Provide support during regulatory examinations and internal audits of the model validation process by preparing necessary documentation, addressing inquiries and assisting in remediation of observations, etc.

• Collaborate and engage with various Synchrony functional teams to uncover, highlight, and identify model risk associated with models. Keep maintenance of relevant model and model validation documentation, perform in depth analysis and reports to support discussions on key analytics and model risks.

• Perform other duties and/or special projects as assigned.

• 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, Data Science or related quantitative field and 4+ years' experience in model development / model validation experience in financial services, banking, or retail; in lieu of a Master’s degree, 8 years’ experience in model development / model validation experience in financial services, banking, or retail

• Strong understanding and application of quantitative analysis methods  or approaches in relation to credit loss /reserve/recovery models, CECL, etc.

• Strong programing skills with 4+ years’ hands-on and proven experience utilizing Python, Spark , SAS, SQL, AWS, Data Lake to perform statistical analysis and manage complex or large amounts of data

• 4 years’ experience with the application of US regulatory requirements for Model Risk Management

Desired Characteristics:

• Advanced knowledge of Regulatory requirements for Model Risk Management (SR 11-7, OCC 2011-12, etc), CCAR, etc.

• 5+ years of pr