AVP, Model Validation

Job Description:

Role Summary/Purpose:

The AVP, Model Validation is responsible for model validation focusing on Loss/reserve /recovery  forecast 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 high level of expertise with minimal technical supervision to serve as project lead as well as being accountable for validation results on a wide range of model categories.

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 model review, annual review, on going monitoring model performance etc. for both internally and vendor-developed models, including new and existing, statistical and Machine learning models, particularly in the area of loss forecast, with effective challenges to identify potentials issues requiring further investigation, and resolve problems

• 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.

• Lead and supervise the full scope end-to-end validation for both pre-implementation validation and revalidation and other reviews (annual review, limited scope review, change review, etc.), 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 sufficient 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.

• 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 comprehensive support during regulatory examinations and internal audits of the model validation process by preparing necessary documentation, addressing inquiries and questions, presenting model reviews 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.

• Support model governance initiatives and perform other duties and/or special projects as assigned.

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

Qualifications/Requirements:

• Master's degree (or foreign equivalent) in Statistics, Mathematics, and +4 years' experience in model development / model validation experience in the retail section of a U.S.  financial services or banking; in lieu of a Master’s degree, 8 years’ experience in model development / model validation experience.

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

• Thorough business knowledge and sharp acumen in loss forecasting with comprehensive understanding and strategic insight supporting ACL ( Allowance for Credit L