VP, Model Validation and Validation COE

Job Description:

Role Summary/Purpose:

The VP, Model Validation and Validation COE is responsible for performing model validation for all the fraud models, and ensure they are meeting the related MRM policies, standards, procedures as well as regulations (SR 11-7). In addition, this role will establish and maintain a validation center of excellence to support the model governance team in designing the quality assurance process and leading the execution across all validations,  act as an incubation center to test and run innovation, provide standardized training and staff development, and support the improvement of the model risk professional practice to improve the model stakeholder experience.  

This role requires high level of expertise with minimal technical supervision to serve as project lead as well as being accountable for validation results. The COE will closely partner with the model governance lead as well as other validation leads to drive tangible improvements to the model risk practice.  

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.

Essential Responsibilities:

Candidate will be responsible for work related to model validation and validation COE, both of which are outlined below:

Model Validation COE:

The candidate is expected to draw experience from validation to establish a validation center of excellence and support the model governance lead to drive best practice, specifically the objectives of the COE are:  

• Quality assurance: Establish a quality assurance process to deep dive on validation practice across all model types. Challenge status quo and identify requirements and/or validation gaps proactively. Support the Model Governance team to make improvement recommendations and implement enhancements.

• Strategy &  Innovation: Act as an incubation center to test and run innovative ideas to improve model validation speed, efficiency, and quality (e.g. use Gen AI insights). Support the model governance team in implementing the changes.

• Training and Staff Development: Provide standardized but individualized training to ensure new validation hires are brough up to speed within a time window. Formalize career development and training programs to support existing employees’ career goals.

• Professional Practice: Support the Model Governance team to improve 1LOD model owner experience and bring value focused validation practice.

Model Validation:

• Accountable for all fraud model risk management and drive the timeline and completion of the projects with minimal guidance.

• Supervisory role working with junior reviewers in validation projects.

• Handle escalation of issues and dispute with model owner level independently. See through the issues remediation, root cause analysis, and potential risk acceptance.

• Support regulatory examinations and internal audits of the modeling process and selected models samples.

• 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 5+ years' experience in model development / model validation experience in financial services, banking, or retail; in lieu of a Master’s degree, 9+ years’ experience in model development / model validation experience in financial services, banking, or retail

• 4+ years’ hands-on and proven experience with data science and statistical tools including Python, R, SAS, and SQL, SPARK, and Data Lake.

• 4+ years of statistical analysis and the handling large amounts of data and analyzing for trends.

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