Sr Mgr, Financial Model Risk Oversight

The Company

PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. 

We operate a global, two-sided network at scale that connects hundreds of millions of merchants and consumers. We help merchants and consumers connect, transact, and complete payments, whether they are online or in person. PayPal is more than a connection to third-party payment networks. We provide proprietary payment solutions accepted by merchants that enable the completion of payments on our platform on behalf of our customers.

We offer our customers the flexibility to use their accounts to purchase and receive payments for goods and services, as well as the ability to transfer and withdraw funds. We enable consumers to exchange funds more safely with merchants using a variety of funding sources, which may include a bank account, a PayPal or Venmo account balance, PayPal and Venmo branded credit products, a credit card, a debit card, certain cryptocurrencies, or other stored value products such as gift cards, and eligible credit card rewards.  Our PayPal, Venmo, and Xoom products also make it safer and simpler for friends and family to transfer funds to each other. We offer merchants an end-to-end payments solution that provides authorization and settlement capabilities, as well as instant access to funds and payouts. We also help merchants connect with their customers, process exchanges and returns, and manage risk. We enable consumers to engage in cross-border shopping and merchants to extend their global reach while reducing the complexity and friction involved in enabling cross-border trade. 

Our beliefs are the foundation for how we conduct business every day.  We live each day guided by our core values of Inclusion, Innovation, Collaboration, and Wellness. Together, our values ensure that we work together as one global team with our customers at the center of everything we do – and they push us to ensure we take care of ourselves, each other, and our communities.

Job Description Summary:

We are seeking a highly motivated and experienced Model Risk Oversight professional to join our Enterprise Risk Management Organization.

It is a senior strategic role, responsible for overseeing reserve, loss forecasting, stress testing and other finance and treasury models as part of the enterprise Model Risk Management function. This individual will also contribute to other initiatives such as capital and liquidity adequacy assessment for the bank licensed legal entities.

Job Description:

The AI/Model/Quant Risk Oversight team:

·       Oversees and proactively challenges our model use and AI application. 

·       Supports effective model development/deployment and responsible AI innovation

Ensure model/AI practice meets regulatory compliance requirement, strengthening decision-making, protecting customers and safeguarding the company from financial and reputational damage

Your way to impact

You will make an impact by ensuring that;

• PP’s Credit (CECL/IFRS9) and Transaction Loss Reserving is adequate
• Annual regulatory submissions (ICAAP, ILAAP, Recovery Plan, other ad hoc request) are carried out with models that are thoroughly reviewed and risk identified/mitigated
• Global stress testing framework is developed and updated that accomodates PP’s unique business models
• Internal loss forecasting, stress testing and other relevant finance treasury models are thoughtfully developed to support various business requirement

Your day-to-day

In your day-to-day role, you will XXX

In your day-to-day role you will;

• Perform quantitative and qualitative model validation on Finance/Treasury models (reserving, capital, liquidity, stress testing, etc) according to Model Risk Management Policy to identify model risks that might have financial and regulatory implication
• Provide oversight on Credit (CECL/IFRS9) and Transaction Loss Reserving, including the assessment of qualitative overlay
• Provide oversight on loss forecasting, internal and regulatory stress testing exercises
• Review and support annual regulatory submissions (ICAAP, ILAAP, Recovery Plan, other ad hoc request)
• Collaborate with Finance, Treasury and other FLOD stakeholders to remediate issues identified and provide subject-matter expert opinion on improvements