AVP, Model Validation

Job Description:

Role Summary/Purpose:

The AVP, Model Validation is responsible for performing end-to-end model validations and ensure they are meeting the internal MRM policies, standards, procedures as well as regulatory guidance (SR 11-7). This role requires extensive modeling expertise and serves as a project lead who is 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:

• Work as an independent reviewer who is responsible for end-to-end independent model validations and accountable for the quality of validation results and the compliance of validation and governance processes, drives communications and timelines with minimal guidance.

• Provide effective challenges for models built using a wide range of methodologies/techniques, including statistical methods, scorecards, machine-learning algorithms, business forecasting methods, etc., which are used by various businesses and functions within Synchrony to support credit risk, interest rate risk, liquidity risk, deal pricing, valuations, capital plan and stress testing, marketing, consumer banking frauds, and etc.

• 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.

• Serves as a subject matter expert of model risk management to effectively communicate with model stakeholders and support enhancements of existing MRM standards and procedures.

• Maintain comprehensive model validation documentation and support internal audits and regulatory examinations by providing documentation and addressing inquiries and feedback.

• Conduct independent research on regulatory requirements, industry best practice, latest technical/statistical/AI/ML methodologies and algorithms, and keep pace with the latest model development and validation in academia, regulatory environment, and financial services industry.

• 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, Economics, Quantitative Finance or related quantitative fields and 4+ years' experience in model development and/or model validation in financial services institutions or retail banking; in lieu of a Master’s degree, 8+ years’ experience in model development and/or model validation in financial services institutions or retail banking.

• Solid mathematical and statistical knowledge and machine-learning techniques to pinpoint key model risk and methodology flaws.

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

• 3+ years’ experience with statistical analyses with large amounts of data.

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

Desired Characteristics:

• Strong knowledge of U.S. regulatory requirements for Model Risk Management with proven track records of delivering regulatory requirements.

• 4+ years’ experience working in Model Risk Management in financial services industry, including hanks-on experiences in model validation, model development and quantitative analytics.

• Broad domain expertis