What are the responsibilities and job description for the Principal Model Validation position at Discover?
Principal Model Validation
Remote
R20370
About This Role
Discover. A brighter future.
With us, you'll do meaningful work from Day 1. Ourcollaborative culture is built on three core behaviors: We Play to Win, We Get Better Every Day & We Succeed Together.And we mean it - we want you to grow and make a difference at one of the world's leading digital banking and payments companies. We value what makes you unique so that you have an opportunity to shine.
Come build your future, while being the reason millions of people find a brighter financial future with Discover.
Job Description
What You'll Do
Responsible for managing the execution of validation activities for financial models, acquisition, and portfolio management scorecards, AML models, and anti-fraud tools in accordance with the governance framework, policies, and procedures and provide recommendations for continual model enhancements across the enterprise.
How You'll Do It
- Manages independent model validations and effective challenge of financial and account management models such as balance sheet/ALM, revenue, expense, credit loss, economic capital, regulatory capital, treasury, interest rate, acquisition scorecards, ML/AI models, AML models, and operational risk models
- Interprets model validation test results and establishes required action plans with model owners/developers and provides value-added recommendations to model owners/developers.
- Maintains current and develops new analytical reports and presentations for senior management, executive committees, and regulatory exams.
- Manages the workflow of a team of offshore model validators.
- Actively participates in the production, maintenance and compliance with model validation policies, standards and procedures.
- Proactively identifies emerging model-risk issues impacting the company and communicates to model developers, senior management, and the DFS Model Governance Committee.
- Maintains high-quality standardized model validation documentation and keeps up to date with regulations, regulatory exam requirements, and regulatory guidance.
- Interacts with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model validation process.
Qualifications You'll Need
At a minimum, here's what we need from you:
- Master's degree in Economics, Statistics, Business, Engineering, or related quantitative field
- 4 years of experience building, testing, implementing, and validating complex and sophisticated models used in the financial services industry, or related experience
If we had our say, we'd also look for:
- PhD in Economics, Statistics, Finance, Business, or other quantitative field
- 6 years of experience in building, testing, implementing, and validating complex and sophisticated models (especially for CCAR or CECL purposes) used in the financial services industry, or related experience
#LI-RR1
What are you waiting for? Apply today!
All Discover employees place our customers at the very center of our work. To deliver on our promises to our customers, each of us contribute every day to a culture that values compliance and risk management.
Discover is committed to a diverse and inclusive workplace. Discover is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status, or other legally protected status. (Know Your Rights)
Remote
R20370
About This Role
Discover. A brighter future.
With us, you'll do meaningful work from Day 1. Ourcollaborative culture is built on three core behaviors: We Play to Win, We Get Better Every Day & We Succeed Together.And we mean it - we want you to grow and make a difference at one of the world's leading digital banking and payments companies. We value what makes you unique so that you have an opportunity to shine.
Come build your future, while being the reason millions of people find a brighter financial future with Discover.
Job Description
What You'll Do
Responsible for managing the execution of validation activities for financial models, acquisition, and portfolio management scorecards, AML models, and anti-fraud tools in accordance with the governance framework, policies, and procedures and provide recommendations for continual model enhancements across the enterprise.
How You'll Do It
- Manages independent model validations and effective challenge of financial and account management models such as balance sheet/ALM, revenue, expense, credit loss, economic capital, regulatory capital, treasury, interest rate, acquisition scorecards, ML/AI models, AML models, and operational risk models
- Interprets model validation test results and establishes required action plans with model owners/developers and provides value-added recommendations to model owners/developers.
- Maintains current and develops new analytical reports and presentations for senior management, executive committees, and regulatory exams.
- Manages the workflow of a team of offshore model validators.
- Actively participates in the production, maintenance and compliance with model validation policies, standards and procedures.
- Proactively identifies emerging model-risk issues impacting the company and communicates to model developers, senior management, and the DFS Model Governance Committee.
- Maintains high-quality standardized model validation documentation and keeps up to date with regulations, regulatory exam requirements, and regulatory guidance.
- Interacts with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model validation process.
Qualifications You'll Need
At a minimum, here's what we need from you:
- Master's degree in Economics, Statistics, Business, Engineering, or related quantitative field
- 4 years of experience building, testing, implementing, and validating complex and sophisticated models used in the financial services industry, or related experience
If we had our say, we'd also look for:
- PhD in Economics, Statistics, Finance, Business, or other quantitative field
- 6 years of experience in building, testing, implementing, and validating complex and sophisticated models (especially for CCAR or CECL purposes) used in the financial services industry, or related experience
#LI-RR1
What are you waiting for? Apply today!
All Discover employees place our customers at the very center of our work. To deliver on our promises to our customers, each of us contribute every day to a culture that values compliance and risk management.
Discover is committed to a diverse and inclusive workplace. Discover is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status, or other legally protected status. (Know Your Rights)
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