Senior Manager Model Validation

Last updated 20 days ago
Location:Riverwoods, Illinois

Discover. A brighter future.

With Discover, you’ll have the chance to make a difference at one of the world’s leading digital banking and payments companies. From Day 1, you’ll do meaningful work you’re passionate about, with the support and resources you need for success. We value what makes each employee unique and provide a collaborative, team-based culture that gives everyone an opportunity to shine. Be the reason millions of people find a brighter financial future, while building the future you want, here at Discover.

Job Description

At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee-focused as it is on its customers, and which is consistently awarded for both. We’re all about people and our employees are why Discover is a great place to work. Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career.

The Model Risk Management unit (MRM) has enterprise-wide oversight responsibility for all aspects of model risk including model governance, model validation and model performance monitoring. This group validates and approves all qualifying models used across different areas of the enterprise.

This highly visible position within MRM will manage a team of validators responsible for executing model validation activities for financial models such as CECL, CCAR, PPNR, Operational Risk and Economic Capital models in accordance with relevant corporate policies and procedures. The employee will work closely with DFS modeling teams for independent validation projects and for other ongoing monitoring/effective challenge activities. This Senior Manager will also provide recommendations for continuous model enhancements across the enterprise.

RESPONSIBILITIES:

  • Manages a team of model validators and provides effective supervision of their work products.
  • Maintains model-validation documentation.
  • Interacts with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of model validation processes.
  • Identifies emerging model risk issues impacting the company and communicates to model developers, management, and committees.
  • Maintains and develops analytical reports and presentations for leadership, committees, and regulatory examinations.
  • Performs validations and effective challenge of financial and account management models, including balance sheets, anti-money laundering, revenue, expenses, credit losses, economic capital, regulatory capital, treasury, interest rates, acquisition scorecards, and operational risk models.
  • Leads validations and effective challenge of financial and account management models including: balance sheets, anti-money laundering, revenue, expenses, credit losses, economic capital, regulatory capital, treasury, interest rates, acquisition scorecards, AML, fraud and machine learning models.
  • Interprets model validation test results and establishes required action plans.
  • Helps establish and maintain model validation policies, standards and procedures.
  • Maintains strong relationships with business and model owners in prioritizing validation work
  • Responsible for the coaching, hiring, firing of team members. Provides oversight and direction to staff.

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Minimum Qualifications

At a minimum, here’s what we need from you:

  • Master's Degree in Economics, Statistics,Finance, Business, Mathematics and Analytics

  • 6+ years of experience building, testing, implementing and validating complex and sophisticated models used in the financial services industry, or related experience

Preferred Qualifications

If we had our say, we’d also look for:

  • Ph.D. in Economics, Statistics,Finance, Business, Mathematics or Analytics,orrelatedquantitative fields

  • 8+ years ofexperience in building, testing, implementing,and validating complex and sophisticated models used in the financial services industry, or related experience

  • People management experience

  • Excellent communication skills

What are you waiting for? Apply today!

The same way we treat our employees is how we treat all applicants – with respect. Discover Financial Services is an equal opportunity employer (EEO is the law). We thrive on diversity & inclusion. You will be treated fairly throughout our recruiting process and without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status in consideration for a career at Discover.