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Model Validator Senior - Enterprise Model Risk Management (Hybrid)

Company: USAA
Location: Stanley
Posted on: May 14, 2022

Job Description:

Purpose of JobWe are seeking a talented Senior Model Validator to work in the Enterprise Finance, Risk and Brand Model Validation within Enterprise Risk and Compliance (ERC). This individual will apply critical thinking to assess a model's suitability for business or regulatory requirement use. Various quantitative techniques (regression analysis, AI/ML, stochastic calculus, etc.) as well as communication and reading comprehension skills will be needed to effectively challenge models (internally-developed and vendor solutions) supporting core financial and marketing areas of the Enterprise. This is a hybrid role working partially from one of our regional offices and partially from home. (San Antonio TX, Plano TX, Charlotte NC, Tampa FL, Colorado Springs CO or Phoenix AZ.This role executes 2nd Line of Defense Model Risk Validation Oversight for the life-cycle management of models which includes conducing Model Validation Activities. Executes the model validation oversight process compliant with the written risk and compliance policies and procedures which require independence from model stewards (e.g., model owners, developers, implementers, users, and other stakeholders) throughout the lifecycle of the model's use and maintenance.Job RequirementsAbout USAAUSAA knows what it means to serve. We facilitate the financial security of millions of U.S. military members and their families. This singular mission requires a dedication to innovative thinking at every level.Primary Responsibilities:

  • Executes independent second line of defense model validation activities for high risk in-house and vendor models.
  • Leverages expert technical approaches to develop and execute validation testing plans.
  • Replicates model development and may develop challenger models through predictive modeling, machine learning, deep learning, time-series modeling/forecasting, stress testing, heuristic models, actuarial models, simulation, optimization, and/or other highly specialized techniques.
  • Conducts and develops plans for model testing and data quality assessments for models using various types of datasets including those leveraging large datasets and unstructured datasets.
  • Reviews at an extensive experience level the end-to-end life-cycle management of model development, implementation, ongoing monitoring, and use in areas of Banking and Insurance (Property & Casualty and Life) along with their corresponding business support functions and operational processes.
  • Assesses model inherent risk ratings, model declassifications applications, the materiality of model changes, and conducts model change validations for all types models. Oversees and advises the model validation work of peers.
  • Produces and delivers validation reports and related validation work to model validation management, model stakeholders, senior leadership, and others.
  • Executes the independent model validation process compliant with the written risk and compliance policies and procedures at an extensive experience level. Evaluates model risk control strengths around model development, implementation, and use. Professionally develops on emerging modeling techniques and approaches.When you apply for this position, you will be required to answer some initial questions. This will take approximately 5 minutes. Once you begin the questions you will not be able to finish them at a later time and you will not be able to change your responses.Minimum Requirements:
    • Bachelor's degree in a quantitative field, such as Economics, Mathematics, Statistics, Actuarial Science, Data Science, Engineering, Computer Science, or a Related Field with Core Quantitative Curriculum. (4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree).
    • 6 years of related work experience in model validation, model development, statistical analysis, and/or advanced quantitative research OR Advanced degree (e.g., Master's, PhD) in a quantitative field, such as Economics, Mathematics, Statistics, Actuarial Science, Data Science, Engineering, Computer Science, or Related Field with Core Quantitative Curriculum and 4 years of related work experience in model validation, model development, statistical analysis, and/or advanced quantitative research.
    • Experience driving communication verbally and in writing quantitative/technical concepts and conclusions to non-technical audiences, senior leadership, auditors, and/or regulators.
    • Strong programming skills in R, Python, SAS, Java, C, SQL, and/or other comparable programming languages for the iterative methodological tenants of model and algorithm development including setting model specifications, assumption testing, data quality assessments, variable selection, back-testing, benchmarking, and other robust model testing.
    • Extensive Experience with at least three of the following statistical, econometric, data science, and predictive modeling approaches: Unsupervised Learning; K-Means; Linear Regression; Time-Series/Forecasting; Stress Testing; Logistic Regression; Gaussian Process; Simulation Models; Boosting/Bagging Trees; Neural Networks; Deep Learning Concepts; Bayesian Estimators.
    • Strong business context knowledge in operational and support functions of Banking and/or Insurance as well as associated modeling and analytics knowledge.Preferred Experience:
      • Prior experience developing or validating stress testing, economic capital, curve construction models.
      • Experience with validation or deploying AI/ML methodologies for brand or marketing initiatives.
      • Experience validating models according to Federal Reserve SR11-7 and/or OCC 2011-12.
      • Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA) certification.The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.Compensation:USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market position. The salary range for this position is: $117,600 - $211,700* (this does not include geographic differential it may be applied based on your work location)Employees may be eligible for pay incentives based on overall corporate and individual performance or at the discretion of the USAA Board of Directors.*Geographical Differential: Geographic pay differential is additional pay provided to eligible employees working in locations where market pay levels are above the national average. Shift premium: will be addressed on an individual-basis for applicable roles that are consistently scheduled for non-core hours. Benefits:At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.Please click on the link below for more details.USAA Total RewardsRelocation assistance is not available for this position.

Keywords: USAA, Gastonia , Model Validator Senior - Enterprise Model Risk Management (Hybrid), Executive , Stanley, North Carolina

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