AVP, Model Validation Lead (Consumer Credit Risk and Underwriting Focus)

Navy Federal Credit Union
Vienna, VA
Oct 19, 2021
Oct 21, 2021
Accountant, IT
Full Time
YOUR LIFE'S MISSION: POSSIBLE You have goals, dreams, hobbies and things you're passionate about. What's Important to You Is Important to Us We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them-friends, family and passions. And we're looking for team members who are passionate about our mission-making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it. FORTUNE 100 Best Companies to Work For(R) Computerworld(R) Best Places to Work in IT FORTUNE(R) Best Workplaces for Millennials Forbes(R) America's Best Employers IND123 Basic Purpose Navy Federal's model risk management program is mission critical in identifying model risk and helping the credit union elevate the outcomes of its modeling and business uses. This role will lead the second line Consumer Credit Risk (including Allowance, Loss Forecasting) and Underwriting model risk team and/or other areas as assigned. To lead model risk for a portfolio of business unit models and assist in the development of the enterprise level Model Risk Management (MRM) program. Collaborate with NFCU business units to identify and manage model risks, recommend solutions, ensure sound model governance practices, and elevate modeling across NFCU. Understand the businesses and context around model use and model decisions, ensure that models are used appropriately in the business context, and that model users are aware of the models' weaknesses and limitations and how these can impact their decisions. Provide thought leadership to build independent model validation practices and ongoing model risk management activities. Serve as a subject matter expert in model development and model risk management. Manage the daily activities of technical model validation staff. Support executive management in evaluating enterprise model risk and in developing strategies to mitigate and control model risk in support of business initiatives, compliance objectives, and modeling innovation. Responsibilities: Lead and drive a team to implement activities defined in the model risk management framework, including independent validation of internally developed and vendor models across the businesses Identify sources of risk in models, review model findings for appropriateness, consistency, and clarity and track model risk themes Challenge business unit models and lead transparency around model weaknesses/limitations and impact to business decisions, and for the overall improvement and innovation of models Communicate model risk activities (eg, validations) through formal validation reports as well as thorough presentations to model owners, senior/executive management, model developers, and other stakeholders Develop/update model validation programs in line with overall MRM objectives Instill model risk management principles and raise awareness of model risk management throughout the enterprise; stay informed on industry trends and general MRM practices Provide informed and objective challenge to executive and management on model risk activities through clear and concise communications Partner with business units to maintain a complete model inventory Collaborate with business units to ensure effective model documentation is provided, model controls and best practices are in place, and adequate information is provided to MRM Oversee the development of challenger models and model critical analyses Coordinate and guide staff as necessary to conduct comprehensive analysis within defined timelines Ensure quality and accuracy of model assessments and that recommendations align with business expectations and needs Manage model validation resource plans and project timelines Advise business units on remediation to prevent negative model impacts to Navy Federal's financials, reputation, and strategic plans Provide and maintain deep and up-to-date knowledge of relevant industry standards, best practices, and business processes and technology used in model risk management and model development within the financial services industry Influence adoption of modeling advancements to deliver business value Represent MRM on teams and task groups for projects/initiatives across the organization and act as a source of effective challenge Manage relationships to ensure effective collaboration with all business units, risk management and compliance groups, procurement, 3rd party representatives, and all other relevant stakeholders Perform outreach activities to new business areas engaged in modeling Perform supervisory/managerial responsibilities Perform other duties as assigned Qualifications and Education Requirements: Master's or advanced degree in a Computer Science, Data Science, Statistics or related field, or the equivalent combination of training, education and experience Independent, accountable, and skilled in exercising sound judgment and decisiveness under pressure Strong analytical and quantitative skills to understand and validate models effectively Management experience in model development or validation Experience leading high performing teams and ability to develop and maintain relationships Strong communication skills and confidence in speaking with internal and external stakeholders Ability to communicate clearly and precisely on technical and business topics Familiar with the latest technology in advanced modeling approached Extensive experience with models in multiple business uses (credit, underwriting, finance, marketing, loss forecasting, fraud detection, customer churn, staffing, etc.) Experience with multiple modeling types such as: classification, regression, time series, clustering, text analytics, survival, association, optimization, reinforcement learning. Advanced expertise with statistical software (eg, R, Python, SPSS Modeler, and/or SAS) to manage large data sets and to develop models Ability to interpret analytics and statistical results for presentation to a variety of audiences including executive leadership Significant experience working in or consulting for financial institutions in a modeling or analytical context Expert thought-leadership, initiative-taking, decision-making and creatively solving business problems Extensive experience managing multiple priorities independently and/or in a team environment to achieve goals Advanced skill building effective relationships through rapport, trust, diplomacy, and tact Advanced skill to influence, negotiate, persuade, and build consensus to reach agreeable exchange and positive outcomes with business partners Desired Qualifications and Education Requirements: PhD in Data Science, Statistics or related field Experience with automated risk modeling systems and software Experience with credit union financials and/or NCUA regulations Experience working in a 2nd line of defense MRM governance role Hours: Monday-Friday, 8:00am-4:30pm Location: 820 Follin Lane, Vienna, VA 22180 As a COVID-19 safety measure, our employees must either provide proof of COVID-19 vaccination or follow additional safety protocols, including testing. Due to COVID-19 and social distancing, this position will be temporarily working from home with plans to return to campus at the desired location listed once Navy Federal is back to normal operations. The specific logistics for returning to campus will be determined at a future date by individual leadership. Equal Employment Opportunity Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability Disclaimer Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Bank Secrecy Act Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.

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