Sr Mgr Model Risk Controls
At Discover Financial Services, you'll find yourself in the company of some of the industry's smartest and most reliable professionals. And at a company that rewards dedication, values innovation and supports growth.
Thrive in an environment that promotes teamwork and shared success. Build on a foundation of mutual respect. Join the company that understands rewarding careers like no other, with this exceptional opportunity:
Requisition Number P132094_S1 Job Type Full Time Post Date Location Riverwoods (IL) Functional Area Risk Management Maximum Salary 0 Minimum Salary 0 Requisition Shift
Job Description
This individual will lead a team that is responsible for development and maintenance of modeling standards, best practices & procedures, ensuring regulatory compliance and monitoring & reporting of Key Risk Indicators.
RESPONSIBILITIES
Enhancement and institutionalizing of modeling standards & procedures along with regular incorporation of industry best practices.
Development and regular enhancement of model documentation standards that is in line with regulatory standards such as SR 11-7
Managing governance controls around entire model lifecycle from development, validation and implementation to retirement.
Monitoring and reporting of Key Risk Indicators based on model performance tracking, data quality and model usage
Maintenance of model inventory with up to date documentation, usage details and status
Collaboration with Corporate Risk Management and Compliance teams on maintaining consistency in policies and standards across organizations
Skills
MINIMUM REQUIREMENTS
Masters in economics, applied mathematics, statistics and other quantitative fields. Advanced degree preferred
Eight to fifteen years of financial or related industry experience in areas such as Modeling, Model Validation and Basel II
In depth understanding of regulatory requirements around Model Risk Management
Deep knowledge of statistical and data mining methods and best practices
Excellent communication and interpersonal skills
Extensive project management and leadership skills
Proven problem solving and decision making skills
Project management experience in a high-profile, deadline driven environment
RELATIONSHIP
This individual will report to a Director in Decision Management and her business partners will include all modeling areas under Decision Management such as Acquisition & Portfolio Credit Risk modeling, Collections & Recoveries modeling and Fraud & Authorization modeling as well as Corporate Risk Management and Compliance teams.
Educational Requirements
Masters Degree
Skills
RESPONSIBILITIES
Enhancement, management and institutionalization of model policies, standards & procedures to continuously reflect the changing and evolving regulatory environment.
Development and regular enhancement of model documentation standards that is in line with regulatory standards
Managing governance controls around the entire model lifecycle from development, validation and implementation to retirement for both internal and vendor models
Monitoring and reporting of Key Risk Indicators based on model performance tracking, data quality and model usage
Work and coordinate with internal stakeholders the preparation of all model related materials to meet requirements for regulatory exams
Maintenance of model inventory with up-to-date documentation, usage details and status
Collaboration with Corporate Risk Management and Compliance teams on maintaining consistency in policies and standards across organizations
Skills
MINIMUM REQUIREMENTS
In depth understanding of regulatory requirements around Model Risk Management
Deep knowledge of statistical and data mining methods and best practices
Excellent communication, interpersonal and influencing skills
Extensive project management and leadership skills
Proven problem solving and decision making skills
Project management experience in a high-profile, tight-deadline driven environment
RELATIONSHIP
This individual will report to the VP, Enterprise Modeling and Analytic. He / She will collaborate with business partners that will include all modeling areas under Decision Management such as Acquisition & Portfolio Modeling, Collections & Recoveries Modeling and Fraud & Authorization Modeling as well as Corporate Risk Management, Compliance and Legal teams.
Educational Requirements
Bachelor in economics, mathematics, statistics and other quantitative fields. Advanced degree highly preferred
a minimum of eight years of financial or related industry experience in areas such as Modeling, Model Validation and Analytics
We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.
