Discover. A brighter future.
With us, you’ll do meaningful work from Day 1. Our collaborative 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
TITLE: Principal Model Validation
DUTIES: DFS Corporate Services LLC seeks Principal Model Validation in Riverwoods, IL to manage 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, treasure, interest rate, acquisition scorecards, ML/AI models, AML models, and operational risk models. Interpret model validation test results and establish required action plans with model owners and developers and provide value-added recommendations to model owners and developers. Maintain current and develop new analytical reports and presentations for senior management, executive committees and regulatory exams. Manage the workflow of a team of offshore model validators. Actively participate in production, maintenance, and compliance with model validation policies, standards, and procedures. Proactively identify emerging model risk issues impacting the Company and communicate to model developers, senior management, and the DFS Model Governance Committee. Maintain standardized model validation documentation, and keep up to date with regulations, regulatory exam requirements, and regulatory guidance. Interact with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model validation process. Promote a risk-aware culture to ensure efficient and effective risk and compliance management practices by adhering to required standards and processes.
REQUIREMENTS: Master’s degree or foreign equivalent in Computational Finance, Risk Management, Economics, Statistics, or a related quantitative field and four (4) years of experience in job offered or related position: utilizing analytical tools, including SAS, SQL, R, Teradata, Unix, and Excel; and utilizing technologies, including Git and Docker. One (1) year of experience must include writing and presenting model development or validation reports; and performing validations of statistical models in areas, including portfolio risk management, credit risk, and loss forecasting.
QUALIFIED APPLICANTS: Please apply directly through our website by clicking on “Apply Now.” No calls. Equal Opportunity Employer/disability/vet.
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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.