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Senior Principal Model Governance

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Employer Provided Salary: $103,000-$174,200 Annually
Salary data is provided by the employer. Please note this is not a guarantee of compensation.

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:
Provides Tactical direction for setting up the policy, procedures, and standards for all aspect of managing model risk. Partners closely with model validation team leaders as well as leaders of various model development and model usage teams to manage complex enterprise model governance frameworks, policies, and procedures. Assists the model risk governance Director in his/her responsibilities. Actively manages and escalates risk and customer-impacting issues within the day-to-day role to management.

  • Provides tactical support in implementing/operationalizing new/emerging guidance impacting model risk e.g. Artificial Intelligence and Generative AI etc.
  • Enforces standard policies and procedures related to tiering of findings, model usage, and tracking and process controls associated with the modeling process. Develops, maintains and monitor model Key Risk Indicators, assesses aggregate model risk and periodically reports risk to Model Risk Committee and ensures emerging risk are addressed.
  • Leads and maintains model risk management infrastructure, including model inventory, model performance KRIs, model risk events etc. Leads the efforts in standardization, automation, workflow management. Contributes to enhancing current process for model and usage validation. Manages Committee operations and committee reporting.
  • Interacts with the external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model governance policy. Also, interfaces with business partners in Finance, Treasury, IT, Credit Risk, Marketing for Card, Consumer Lending, Network, and Banking Businesses.
  • Produce BAU and Ad-hoc reports to internal stakeholders, committees, audit and regulatory agencies.
  • Establishes and maintains model development, validation, implementation, performance monitoring, usage, retirement standards, guidelines, and procedures. Manages training on Policies, Procedures, Standards, Guidelines and Systems.
  • Manages development/enhancement of model inventory management infrastructure while acting as an initiative owner. Leads development of reporting and maintains quality assurance framework.
  • Leads and maintains status updates and facilitates resolution/escalations of issues in a timely fashion. Creates periodic analytical and updates presentations and reports for senior management, executive management, risk committees and for regulatory exams.
  • Maintains model validation, usage, and other risk assessment documentation. Performs Project management related to model development pipeline. Acts as a product owner and supports development and enhancement of Inventory Systems infrastructure. Sets up the framework for reporting including quality control processes and metrics.
  • Interacts with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of model validation processes.
  • Analyzes complex quantitative models and the risks and controls around their usage.

Minimum Qualifications
At a minimum, here's what we need from you:

  • Bachelor's degree in Economics, Statistics, Business, Mathematics or Engineering
  • 6 + years of experience Model Risk Management, Model Governance, Model Validation, Compliance or Related
  • In Lieu of education 10 + years of experience building, testing, implementing, validating econometric and statistical models, or related experience including people management.

Preferred Qualifications
If we had our say, we'd also look for:

  • Master's degree in economics, Statistics, Business, Finance Mathematics, Analytics or Engineering
  • 8 + years of experience in Model Risk Management, Model Governance, Model Validation, Compliance or Related
  • 2 + years of experience in Building, testing, implementing, validating econometric and statistical models, or related.
  • SAS, SQL Tableau
  • PMP, FRM

Application Deadline:
The application window for this position is anticipated to close on Feb-11-2024. We encourage you to apply as soon as possible. The posting may be available past this date, but it is not guaranteed.
The base pay for this position generally ranges between $103,000.00 to $174,200.00. Additional incentives may be provided as part of a market competitive total compensation package. Factors, such as but not limited to, geographical location, relevant experience, education, and skill level may impact the pay for this position.
We also offer a range of benefits and programs based on eligibility. These benefits include:

  • Paid Parental Leave
  • Paid Time Off
  • 401(k) Plan
  • Medical, Dental, Vision, & Health Savings Account
  • STD, Life, LTD and AD&D
  • Recognition Program
  • Education Assistance
  • Commuter Benefits
  • Family Support Programs
  • Employee Stock Purchase Plan

Learn more at .
What are you waiting for? Apply today!
All Discover employees place our customers at the very center of our work. To deliver on our promises to our customers, each of us contribute every day to a culture that values compliance and risk management.
Discover is committed to a diverse and inclusive workplace. Discover is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status, or other legally protected status. (Know Your Rights)

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What are Discover Perks + Benefits

Discover Benefits Overview

Start enjoying great benefits Day 1 — We support you with the same dedication we bring to all of our customers. Our comprehensive benefits package features first-class insurance, financial planning support and excellent perks designed to help you reach your goals and live a rich, healthy life.

Check out more of our amazing employee benefits at

Volunteer in local community
Discover’s business is built on helping people, and we invest in the community (Blessing Backpacks, Boys & Girls Clubs, Big Brothers/Sisters) to demonstrate our commitment to a brighter future.
Partners with nonprofits
Open door policy
OKR operational model
Team based strategic planning
Open office floor plan
Flexible work schedule
Remote work program
Dedicated diversity and inclusion staff
Mandated unconscious bias training
Diversity manifesto
Diversity employee resource groups
Hiring practices that promote diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
You can open a separate Health Care FSA (HCFSA) and contribute up to $2,650 tax-free from your paycheck to reimburse yourself for eligible out-of-pocket expenses.
Disability insurance
Employees receive Short-Term Disability Insurance at no cost.
Dental insurance
Discover offers two dental plan options — Standard and Premier — both are administered by MetLife.
Vision insurance
Discover offers two vision plan options — Standard and Premier through VSP.
Health insurance
Discover offers a variety of medical plans for you and eligible family members, so that you can choose the benefit plan that suits your needs.
Life insurance
As a Discover employee, you receive Basic Life Insurance of one times your HWEE (up to $500,000) at no cost to you.
Pet insurance
Purchase medical coverage at a discounted rate for your beloved family pet. The more pets you insure, the greater the discount.
Wellness programs
Help balance your work and personal life with a wide variety of free and discounted resource and referral services including family and relationship counseling and financial guidance.
Mental health benefits
Financial & Retirement
You may elect to contribute 1% to 30% of your eligible base salary, commissions and bonus on a pre-tax basis, up to IRS limits every year.
401(K) matching
Discover matches up to 6% of the pre-tax contributions you make to the 401(k) Plan.
Employee stock purchase plan
The ESPP provides eligible employees with an opportunity to purchase shares of Discover common stock through payroll deductions at a 5% discount.
Performance bonus
Charitable contribution matching
Child Care & Parental Leave Benefits
Childcare benefits
Generous parental leave
Family medical leave
Adoption Assistance
Discover helps eligible employees and their families with the costs of adoption by reimbursing certain expenses.
Company sponsored family events
Vacation & Time Off Benefits
Generous PTO
Discover has a Paid Time Off of 4 to 5 Weeks of paid time per year.
Paid volunteer time
Paid holidays
Discover provides 7 paid holidays.
Paid sick days
Office Perks
Commuter benefits
When you enroll in the Commuter Benefits Program at WageWorks, you’ll save on taxes on mass-transit passes, parking and other eligible expenses.
Company-sponsored outings
Onsite office parking
Recreational clubs
Relocation assistance
Fitness stipend
Onsite gym
Discover has fitness centers and Weight Watchers® programs at all five major locations.
Professional Development Benefits
Job training & conferences
Tuition reimbursement
Discover provides tuition reimbursement and a full-ride bachelor's degree program for select online degree programs.
Lunch and learns
Promote from within
Mentorship program
Continuing education stipend
Continuing education available during work hours
Online course subscriptions available
Customized development tracks

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