VP, Model Governance - Synchrony
Chicago, IL
About the Job
Job Description:
Role Summary/Purpose:
Reporting to the SVP, Model Risk, this role will manage the model risk management framework and overall model governance process and oversight for Synchrony Financial.
_Our Way of Working_
_We're proud to offer you choice and flexibility. At Synchrony, our way of working allows you to have the option to work from home, near one of our Hubs or come into one of our offices. Occasionally you may be required to commute to our nearest office for in person engagement activities such as business or team meetings, training and culture events._
Essential Responsibilities:
+ Management of the Model Risk Policy and Standards including the development and implementation of key control processes and supporting procedures
+ Partner with the validation center of excellence (COE) to systematically address the opportunities identified through the quality assurance program and model community's feedback to continuously improve validation rigor, value, speed, and model stakeholder experience. Provide strategic guidance and innovative directions to the, and lead the implementation of best practices and recommendations.
+ Maintenance and enhancement of the centralized Model Inventory and Attestation Process
+ Serve as Secretary of the Model Risk Oversight Sub-Committee and supporting Working Group, responsible for agendas, meeting minutes, charter maintenance, etc.
+ Key liaison to support other 2nd line of defense risk pillars activities such as Enterprise Risk Assessment, Risk and Control Self-Assessment, and Issue Management processes, etc, and strengthen strategic positioning by integrating insights and best practices across risk management functions.
+ Deliver comprehensive management reports on both individual and aggregate model risk. Identify thematical issues, and provide actionable insights and guidance to the 1st line to proactively manage and mitigate model risk.
+ Partner with the supplier risk management and source to pay team to manage and enhance the model vendor onboarding process, ensuring a seamless integration of vendor capabilities to support robust model development and deployment.
+ Facilitate regulatory examinations and internal audits of the modeling process and lead the model governance sessions to ensure compliance and foster continuous improvement in model risk management practices.
+ Keep pace with the latest developments in academia, regulatory environment, risk technology (vendor and in-house) and financial services to provide expert, practical advice to ensure the group stay relevant and current.
+ Perform other duties and/or special projects as assigned
Qualifications/Requirements:
+ An in-depth understanding of machine learning framework and risk management in a large banking institution framework
+ Owned or managed 2nd LOD policy and standard
+ Previous experience in hands-on credit modeling
+ Familiar with retail and or credit models used in the banking industry
+ Direct experience working with regulators as it relates to standards and policy interactions
+ 1+ years' experience managing people
+ Master's degree with emphasis in Statistics, Mathematics, Business, Economics, Finance or other quantitative field
+ 5+ years in model risk management or other risk governance in financial services, banking, or retail
+ In lieu of a Master's degree, a bachelor's degree (or foreign equivalent) in Statistics, Mathematics, Economics or related quantitative filed and 9+ years' experience in model risk management or other risk governance in financial services, banking, or retail
Desired Characteristics:
+ 6+ years in the financial services industry including both analytic/modeling/quantitative experience and governance / policy related roles.
+ Familiarity with consumer lending products and practices
+ Sharp focus on accuracy with extreme attention to detail.
+ Excellent Project Management Skills, as well as oral and written communication skills
+ Proficient in Microsoft applications, including Excel Macros
+ Strong knowledge of Regulatory requirements for Model Risk (e.g. SR 11-7/OCC 2011-12) with proven track record of delivering Regulatory requirements and other Regulatory requirements
+ Previous experience with Machine Learning / AI oversight or development
Grade/Level: 13
The salary range for this position is 130,000.00 - 210,000.00 USD Annual and is eligible for an annual bonus based on individual and company performance.
Actual compensation offered within the posted salary range will be based upon work experience, skill level or knowledge.
Salaries are adjusted according to market in CA, NY Metro and Seattle.
Eligibility Requirements:
+ You must be 18 years or older
+ You must have a high school diploma or equivalent
+ You must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process
+ You must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act.
+ New hires (Level 4-7) must have 9 months of continuous service with the company before they are eligible to post on other roles. Once this new hire time in position requirement is met, the associate will have a minimum 6 months' time in position before they can post for future non-exempt roles. Employees, level 8 or greater, must have at least 18 months' time in position before they can post. All internal employees must consistently meet performance expectations and have approval from your manager to post (or the approval of your manager and HR if you don't meet the time in position or performance expectations).
Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future, for this job opening. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Our Commitment:
When you join us, you'll be part of a diverse, inclusive culture where your skills, experience, and voice are not only heard-but valued. We celebrate the differences in all of us and believe that our individual, unique perspectives is what makes Synchrony truly a great place to work. Together, we're building a future where we can all belong, connect and turn ideals into action. Through the power of our 8 Diversity Networks+ (https://www.synchronycareers.com/our-culture/#diversity) , with more than 60% of our workforce engaged, you'll find community to connect with an opportunity to go beyond your passions.
This starts when you choose to apply for a role at Synchrony. We ensure all qualified applicants will receive consideration for employment without regard to age, race, color, religion, gender, sexual orientation, gender identity, national origin, disability, or veteran status.
Reasonable Accommodation Notice:
+ Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.
+ If you need special accommodations, please call our Career Support Line so that we can discuss your specific situation. We can be reached at 1-866-301-5627. Representatives are available from 8am - 5pm Monday to Friday, Central Standard Time
Job Family Group:
Risk Management
Role Summary/Purpose:
Reporting to the SVP, Model Risk, this role will manage the model risk management framework and overall model governance process and oversight for Synchrony Financial.
_Our Way of Working_
_We're proud to offer you choice and flexibility. At Synchrony, our way of working allows you to have the option to work from home, near one of our Hubs or come into one of our offices. Occasionally you may be required to commute to our nearest office for in person engagement activities such as business or team meetings, training and culture events._
Essential Responsibilities:
+ Management of the Model Risk Policy and Standards including the development and implementation of key control processes and supporting procedures
+ Partner with the validation center of excellence (COE) to systematically address the opportunities identified through the quality assurance program and model community's feedback to continuously improve validation rigor, value, speed, and model stakeholder experience. Provide strategic guidance and innovative directions to the, and lead the implementation of best practices and recommendations.
+ Maintenance and enhancement of the centralized Model Inventory and Attestation Process
+ Serve as Secretary of the Model Risk Oversight Sub-Committee and supporting Working Group, responsible for agendas, meeting minutes, charter maintenance, etc.
+ Key liaison to support other 2nd line of defense risk pillars activities such as Enterprise Risk Assessment, Risk and Control Self-Assessment, and Issue Management processes, etc, and strengthen strategic positioning by integrating insights and best practices across risk management functions.
+ Deliver comprehensive management reports on both individual and aggregate model risk. Identify thematical issues, and provide actionable insights and guidance to the 1st line to proactively manage and mitigate model risk.
+ Partner with the supplier risk management and source to pay team to manage and enhance the model vendor onboarding process, ensuring a seamless integration of vendor capabilities to support robust model development and deployment.
+ Facilitate regulatory examinations and internal audits of the modeling process and lead the model governance sessions to ensure compliance and foster continuous improvement in model risk management practices.
+ Keep pace with the latest developments in academia, regulatory environment, risk technology (vendor and in-house) and financial services to provide expert, practical advice to ensure the group stay relevant and current.
+ Perform other duties and/or special projects as assigned
Qualifications/Requirements:
+ An in-depth understanding of machine learning framework and risk management in a large banking institution framework
+ Owned or managed 2nd LOD policy and standard
+ Previous experience in hands-on credit modeling
+ Familiar with retail and or credit models used in the banking industry
+ Direct experience working with regulators as it relates to standards and policy interactions
+ 1+ years' experience managing people
+ Master's degree with emphasis in Statistics, Mathematics, Business, Economics, Finance or other quantitative field
+ 5+ years in model risk management or other risk governance in financial services, banking, or retail
+ In lieu of a Master's degree, a bachelor's degree (or foreign equivalent) in Statistics, Mathematics, Economics or related quantitative filed and 9+ years' experience in model risk management or other risk governance in financial services, banking, or retail
Desired Characteristics:
+ 6+ years in the financial services industry including both analytic/modeling/quantitative experience and governance / policy related roles.
+ Familiarity with consumer lending products and practices
+ Sharp focus on accuracy with extreme attention to detail.
+ Excellent Project Management Skills, as well as oral and written communication skills
+ Proficient in Microsoft applications, including Excel Macros
+ Strong knowledge of Regulatory requirements for Model Risk (e.g. SR 11-7/OCC 2011-12) with proven track record of delivering Regulatory requirements and other Regulatory requirements
+ Previous experience with Machine Learning / AI oversight or development
Grade/Level: 13
The salary range for this position is 130,000.00 - 210,000.00 USD Annual and is eligible for an annual bonus based on individual and company performance.
Actual compensation offered within the posted salary range will be based upon work experience, skill level or knowledge.
Salaries are adjusted according to market in CA, NY Metro and Seattle.
Eligibility Requirements:
+ You must be 18 years or older
+ You must have a high school diploma or equivalent
+ You must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process
+ You must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act.
+ New hires (Level 4-7) must have 9 months of continuous service with the company before they are eligible to post on other roles. Once this new hire time in position requirement is met, the associate will have a minimum 6 months' time in position before they can post for future non-exempt roles. Employees, level 8 or greater, must have at least 18 months' time in position before they can post. All internal employees must consistently meet performance expectations and have approval from your manager to post (or the approval of your manager and HR if you don't meet the time in position or performance expectations).
Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future, for this job opening. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Our Commitment:
When you join us, you'll be part of a diverse, inclusive culture where your skills, experience, and voice are not only heard-but valued. We celebrate the differences in all of us and believe that our individual, unique perspectives is what makes Synchrony truly a great place to work. Together, we're building a future where we can all belong, connect and turn ideals into action. Through the power of our 8 Diversity Networks+ (https://www.synchronycareers.com/our-culture/#diversity) , with more than 60% of our workforce engaged, you'll find community to connect with an opportunity to go beyond your passions.
This starts when you choose to apply for a role at Synchrony. We ensure all qualified applicants will receive consideration for employment without regard to age, race, color, religion, gender, sexual orientation, gender identity, national origin, disability, or veteran status.
Reasonable Accommodation Notice:
+ Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.
+ If you need special accommodations, please call our Career Support Line so that we can discuss your specific situation. We can be reached at 1-866-301-5627. Representatives are available from 8am - 5pm Monday to Friday, Central Standard Time
Job Family Group:
Risk Management
Source : Synchrony