Model Validator Lead - Model Risk Audit
Company: USAA
Location: San Antonio
Posted on: May 18, 2024
Job Description:
Why USAA?Let's do something that really matters.
At USAA, we have an important mission: facilitating the financial
security of millions of U.S. military members and their families.
Not all of our employees served in our nation's military, but we
all share in the mission to give back to those who did. We're
working as one to build a great experience and make a real impact
for our members.
We believe in our core values of honesty, integrity, loyalty and
service. They're what guides everything we do - from how we treat
our members to how we treat each other. Come be a part of what
makes us so special!The OpportunityAs a dedicated Model Validator
you'll execute 3rd Line of Defense Model Risk Audit Oversight for
the life-cycle management of models for high risk and highly
complex models. Executes the model audit review process compliant
with the written risk and compliance policies and procedures which
require independence.We offer a flexible work environment that
requires an individual to be in the office 4 days per week. This
position can be based in one of the following locations: San
Antonio, TX; Plano, TX; Tampa, FL or Charlotte, NC. Relocation
assistance is available for this position.What you'll do:
- Oversees and conducts independent third line of defense model
risk audit activities for high visibility, critical and/or
specialized models. Utilizes expert business and technical model
and model risk knowledge to conduct highly specialized model review
activities for models that leverage cutting edge techniques that
require specialized credentials, and models that have higher
enterprise visibility and risk.
- Leverages specialized technical approaches to develop,
implement, and execute model testing plans for models that require
expert model risk knowledge and skills.
- Develops plans, reviews peers' plans and provides feedback on
model tests and data quality assessments for models using various
types of datasets including those leveraging large datasets and
unstructured datasets.
- Reviews at a subject matter expert level the end-to-end
life-cycle management of model development, implementation, ongoing
monitoring, and use in areas of Banking and Insurance (Property &
Casualty and Life) along with their corresponding business support
functions and operational processes.
- Responsible for assessing model governance processes including
model inherent risk ratings, model declassifications applications,
materiality of model changes, and other reviews of model
validations as part of model -related governance audit.
- Produces and delivers model workpapers and related model review
documentation to model risk audit management, model stakeholders,
senior leadership, and others for high visibility, critical and/or
specialized models. Provides review of audit work produced by peers
in preparation of workpaper issuance.
- Reports model review results and model risk trends/metrics to
Audit leadership.
- Executes the independent model audit process compliant with the
written risk and compliance policies and procedures at a subject
matter expert level. Evaluates - model development, implementation,
and use as it pertains to elements of model conceptual soundness,
model assumptions, modeling methodology, model limitations, data
quality, ongoing monitoring, and other more complex elements of the
model -development - process.
- Interacts with internal and external peers including model
developers and validators for awareness and applicability of
cutting-edge techniques, technologies, and potential business
solutions while continuing to professionally develop and knowledge
share emerging modeling techniques and approaches.What you have:
- Bachelor's degree in a quantitative field, such as Economics,
Mathematics, Statistics, Actuarial Science, Data Science,
Engineering, Computer Science, or a Related Field with Core
Quantitative Curriculum. Four additional years of related
experience beyond the minimum required may be substituted in lieu
of a degree.
- 8 years of related work experience in model validation, model
development, model audit, statistical analysis, advanced
quantitative research and/or within a model audit function OR
- Advanced degree (e.g., Master's, PhD) in a quantitative field,
such as Economics, Mathematics, Statistics, Actuarial Science, Data
Science, Engineering, Computer Science, or Related Field with Core
Quantitative Curriculum and 6 years of related work experience in
model validation, model development, statistical analysis, and/or
advanced quantitative research.
- Strong experience communicating complex quantitative/technical
concepts and conclusions to senior leadership, auditors, and/or
regulators.
- Strong understanding or proficiency in programming languages
for the iterative methodological tenants of model and algorithm
development including setting model specifications, assumption
testing, data quality assessments, variable selection,
back-testing, benchmarking, and other robust model testing. -
Subject Matter Depth and Breadth with some of the following
statistical, econometric, data science, and predictive modeling
approaches: Unsupervised Learning; K-Means; Linear Regression;
Time-Series/Forecasting; Stress Testing; Logistic Regression;
Gaussian Process; Simulation Models; Boosting/Bagging Trees; Neural
Networks; Deep Learning Concepts; Bayesian Estimators.
- Strong business context knowledge in operational and support
functions of Banking and/or Insurance as well as associated
modeling and analytics knowledge.
- Business and industry acumen in modeling governance techniques
and approaches.
- Experience sharing modeling governance technical expertise and
guidance with peers.What sets you apart:
- Advanced Degree with 8+ years of experience in Model
Development & implementation, Model Validation or Model Audit
space.
- Deep knowledge and experience with - SR 11-7 and/or - ASOP
56
- Experience in monitoring and tracking emerging trends and best
practices in model risk management, and assessing their impact on a
portfolio of models or thematically across model risk.
- Demonstrated experience preparing effective documentation and
presenting to various levels of management.The above description
reflects the details considered necessary to describe the principal
functions of the job and should not be construed as a detailed
description of all the work requirements that may be performed in
the job.What we offer:Compensation: USAA has an effective process
for assessing market data and establishing ranges to ensure we
remain competitive. You are paid within the salary range based on
your experience and market data of the position. The actual salary
for this role may vary by location. The salary range for this
position is: $158,960 - $303,830. Employees may be eligible for pay
incentives based on overall corporate and individual performance
and at the discretion of the USAA Board of Directors.Benefits: At
USAA our employees enjoy best-in-class benefits to support their
physical, financial, and emotional wellness. These benefits include
comprehensive medical, dental and vision plans, 401(k), pension,
life insurance, parental benefits, adoption assistance, paid time
off program with paid holidays plus 16 paid volunteer hours, and
various wellness programs. Additionally, our career path planning
and continuing education assists employees with their professional
goals.For more details on our outstanding benefits, please visit
our benefits page on USAAjobs.com.Applications for this position
are accepted on an ongoing basis, this posting will remain open
until the position is filled. Thus, interested candidates are
encouraged to apply the same day they view this posting. -USAA is
an Equal Opportunity Employer. All qualified applicants will
receive consideration for employment without regard to race, color,
religion, sex, sexual orientation, gender identity, national
origin, disability, or status as a protected veteran.
Keywords: USAA, San Antonio , Model Validator Lead - Model Risk Audit, Accounting, Auditing , San Antonio, Texas
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