Senior Principal Model Governance

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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.
Responsibilities:

• 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

#LI-RR
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.
Compensation:
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.
Benefits:
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 MyDiscoverBenefits.com.
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)