Manager, Model Risk Management (Predictive Modeling)

Location: VA Vienna - Headquarters Full/Part Time: Full-Time Regular/Temporary: Regular

Job Description

Employee Perks

Why You Will Love Being Part of the Navy Federal Team:

*Competitive compensation with opportunities for annual raises, promotions, and bonus potential
*Best-in-Class Benefits! (7% 401k match / Pension plan / Tuition reimbursement / Great insurance options)
*On-site amenities include fitness center, wellness center, cafeteria, etc. at Pensacola, FL; Vienna, VA and Winchester, VA campuses
*Consistently Awarded Top Workplace
*Nationally recognized training department by TRAINING Magazine
*An employee-focused, diverse, and service-oriented workplace environment

Basic Purpose

To lead and develop the enterprise level Model Risk Management (MRM) program. Collaborate with NFCU business units to manage model risks, recommend solutions, and ensure sound model governance practices. Provide thought leadership to build the MRM program through governance and model assessment best practices. Serve as a subject matter expert regarding model development and model risk management for business use cases across the full enterprise. Manage the daily activities of technical modeling staff. Support executive management in evaluating enterprise model risk and in developing strategies to mitigate and control model risk in support of business initiatives and compliance objectives

Responsibilities:

• Develop and maintain a model monitoring program and outcomes analysis framework to assess and actively track model risk
• Assess model risk at the enterprise and individual model level
• Collaborate with business units to ensure effective model documentation is provided, model controls and best practices are in place, and adequate information is provided to MRM to assess 3rd party and internal model risks
• Oversee the development of challenger models and model critical analyses on high risk models from every business unit
• Present assessments of risk to senior management within business units, enterprise risk management, and the front office
• Coordinate and guide staff as necessary to conduct comprehensive analysis within defined timelines
• Ensure quality and accuracy of model assessments and that recommendations align with business expectations and needs
• Advise business units on remediation to prevent negative model impacts to Navy Federal’s financials, reputation, and strategic plans
• Provide and maintain deep and up-to-date knowledge of relevant industry standards, best practices, and business processes and technology used in model risk management and model development within the financial services industry
• Influence adoption of modeling advancements to deliver business value
• Represent MRM on teams and task groups for projects/initiatives across the organization and act as a source of effective challenge
• Roadmap and lead the execution of maturing the MRM program:
o Define the steps for incremental improvement
o Scope MRM framework based on consideration of regulatory requirements, board policy and business unit needs
o Lead design of ensuing MRM work products and processes
• Manage relationships to ensure effective collaboration with all business units, risk management and compliance groups, procurement, 3rd party representatives, and all other relevant stakeholders
• Perform outreach activities to new business areas engaged in modeling
• Perform supervisory/managerial responsibilities
o Ensure adequate/skilled staffing; select employees
o Establish performance goals and priorities
o Prepare, conduct and review performance appraisals
o Develop, mentor and counsel staff
o Create and maintain a collaborative, engaged, productive, and positive culture within the team
o Provide input and/or prepare budget requirements for Annual Financial Plan
o Ensure program goals align with leadership priorities and strategy
o Ensure efficiency of operations
o Ensure accuracy, quality, and consistency of work products
• Perform other duties as assigned

Qualifications and Education Requirements:

• Bachelor’s degree in a Computer Science, Statistics or related field, or the equivalent combination of training, education and experience
• Experience working in a 2nd line of defense MRM governance role
• Advanced knowledge of every aspect of the full life cycle of predictive model development and management (CRISP-DM experience)
• Extensive experience with predictive models in a large variety of business use cases (marketing, forecasting, fraud detection, lending, customer churn, staffing, etc.)
• Experience with all or most of the following modeling types to solve business problems: classification, regression, time series, clustering, text analytics, survival, association, optimization, reinforcement learning
• Advanced expertise with statistical software (e.g., R, Python, SPSS Modeler, and/or SAS) to manage large data sets and develop predictive models
• Ability to interpret analytics and statistical results for presentation to a variety of audiences including executive leadership
• Experience working in or consulting for financial institutions in a modeling or analytical context
• Expert thought-leadership, initiative-taking, decision-making and creatively solving business problems
• Extensive experience defining the requirements, creating the roadmap, and executing the day-to-day to build and maturation of a new program
• Extensive experience managing multiple priorities independently and/or in a team environment to achieve goals
• Extensive experience managing relationships with client companies or with other internal groups
• Advanced skill building effective relationships through rapport, trust, diplomacy, and tact
• Advanced skill to influence, negotiate, persuade, and build consensus to reach agreeable exchange & positive outcomes with business partners
• Extensive experience in working with all levels of staff, management, stakeholders, vendors
• Experience leading analytics/modeling staff

Desired Qualifications and Education Requirements:

• Master’s or advanced degree in Data Science, Statistics or related field
• Experience with automated risk modeling systems and software
• Experience with credit union financials and/or NCUA regulations

Hours:
Monday-Friday, 8:00 AM-4:30 PM

Equal Employment Opportunity

Navy Federal values, celebrates, and enacts diversity in the workplace.  Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans.  EOE/AA/M/F/Veteran/Disability


Disclaimer

Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need.


Bank Secrecy Act

Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.