AVP, Model Risk Management (L10)

3-4 years
2 months ago
Job Description

Role Title: AVP, Model Risk Management (L10)

Company Overview:

COMPANY OVERVIEW: Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoors, pet and more.

  • We have recently been ranked #5 among India's Best Companies to Work for 2023, #21 under LinkedIn Top Companies in India list, and received Top 25 BFSI recognition from Great Place To Work India. We have been ranked Top 5 among India's Best Workplaces in Diversity, Equity, and Inclusion, and Top 10 among India's Best Workplaces for Women in 2022.

  • We offer 100% Work from Home flexibility for all our Functional employees and provide some of the best-in-class Employee Benefits and Programs catering to work-life balance and overall well-being. In addition to this, we also have Regional Engagement Hubs across India and a co-working space in Bangalore.

Organizational Overview:

Synchrony's Risk Team is a dynamic and innovative team dedicated to provide oversight as 2nd Line of Defense. As a member of this Team, you'll play a pivotal role for high quality model validation and to ensure modeling techniques and results are consistent with the respective strategic uses, models performing as intended, and complying with related MRM policies, standards, procedures as well as regulations. This role requires high level of expertise with minimal technical supervision to serve as project lead as well as being accountable for validation results on a wide range of model categories. If you are passionate about Model validation and Modelling techniques then Synchrony's Risk team is the place to be.

Role Summary/Purpose:

The AVP, Model Validation is responsible for high quality model validation, documentation and to ensure modeling techniques and results are consistent with the respective strategic uses, models performing as intended, and complying with related MRM policies, standards, procedures as well as regulations. This role requires high level of expertise with minimal technical supervision to effectively contribute to projects.

Key Responsibilities:

.Assess the appropriate and optimal use of models such as credit, fraud, collections, marketing, treasury, loss forecasting, capital planning, stress testing, compliance etc.

.Serve as a lead analyst performing model validation, proper documentation and manage end to end reviews independently with minimal supervision.

.Lead/Perform the review and maintenance of relevant model and validation documentation, able to perform in depth analysis and processing of large data sets.

.Ensure to prepare proper documentation within expected timeframes for effectively highlighting the findings for further review/investigation and facilitate informed discussions on key analytics.

.Effectively challenge on the advanced quantitative assessments of all aspects of models including theoretical aspects, model design and implementation, data integrity and reliability.

.Communicate technical information verbally and in writing to both technical and business team effectively.

.Work closely within the Risk organization to validate accuracy and performance of all models, whether statistical/AI/ML or non-statistical to identify any issues requiring further investigation, and resolve problems independently.

.Liaise with the Synchrony Financial business teams to uncover and highlight risk associated with models.

.Keep pace with the latest model developments in academia, regulatory environment, risk technology (vendor and in-house) and financial services industries in order to provide expert guidance to the Synchrony Financial functions.

.Support regulatory examinations and internal audits of the modeling process and selected models samples.

.Continuously drive better model risk management practices and add value to the business through more efficiency, stronger controls, better process, and strong partnership with model stakeholders.

.Support in additional book of work or special projects as and when required.

Required Skills/Knowledge

.Master's degree (or foreign equivalent) in Statistics, Mathematics, Economics or related quantitative field

. 4+ years hands-on experience with one or more statistical tools including Python, R, SAS, and SQL, SPARK, and Data Lake.

.4+ years of statistical analysis and the handling large amounts of data and analyzing for trends.

.3+ years experience with the application of US regulatory requirements for Model Risk Management.

.Excellent written and oral communication and presentation skills.

Desired Skills/Knowledge:

.Strong knowledge of Regulatory requirements for Model Risk Management with proven track records of delivering Regulatory requirements.

.4+ years in Model Risk Management in modeling and validation in the financial services industry including both analytic/modeling/quantitative experience and governance or other credit/financial discipline.

.Experience in project management, including demonstrated ability to develop actionable plan to meet high level objectives, strong execution, and timeline sensitive deliverables.

.Sharp focus on accuracy with extreme attention to detail.

.Knowledge of Credit Card/Consumer Finance products and business model.

.Experience with Machine Learning / AI methodologies and related applications.

Eligibility Criteria:

Bachelor's degree in Statistics, Mathematics, Economics or related quantitative field with 4+ years of experience in financial industry or In lieu of a degree, with 6+ years of in Statistics, Mathematics, Economics or related quantitative field.

Work Timings:

This role qualifies for Enhanced Flexibility and Choice offered in Synchrony India and will require the incumbent to be available between 06:00 AM Eastern Time - 11:30 AM Eastern Time (timings are anchored to US Eastern hours and will adjust twice a year locally). This window is for meetings with India and US teams. The remaining hours will be flexible for the employee to choose. Exceptions may apply periodically due to business needs.

For Internal Applicants:

  • Understand the criteria or mandatory skills required for the role, before applying

  • Inform your manager and HRM before applying for any role on Workday

  • Ensure that your professional profile is updated (fields such as education, prior experience, other skills) and it is mandatory to upload your updated resume (Word or PDF format)

  • Must not be any corrective action plan (First Formal/Final Formal, PIP)

  • L8+ Employees who have completed 18 months in the organization and 12 months in current role and level are only eligible.

  • L08+ Employees can apply

Risk Management

Synchrony Financial is a consumer financial services company headquartered in Stamford, Connecticut, United States.The company offers consumer financing products, including credit, promotional financing and loyalty programs, installment lending to industries, and FDIC-insured consumer savings products through Synchrony Bank, its wholly owned online bank subsidiary.

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