AVP, Model Risk Management (L10)

Job Description:

Role Title: AVP, Model Risk Management (L10)

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 #2 among India’s Best Companies to Work for by Great Place to Work. We were among the Top 50 India’s Best Workplaces in Building a Culture of Innovation by All by GPTW and Top 25 among Best Workplaces in BFSI by GPTW. We have also been recognized by AmbitionBox Employee Choice Awards among the Top 20 Mid-Sized Companies, ranked #3 among Top Rated Companies for Women, and Top-Rated Financial Services Companies.

• Synchrony celebrates ~51% women diversity, 105+ people with disabilities, and ~50 veterans and veteran family members.

• We offer Flexibility and Choice for all employees and provide best-in-class employee benefits and programs that cater to work-life integration and overall well-being. 

• We provide career advancement and upskilling opportunities, focusing on Advancing Diverse Talent to take up leadership roles

Organizational Overview:

Synchrony's Risk Team provides independent oversight of Synchrony’s risk-taking activities to ensure safety and soundness, meet regulatory and legal requirements, and manage risks to the risk-appetite of the Board. Risk is responsible for independently assessing, quantifying, and overseeing risks & providing effective challenge. Risk serves as Synchrony’s Second Line of Defense.   

Overall, Risk Team oversees and manages the Risk Program to support the business in anticipating and addressing risks, issues and challenges. Results are consistent with the respective strategic uses and complying with related overall risk, risk testing policies, standards, procedures as well as regulations. Our Risk organization consists of 4 pillars: Compliance, Credit & Financial Risk, Enterprise Risk and Operational Risk. Each of the pillars play a vital role in managing Risk and supports the business in anticipating and addressing risks, issues, and challenges.
 

Role Summary/Purpose:

The AVP, Model Validation is responsible for model validation focusing on loss/reserve /recovery forecast  and other models and ensure they are meeting the related Model Risk Management policies, standards, procedures as well as regulations (SR 11-7). This role requires sufficient expertise to serve as project lead as well as being accountable for validation results on a wide range of model categories under adequate technical supervision. This is an individual contributor role

Key Responsibilities:

• Serve as a key contributor  to perform full scope end-to-end model review, annual review, ongoing monitoring model performance etc. for both internally and vendor-developed models, including new and existing, statistical/machine learning or non-statistical models, particularly in the area of loss forecast, with effective challenges to identify potentials issues requiring further investigation, and resolve problems.

• Lead and supervise the full scope validation and other reviews, be held full accountability on the validation quality, and drive the timeline and completion of the projects with minimal guidance from the review manager/supervisors

• Provide supportive coaching and guidance to junior team members by offering mentorship, training, and constructive performance . Facilitate continuous improvement by addressing challenges and fostering a supportive team environment.

• Perform in-depth analyses on model methodologies, assumptions, and performance trends based on large datasets and identify key model risk, limitations and issues for in-house developed models as well as third-party models with proprietary nature.

• Keep pace with the latest model developments and validation practice in academic , regulatory environment and financial services industries to provide technical consultation and process improvement to MRM

• Provide support during regulatory examinations and internal audits of the model validation process by preparing necessary documentation, addressing inquiries and assisting in remediation of observations, etc.

• Collaborate and engage with various Synchrony functional teams to uncover, highlight, and identify model risk associated with models. Keep maintenance of relevant model and model validation documentation, perform in depth analysis and reports to support discussions on key analytics and model risks.

• Support model governance initiatives and perform other duties and/or special projects as assigned.

Required Skills/Knowledge:

• Bachelor’s/Master's degree in Statistics, Mathematics or Data Science with 4+ years' experience in model development or model validation experience in the retail section of a U.S. financial service/banking, or in lieu of a degree, 6+ years’ experience in model development / model validation experience in the retail section of a U.S. financial service/banking.

• Strong understanding and application of quantitative analysis methods  or approaches in relation to credit loss /reserve/recovery models, CECL, etc.

• Minimum 4 years’ experience with the application of US regulatory requirements for Model Risk Management.

• Strong programing skills with 4+ years’ hands-on and proven experience utilizing Python, Spark , SAS, SQL, AWS, Data Lake to perform statistical analysis and manage complex or large amounts of data.

• Knowledge of regulatory requirements for Model Risk Management (SR 11-7, OCC 2011-12), CCAR, etc.

Desired Skills/Knowledge:

• Advanced knowledge of Regulatory requirements for Model Risk Management (SR 11-7, OCC 2011-12, etc), CCAR, etc.

• Solid knowledge and experience of credit loss models such as Loss forecasting (PD/LGD/EAD. CECL, Roll rate, vintage, etc), Stress testing, Allowance

• Ensure effective and seamless collaboration, real-time communication, and alignment with U.S business hours if needed.

• Solid knowledge in machine learning model

• 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.

• Excellent written and oral communication and presentation skills.

Eligibility Criteria:

Bachelor’s/Master's degree in Statistics, Mathematics or Data Science with 4+ years' experience in model development or model validation experience in the retail section of a U.S. financial service/banking, or in lieu of a degree, 6+ years’ experience in model development / model validation experience in the retail section of a U.S. financial service/banking.

Work timings: 3 PM – 12 AM IST

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

Grade/Level: 10

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