Model Validation Manager – Mortgage, Retail Credit Loss

Role Overview

• Lead and develop a high‑performing analytics team responsible for independent validation of the Bank’s residential mortgage and retail portfolio credit loss forecasting models supporting CCAR stress testing and CECL requirements.
• Oversee end‑to‑end model validation activities, including pre‑implementation validations, periodic reviews, and ongoing monitoring, providing effective challenge to model design, methodology, data, processes, and performance.
• Ensure rigorous execution of validation analyses and drive continuous enhancement of validation standards and processes.
• Review and approve validation deliverables to ensure conclusions are well‑supported, clearly documented, and communicated effectively to stakeholders with varying levels of technical expertise.
• Identify model risks and findings, drive corrective actions, and ensure timely remediation in alignment with Model Risk Management program requirements.
• Manage validation execution against plan, including resource allocation, coaching, prioritization, and quality control across the validation portfolio.
• Engage and partner with business stakeholders throughout validation and remediation efforts, fostering strong relationships while maintaining independent and credible challenge.
• Manage internal audits and regulatory examinations, serving as a key point of contact for regulators, auditors, and senior stakeholders to clearly articulate validation analyses, findings, and conclusions, and effectively address supervisory feedback.

Requirements

• Bachelor’s degree (MA/MS/PhD strongly preferred) and nine or more years of relevant experience
• Five or more years of experience leading a quantitative modeling team
• Extensive knowledge of various regression techniques, parametric and non-parametric algorithms, times series techniques, and other statistical models, various model validation tests/methodologies, using SAS or similar statistical package
• Advanced data compilation, programming skills and qualitative analysis skills
• Thorough knowledge of the quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches
• Thorough knowledge of applicable regulatory rules, guidance, or supervisory letters
• In depth knowledge of Bank products and services
• Demonstrated independence, teamwork and leadership skills

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law