Vice President, Model Risk Management

  • Full-time
  • Job Family Group: Risk

Company Description

Common Purpose, Uncommon Opportunity. Everyone at Visa works with one goal in mind – making sure that Visa is the best way to pay and be paid, for everyone everywhere. This is our global vision and the common purpose that unites the entire Visa team. As a global payments technology company, tech is at the heart of what we do: Our VisaNet network processes over 13,000 transactions per second for people and businesses around the world, enabling them to use digital currency instead of cash and checks. We are also global advocates for financial inclusion, working with partners around the world to help those who lack access to financial services join the global economy. Visa’s sponsorships, including the Olympics and FIFA™ World Cup, celebrate teamwork, diversity, and excellence throughout the world. If you have a passion to make a difference in the lives of people around the world, Visa offers an uncommon opportunity to build a strong, thriving career. Visa is fueled by our team of talented employees who continuously raise the bar on delivering the convenience and security of digital currency to people all over the world. Join our team and find out how Visa is everywhere you want to be.

Job Description

Part of Enterprise Risk Management (ERM), the Model Risk Management (MRM) team has a mandate to identify, risk assess & validate business-impactful Models across Visa to mitigate model risk, the risk that occurs when a model fails to perform as intended. The VP Model Risk Management, will provide independent oversight and effective challenge for all Visa models.  In particular, the MRM team is responsible for independently validating the conceptual and implementation soundness of internally and externally developed models, as well monitoring compliance with model governance (performance monitoring, sensitivity analysis, and processes and data controls).

This role will be located in Foster City or San Francisco

Candidate will also be responsible for:

  • Identifying, assessing, validating and managing models used across Visa to mitigate Model Risk, which occurs when a model fails to perform as intended
  • Reviewing analytics and soundness of models and providing effective challenge as the 2nd line of defense over quantitative models developed internally and externally, covering: justification of model construct, model assumptions, testing, weaknesses and limitations, implementation, model design, model controls, input data verification, model performance monitoring and documentation
  • Challenging model assumptions, verification of mathematical formulation, implementation of similar or alternative models & identification of modeling limitations with suggested mitigating controls, assessment of inherent model risk
  • Ensuring complete documentation of model validation reports to ensure compliance with model risk related regulations
  • Maintaining Enterprise level model inventory, including all sub models (ie. feeder models) and developing an ongoing model monitoring system
  • Model risk management governance, including periodic reviews, management of model inventory, model change management, model classification and rating, and timely resolution of validation, audit and regulatory findings
  • Review, verify and validate models for theoretical soundness, testing design and identification of model weaknesses, ensure ongoing monitoring
  • Non-model risk management governance, including non-model inventory, non-model change management, and risk-based non-model approvals
  • Providing justification/reasoning behind validation findings and address concerns from regulators and internal audit
  • Conduct independent research related to best practices in model development and design, as well as efficient data management and warehousing
  • Meet business needs and regulatory expectations and investigate key aspects of each model under review, such as choice of modelling approach, the underlying assumptions and associated limitations, performance and optimal use of the model

Qualifications

The Successful candidate must have:

  • Bachelor’s degree in a quantitative discipline, such as Mathematics, Physics, Statistics, Finance or related field, Advanced degree (Ph.D.) strongly preferred
  • 15+ years of experience in quantitative modeling or model validation in established financial institutions
  • Deep & broad experience in risk models, plus experience managing/leading teams within the model development, validation, testing and/or financial modeling area
  • Understanding and knowledge of model risk related regulations including SR 11-17 and SR 15-18
  • Excellent interpersonal, presentation, and communication skills, with ability to communicate complex & technical concepts to senior audiences
  • Proven ability to develop strong relationships and work with all organizational levels

Preferred:

  • Prior experience developing or validating models in the following areas is a plus: Credit risk (CRE,AML, PPNR, NII/EVE, Liquidity, ALLL/CECL, Stress testing)
  • Programming skills (R, Matlab, Python, etc.).
  • Exposure to Artificial Intelligence and Machine Learning models

 

Additional Information

Visa will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of Article 49 of the San Francisco Police Code.   All your information will be kept confidential according to EEO guidelines. 

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