Senior Director, Model Risk Management

  • Full-time
  • Job Family Group: Product Development

Company Description

Visa USA is a Visa company. 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

The Model Risk Management (MRM) team at Visa has a mandate to validate business-impactful models firm-wide and more generally to identify, measure, and handle model risk across Visa. The Senior Director, Model Validation, Model Risk Management will be responsible for model validations of complex models to strengthen model risk management capabilities at Visa.

Essential Functions:

•       Building/developing Model Validation capability at Visa, globally

•       Providing thought leadership in enhancing the Model Risk Management program at Visa

•       Keeping abreast of latest Model Risk Management and other related regulatory guidance and best practices

•       May manage and review validation of models completed by analyst team.

•       Identify sources of risk in models. Conduct validations for highly complex quantitative and financial and AL/ML models. Thoroughly and comprehensively review all model components and developmental evidences. Responsible for providing effective challenges to conceptual soundness of models and conducting quantitative analytics.

•       Present validation work through formal validation reports, as well as thorough presentations to model owners and senior management. Clearly and concisely document and communicate validation findings.

•       Present and effectively support findings to model developers, users and senior management. Develop and prioritize constructive recommendations for model changes or enhancements.

•       Maintain detailed and comprehensive records of validation projects through work papers and other acceptable project artifacts.

•       Maintain accurate data in the firm’s model inventory. Track and review model performance monitoring results. Review evidences for closure of model validation findings.

•       Build strong working relationships with key model stakeholders, in particular, model developers and users. Facilitate communication between model validation teams and other stakeholders, including model owners

Qualifications

Basic:

  • 12 years of work experience with a Bachelor’s Degree; 10 years of work experience with an Advanced degree (e.g. Masters/MBA/JD/MD); or a minimum of 5 years of work experience with a PhD

Preferred:

•       Master's Degree Quantitative field or MBA with quantitative focus, Ph.D. preferred

•       Experience with fraud, credit score cards

•       Experience working with large data sets

•       Familiarity with leading model risk management practices and applicable regulatory guidance

•       A minimum of 15 years prior relevant work experience

•       Advanced knowledge of quantitative models obtained through advanced degree (PhD, MS, or MFE)

•       Strong quantitative skills and practical experiences in areas such as financial theories, econometrics, statistics, hazard modeling and time series analysis.

•       2+ years practical experience in Scikit-learn in Python, Tensorflow, Hadoop, Spark, SQL, etc.

•       Advanced knowledge of statistical and machine learning models (e.g., logistic regression, time series analysis, random forests, SVMs, XGBoost, CNNs/RNNs)

•       3+ years practical experience with model risk management and applicable regulatory guidance

•       Excellent writing and verbal communication skills

•       Ability to manage multiple projects simultaneously to meet aggressive deadlines with high standards for quality

•       Demonstrated experience leading high performing teams and proven ability to develop & maintain strong relationships across the organization

•       Ability to work independently on complex model validations from start to finish

•       Eagerness to contribute collaboratively on projects and discussions

•       Keen interest in continuously updating skills and extraordinary curiosity

•       Attention to detail in both analytics and documentation

•       Extensive experience leading in a matrix, able to drive progress and decisions with no oversight

•       Must be able to take direction and then work independently

•       Encourages decision making by demonstrating confidence and trust

•       Actively listens to and draws out all view points of the team

•       Provides real-time, meaningful insights to develop and motivate people to do their best work

•       Well versed on the latest technology and advanced modelling approaches (AI and ML)

•       Continuously evolve skills and expertise as the business and industry evolves

•       Brings game changing ideas/thinking that help Visa differentiate itself from our competitors

Additional Information

All your information will be kept confidential according to EEO guidelines.

This position will be performed in an office setting.  The position will require the incumbent to sit and stand at a desk, communicate in person and by telephone, frequently operate standard office equipment, such as telephones and computers, and reach with hands and arms.

This position requires the incumbent to be available during core business hours

This position requires the incumbent to travel for work 0%  of the time.

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