Director, Model Risk Management AI/ML
US-VA-McLean
Careers (External)
Req #: 10948
Type: Full-Time
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Overview: Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members "do better." Joining PenFed is more than being an employee; it's about being a part of the PenFed family. PenFed is hiring a (Hybrid) Director, Model Risk Management AI/ML at our Tysons, Virginia location. The purpose of this role is to lead a critical component of the second-line Model Risk Management (MRM) function, overseeing AI/ML models across enterprise-wide. This position ensures the integrity, compliance, and effectiveness of quantitative risk models through validation, monitoring, and governance. The candidate will leverage extensive quantitative expertise and strategic judgment to independently challenge and enhance AI/ML model policy and frameworks, ensuring alignment with organizational objectives and regulatory standards. Responsibilities: Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties, and the position will perform other duties as assigned. * Contributes to development and governance policy and standards for all AI/ML risk models in use at PenFed, leading to more optimal use of models, and increased confidence in model outcomes. * Lead and perform independent model validations, focusing on evaluating model design, data, assumptions, performance and implementation for compliance with organizational and regulatory standards. * Review and assess model monitoring processes, including identifying and mitigating risks related to model drift, bias, and operational stability. * Develop and implement AI/ML risk management frameworks, ensuing models meet requirements for interpretability, fairness, robustness, and ethical considerations. * Provide clear and insightful analysis, feedback, and critique of models by way of written reports and presentations to business units and senior management. * Collaborate with model owners and stakeholders to ensure alignment on validation findings, monitoring results, and governance expectations. * Stay current with emerging AI/GenAI risks, technologies, and regulatory guidance to continuously improve validation processes and frameworks. * Partner with cross-functional teams to promote responsible AI/GenAI practices and ensure consistent application of model risk management policies across the organization. * Provide training and resources to internal stakeholders on managing AI/GenAI risks and ensuring compliance with responsible AI standards. * Manage all effective challenges for model risk, include model validations, model reviews, issue resolution reviews using internal staff and consultants. Qualifications: Equivalent combination of education and experience is considered. * Advanced degrees in quantitative subjects, such as Data Science (AI/ML), Economics, Finance, Physics, Mathematics, or related quantitative subjects. * Minimum of twelve (12) years' experience in quantitative modeling, risk management, financial research or model risk management in a financial institution. * Minimum of five (5) years' experience with programming tools, including SAS, Python, or R, required. * Minimum five (5) years' experience in AI/ML models is required. * Minimum four (4) years of direct management experience required. * Extensive experience in model development or model risk management with the financial service industry. * Proficiency in AI/ML methods, NLP, LLM, GenAI, statistical modeling and model validation techniques, including model implementation validation & testing. * Demonstrated knowledge of model risk management and associated regulatory requirements (FRB SR11-7, SR 15-18, and SR 16-11). * Experience in governance or second-line roles. * Experience working with regulators on model validation processes. * Ability to condense highly technical subject matter into clear, effective presentation-quality communications to senior management. Supervisory Responsibility This position will not directly supervise employees. Licenses and Certifications There are no additional certifications required. Work Environment While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise. *Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.* Travel The ability to travel to various worksites and be on-call may be required.
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