The Head of Model Validation is responsible for leading the model validation function in the execution of best-practice model validation activities to ensure models across Ally are conceptually sound relative to their intended use and performing appropriately.
- Direct the Model Validation managers, each with a team of quantitative analysts, to effectively challenge the model development, implementation, and use processes.
- Ensure accurate and consistent validation and performance of models across Ally.
- Identify risks and provide recommendations to mitigate those risks.
- Document and present findings to model risk management leaders.
- Contribute to the model risk management framework for Ally, including annual validation plans, model inventory, and model risk ranking.
- Develop and maintain effective partnerships with participants / stakeholders within Ally's model risk management community.
- Master's degree in finance, economics, statistics or related field required, Ph.D. preferred
- 10+ years in the financial services industry; model validation-specific experiencerequired
- Expertise with market, credit and operational risk measurement methodologies and quantitative analytics
- Ability to assess model conceptual design, back-testing of model results, theoretical underpinnings and assumptions, model owner controls over data flows, model execution, and compliance of model results with intended application by model users
- Demonstrated analytical approach to complex processes
- Adept at working in a multi-faceted organization
- Strong technical writing and verbal communication skills
- Extreme attention to detail and willingness to review each word within a report
- Experience in dealing with both internal stakeholders and external regulators