Principal Model Validation Specialist

Job Location
United States-IL-Chicago
Work Status
Full-Time
Department
Operational Risk Management 364
FLSA Status
Exempt
Requisition ID
2025-4194
Career Level
P3

In this role, you will be a subject matter expert leading the second line of defense oversight of the Model Risk Management (MRM) program, including independent completion of model validations and preparing and monthly MRM risk reporting for credit risk and treasury management (ALM) finance, and underwriting related models. Full oversight of internal model owners and users compliance with model risk management policies and practices, including model inventory accuracy, model documentation accuracy, model performance results, and other key MRM requirements.

Responsibilities

  • Serve as a subject matter expert for MRM, lead the execution of the model validation strategy, including the review and validation of credit, market, operational risk, loss forecasting, stress testing, ALM, AML, fraud, pricing analytics, and CECL models.
  • Independently complete model validations that are accurate, complete, and compliant with policy, standards and procedures. Execute MRM responsibilities by visualizing abstract concepts, see relations between them, and draw constructive conclusions.
  • Create, develop and implement internal model validation framework, including model validation and reporting templates.
  • Work independently to deliver strategic insights and actionable recommendations on model risk to MRM and leaders, driving organizational growth and maturity.
  • Develop validation approaches, and incorporate them into model risk practices while staying abreast of emerging modeling techniques and evolving regulatory expectations.
  • Oversee and manage, third-party model validation work, including review validation processes, assess findings, and provide feedback to improve quality and effectiveness.
  • Review and assess model performance results to ensure appropriate levels of model risk, and evaluate validation reports from third-party vendors.
  • Deliver validation results and potential findings to members of management, and transition into formal action plans.
  • Manage conflict, identify common ground and resolve issue resolution effectively, while maintaining confidentiality and discretion

 

Education:

  • Bachelors Degree - Mathematics, Statistics, Quantitative Finance, Engineering, Computer Science or Related - Minimum
  • Graduate Degree - Data science, predictive analytics, or machine learning - Preferred

 

Years of Experience:

  • 10 Years - Building, testing, implementing and validating complex and sophisticated models used in the financial services industry, or related - Minimum

 

In Lieu of Education:

  • 15 Years - Building, testing, implementing and validating complex and sophisticated models used in the financial services industry

 

Compensation & Benefits:

Typical hiring range:‏‏‎ ‎$113,000‏‏‎ ‎-‏‏‎ ‎$159,550 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge. 

Additional Compensation: Annual performance bonus 

Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match.

Additional Benefits:

  • Work from home up to 3 days a week
  • Paid parental leave
  • Employee discount programs
  • Time off including paid personal and sick days
  • 11 paid holidays 
  • Education reimbursement

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.

 

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.

 

The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.

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