Director, Risk Modeling - Loss Provisioning

Boston, United States of America

The Director, Risk Modeling will be responsible for conducting independent validation of models used for loss provisioning, with regulatory guidance on model risk SR11-07 and other regulatory requirements. They will be responsible for performance robust validations, quality of effective challenge and validation reports of a wide variety of models against US supervisory guidance, established internal standards. Furthermore, the person is expected to lead the day-to-day governance responsibilities such as ongoing performance monitoring, orderly remediation of findings, and annual reviews.

• Evaluates model assumptions and weaknesses, prepares reports describing the results of the validation analyses and list the recommendations for addressing any issues identified.

• Conducts robust validations of a wide variety of models against established standards, developing benchmark, challenger and replication models where applicable.

• Manages the resolution of findings with model owners and developers.

• Partners with model owners and developers to understand the business context for model use, producing technical guidance and adding value to the business process.

• Reviews ongoing model performance, assess overall model health within a given framework, identify potential problems and work with stakeholders to resolve issues identified.

Qualifications

• Bachelor's Degree or equivalent work experience. PhD or Master’s degree in Statistics, Economics, Mathematics, or other relevant field of study preferred.

• 12+ years of experience in Model Development and/or Validation, with coverage of loss provisioning models.

• Robust programming capabilities using SAS to conducted independent testing.

• Solid communication and writing skills are required. Ability to communicate validation work with others.

• Excellent quantitative and qualitative analysis skills, outstanding time and stress management skills, team-work spirit.

• Ability to apply mathematical and programming skill in a highly practical way in order to solve problems.

At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.

Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.

Primary Location: Boston, MA, Boston

Other Locations: Massachusetts-Boston

Organization: Santander Holdings USA, Inc.

AN EQUAL OPPORTUNITY EMPLOYER M/F/Vet/Disabled/SO