PenFed Credit Union-posted 9 months ago
Full-time • Mid Level
West McLean, VA
Credit Intermediation and Related Activities

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) AI/ML Model Risk Validation Manager at our Tysons, Virginia location. The purpose of this role is to support PenFed's second-line Model Validation Manager program, with a strong emphasis on model governance, operations, and quality assurance. This position is critical to ensuring the integrity, compliance, and effectiveness of models employed across the organization, with an additional focus on addressing the unique risks associated with AI/ML models. The role involves developing risk management frameworks to ensure interpretability, fairness, and robustness; leading validation activities; collaborating with model owners; and leveraging expertise in data science and risk management to foster responsible AI practices.

  • Perform and coordinate 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.
  • Collaborate with model owners and stakeholders to ensure alignment on validation findings, monitoring results, and governance expectations.
  • Prepare high-quality validation reports and documentation to support regulatory examinations, internal audits, and senior management reviews.
  • Develop and implement AI/ML risk management frameworks, ensuring models meet requirements for interpretability, fairness, robustness, and ethical considerations.
  • 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.
  • Master's degree in quantitative subjects, such as Data Science (AI/ML), Economics, Finance, Physics, Mathematics, or related quantitative subjects, required.
  • Minimum of Six (6) years' experience working with behavioral credit risk model developments and/or model validations.
  • Minimum of Three (3) years' experience with programming tools, including SAS, Python, or R.
  • Minimum five (5) years' experience in model risk management within the financial service industry.
  • Strong knowledge of capital stress testing methodologies, regulatory reporting (e.g., CECL).
  • Strong understanding of behavioral credit loss forecast models, credit underwriting models, and market risk models.
  • Proficiency in AI/ML methods, NLP, LLM, 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).
  • Strong communication skills and ability to lead effective discussions with key stakeholders and influence decisions.
  • Strong analytical and problem-solving skills, critical thinking.
  • Two (2) years' experience in AI/ML models is preferred.
  • Prior knowledge or experience with Quantitative Risk Management (QRM) and PolyPath is desirable.
  • Robust medical, dental and vision plan options.
  • Plenty of paid time off.
  • 401k with employer match.
  • On-site fitness facilities at larger locations.
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