Director Enterprise Model Validation

Voya Financial • Boston, MA

2d • Hybrid

About The Position

The Director of Model Validation directly reports to the Head of Corporate Risk within the Voya Enterprise Risk Management organization. This role is responsible for leading the independent validation of all models across the enterprise, including actuarial, asset management, non-financial, and AI/ML models. The Director ensures that model risk is effectively identified, assessed, and mitigated in alignment with regulatory expectations and internal governance standards. The position plays a critical role in enhancing model transparency, audit readiness, and risk-adjusted decision-making.

Requirements

• Bachelor’s degree with actuarial credentials (ASA, FSA, or equivalent designation) or advanced degree (Master’s/PhD) in mathematics, statistics, actuarial science, finance, data science, or a related field.
• 10+ years of experience in model risk management, validation, or quantitative analytics within insurance or financial services; actuarial model validation experience strongly preferred.
• Proficiency with programming languages such as Python, R, statistical modeling software
• Deep understanding of model governance, regulatory expectations (e.g. NAIC Model Risk Guidance, SR 11-7), and industry best practices for validation.
• Familiarity with AI/ML model validation and emerging regulatory frameworks.
• Outstanding attention to detail, problem solving abilities, strong leadership, communication, and stakeholder management skills.
• Proficiency with model documentation tools and governance platforms (e.g., Riskonnect, Archer).
• Demonstrate the ability to deal with multiple issues simultaneously and to handle ambiguity and accountability while not always being in direct control of all areas involved.

Responsibilities

• Model Validation Oversight: Direct and execute the enterprise-wide model validation program, ensuring all models, including actuarial and asset management tools, are validated according to their risk tier and regulatory requirements.
• AI/ML Model Review: Establish and oversee validation protocols for AI/ML models, including annual validation cycles and evolving regulatory guidance.
• Governance & Frameworks: Develop and maintain a formalized, risk-based model validation framework, including policies, procedures, and documentation standards.
• Team Leadership: Manage a small team of validation analysts including those dedicated to AI/ML and non-AI models.
• Stakeholder Engagement: Collaborate with model owners, business units, internal audit, compliance, and IT to ensure timely and effective validations.
• Regulatory Interface: Support regulatory exams and ORSA reporting by providing validation evidence, schedules, and governance documentation.
• Platform Integration: Oversee the use of centralized validation platforms (e.g., Riskonnect) to streamline workflow, documentation, and audit tracking.
• Build strong relationships and collaborate effectively on cross-functional teams
• Perform other related duties as assigned

Benefits

• Health, dental, vision and life insurance plans
• 401(k) Savings plan – with generous company matching contributions (up to 6%)
• Voya Retirement Plan – employer paid cash balance retirement plan (4%)
• Tuition reimbursement up to $5,250/year
• Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
• Paid volunteer time — 40 hours per calendar year

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Number of Employees: 251-500 employees