Head of Model and AI Risk

The Hartford • Hartford, CT

3d • Remote

About The Position

We’re determined to make a difference and are proud to be an insurance company that goes well beyond coverages and policies. Working here means having every opportunity to achieve your goals – and to help others accomplish theirs, too. Join our team as we help shape the future. The Head of Model and AI Risk serves as the second line of defense, offering independent oversight and providing credible challenge to confirm that both traditional quantitative models and advanced AI systems are developed, implemented safely, and functioning effectively. As the Head of Model and AI Risk, you will define the enterprise-wide strategy for managing risks associated with machine learning, generative AI, and traditional statistical models. You will lead a high-performing team to establish an Enterprise AI Risk Framework, perform independent assessments and validations, ensure alignment with industry frameworks (NIST AI) and compliance with regulatory expectations (e.g., NAIC Model Act/Bulletin, EU AI Act, Federal Reserve SR 11-7). This role requires a strong focus on responsible AI adoption, carefully balancing the pursuit of innovation with a steadfast commitment to risk management in a dynamic and fast paced environment. The Head of Model and AI Risk will lead a team of approximately 14 professionals. This role is based in our Hartford, CT, Home Office. Candidates based elsewhere may also be considered.

Requirements

• Leadership & Communication: Proven leadership skills, experience managing cross-functional teams, strong critical thinking, and the ability to influence senior stakeholders. Proven track record of scaling large, complex AI or technology initiatives from concept through to production and continuous improvement. Proven ability to provide decisive, independent challenge to senior leadership and influence strategic outcomes in a principles-based manner. Demonstrated success leading high-performing, multi-disciplinary teams and driving change in a large complex organizations. A track record of operating effectively in high-pressure, fast-paced environments, demonstrating resilience and sound judgment under ambiguity.
• Expertise Deep technical fluency in AI/ML and GenAI model development, validation techniques, performance benchmarking, and MLOps tools. Proficiency in programming languages (e.g. Python, R) and relevant data science libraries. Demonstrated deep subject matter expertise in Artificial Intelligence, including current and emerging technologies and their specific risk implications within a financial services context. Extensive experience in model risk management, model validation, or audit within a regulated industry (e.g., financial services, healthcare), with a proven track record of managing risks in emerging technologies. Strong understanding of relevant regulatory guidance and frameworks (e.g., SR 11-7, the NIST AI Risk Management Framework).
• A Master's or PhD degree in a quantitative field such as computer science, statistics, engineering, or economics.
• 15+ years of experience in a large, complex financial institution, regulatory body, or related field, minimum of 10 years in a senior leadership role within risk management, audit, model governance, or technology risk, with direct experience in AI deployment and oversight.

Responsibilities

• Risk Governance: Develop and maintain the Enterprise AI Risk Management Framework, aligning internal controls with NIST AI RMF and ISO 42001 standards.
• Independent Validation: Oversee model validation and technical assessments of models across the lifecycle (e.g., conceptual design, data integrity, and performance). Design and maintain risk validation framework for third-party generative AI models and services.
• Risk Analysis: Lead evaluations of specific AI risks (e.g., bias detection, explainability, adversarial robustness, hallucination). Oversee scenario and portfolio risk analysis to understand potential risks (tail risk, systemic risk, aggregate risk), quantify potential impacts and identify opportunities to enhance control mechanisms.
• Credible Challenge: Provide decisive, independent challenge on all AI initiatives, from strategy and design through execution and post-production monitoring, grounded in deep technical expertise; ensuring they remain within the organization’s risk appetite.
• Executive Reporting: Prepare high-level risk dashboards and reports for the Board of Directors and regulators, translating complex technical findings into actionable business insights.
• Tools/Technology: Drive the advancement of Model and AI risk management practices by integrating AI-powered automation and enhanced technology capabilities.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Education Level: Ph.D. or professional degree
• Number of Employees: 5,001-10,000 employees