Machine Learning Model Risk Specialist

Upstart

121d • $108,300 - $150,000

About The Position

Upstart is the leading AI lending marketplace partnering with banks and credit unions to expand access to affordable credit. By leveraging Upstart's AI marketplace, Upstart-powered banks and credit unions can have higher approval rates and lower loss rates across races, ages, and genders, while simultaneously delivering the exceptional digital-first lending experience their customers demand. More than 80% of borrowers are approved instantly, with zero documentation to upload. Upstart is a digital-first company, which means that most Upstarters live and work anywhere in the United States. However, we also have offices in San Mateo, California; Columbus, Ohio; and Austin, Texas. Most Upstarters join us because they connect with our mission of enabling access to effortless credit based on true risk. If you are energized by the impact you can make at Upstart, we’d love to hear from you! The Team: Upstart’s ML Model Risk team is responsible for ensuring that the risk of machine learning (ML) models at Upstart is well-understood, monitored, and mitigated, which requires deep understanding of the models themselves. This work is essential for Upstart’s internal risk management, ensuring that our models help us make better decisions, and to maintain credibility with external stakeholders such as our lending partners and regulators. The team’s focus is on articulating sound model risk management principles and implementing them in collaboration with our peers on Upstart’s Risk and Machine Learning teams. This work also includes explaining our ML models to stakeholders, supporting external validations, and conducting analyses to reinforce our goals. As an ML Model Risk Specialist at Upstart, you will contribute to the implementation of Upstart’s model risk management program. This work includes collaborating with our Machine Learning teams to meet model risk management requirements, with tasks ranging from producing robust model documentation, assisting with monitoring and validation efforts, and partnering with other Upstart stakeholders to understand model risk management needs across the enterprise.

Requirements

• Master’s degree in quantitative field such as finance, mathematics, economics, statistics or a related discipline.
• Internship or project experience related to model risk management, model governance, machine learning, or data science.
• Basic understanding of AI/ML methodologies such as tree-based models and neural networks.
• Experience coding in R, Python, or similar languages such as Matlab.

Nice To Haves

• PhD in a quantitative field of study such as statistics, econometrics, finance, mathematics; or a related discipline.
• 1+ years of experience in model risk management or model governance, or related fields such as ML and Data Science, Risk, Trust and Safety, or Technical Writing.
• Strong communication skills: ability to adapt technical information to varying needs and audiences, and managing trade-offs such as providing modeling detail while protecting intellectual property.
• Proactive mindset with the ability to take initiative.
• Understanding of advanced AI/ML topics such as model monitoring, fairness, and explainability.
• Advanced coding skills in R, Python, and SQL, and experience using Git.
• Interest in or knowledge of consumer lending.

Responsibilities

• Partner with model developers in the Machine Learning team to maintain robust and up-to-date model inventory, model risk assessments, documentation, and monitoring reports.
• Ensure that documentation is both technically adequate and comprehensible to stakeholders with varying needs and levels of technical sophistication.
• Provide effective challenge of Upstart’s models and communicate modeling assumptions to external stakeholders.
• Help answer model questions from lending partners, in collaboration with other teams.
• Collaborate with central Upstart’s Legal and Compliance teams as needed to ensure our model risk management implementation meets or exceeds Upstart’s internal policies as well as regulatory requirements.
• Track team goals and progress.
• Perform risk assessment for the model risk management program.

Benefits

• Medical insurance
• Dental insurance
• Vision insurance
• 401k
• Target bonuses
• Equity compensation

What This Job Offers

• Career Level: Entry Level
• Education Level: Master's degree
• Number of Employees: 1,001-5,000 employees