Model Risk Management Lead - Ford Credit Bank

Ford Motor • Salt Lake, UT

1d • Hybrid

About The Position

Ford Motor Credit Company (“Ford Credit”) has received regulatory conditional approval to form Ford Credit Bank (the “Bank”), to be headquartered in Salt Lake City, Utah. The Bank will create innovative and simplified banking solutions to help customers across the country finance the purchase of new Ford vehicles, parts, accessories, EV Infrastructure and software and will accept deposits with competitive rates on FDIC-insured savings accounts and certificates of deposit. The Bank will be a direct and wholly owned subsidiary of Ford Credit, an indirect wholly owned subsidiary of Ford Motor Company (“Ford”). The people of Ford Credit have a 60-year commitment to helping put people behind the wheels of great Ford and Lincoln vehicles. By partnering with dealerships, we provide financing, personalized service, and professional expertise to five thousand dealers and more than four million customers in over 100 countries around the world. The proposed Bank will be a strategic addition to Ford Credit and is key to providing the capabilities needed to meet the financing expectations of Ford customers. If you’re customer-focused, driven and seeking the opportunity to experience exciting challenges and growth, look no further. The successful candidate will be a member of an exciting and dynamic team of banking professionals who would have the opportunity to stand up and begin the operations of the de novo Bank. New employees hired by the bank will initially be Ford Credit employees. Once the bank is formally established, these employees may be transferred to the new bank. Come help build a better world, where every person is free to move and pursue their dreams. Ford was built on the belief that freedom of movement drives human progress. It’s a belief that has fueled our passion to create great cars and trucks. And today, it drives our commitment to become the world’s most trusted mobility company, designing vehicles for a smart world that helps people move more safely, confidently, and freely. Ford is experiencing significant business transformation in an ever-changing digital world. We are dedicated to delivering distinctive products and solutions, having an “always on” relationship with customers and continuously improving our user experience. In this position... Play a vital role in an exciting and dynamic team of banking professionals to stand up and begin operations of the de novo Bank. The Model Risk Management (MRM) Lead will be the technical subject matter expert for the models and analytics used to run the Bank. You will gain broad exposure across credit scoring, pricing, collections, financial crimes, expected credit loss methodologies, and more. This individual will report directly to the Bank’s Director of MRM and will assist in the execution of the MRM program in compliance with the Bank’s policy and procedures and regulatory expectations. The MRM Lead will ensure the appropriate identification, assessment, validation, and ongoing monitoring of models and quantitative methodologies.

Requirements

• Master’s degree in a highly quantitative discipline (e.g. Statistics, Mathematics, Engineering, or Data Science)
• Minimum 5 years of experience in Model Development or Model Validation
• Proficiency in statistical programming languages (e.g., SAS, Python, R, or SQL)
• Extensive knowledge of various regression techniques, machine learning, times series techniques, and other statistical models
• Exceptional ability to explain complex mathematical concepts to non-technical stakeholders and senior management
• Demonstrated ability to work autonomously as a self-starter with strong ownership mindset
• Excellent organizational skills and the ability to work well under pressure both independently and collaboratively within a team environment

Responsibilities

• Provide oversight of the execution of the Bank’s Model Risk Management Program to align with the Bank’s risk appetite and align with supervisory guidance SR 26-2
• Oversee the independent validation of all models, ensuring that they are conceptually sound, statistically robust, fit for their intended purpose, and all validation activities and conclusions are adequately documented consistent with Bank policies and procedures, which also includes oversight of non-models and end user computing (EUC)
• Maintain a robust model inventory, ensuring accurate and complete development and validation documentation of all models used within the Bank
• Review result of ongoing model performance monitoring and escalate deteriorating model performance
• Monitor and ensure that models are used in line with the approved use and use plan
• Track and report on model issues and review completed issue remediation
• Assist in reporting of consolidated view of model risk across the Bank, including significant individual model risk and model risk in the aggregate, the state of compliance with and recent and outstanding exceptions
• Collaborate effectively with model owners, developers, business stakeholders, and other department heads to deliver on specific objectives and initiatives
• Communicate model risk management policies, procedures, and expectations to stakeholders across the organization
• Stay abreast of industry trends, regulatory changes, and emerging risks related to model risk management
• Assist in regulatory examinations, internal audits, and external audits of the model risk management program.
• Respond to exams and audit concerns and corrective action of all related findings

Benefits

• Immediate medical, dental, vision and prescription drug coverage
• Flexible family care days, paid parental leave, new parent ramp-up programs, subsidized back-up child care and more
• Family building benefits including adoption and surrogacy expense reimbursement, fertility treatments, and more
• Vehicle discount program for employees and family members and management leases
• Tuition assistance
• Established and active employee resource groups
• Paid time off for individual and team community service
• A generous schedule of paid holidays, including the week between Christmas and New Year’s Day
• Paid time off and the option to purchase additional vacation time.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior