Model Validation

Vanguard•Malvern, PA

2d•Hybrid

About The Position

The Model Risk Management (MRM) Team, part of Vanguard's second line of defense, is seeking a quantitative model risk professional to support the independent oversight of models used across Vanguard's Investment Management Group (IMG). Vanguard is a global investment management firm with a mission to give investors the best chance for investment success. Through IMG, Vanguard designs, manages, and oversees active and passive investment strategies across asset classes, investment vehicles, and geographies. These activities rely on a broad range of quantitative models, including alpha and signal models, portfolio construction and optimization models, risk models, trading models, asset allocation models, and AI/ML-enabled investment workflows. In this role, you will perform independent validation and effective challenge of investment models, helping ensure that models are conceptually sound, appropriately governed, and fit for purpose. You will work closely with quantitative researchers, data scientists, portfolio managers, model developers, and technology partners, providing credible challenge while building strong collaborative relationships across the business. Beyond individual model reviews, you will contribute to the continued evolution of Vanguard's model risk management framework, methodologies, standards, and practices across both traditional quantitative models and AI/ML-driven solutions.

Requirements

Master's or PhD degree in a quantitative discipline such as Statistics, Mathematics, Computer Science, Engineering, Physics, Finance, Data Science, or a related field (or equivalent combination of education and relevant experience).
3+ years of relevant experience, ideally 7+ years, in model development, quantitative research, model validation, model risk management, or a related field.
Experience in asset management, investment research, quantitative investing, or financial services.
Strong knowledge in one or more areas such as: Equities Fixed Income Portfolio Construction & Optimization Alpha/Signal Research Risk Modeling Machine Learning and AI Applications
Experience developing, testing, reviewing, or validating quantitative and/or AI/ML models.
Programming experience in Python and/or similar analytical languages.
Strong analytical, communication, and stakeholder management skills.
Demonstrated intellectual curiosity, sound judgment, and willingness to learn and evolve in a rapidly changing environment.

Nice To Haves

Familiarity with cloud, MLOps, CI/CD, or modern model development environments is preferred.
Familiarity with third-party investment and risk platforms (e.g., Barra, Axioma, Aladdin) is a plus.
Prior people leadership experience is a plus but not required.

Responsibilities

Perform independent validation of investment models across major asset classes, including alpha/signal models, portfolio construction and optimization models, risk models, trading models, asset allocation models, and AI/ML-enabled investment workflows.
Provide effective challenge of model assumptions, methodologies, data, implementation, controls, limitations, and performance monitoring frameworks.
Produce high-quality validation reports and communicate findings clearly to both technical and non-technical stakeholders.
Develop and enhance validation methodologies, procedures, and testing approaches to support consistent and risk-based model oversight.
Contribute to the design and enhancement of model risk management policies, standards, and procedures across the model lifecycle.
Advise stakeholders on model risk governance, validation expectations, and emerging industry practices.
Remain current on developments in quantitative investing, model validation, AI/ML, and model governance.
Partner effectively across investment, technology, risk, and control functions.
Participate in special projects and broader MRM initiatives as needed.