Senior Director, Model Risk

Sallie Mae • Sterling, VA

2d • Hybrid

About The Position

When you join Sallie Mae, you become a champion for all students. We’re on a mission to power confidence as students begin their unique journey. To help them plan their higher education, successfully finish, and prepare for life after school. To help them Start smart. Learn big. Students need guidance navigating this important time in their life. They need someone who acknowledges that their education path is unique. They need a partner willing to evolve and not only meet but surpass their expectations. We’re changing. Because students need a better way. We’re looking for people who are excited to drive this transformation. To break barriers and think of new ways to adapt, help, and create better experiences for students—and for each other. This is where diverse backgrounds, beliefs, and perspectives matter. It’s where you’re empowered to bring your authentic self to work. Feeling your best allows you to do your best. Our benefits take care of the whole you—from physical and mental to financial and professional. You’ll get opportunities to further your education and career, support for you and your family (including your pets!), paid time off to volunteer for the things that matter to you, and more. We’re obsessed with impact and making a real difference. For us, that means putting relationships first, asking “why not?” when tackling challenges, and continuously learning new skills. Come do more than join something, change something. For students, for future generations, for the future of education. What You'll Contribute The Senior Director, Model Risk will be responsible for leading and managing the model risk management team within our organization. You will play a critical role in assessing, monitoring, and mitigating model risks across various departments, including financial modeling, credit risk, operational risk, and other areas that rely on models for decision-making.

Requirements

• Strong knowledge of quantitative modeling techniques, statistical analysis, and risk management principles.
• In-depth understanding of regulatory requirements, industry guidelines, and best practices related to model risk management.
• Excellent leadership and people management skills, with a track record of effectively managing teams and driving results.
• Exceptional communication and presentation skills, with the ability to clearly articulate complex concepts to both technical and non-technical stakeholders.
• Strong analytical and problem-solving abilities, with a keen attention to detail.

Nice To Haves

• Ability to perform analytics in either or multiple languages (Python, SAS, SQL) and expertise in BI tools (Tableau, Power BI, Microsoft Office Suite).
• Advanced degree (Ph.D., M.S., or equivalent) in a quantitative field such as mathematics, statistics, economics, or related disciplines is preferred.
• 10+ years of experience in model risk management or related fields within the financial industry.

Responsibilities

• Develop and implement a robust model risk assessment framework to evaluate the potential risks associated with models used within the organization.
• Conduct comprehensive model risk assessments, including validation, calibration, and benchmarking, to ensure models meet regulatory requirements and industry best practices.
• Collaborate with key stakeholders, including senior management, model owners, and regulators, to communicate model risk management activities and findings effectively.
• Establish and enforce effective model governance policies, procedures, and standards.
• Collaborate with cross-functional teams to develop and maintain model risk management policies and guidelines.
• Ensure compliance with regulatory requirements and industry standards related to model risk management.
• Oversee the model validation process and ensure the independence and integrity of the validation function.
• Review and evaluate model validation reports, ensuring they are comprehensive and accurately reflect model risks.

Benefits

• Competitive base salaries
• Bonus incentives
• Generous PTO, Floating Holidays and 12 Federal Holidays observed
• Support for financial-well-being and retirement
• 401k with employer match
• Comprehensive medical, dental, vision, hospital indemnity, critical illness, pet insurance and more
• Employer paid short-term/long-term disability and basic life insurance
• Flexible hybrid working arrangements.
• Paid parental leave and adoption reimbursement programs
• Free access to on-site staffed fitness centers (in Delaware) and gym subsidy (for locations outside Delaware)
• Confidential counseling support (EAP), Health Advocacy services and Wellness program with financial incentives
• Tuition Reimbursement and Family Scholarship Programs
• Career development and training opportunities

What This Job Offers

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