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Director Model Risk Governance Jobs in Delaware (NOW HIRING)

Sallie Mae

Senior Director, Model Risk

Newark, DE · On-site

What You'll Contribute The Senior Director, Model Risk will be responsible for leading and managing ... Establish and enforce effective model governance policies, procedures, and standards. * Collaborate ...

Sallie_mae

Senior Director, Model Risk

Newark, DE · On-site

What You'll Contribute The Senior Director, Model Risk will be responsible for leading and managing ... Establish and enforce effective model governance policies, procedures, and standards. * Collaborate ...

Sallie_mae

Manager, Model Risk

Newark, DE · On-site

Conduct periodic model risk assessments, including model governance, validation, and ongoing monitoring, to identify and mitigate potential risks. * Prepare and present reports on model risk to ...

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Director Model Risk Governance information

What is the difference between Director Model Risk Governance vs Model Risk Analyst?

AspectDirector Model Risk GovernanceModel Risk Analyst
CredentialsAdvanced degrees (e.g., Master’s, PhD), professional certifications (e.g., FRM, CFA)Bachelor’s or Master’s degree, relevant certifications
Work EnvironmentStrategic oversight, policy development, senior stakeholder engagementData analysis, model validation, risk assessment
Employer & Industry UsageFinancial institutions, banks, asset managersFinancial institutions, risk management teams
Search & Comparison IntentUnderstanding leadership roles in model risk governanceEntry to mid-level model risk roles, analysis tasks

The main difference is that the Director Model Risk Governance focuses on strategic oversight, policy setting, and managing model risk at a senior level, while the Model Risk Analyst handles technical validation, data analysis, and risk assessment tasks. The director role involves leadership and decision-making, whereas the analyst role is more technical and operational.

What are the key skills and qualifications needed to thrive as a Director of Model Risk Governance, and why are they important?

To thrive as a Director of Model Risk Governance, you need deep expertise in quantitative finance, risk management, and model validation, often backed by an advanced degree in a quantitative field and relevant industry experience. Familiarity with risk management frameworks, regulatory standards (e.g., SR 11-7), and proficiency in analytical tools like Python, R, or SAS are typically required. Exceptional leadership, communication, and critical thinking skills help you effectively oversee teams and coordinate with stakeholders across the organization. These competencies are vital to ensure robust model governance, regulatory compliance, and informed risk-based decision-making at the enterprise level.

What are Director Model Risk Governance roles?

Director Model Risk Governance roles are senior positions responsible for overseeing and managing the risks associated with financial and predictive models within an organization. These professionals establish and implement model risk management frameworks, ensure compliance with regulatory requirements, and oversee model validation processes. They collaborate with model developers, validators, and business units to identify, assess, and mitigate model risks, as well as report on governance effectiveness to senior management. Their work is crucial in maintaining the reliability and integrity of models used for decision-making and regulatory reporting.

What are some common challenges faced by a Director of Model Risk Governance, and how can they be addressed?

A Director of Model Risk Governance often encounters challenges such as ensuring consistent model validation across diverse business units, keeping up with evolving regulatory requirements, and fostering effective communication between model owners, validators, and senior management. Addressing these challenges typically involves establishing robust model risk frameworks, maintaining clear documentation, and promoting a culture of transparency and collaboration. Regular training sessions and open forums can help bridge knowledge gaps, while leveraging technology can streamline model inventory and validation processes.
What job categories do people searching Director Model Risk Governance jobs in Delaware look for? The top searched job categories for Director Model Risk Governance jobs in Delaware are:
What cities in Delaware are hiring for Director Model Risk Governance jobs? Cities in Delaware with the most Director Model Risk Governance job openings:
Director Model Risk Governance jobs near you
Senior Director, Model Risk

Senior Director, Model Risk

Sallie Mae

Newark, DE • On-site

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 6 days ago

Sallie Mae rating

6.8

Company rating: 6.8 out of 10

Based on 5 frontline employees who took The Breakroom Quiz

Job description

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.
What You'll Do
  • 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.

The above information is intended to describe the general nature and level of work performed by employees assigned to this job; it is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees in this role.
What you have
Minimum: Indicate minimum education, skills and experience required.
  • 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.

Preferred: Indicate "nice to haves" regarding education, skills, and experience.
  • 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.

The Americans with Disabilities Act
The Americans with Disabilities Act of 1990 (ADA) prohibits discrimination by employers, in compensation and employment opportunities, against qualified individuals with disabilities who, with or without reasonable accommodation, can perform the "essential functions" of a job. A function may be essential for any of several reasons, including: the job exists to perform that function, the employee holding the job was hired for his/her expertise in performing the function, or only a limited number of employees are available to perform that function.
Feeling your best helps you do your best:
Our benefits take care of the whole you-so you can build your work around your life (not the other way around!).
  • 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

Not the right fit? Let us know you're interested in a future opportunity by clicking Introduce Yourself in the top-right corner of the page or create an account to set up email alerts as new job postings become available that meet your interest!
Sallie Mae is proud to be an equal opportunity (EEO) employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender, sexual orientation, national origin, age, genetic information, gender identity, disability, Veteran status or any other characteristic protected by federal, state or local law. Click here to view the U.S. Pay Transparency Policy, here for federal job applicant notices, and here to view the California Employee Privacy Notice.
Reasonable accommodations are available for applicants with disabilities in all phases of the application and employment process. To request an accommodation please call (855) 756-2007 and choose option 9. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

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