Manager, Model Risk Management (L9)

Job Description:

Role Title: Manager, Model Risk Management (L9)

Company Overview: Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry’s most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoors, pet and more.

• We have recently been ranked #2 among India’s Best Companies to Work for by Great Place to Work. We were among the Top 50 India’s Best Workplaces in Building a Culture of Innovation by All by GPTW and Top 25 among Best Workplaces in BFSI by GPTW. We have also been recognized by AmbitionBox Employee Choice Awards among the Top 20 Mid-Sized Companies, ranked #3 among Top Rated Companies for Women, and Top-Rated Financial Services Companies.

• We provide best-in-class employee benefits and programs that cater to work-life integration and overall well-being.

• We provide career advancement and upskilling opportunities, for all to take up leadership roles.

Organizational Overview: Synchrony's Risk Team provides independent oversight of Synchrony’s risk-taking activities to ensure safety and soundness, meet regulatory and legal requirements, and manage risks to the risk-appetite of the Board. Risk is responsible for independently assessing, quantifying, and overseeing risks & providing effective challenge. Risk serves as Synchrony’s Second Line of Defense.  

Overall, Risk Team oversees and manages the Risk Program to support the business in anticipating and addressing risks, issues and challenges. Results are consistent with the respective strategic uses and complying with related overall risk, risk testing policies, standards, procedures as well as regulations. Our Risk organization consists of 4 pillars: Compliance, Credit & Financial Risk, Enterprise Risk and Operational Risk. Each of the pillars play a vital role in managing Risk and supports the business in anticipating and addressing risks, issues, and challenges.

Enterprise Risk provides oversight on Synchrony-wide initiatives and projects and manages issues, risk assessment & reporting, risk monitoring activities, policy standards and procedure framework for governance documents.
 

Role Summary/Purpose

The Manager, Model Validation is responsible for model validation focusing on Loss/reserve/recovery/ forecast to Customer facing credit risk/Fraud risk models (Account acquisition and Account management) , and other models and ensure they are meeting the related Model Risk Management policies, standards, procedures as well as regulations (SR 11-7). This role requires expertise in supporting model validation initiatives related to quantitative analytic modeling with the Synchrony Model Governance and Validation team. This is an individual contributor role. .

Key Responsibilities

• Conduct full scope model review, annual review, ongoing monitoring model performance etc. for both internally and vendor-developed models, including new and existing, statistical/ML or non-statistical models, with effective challenges.

• Evaluate model development data quality, methodology conceptual soundness and accuracy, and conduct model performance testing including back-testing, sensitivity analysis, benchmarking, etc. and timely identify/highlight issues.

• Perform proper documentation within expected timeframes for effectively highlighting the findings for further review/investigation and facilitate informed discussions on key analytics.

• Conduct in-depth analysis of large data sets and support the review and maintenance process of relevant models and model validation documentation.

• Communicate technical information verbally and in writing to both technical and business team effectively. Additionally the role requires the capability to write detailed validation documents/reports for management

• Support in additional book of work or special projects as in when required.

Required Skills/Knowledge

• Bachelor’s degree with 2+ years of hands-on modeling experience in customer facing models such as credit, fraud, marketing or loss forecasting models or lieu of a degree 4+ Years of relevant exeprience.

• 2+ years of experience in developing/validating credit models with statistical tools like SAS, Python, SQL, etc.

• 2+ years of experience using large data sets for statistical and ML modeling within the banking or financial industry. Understanding of quantitative analysis methods or approaches in relation to credit models

• Strong programing skills with 2+ years’ hands-on and proven experience utilizing Python, Spark, SAS, SQL, AWS, Data Lake to perform statistical analysis and manage complex or large amounts of data and 4+ years of relevant experience in lieu of a degree

Desired Skills/Knowledge

• Knowledge of Credit Card/Consumer Finance products and business model.

• Strong knowledge of Regulatory requirements for MRM (SR 11-7 regulation) with proven track records of delivering Regulatory requirements.

• 2+ years in MRM in modeling and validation in the financial services industry including both analytic/modeling/quantitative experience and governance or other credit/financial discipline

Eligibility Criteria:

Bachelor’s degree with 2+ years of hands-on modeling experience in customer facing models such as credit, fraud, marketing or loss forecasting models or lieu of a degree 4+ Years of relevant exeprience.

Work Timings:

This role qualifies for Enhanced Flexibility offered in Synchrony India and will require the incumbent to be available between 06:00 AM Eastern Time – 11:30 AM Eastern Time (timings are anchored to US Eastern hours and will adjust twice a year locally). This window is for meetings with India and US teams. The remaining hours will be flexible for the employee to choose. Exceptions may apply periodically due to business needs)

We are proud to offer flexibility at Synchrony. Our way of working allows you the option to work from home or workspaces in our Regional Engagement Hubs—Hyderabad, Bengaluru, Pune, Kolkata, or Delhi/NCR.

Occasionally you may be required to commute or travel to Hyderabad or one of the Regional Engagement Hubs for in person engagement activities such as business or team meetings, trainings, and culture events.

For Internal Applicants:

• Understand the criteria or mandatory skills required for the role, before applying

• Inform your manager and HRM before applying for any role on Workday

• Ensure that your professional profile is updated (fields such as education, prior experience, other skills) and it is mandatory to upload your updated resume (Word or PDF format)

• Must not be any corrective action plan (Formal/Final Formal)

• L4 to L7 Employees who have completed 12 months in the organization and 12 months in their current role and level are only eligible

• L8+ Employees who have completed 18 months in the organization and 12 months in their current role and level are only eligible

• Employees at L4+ are eligible to apply for this opportunity

Grade/Level: 9

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