1+ months

Lead Model Validation Specialist - P187786_S1

Riverwoods, IL 60015
  • Job Code

At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee-focused as it is on its customers and is consistently awarded for both. We're all about people, and our employees are why Discover is a great place to work. Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career.

Model Risk Management group has enterprise-wide oversight responsibility for all aspects of model risk including model governance, model validation and model performance monitoring. This group validates and approves all qualifying models used across different areas of the enterprise such as credit decision scorecards, loss and revenue forecasts, loss reserve and capital planning. The scope of the team includes model risk ratings, model validation review, model inventory management, model disclosures, model usage/performance tracking and controls.

The Lead Model Validation Specialist position will focus on the review and management of model risk in the areas of loss forecasting, CECL, CCAR stress testing, economic capital, and other financial models that have significant impact on the companys financial planning/reporting and capital position.

Works under minimal supervision.

  • Performs independent model validations and effective challenge of financial and account management models, such as balance sheet/ALM, revenue, expense, credit loss, economic capital, regulatory capital, treasury, interest rate, acquisition scorecards, AML models, and operational risk models.
  • Interprets model validation test results and establishes required action plans with model owners/developers and provides value-added recommendations to model owners/developers.
  • Maintains current/Develops new analytical reports and presentations for senior management, executive committees, and regulatory exams.
  • Manages the workflow of a team of offshore model validators.
  • Establishes and maintains independent model validation standards and procedures.
  • Proactively identifies emerging model-risk issues impacting the company and communicates to model developers, senior management and the DFS Model Governance Committee.
  • Maintains high-quality standardized model validation documentation and keeps up to date with regulations, regulatory exam requirements, and regulatory guidance.
  • Interacts with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model validation process.

Minimum Qualifications

At a minimum, here's what we need from you:

  • Bachelor's Degree in Economics, Statistics, Financial Analysis, Operation Research
  • 4+ years of experience in developing, testing, implementing, and validating financial models
Preferred Qualifications

If we had our say, we'd also look for:

  • Master's Degree in Economics, Statistics, Financial Analysis, Operation Research
  • 6+ years of experience in developing, testing, implementing, and validating financial models
  • Solid understanding and hands on skills in SAS, SQL, R, Access, Excel, Word, and PowerPoint
  • Excellent communication skills - both verbally and written - and be able to relate to all level of employees
  • Ability to multi task and with flexibility to support dynamic work environment and be able to quickly adapt to new challenges or changing priorities
  • Must be self-motivated and be able to demonstrate initiative
  • Ability to identify issues and develop solutions in an efficient manner
  • Excellent organizational and problem solving skills
  • Be able to read and interpret instructions, policy, procedures, program information, etc
  • Must be detail oriented


Discover Financial Services is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran status, among other things, or as a qualified individual with a disability.



  • Banking / Finance
Posted: 2019-07-11 Expires: 2019-11-07

Welcome to Discover
We strive to be the leading direct bank and payments services company. Our mission is to help people spend smarter, manage debt better, and save more to achieve a brighter financial future.

Why Work with Us?
You can make an impact. Whether it’s developing corporate strategy, innovating new services or supporting IT needs, every employee has the opportunity to be a vital part of our business and make a real difference in people’s lives. It’s the heart of what we do.


Employment Trends

Before you go...

Our free job seeker tools include alerts for new jobs, saving your favorites, optimized job matching, and more! Just enter your email below.

Share this job:

Lead Model Validation Specialist - P187786_S1

Riverwoods, IL 60015

Join us to start saving your Favorite Jobs!

Sign In Create Account
Powered ByCareerCast