26 days old

Senior Model Validation Specialist - P130248_S2

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.

Responsible for performing model validation and other risk management functions in the areas of loss forecast, strategic, and capital planning, including economic capital, acquisition, and account management models for both card and non-card products, AML, and other models that affect the company's business, capital position, and financial planning.

  • Performs independent validations on statistical and financial models across different business-area models from areas of finance, treasury, acquisitions, marketing, fraud, loss forecast, PPNR forecast, risk, and collections in different lines of businesses like credit cards, network, payments, loans, and banking.
  • Writes and presents model validation reports and provides value-added recommendations to model owners and developers.
  • Queries data from multiple sources and platforms (SAS, Teradata, Essbase, Excel, and others) to find the right information for the problems.
  • Interprets model-validation test results and establishes required action plans with model owners and developers.
  • Maintains and enhances the enterprise-wide model inventory. Maintains working papers and records of model-validation results.
  • Reads model documentation, researches modeling methodology and framework, and digs deeply into data, asks the right question to learn about the modeling process and techniques, identifies model limitations, and recommends future action.
  • Builds benchmark models when necessary, using the best-practice approach in the appropriate areas.

Minimum Qualifications

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

  • Master's Degree in Statistics, Economics, Engineering, Operations Research, or related field
  • 2+ years of experience in model development and/or validation experience in a financial services industry, or related field

Preferred Qualifications:

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

  • 4+ years of experience in model development and/or validation experience in a financial services industry, or related field

  • Demonstrated proficiency in statistical tools and technology such as SAS, SQL, R etc.

  • In depth experience or theoretical understanding of financial modeling concepts (e.g., multi-factor regression models, time series analysis, Monte-Carlo analysis, etc.).

  • Prior experience in supporting Capital Planning, CECL, and Stress Testing (DFAST and CCAR)


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: 2019-07-30 Expires: 2019-09-05

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.


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Senior Model Validation Specialist - P130248_S2

Riverwoods, IL 60015

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