Director of Model Risk
About the team + role
Interested in this role You can find all the relevant information in the description below.
Enterprise Risk at Robinhood is assisting the company’s Audit Committee and Risk Committee of the Company Board with protecting assets, reputation, and sustainability of the organization.
Enterprise Risk provides independent, objective, reliable, valued and timely assurance regarding the effectiveness of governance, risk management, and internal controls that mitigate current and emerging risks and help strengthen the internal controls ecosystem.
As Model Risk Director you will be responsible for identifying and monitoring risks associated with models being used at Robinhood including a model validation practice.
What you’ll do
- Execute and operationalize the Enterprise wide Model Risk Governance framework, in collaboration with first line Model risk teams (where applicable), incorporating shared responsibilities at the business and developer levels, and at the Enterprise level;
- Develop and implement model validation plans and methodologies, defining the scope and methodology for model validations while ensuring compliance with industry best practices and regulatory requirements;
- Work closely with model owners across Robinhood to identify and manage risks introduced by the use of models;
- Collaborate with model developers to identify potential model weaknesses or deficiencies and propose improvements or remediation actions;
- Develop in-depth expertise of Robinhood data, machine learning, and model serving systems in order to effectively assess risks and controls related to model development or use;
- Prepare comprehensive model validation reports detailing findings, recommendations, and conclusions for senior management, regulatory bodies, and auditors.
- Stay up-to-date with the latest developments in risk modeling techniques, industry standards, and regulatory guidelines, proactively identifying opportunities to optimize and enhance our model validation processes
What you bring
- Expertise in model validation and model risk management
- A minimum of 12 years of experience in the financial services industry, working in model risk management, model development or validation
- Familiarity with models in financial markets and related risks such as counterparty, fraud, market, and liquidity risk
- Ability to manage validation of risk models using current ML / AI applications
- Ability to build strong relationships and influence stakeholders in both technical and non-technical space; ability to explain complex concepts for various audiences, and have superior written and oral communication skills
- Familiarity with industry regulations and regulatory frameworks related to model risk management, such as SR 11-7
- Ability to work and thrive in a fast-paced environment
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