Director, Model Risk Management - Irving, Texas

About the role

The primary purpose of this position is to lead PenFed's Model Validation for Consumer Banking and Fraud Risk Management in the Model Risk Management program. The Director will focus on the validation and monitoring of performance for models critical to executive decision-making in the areas of consumer banking new acquisitions, marketing campaigns, fraud risk detection, consumer portfolio credit risk management, and membership risk management. This is a hybrid role based in Tysons, Virginia; San Antonio, Texas; or Irving, Texas.

Responsibilities

• Lead and oversee the model validation function, providing independent review and effective challenge of models used for credit and fraud risk management across retail lending and mortgage portfolios.
• Contribute to the development and governance standards for consumer banking models in use at PenFed, leading to more optimal use of models and increased confidence in model outcomes.
• Provide clear and insightful analysis, feedback, and critique of models by way of written and/or oral reports to business units and senior management.
• Perform and lead independent validation of models in use at PenFed, including pre-implementation validations, change reviews, and ongoing monitoring, providing effective challenge to model design, methodology, data, outcomes and performance.
• Maintain effective relationships and communication channels with model users, owners, and governance partners.
• Continually improve and enhance quantitative modeling approaches and methodologies, including agentic AI and advanced machine learning, to promote alignment with industry best practices.
• Provide senior leadership to the department by maintaining awareness of evolving market trends which could impact the efficacy of modeling efforts, and remaining abreast of regulatory developments impacting PenFed's model risk management profile.

Qualifications

• Minimum of Bachelor's degree in Finance, Economics, Mathematics or Statistics required.
• Advanced degree (Master's or Ph.D.) in a quantitative field such as Finance, Economics, Mathematics, or Statistics preferred.
• Minimum of seven (7) years of experience in quantitative modeling, consumer credit risk management, consumer acquisition, fraud risk management, or model risk management within a financial institution.
• Minimum of three (3) years in a direct management or supervisory leadership role.
• Proven experience overseeing the creation, adjustment, validation, testing, monitoring, and documentation of advanced machine learning techniques.
• Strong familiarity with Bureau credit data, large database management, and advanced machine learning models, with the capability to evaluate and challenge work products built using open-source programming tools (e.g., Python).
• Deep understanding of regulatory lending compliance standards and industry model risk frameworks (e.g. SR 26-2, SR 11-7).
• Prior experience operating successfully within a formal governance or second-line risk management framework.
• Demonstrated experience working directly with regulatory bodies and managing model validation audit processes.
• Exceptional communication skills, with a proven ability to translate complex, highly technical subject matter into strategic, presentation-quality insights for senior management.
• Experience using AI tools preferred.
• At the time of hire, applicants must be authorized to work in the United States without current or future employer sponsorship.

Supervisory responsibility

This position will supervise employees.

Licenses and certifications

There are no additional certifications required.

Work environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise. Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.

Travel

Ability to travel to various worksites and be on-call will be required.

Pay

The anticipated starting salary range for this role is $97,400.00 - $216,259.00. This position is eligible for an organizational performance based annual bonus, subject to board discretion and approval, and an individual performance based annual bonus.

Benefits

• Comprehensive health, dental, and vision plans
• Paid time off
• Family-friendly benefits including paid parental leave, care support, and fitness center access
• Financial wellness features: 401(k) match, employee loan discounts, fully paid life and disability coverage
• Education assistance
• Community involvement and volunteer opportunities