Model Risk Management Lead - Ford Credit Bank

About the role

The Ford Motor Credit Company team helps put people behind the wheels of great Ford and Lincoln vehicles. By partnering with dealerships, we provide financing, personalized service and professional expertise to thousands of dealers and millions of customers in over one hundred countries around the world.

Ford Motor Credit Company (“Ford Credit”) has received regulatory conditional approval to form Ford Credit Bank (the “Bank”), to be headquartered in Salt Lake City, Utah. The Bank will create innovative and simplified banking solutions to help customers across the country finance the purchase of new Ford vehicles, parts, accessories, EV Infrastructure and software and will accept deposits with competitive rates on FDIC-insured savings accounts and certificates of deposit. The Bank will be a direct and wholly owned subsidiary of Ford Credit, an indirect wholly owned subsidiary of Ford Motor Company (“Ford”).

The successful candidate will be a member of an exciting and dynamic team of banking professionals who would have the opportunity to stand up and begin the operations of the de novo Bank. The Model Risk Management (MRM) Lead will be the technical subject matter expert for the models and analytics used to run the Bank. You will gain broad exposure across credit scoring, pricing, collections, financial crimes, expected credit loss methodologies, and more. This individual will report directly to the Bank’s Director of MRM and will assist in the execution of the MRM program in compliance with the Bank’s policy and procedures and regulatory expectations.

Responsibilities

• Provide oversight of the execution of the Bank’s Model Risk Management Program to align with the Bank’s risk appetite and align with supervisory guidance SR 26-2
• Oversee the independent validation of all models, ensuring that they are conceptually sound, statistically robust, fit for their intended purpose, and all validation activities and conclusions are adequately documented consistent with Bank policies and procedures, which also includes oversight of non-models and end user computing (EUC)
• Maintain a robust model inventory, ensuring accurate and complete development and validation documentation of all models used within the Bank
• Review result of ongoing model performance monitoring and escalate deteriorating model performance
• Monitor and ensure that models are used in line with the approved use and use plan
• Track and report on model issues and review completed issue remediation
• Assist in reporting of consolidated view of model risk across the Bank, including significant individual model risk and model risk in the aggregate, the state of compliance with and recent and outstanding exceptions
• Collaborate effectively with model owners, developers, business stakeholders, and other department heads to deliver on specific objectives and initiatives
• Communicate model risk management policies, procedures, and expectations to stakeholders across the organization
• Stay abreast of industry trends, regulatory changes, and emerging risks related to model risk management
• Assist in regulatory examinations, internal audits, and external audits of the model risk management program. Respond to exams and audit concerns and corrective action of all related findings

Requirements

• Master’s degree in a highly quantitative discipline (e.g. Statistics, Mathematics, Engineering, or Data Science)
• Minimum 5 years of experience in Model Development or Model Validation
• Proficiency in statistical programming languages (e.g., SAS, Python, R, or SQL)
• Extensive knowledge of various regression techniques, machine learning, times series techniques, and other statistical models
• Exceptional ability to explain complex mathematical concepts to non-technical stakeholders and senior management
• Demonstrated ability to work autonomously as a self-starter with strong ownership mindset
• Excellent organizational skills and the ability to work well under pressure both independently and collaboratively within a team environment

Qualifications

• Must be legally authorized to work in the United States

Skills

• Strong analytical and problem-solving skills
• Ability to communicate complex concepts to non-technical audiences
• Experience with data analysis and modeling
• Knowledge of financial regulations and compliance requirements

Benefits

Immediate medical, dental, vision and prescription drug coverage
Flexible family care days, paid parental leave, new parent ramp-up programs, subsidized back-up child care and more
Family building benefits including adoption and surrogacy expense reimbursement, fertility treatments, and more
Vehicle discount program for employees and family members and management leases
Tuition assistance
Established and active employee resource groups
Paid time off for individual and team community service
A generous schedule of paid holidays, including the week between Christmas and New Year’s Day
Paid time off and the option to purchase additional vacation time.

Pay

This position is a salary grade 8 and ranges from $94,800-$166,200.

Schedule

This position is hybrid. Candidates who are in commuting distance to a Ford hub location may be required to be onsite four or more days per week.