Principal Model Validation

at Discover in Riverwoods, Illinois, United States

Job Description

Discover. A brighter future.

With us, you’ll do meaningful work from Day 1. Our collaborative culture is built on three core behaviors: We Play to Win, We Get Better Every Day & We Succeed Together. And we mean it – we want you to grow and make a difference at one of the world’s leading digital banking and payments companies. We value what makes you unique so that you have an opportunity to shine.

Come build your future, while being the reason millions of people find a brighter financial future with Discover.

Job Description:

Responsible for managing the execution of validation activities for financial models, acquisition and portfolio management scorecards, AML models and anti-fraud tools in including AI/ML accordance with the governance framework, policies, and procedures, and provide recommendations for continuous model enhancements across the enterprise. Actively manages and escalates risk and customer-impacting issues within the day-to-day role to management.


+ Manages 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, ML/AI models, AML models, and operational risk model with a focus on NLP, LLM, and Generative AI.

+ Interprets model validation test results and establish required action plans with model owners/developers and provide value-added recommendations to model owners/developers.

+ Maintains current/develop new analytical reports and presentations for senior management, executive committees, and regulatory exams.

+ Manages the workflow of a team of offshore model validators.

+ Actively participates in the production, maintenance and compliance with model validation policies, standards, and procedures.

+ Proactively identifies emerging model risk issues from evolving AI techniques impacting the Company and communicates to model developers, senior management and the DFS Model Governance Committee.

+ Important Maintains standardized model validation documentation, and keeps up to date with regulations, regulatory exam requirements and regulatory guidance.

Minimum Qualifications

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

+ Master’s degree in economics, Statistics, Business or Engineering

+ 4 + years of experience building testing, implementing, and validating complex and sophisticated models used in the financial services industry, or related experience.

Preferred Qualifications

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

+ PhD Degree in Economics, Statistics, Business or Engineering, Mathematics, Computer Science, Physics

+ 6 + years of experience building, testing, implementing, and validating complex and sophisticated models used in the financial services industry, or related experience.


Application Deadline:

The application window for this position is anticipated to close on Mar-10-2024. We encourage you to apply as soon as possible. The posting may be available past this date, but it is not guaranteed.


The base pay for this position generally ranges between $88,500.00 to $149,300.00. Additional incentives may be provided as part of a market competitive total compensation package. Factors, such as but not limited to, geographical location, relevant experience, education, and skill level may impact the pay for this position.


We also offer a range of benefits and programs based on eligibility. These benefits include:

+ Paid Parental Leave

+ Paid Time Off

+ 401(k) Plan

+ Medical, Dental, Vision, & Health Savings Account

+ STD, Life, LTD and AD&D

+ Recognition Program

+ Education Assistance

+ Commuter Benefits

+ Family Support Programs

+ Employee Stock Purchase Plan

Learn more at .

What are you waiting for? Apply today!

All Discover employees place our customers at the very center of our work. To deliver on our promises to our customers, each of us contribute every day to a culture that values compliance and risk management.

Discover is committed to a diverse and inclusive workplace. Discover is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status, or other legally protected status. (Know Your Rights) (\\https:/\\;ABIVgRw0WsyX2wfQC-pKxK3V9X4h1NBUGgjO7EM8PTvp5MNRgpEuVC\jVk0fcn\ISAZjmwkbLuUIrj8mFedCBkyz$)

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Job Posting: JC254834275

Posted On: Feb 05, 2024

Updated On: Mar 20, 2024

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