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:
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 rewarded 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 executing model validation and other risk management functions in areas such as loss forecasting, strategic and capital planning, including economic capital, acquisition and portfolio management models, marketing and fraud, for both card and non-card products, AML and other models that affect the company’s business, capital position and financial planning. Actively manages and escalates risk and customer-impacting issues within the day-to-day role to management.
Responsibilities:
+ Lead or perform independent model validations and effective challenge for models such as ML/AI models, balance sheet, anti-money laundering, revenue, expense, credit loss, economic capital, regulatory capital, treasury, interest rate, acquisition, macroeconomic models.
+ Produce standardized model validation documentation, analytical reports and presentations for senior management, executive committee members and regulators.
+ Proactively identify emerging model risk issues impacting the Company and communicate with managers and model developers.
+ Interpret model validation test results, establish required action plans, and provide value-added recommendations to model owners/developers.
+ Support interaction with relevant internal and external model stakeholders, including offshore resources, to demonstrate the operational soundness and effectiveness of the model validation process.
Minimum Qualifications
At a minimum, here is what we need from you:
+ Master’s degree in Statistics or Economics
+ 2+ years of experience in Model development, validation in a financial services industry, or related.
+ In Lieu of a degree 6+ years of Model development, validation in a financial services industry, or related including a bachelor’s degree.
Preferred Qualifications
If we had our say, we’d also look for:
+ PHD Degree in Economics or Statistics
+ 4+ years of experience in Model development, validation in a financial services industry, or related.
+ FRM, PRM
\#LI-RR
Application Deadline:
The application window for this position is anticipated to close on Jul-20-2024. We encourage you to apply as soon as possible. The posting may be available past this date, but it is not guaranteed.
Compensation:
The base pay for this position generally ranges between $75,500.00 to $127,900.00. 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.
Benefits:
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 mydiscoverbenefits.com .
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 & Pay Transparency Nondiscrimination Provision) (https://www.dol.gov/agencies/ofccp/posters)
Discover complies with federal, state, and local laws applicable to qualified individuals with disabilities and is committed to providing reasonable accommodations. If you require a reasonable accommodation to search for a position, to complete an application, and/or to participate in an interview, please email HireAccommodation@discover.com . Any information you provide regarding your accommodation needs will be kept confidential and will only be used to determine and provide necessary accommodation.
