Model Validation Sr. Lead

Position Overview

The Model Validation Sr. Lead plays a pivotal role in safeguarding the integrity of the Bank’s quantitative and qualitative models by providing independent validation and ensuring compliance with both internal policies and stringent regulatory standards. This senior leadership position is responsible for directing a high-performing team to assess model robustness, mitigate risks, and uphold best practices in model risk management. The role demands a strategic approach to policy development, regulatory liaison, and methodological innovation, while fostering a culture of excellence and accountability within the validation framework.

Key Responsibilities

Model Validation Policy & Framework Development

The Model Validation Sr. Lead is tasked with designing, refining, and maintaining the Bank’s Model Validation Policy, Standards, and procedures. This includes ensuring alignment with internal risk appetites and external regulatory requirements, such as SR26-2 and SS1/23. The role involves establishing and enforcing comprehensive guidelines, templates, and quality assurance mechanisms—such as peer reviews, thematic assessments, and consistency checks—to embed high-quality validation practices across the enterprise.

Independent Model Oversight & Regulatory Engagement

As the primary steward of the Bank’s model validation framework, this leader sets the enterprise-wide direction for end-to-end model validation, ensuring all quantitative and qualitative models—including risk management, investment, fraud, compliance, finance, HR, and emerging technologies like Gen AI and Agentic systems—operate as intended. The role serves as the key liaison for internal audits and external regulatory exams, articulating validation rationales, modeling assumptions, and risk implications with clarity and confidence to supervisory authorities and senior stakeholders.

Leadership & Team Management

The Model Validation Sr. Lead leads a multidisciplinary team of validation professionals, responsible for validating a diverse portfolio of models. This includes developing and mentoring talent to enhance technical capabilities, fostering a collaborative environment, and ensuring the delivery of robust, well-supported validation conclusions. The role also involves serving as the Secretary of the Bank’s Risk Analytics Working Group, facilitating the submission of model validation reports to the appropriate Risk Management Committee for approval.

Methodology & Practice Leadership

This position defines, maintains, and continually enhances the methodologies and testing approaches used in model validation. The leader ensures comprehensive assessments of conceptual soundness, developmental evidence, performance, data integrity, implementation accuracy, and other critical validation criteria. Additionally, the role drives the evolution of validation techniques to address emerging modeling approaches, including LLM-enabled and agentic systems, ensuring the Bank remains at the forefront of industry best practices.

Technical Proficiency & Communication

The Model Validation Sr. Lead must possess extensive experience with a broad range of model types, including Machine Learning and LLM-based models, alongside a strong understanding of model risk management principles and regulatory frameworks. Proficiency in programming languages and analytical tools such as Python, SAS, R, or C++ is essential, as is familiarity with emerging technologies, AI governance, and modern validation practices. The ability to translate complex technical concepts into clear, actionable insights for senior executives and regulatory bodies is critical. Strong analytical and problem-solving skills, coupled with excellent written and verbal communication abilities, are required to navigate complex challenges and present findings effectively to diverse audiences.

Organizational & Strategic Skills

The role demands exceptional organizational skills to manage multiple priorities under tight deadlines, coupled with a proactive and self-directed approach to work independently or collaboratively within a team. The Model Validation Sr. Lead must demonstrate the ability to drive results, influence stakeholders, and maintain a high standard of excellence in all validation activities.

Qualifications & Experience

Candidates for this role must meet the minimum qualifications, which include a strong academic background in a quantitative field such as mathematics, statistics, finance, or engineering, along with extensive experience in model validation, risk management, or a related discipline. Professional certifications, such as FRM, PRM, or CFA, are advantageous. The ideal candidate will have a proven track record of engaging with regulators and internal audit teams, as well as experience leading high-performing validation teams in a dynamic financial services environment.