Principal Model Validation Lead (open to remote)

Published date Posted on Indeed on Jul 03, 2021 (76 d ago)

At American Family Insurance, we believe people are an organization’s most valuable asset, and their ideas and experiences matter. From our CEO to our agency force, we’re committed to growing a diverse and inclusive culture that empowers innovation that will inspire, protect, and restore our customers’ dreams in ways never imagined.


American Family Insurance is driven by our customers and employees. That’s why we provide more than just a job – we provide opportunity. Whether you’re already part of our team in search of a new challenge or new to our company and ready for what’s next, you’re in the right place. Every dream is a journey that starts with a single step. Start your journey right here. Join our team. Bring your dreams.

Job ID:

R22954 Principal Model Validation Lead (open to remote) (Open)

Compensation may vary based on the job level and your geographic work location.

Compensation Minimum:$101,500

Compensation Maximum:$162,500

Summary:

Insurance works with large amounts of data and artificial intelligence (AI)/machine learning (ML) is being applied to multiple aspects of insurance practice. The use of AI/ML models to make business decisions poses inherent risk to the American Family Insurance Enterprise, spanning the risk universe to include model risk, compliance risk, reputational risk, third party risk and implementation risk. Besides AI/ML models, there are other model types widely being used across the enterprise, such as capital models, financial models, and investment models etc. It is the role of the Model Risk Management (MRM) within the Enterprise Risk Management Division to identify and measure these inherent risks and ensure that proper controls are in place to mitigate such risks from using various models.

The Model Validation Team is seeking a principal model validation lead to join the team to start the challenge quickly and effectively to the 1st line of defense, i.e., model owners, developers, and users. The position will focus primarily on validations of models built in house and by third parties with various modeling methodologies, including AI/ML techniques. The successful candidate is expected to be self-motivated, require minimal supervision, and complete work that is consistent with high standards. Effective validation work will involve familiarity with data extraction, data treatment, data sampling, model replication, model performance assessment, benchmark model building, and comprehensive model validation documentation.


Job Description:

Primary Accountabilities

  • Perform effective and efficient model validations on model conceptual soundness, data quality, model methodology, assumptions and limitations, outcomes analysis, model implementation, model use, and model performance monitoring etc.
  • Take responsibility for the quality delivery of model validation reports.
  • Timely and effectively communicate model validation results to model stakeholders and management.
  • Manage model validation findings to ensure risk mitigation and remediation.
  • Work with the model validation head to evolve and enhance the model validation framework and build coding libraries.
  • Research advanced or emerging new techniques or technologies for modeling and evolving regulatory guidance or requirements.
  • Coach junior level model validation analysts on business knowledge, validation procedures and modeling techniques.

Specialized Knowledge and Skills Requirements

  • Demonstrated experience providing customer-driven solutions, support or service.
  • Ability to work as part of a team and to communicate effectively.
  • Proficiency in programming languages suitable for database access, scripting, statistical analysis, and system development. Understanding of software development best practices including source control, coding standards and testing frameworks.
  • Demonstrated experience formulating, approaching, and solving complex analytical problems using a quantitative, scientific approach.
  • Demonstrated experience working with large, complex datasets using big data technologies and script.
  • Solid knowledge and understanding managing data to scale using data summarization, query and analysis software and tools.

Travel Requirements

  • This position requires travel up to 10% of the time.

Education and Licenses

  • Preferred: Bachelor’s Degree in Mathematics, Statistics, Physics, Computer Sciences or Engineering, or related field or equivalent experience.

Additional Job Information:

Preferred candidates will have:

  • An advanced degree (i.e. PhD) in statistics, mathematics, physics, engineering, computer science, data science or related field, or an ACAS/FCAS designation.

  • At least 6 to 8 years of related work experience in modelling and/or validation of models, the business, and the associated regulations.

  • AI/ML model development and/or validation experience is a big plus.

  • Abundant experience in coaching others from modeling, risk management, and business perspectives.

  • Strong programming skills are needed with Python, R, SQL, or SAS and with large datasets.

Offer to selected candidate will be made contingent on the results of applicable background checks.

Offer to selected candidate is contingent on signing a non-disclosure agreement for proprietary information, trade secrets, and inventions.

We are open to hiring candidates to work remotely (anywhere in the USA). However, we are also open to candidates who will relocate to our headquarters location of Madison, WI. Relocation assistance may be available.

#LI-Remote

When you work at American Family you can expect benefits that support your physical, emotional, and financial wellbeing. You will have access to comprehensive medical, dental, vision and wellbeing benefits that enable you to take care of your health. We also offer a competitive 401(k) contribution, a pension plan, an annual incentive, and a paid-time off program. In addition, our student loan repayment program and paid-family leave are available to support our employees and their families. Interns and contingent workers are not eligible for American Family Enterprise benefits.

We also consider qualified applicants with criminal histories, consistent with applicable federal, state and local law.

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