Model Validator

Malvern, PA - USA

Monthly Salary: Not Disclosed

Posted on: 23 hours ago

Vacancies: 1 Vacancy

Job Summary

The Model Risk Management (MRM) Team part of Vanguards second line of defense is seeking an experienced model risk professional to support independent oversight of quantitative models used across Vanguards Investment Management Group (IMG).

Vanguard is a global investment management firm with a mission to give investors the best chance for investment success. Through its Investment Management Group Vanguard designs manages and oversees a broad range of active and passive investment strategies across asset classes vehicles and geographies supporting mutual funds ETFs and institutional mandates. These activities rely on quantitative models spanning portfolio construction risk management trading asset allocation and performance measurement including an increasing use of advanced analytics and machine learning techniques.

In this role you will lead the independent validation and challenge of models used within IMG ensuring they are conceptually sound wellgoverned and fit for purpose. You will work closely with data scientists quantitative developers investment strategists and technology partners providing credible challenge while maintaining strong collaborative relationships with the business.

Beyond individual model reviews you will help drive the evolution of Vanguards model risk management framework shaping methodologies standards and practices that support consistent enterprisewide application of model risk principles across traditional quantitative models and AI/MLbased solutions. You will also partner with Risk and Control colleagues to influence broader programs and initiatives that strengthen model governance across Vanguard.

This role includes people leadership responsibilities with accountability for developing and managing a team of model validation professionals.

Core Responsibilities

Perform and lead independent validation of investment models across major asset classes covering portfolio construction signaling risk management trading asset allocation and performance measurement
Provide effective challenge of model assumptions methodologies data implementation and limitations with a focus on material risk drivers.
Produce high quality validation reports that meet internal standards
communicate validation findings clearly to technical and nontechnical stakeholders including senior investment and risk leaders
Develop maintain and enhance validation procedures to support a consistent risk-based approach for independent validation and effective challenge of investment management models
Contribute to the design and enhancement of model risk management policies standards and procedures across the full model lifecycle (inventory development validation approval and ongoing monitoring).
Support the MRM team in advising stakeholders on Model Risk policy and other relevant standards as needed
Maintain understanding of industry trends in model validation and provide updates to stakeholder teams to enhance the knowledge and awareness or best practices and act as an SME
Participate in special projects and perform other duties as assigned

Qualifications

PhD degree in a quantitative discipline such as Computer Science Mathematics Statistics Physics Engineering or an equivalent combination of training and experience
Minimum of 7 years of relevant experience in model development or model validation
Broad knowledge of relevant modeling frameworks and standards is required
Strong knowledge of financial products across at least one of the asset classes: equities fixed income etc.
Experience in the asset management business (sell side or buy side) is required.
Familiarity with risk models (counterparty liquidity internal capital market risk) is a plus
Knowledge of programming languages including Python and MATLAB
Knowledge of technology platforms such as AWS SageMaker used for model development and deployment CI/CD is a requirement
Experience developing testing or validating AI/ML models is a plus
Excellent communication negotiation diplomacy and presentation skills is a must
Broad knowledge of risk management at financial institutions preferred
Experience validating third party models and familiarity with third party models and platforms used in asset management (e.g. Aladdin Axioma Barra etc.) preferred
Ability to deal effectively with a variety of stakeholder teams
Ability to effectively manage multiple and competing priorities of the team and department as well as ones own priorities and time
Exhibits flexibility and excellentjudgment

Special Factors

Sponsorship

Vanguard is offering visa sponsorship for this position.

About Vanguard

At Vanguard we dont just have a missionwere on a mission.

To work for the long-term financial wellbeing of our clients. To lead through product and services that transform our clients lives. To learn and develop our skills as individuals and as a team. From Malvern to Melbourne our mission drives us forward and inspires us to be our best.

How We Work

Vanguard has implemented a hybrid working model for the majority of our crew members designed to capture the benefits of enhanced flexibility while enabling in-person learning collaboration and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.

This role includes people leadership responsibilities with accountability for developing and managing a team of model validation professionals.

Core Responsibilities

Perform and lead independent validation of investment models across major asset classes covering portfolio construction signaling risk management trading asset allocation and performance measurement
Provide effective challenge of model assumptions methodologies data implementation and limitations with a focus on material risk drivers.
Produce high quality validation reports that meet internal standards
communicate validation findings clearly to technical and nontechnical stakeholders including senior investment and risk leaders
Develop maintain and enhance validation procedures to support a consistent risk-based approach for independent validation and effective challenge of investment management models
Contribute to the design and enhancement of model risk management policies standards and procedures across the full model lifecycle (inventory development validation approval and ongoing monitoring).
Support the MRM team in advising stakeholders on Model Risk policy and other relevant standards as needed
Maintain understanding of industry trends in model validation and provide updates to stakeholder teams to enhance the knowledge and awareness or best practices and act as an SME
Participate in special projects and perform other duties as assigned

Qualifications

PhD degree in a quantitative discipline such as Computer Science Mathematics Statistics Physics Engineering or an equivalent combination of training and experience
Minimum of 7 years of relevant experience in model development or model validation
Broad knowledge of relevant modeling frameworks and standards is required
Strong knowledge of financial products across at least one of the asset classes: equities fixed income etc.
Experience in the asset management business (sell side or buy side) is required.
Familiarity with risk models (counterparty liquidity internal capital market risk) is a plus
Knowledge of programming languages including Python and MATLAB
Knowledge of technology platforms such as AWS SageMaker used for model development and deployment CI/CD is a requirement
Experience developing testing or validating AI/ML models is a plus
Excellent communication negotiation diplomacy and presentation skills is a must
Broad knowledge of risk management at financial institutions preferred
Experience validating third party models and familiarity with third party models and platforms used in asset management (e.g. Aladdin Axioma Barra etc.) preferred
Ability to deal effectively with a variety of stakeholder teams
Ability to effectively manage multiple and competing priorities of the team and department as well as ones own priorities and time
Exhibits flexibility and excellentjudgment