Job Information
Vanguard Model Validation Specialist in Malvern, Pennsylvania
Enterprise Model Governance is seeking an experienced model risk professional to join our team.
This is an individual contributor role within the Second Line of Defense supporting the model risk management function. You will perform independent validation of machine learning (ML) models used within various lines of business. In this role you be working with data scientists, ML engineers, product owners and business stakeholders, partner with Risk and Control colleagues to shape programs and initiatives at the enterprise level that enable consistent use of model risk management best practices across all models used at Vanguard including various types of AI/ML models.
Responsibilities include providing expertise in model risk management and supporting the advancement of model governance standards, policies and procedures (inventory, development, independent review, and monitoring).
Particular focus areas for this position will be developing approaches to ensure the robust independent review and challenge of models with a focus on Natural Language Processing (NLP) models.
You will have a solid background in developing or validating models including AI/ML models. You will have good knowledge and experience of the model development lifecycle, the technology landscape for model development (AWS SageMaker or similar platforms) and familiarity with the AI observability and model performance monitoring tools. An appreciation of regulatory expectations for model risk management is desirable.
Core Responsibilities
Drives second line model risk activities with a focus on independent validation of models with a focus on NLP models
Produces high quality validation reports that meets internal standards and meets Internal Audit’s and regulatory expectations
Helps develop, maintain and enhance a consistent, risk-based approach for independent validation and effective challenge of models
Helps develop model risk policies and standards
Provides expertise on Model Policy and standards, and supports the execution of model governance strategy across the enterprise including advising stakeholders on Model risk policy, standards, and risk assessment
Leads the maintenance of policies and standards through the entire lifecycle including coordination with key stakeholders and formal management review and approval
Collaborates with other team members and enterprise and divisional partners to ensure the proper alignment to Vanguard's operational and strategic risk policies and framework. Advises and prepares reports on risk, control, and governance related topics
Proactively identifies, evaluates, and recommends improvements to strengthen model risk management and enhance risk identification and oversight
Maintains understanding of industry trends in model validation and provide updates to stakeholder teams to enhance the knowledge and awareness or best practices
Participates in special projects and performs 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 5 years of related information technology and/or Data Science experience
Broad knowledge of relevant modeling frameworks and standards is required
Strong knowledge of AI/ML modeling including NLP models and hands on experience developing models is a must
Excellent communication, negotiation, diplomacy, and presentation skills is a must
Broad knowledge of risk management at financial institutions preferred
Experience validating third party models preferred
Experience developing, testing or validating Generative AI models is a plus
Previous experience in model risk management (model validation) is a plus
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 one’s own priorities and time
Exhibits flexibility and excellent judgment.
Special Factors
Sponsorship
Vanguard is offering visa sponsorship for this position.
About Vanguard
We are Vanguard. Together, we’re changing the way the world invests.
For us, investing doesn’t just end in value. It starts with values. Because when you invest with courage, when you invest with clarity, and when you invest with care, you can get so much more in return. We invest with purpose – and that’s how we’ve become a global market leader. Here, we grow by doing the right thing for the people we serve. And so can you.
We want to make success accessible to everyone. This is our opportunity. Let’s make it count.
Inclusion Statement
Vanguard’s continued commitment to diversity and inclusion is firmly rooted in our culture. Every decision we make to best serve our clients, crew (internally employees are referred to as crew), and communities is guided by one simple statement: “Do the right thing.”
We believe that a critical aspect of doing the right thing requires building diverse, inclusive, and highly effective teams of individuals who are as unique as the clients they serve. We empower our crew to contribute their distinct strengths to achieving Vanguard’s core purpose through our values.
When all crew members feel valued and included, our ability to collaborate and innovate is amplified, and we are united in delivering on Vanguard's core purpose.
Our core purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success.
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.
Vanguard, one of the world's largest investment management companies, serves individual investors, institutions, employer-sponsored retirement plans, and financial professionals. We have a diverse and talented crew with a culture that promotes teamwork, along with an unwavering focus on serving our clients' best interests.
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