Director, Model Risk Governance
Company: Visa
Location: San Mateo
Posted on: May 8, 2024
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Job Description:
Company DescriptionVisa is a world leader in payments and
technology, with over 259 billion payments transactions flowing
safely between consumers, merchants, financial institutions, and
government entities in more than 200 countries and territories each
year. Our mission is to connect the world through the most
innovative, convenient, reliable, and secure payments network,
enabling individuals, businesses, and economies to thrive while
driven by a common purpose - to uplift everyone, everywhere by
being the best way to pay and be paid.Make an impact with a
purpose-driven industry leader. Join us today and experience Life
at Visa.Job DescriptionResponsibilities:The Director, AML and
Sanctions Model Risk Governance will be responsible developing and
enhancing Visa's global AML and Sanctions model standards,
methodologies, procedures, governance, tuning and validation
activities to strengthen and unify AML & Sanctions model risk
practices across all entities. You will function as an integral
member of the global AML and Sanctions organization and be
responsible for all aspects of the AML and Sanctions model risk
program. The successful candidate will lead efforts across Visa
entities to ensure that AML and Sanctions models are appropriately
designed, implemented, and managed including but not limited to
conceptual soundness, model implementation and use, model
documentation, model performance monitoring, governance, tuning and
optimization.Additionally, you will:The Director of Model Risk
Governance plays a crucial role in promoting risk excellence
culture, partnering with stakeholders in ensuring the robustness of
Model Risk Management frameworkLead efforts to develop and maintain
model governance documentation and performance monitoring,
including periodically presenting results to AML and Sanctions
LeadershipOversees model risk management across the entire model
life cycle - development, validation, implementation and
retirement, ensuring that adequate controls are in place to manage
model riskCollaborate with internal stakeholders across business
units and regulated entities to enhance alignment in implementing
MRM policy/standards and promote MRM best practicesManage the model
inventory and annual attestation process to ensure its completeness
and accuracy. Work with key stakeholders across regulated entities
to enhance the oversight and control of the adherence to the MRM
standardsAssist with ongoing KRI review of model output to identify
model drift/breaches and ensure appropriate periodic or event-based
tuning, with focus on both efficiencies and effectivenessManage the
model finding inventory while engaging stakeholders to ensure
appropriate remediation actions are executed in a timely and
effective mannerAct as a strategic partner for initiatives and
changes across Visa entities, including working with business,
compliance or technology partners to understand requirements and
provide solutions while ensuring appropriate risk mitigationEnsure
appropriate documentation in model development, tuning, and
appropriate independent validation coverage and documentation of
independent reviewDirect and maintain tuning schedules for
applicable models, including analyzing outputs, documenting
results, and presenting recommended changes along with impact
analysis to AML and Sanctions leadershipAct as the global
point-of-contact for Visa Model Risk Management and responding to
MRM and regulatory exam inquiries, including representing Visa's
global approach and execution, facilitating walkthroughs and
requisition of document/data requests, actively engaging in status
meetings, and providing updates to AML and Sanctions leadership as
well as the MRM working groupBuild relationships across Visa model
owners, data scientists, Model Risk Management, Audit, and
third-party vendors.Use subject matter expertise and analytics to
proactively identify and address gaps, and identify emerging
risksLead remediation efforts for model-related issues identified
through exams, audits, and model validationsThis is a hybrid
position. Hybrid employees can alternate time between both remote
and office. Employees in hybrid roles are expected to work from the
office 2-3 set days a week (determined by leadership/site), with a
general guidepost of being in the office 50% or more of the time
based on business needs.QualificationsBasic Qualifications - 10 or
more years of work experience with a Bachelor's Degree or at least
8 years of work experience with an Advanced Degree (e.g. Masters/
MBA/JD/MD) or at least 3 years of work experience with a PhD - 8
years of implementing AML/ATF, Bank Secrecy Act (BSA), USA PATRIOT
Act, and Sanctions programs at a Bank FI or MSB, in the payments
industry a plus (but not essential)Preferred Qualifications - 12 or
more years of work experience with a Bachelor's Degree or 8-10
years of experience with an Advanced Degree (e.g. Masters, MBA, JD,
MD) or 6+ years of work experience with a PhD - 10+ years of
compliance or risk and control experience, preferably with a
financial institution, payments company, or other financial
services company - Bachelors or equivalent combination of education
and experience in statistics, mathematics, financial crime, data
analytics, forensic accounting, computer sciences or related
fields. - Deep experience designing and implementing AML and
Sanctions compliance model programs with a banking institution or
professional services firm. - Experience with managing and meeting
federal regulatory model risk supervision exams and expectations. -
Knowledge of statistical and machine learning models (e.g.,
logistic regression, time series analysis, random forests, SVMs,
XGBoost, CNNs/RNNs) - Experience with and knowledge of AML and
Screening technology and systems - Experience managing system
configurations and performance output of AML and Screening
technologies. - Strong understanding of relevant BSA/AML and
sanctions requirements and industry best practices, related
industry certifications a plus - Ability to effectively collaborate
and influence to lead cross-functional teamsAdditional
InformationWork Hours: Varies upon the needs of the
department.Travel Requirements: This position requires travel
-5-10% of the time.Mental/Physical Requirements: This position will
be performed in an office setting. - The position will require the
incumbent to sit and stand at a desk, communicate in person and by
telephone, frequently operate standard office equipment, such as
telephones and computers.Visa is an EEO Employer. - Qualified
applicants will receive consideration for employment without regard
to race, color, religion, sex, national origin, sexual orientation,
gender identity, disability or protected veteran status. - Visa
will also consider for employment qualified applicants with
criminal histories in a manner consistent with EEOC guidelines and
applicable local law.Visa will consider for employment qualified
applicants with criminal histories in a manner consistent with
applicable local law, including the requirements of Article 49 of
the San Francisco Police Code.U.S. APPLICANTS ONLY: The estimated
salary range for a new hire into this position is 146,900.00 to
191,000.00 USD per year, which may include potential sales
incentive payments (if applicable). Salary may vary depending on
job-related factors which may include knowledge, skills,
experience, and location. In addition, this position may be
eligible for bonus and equity. Visa has a comprehensive benefits
package for which this position may be eligible that includes
Medical, Dental, Vision, 401 (k), FSA/HSA, Life Insurance, Paid
Time Off, and Wellness Program.SummaryType: Full-timeFunction:
LegalExperience level: DirectorIndustry: Information Technology And
Services
Keywords: Visa, South San Francisco , Director, Model Risk Governance, Executive , San Mateo, California
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