Manager, Model Risk

Sallie Mae; Virginia; On-site; USD 110,000 - 160,000; Full time

Benefits offered by this job

Bonus incentives

Generous PTO & holidays

401k with employer match

Education support

Job summary

Sallie Mae is seeking a Manager of Model Risk in the United States (Virginia). You will lead a team, implement risk frameworks, validate financial models, and report to senior management. The role requires strong quantitative skills and practical regulatory knowledge.

You will collaborate with cross-functional teams to ensure models meet business objectives and comply with standards. A track record in model risk and leadership is essential for success.

Qualifications

• Strong knowledge of quantitative analysis, statistical techniques, and risk assessment methodologies.
• Familiarity with regulatory requirements and ability to interpret and implement them.
• Proficiency in Python or R and experience with statistical packages.
• Excellent analytical and communication skills with leadership capability.

Responsibilities

• Manage a Model Risk team or provide guidance to team members.
• Implement a comprehensive model risk framework, policies, and procedures.
• Oversee validation and testing of financial models including development, data analysis, calibration, and documentation.
• Assess effectiveness and limitations of existing models and identify improvements.
• Collaborate with cross functional teams to align models with business objectives.
• Conduct model governance, validation, and ongoing monitoring to mitigate risks.
• Prepare and present model risk reports to senior management and regulators.

Skills

Quantitative analysis

Statistical techniques

Risk assessment

Python

R

Regulatory interpretation

Leadership

Communication

Education

Bachelor's degree in finance, mathematics, statistics, economics, or related field

5+ years in model risk / financial modeling

Tools

Python

R

Job description

When you join Sallie Mae, you become a champion for all students.

We're on a mission to power confidence as students begin their unique journey. To help them plan their higher education, successfully finish, and prepare for life after school. To help them Start smart. Learn big.

Students need guidance navigating this important time in their life. They need someone who acknowledges that their education path is unique. They need a partner willing to evolve and not only meet but surpass their expectations. We're changing. Because students need a better way.

We're looking for people who are excited to drive this transformation. To break barriers and think of new ways to adapt, help, and create better experiences for students-and for each other.

This is where diverse backgrounds, beliefs, and perspectives matter. It's where you're empowered to bring your authentic self to work.

Feeling your best allows you to do your best. Our benefits take care of the whole you-from physical and mental to financial and professional. You'll get opportunities to further your education and career, support for you and your family (including your pets!), paid time off to volunteer for the things that matter to you, and more.

We're obsessed with impact and making a real difference. For us, that means putting relationships first, asking 'why not?' when tackling challenges, and continuously learning new skills.

Come do more than join something, change something. For students, for future generations, for the future of education.

What You'll Contribute

The Manager, Model Risk will be responsible for ensuring the accuracy, integrity, and compliance of our organization's financial models and risk assessment tools.

What You'll Do

• May manage a Model Risk team and provide guidance, support, and mentorship to team members.
• Implement a comprehensive model risk management framework, policies, and procedures to ensure compliance with regulatory requirements and industry best practices.
• Oversee the validation and testing of financial models, including model development, data analysis, calibration, and documentation.
• Assess and evaluate the effectiveness and limitations of existing models and identify areas for improvement.
• Collaborate with cross-functional teams to understand business needs and requirements and ensure that models align with organizational objectives.
• Conduct periodic model risk assessments, including model governance, validation, and ongoing monitoring, to identify and mitigate potential risks.
• Prepare and present reports on model risk to senior management and regulatory bodies.

The above information is intended to describe the general nature and level of work performed by employees assigned to this job; it is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees in this role.

What you have

Minimum: Indicate minimum education, skills and experience required.

• Strong knowledge of quantitative analysis, statistical techniques, and risk assessment methodologies.
• Familiarity with regulatory requirements and the ability to interpret and implement them.
• Proficiency in programming languages such as Python or R, along with experience working with statistical packages.
• Excellent analytical and problem-solving skills, with the ability to evaluate complex financial models and identify potential risks.
• Strong leadership and team management abilities, with a track record of effectively leading and developing teams.
• Exceptional written and verbal communication skills, with the ability to present complex information in a clear and concise manner.

Preferred

Indicate 'nice to haves' regarding education, skills, and experience.

• Bachelor's degree in finance, mathematics, statistics, economics, or a related field.
• 5 years of experience in model risk management, financial modeling, or a related field within the financial services industry.

The Americans with Disabilities Act

The Americans with Disabilities Act of 1990 (ADA) prohibits discrimination by employers, in compensation and employment opportunities, against qualified individuals with disabilities who, with or without reasonable accommodation, can perform the "essential functions" of a job. A function may be essential for any of several reasons, including: the job exists to perform that function, the employee holding the job was hired for his/her expertise in performing the function, or only a limited number of employees are available to perform that function.

Feeling your best helps you do your best:

Our benefits take care of the whole you-so you can build your work around your life (not the other way around!).

• Competitive base salaries
• Bonus incentives
• Generous PTO, Floating Holidays and 12 Federal Holidays observed
• Support for financial-well-being and retirement 401k with employer match
• Comprehe