Model Validation

Vanguard; Malvern (Chester County); Hybrid; USD 120,000 - 180,000; Full time

Job summary

Vanguard is seeking a quantitative model risk professional to provide independent oversight of models used across the Investment Management Group. You will validate alpha/signal, portfolio construction, risk, trading, and AI/ML-enabled workflows, challenging model assumptions and documenting findings.

The role involves developing and evolving validation methodologies and collaborating with researchers, data scientists, portfolio managers, developers, and risk partners.

Qualifications

• Master's or PhD in a quantitative discipline (Statistics, Mathematics, CS, Engineering, Physics, Finance, Data Science) or equivalent experience.
• 3+ years in model development, quantitative research, validation, or risk management; 7+ years preferred.
• Experience in asset management, investment research, or financial services.
• Strong knowledge in equities, fixed income, portfolio construction, alpha/signal research, risk modeling, ML/AI.

Responsibilities

• Perform independent validation of investment models across major asset classes.
• Provide effective challenge of model assumptions, data, methods, controls, and monitoring frameworks.
• Produce high-quality validation reports and communicate findings to technical and non-technical stakeholders.
• Develop validation methodologies and testing approaches for consistent model oversight.
• Contribute to model risk management policies, standards, and procedures across the lifecycle.
• Advise on governance, validation expectations, and industry practices.
• Stay current on quantitative investing, ML/AI, and governance.

Skills

Python

AI/ML

Model validation

Portfolio construction

Communication

Education

Master's or PhD in quantitative field

Tools

Barra

Axioma

Aladdin

Job description

Overview

The Model Risk Management (MRM) Team, part of Vanguard's second line of defense, is seeking a quantitative model risk professional to support the independent oversight of models used across Vanguard's Investment Management Group (IMG).

Overview

The Model Risk Management (MRM) Team, part of Vanguard's second line of defense, is seeking a quantitative model risk professional to support the independent oversight of models used across Vanguard's Investment Management Group (IMG). Vanguard is a global investment management firm with a mission to give investors the best chance for investment success. Through IMG, Vanguard designs, manages, and oversees active and passive investment strategies across asset classes, investment vehicles, and geographies. These activities rely on a broad range of quantitative models, including alpha and signal models, portfolio construction and optimization models, risk models, trading models, asset allocation models, and AI/ML-enabled investment workflows. In this role, you will perform independent validation and effective challenge of investment models, helping ensure that models are conceptually sound, appropriately governed, and fit for purpose. You will work closely with quantitative researchers, data scientists, portfolio managers, model developers, and technology partners, providing credible challenge while building strong collaborative relationships across the business. Beyond individual model reviews, you will contribute to the continued evolution of Vanguard's model risk management framework, methodologies, standards, and practices across both traditional quantitative models and AI/ML-driven solutions.

Core Responsibilities

• Perform independent validation of investment models across major asset classes, including alpha/signal models, portfolio construction and optimization models, risk models, trading models, asset allocation models, and AI/ML-enabled investment workflows.
• Provide effective challenge of model assumptions, methodologies, data, implementation, controls, limitations, and performance monitoring frameworks.
• Produce high-quality validation reports and communicate findings clearly to both technical and non-technical stakeholders.
• Develop and enhance validation methodologies, procedures, and testing approaches to support consistent and risk-based model oversight.
• Contribute to the design and enhancement of model risk management policies, standards, and procedures across the model lifecycle.
• Advise stakeholders on model risk governance, validation expectations, and emerging industry practices.
• Remain current on developments in quantitative investing, model validation, AI/ML, and model governance.
• Partner effectively across investment, technology, risk, and control functions.
• Participate in special projects and broader MRM initiatives as needed.

Qualifications

• Master's or PhD degree in a quantitative discipline such as Statistics, Mathematics, Computer Science, Engineering, Physics, Finance, Data Science, or a related field (or equivalent combination of education and relevant experience).
• 3+ years of relevant experience, ideally 7+ years, in model development, quantitative research, model validation, model risk management, or a related field.
• Experience in asset management, investment research, quantitative investing, or financial services.
• Strong knowledge in one or more areas such as:
  • Equities
  • Fixed Income
  • Portfolio Construction & Optimization
  • Alpha/Signal Research
  • Risk Modeling
  • Machine Learning and AI Applications
• Experience developing, testing, reviewing, or validating quantitative and/or AI/ML models.
• Programming experience in Python and/or similar analytical languages.
• Familiarity with cloud, MLOps, CI/CD, or modern model development environments is preferred.
• Familiarity with third-party investment and risk platforms (e.g., Barra, Axioma, Aladdin) is a plus.
• Strong analytical, communication, and stakeholder management skills.
• Demonstrated intellectual curiosity, sound judgment, and willingness to learn and evolve in a rapidly changing environment.
• Prior people leadership experience is a plus but not required.

Special Factors

Sponsorship

Vanguard is offering visa sponsorship for this position.

About Vanguard

At Vanguard, we don't just have a mission—we're 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.