Fraud Model Management Lead at USAA

Why USAA?

Let’s do something that really matters.

At USAA, we have an important mission: facilitating the financial security of millions of U.S. military members and their families. Not all our employees served in our nation’s military, but we all share in the mission to give back to those who did. We’re working as one to build a great experience and make a real impact for our members.

We believe in our core values of honesty, integrity, loyalty, and service. They’re what guides everything we do – from how we treat our members to how we treat each other. Come be a part of what makes us so special!

As a dedicated Lead Model Validator, you will implement model risk validation oversight for the life-cycle management of models for high risk and highly sophisticated models. Performs the model validation oversight process aligned with the written risk and compliance policies and procedures which require independence from model stewards (e.g., model owners, developers, implementers, users, and other partners) throughout the lifecycle of the model’s use and maintenance.

We offer a flexible work environment that requires an individual to be in the office 4 days per week. This position can be based in one of the following locations: San Antonio, TX, Plano, TX, Phoenix, AZ, Colorado Springs, CO, Charlotte, NC, Chesapeake, VA or Tampa, FL.

Relocation assistance is not available for this position.

This position can work remotely in the continental U.S. with occasional business travel.

The Opportunity

The Fraud Model Management Lead will be a senior team member, working with other staff and their Director to implement first-line model management activities on a portfolio of fraud and financial crimes models, while closely partnering with Bank Financial Crimes leadership, Enterprise Model Risk Management (MRM), Legal, Compliance, Technology, Model Users, and other partners. Strong candidates will be able to deploy the following work products and processes:

• Production of sophisticated technical model development documentation and conduct ongoing monitoring to coordinate with model partners on any performance changes
• Track the value and health of models with regard to loss mitigation and improvement to expense and Member experience, and use this information to prioritize deployment, retirement, upgrades and other improvements to models
• Meeting with MRM validators and other partners to facilitate completion of MRM validation work and deliver key insights to model users on performance/strengths/weaknesses of scors
• Partnering with Director to ensure accuracy, completeness, and consistency of metrics in ongoing monitoring
• Support ML Ops as needed (implementation testing and testing processes, change logs and other critical functions)
• Works with vendors to understand model plans; provides meticulous effective challenge to vendors
• Coordinate with ML Ops function to stay abreast of post-model implementation testing, model change logs, tracking of issues that result in performance changes, awareness of upcoming projects and programs that can affect models, as well as project managing new model initiatives
• Peer-reviews model documentation produced by other team members

What you’ll do:

• Coordinates and conducts independent model validation control activities for high visibility, critical and/or specialized models.
• Apply expert business and technical model and model validation knowledge to conduct highly specialized validation activities for models that leverage groundbreaking techniques that require specialized credentials, and models that have higher enterprise visibility and risk.
• Leverages specialized technical approaches to develop, implement, and complete validation testing plans for models that require expert model validation knowledge and skills.
• Leads the team in developing challenger models and/or replicating model development through predictive modeling, machine learning, deep learning, time-series modeling/forecasting, stress testing, heuristic models, actuarial models, simulation, optimization, and/or other techniques including models that require specialized skills.
• Develops plans, reviews peers’ plans and provides feedback on model tests and data quality assessments for models using various types of datasets including those demonstrating large datasets and unstructured datasets.
• Reviews at a subject matter expert level the end-to-end life-cycle management of model development, implementation, ongoing monitoring, and use in areas of Banking and Insurance (Property & Casualty and Life) along with their corresponding business support functions and operational processes.
• Responsible for assessing model inherent risk ratings, model declassifications applications, materiality of model changes, and other reviews of models as part of model validation-related governance processes.
• Produces and delivers validation reports and related validation work to model validation management, model partners, senior leadership, and others for high visibility, critical and/or specialized models.
• Provides review of validation work produced by peers in preparation of report issuance.
• Reports validation results and model risk trends/metrics to EMRM leadership.
• Performs the independent model validation process aligned with the written risk and compliance policies and procedures at a subject matter expert level.
• Evaluates model risk control strengths around model development, implementation, and use as it pertains to elements of model conceptual soundness, modeling methodology, model limitations, data quality, ongoing monitoring, and other more sophisticated elements of the model validation process.
• Interacts with internal and external peers for awareness and applicability of groundbreaking techniques, technologies, and potential business solutions while continuing to professionally develop and knowledge share emerging modeling techniques and approaches.

What you have:

• Bachelor’s degree in a quantitative field, such as Economics, Mathematics, Statistics, Actuarial Science, Data Science, Engineering, Computer Science, or a Related Field with Core Quantitative Curriculum. Four additional years of related experience beyond the minimum required may be substituted in lieu of a degree.
• 8 years of related work experience in model validation, model development, statistical analysis, and/or sophisticated quantitative research
• Strong experience communicating complex quantitative/technical concepts and conclusions to senior leadership, auditors, and/or regulators.
• Strong programming skills in R, Python, SAS, Java, C, SQL, and/or other comparable programming languages for the iterative methodological tenants of model and algorithm development including setting model specifications, assumption testing, data quality assessments, variable selection, back-testing, benchmarking, and other robust model testing. Subject Matter Depth and Breadth with at least four of the following statistical, econometric, data science, and predictive modeling approaches: Unsupervised Learning; K-Means; Linear Regression; Time-Series/Forecasting; Stress Testing; Logistic Regression; Gaussian Process; Simulation Models; Boosting/Bagging Trees; Neural Networks; Deep Learning Concepts; Bayesian Estimators.
• Strong business context knowledge in operational and support functions of Banking and/or Insurance as well as associated modeling and analytics knowledge.
• Business and industry skill in modeling governance techniques and approaches.
• Experience sharing modeling governance technical expertise and mentorship with peers.

What sets you apart:

• US military experience through military service or a military spouse/domestic partner
• Graduate degree in a quantitative subject area
• Over 6 years of experience with model validation, particularly within a regulated industry and working in MRM or a similar function
• Experience in model development and validation specifically in the fraud/financial crimes domain
• Experience partnering with vendors to understand their model offerings, update plans and development roadmaps

The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.

What we offer:

Compensation: USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market data of the position. The actual salary for this role may vary by location. The salary range for this position is: $158,960 – $286,130.

Employees may be eligible for pay incentives based on overall corporate and individual performance and at the discretion of the USAA Board of Directors.

Benefits: At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.

For more details on our outstanding benefits, please visit our benefits page on USAAjobs.com.

Applications for this position are accepted on an ongoing basis, this posting will remain open until the position is filled. Thus, interested candidates are encouraged to apply the same day they view this posting.

USAA is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.