Implements model risk validation oversight for the life-cycle management of models which includes conducing model validation activities. Drives the model validation oversight process follows 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. Implements independent model validation control activities for high risk in-house and vendor models. Leverages expert technical approaches to develop and complete validation testing plans. Replicates model development and may develop challenger models through predictive modeling, machine learning, deep learning, time-series modeling/forecasting, stress testing, heuristic models, actuarial models, simulation, optimization, and/or other highly specialized techniques. Conducts and develops plans for model testing and data quality assessments for models using various types of datasets including those demonstrating large datasets and unstructured datasets. Reviews at an extensive experience 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. Assesses model inherent risk ratings, model declassifications applications, the materiality of model changes, and conducts model change validations for all types models. Oversees and advises the model validation work of peers. Produces and delivers validation reports and related validation work to model validation management, model collaborators, senior leadership, and others. Implements the independent model validation process aligned with the written risk and compliance policies and procedures at an extensive experience level. Evaluates model risk control strengths around model development, implementation, and use. Professionally develops on emerging modeling techniques and approaches.
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