Head of Model Risk Management

2 weeks ago


Menlo Park, California, United States Robinhood Full time
Become a pivotal part of a forward-thinking fintech organization committed to financial inclusivity.

At Robinhood, our mission is rooted in the belief that financial markets should be accessible to everyone. We prioritize our customers in every decision we make, striving to lower barriers and enhance access to financial insights. Together, we are developing innovative products and services that empower all individuals to engage in the financial system.

As we progress...

We are on the lookout for inquisitive, growth-oriented professionals to help us refine our vision, frameworks, and processes; playing a crucial role as we embark on our ambitious journey. If you resonate with our mission, values, and commitment to making a difference - we encourage you to consider this opportunity.

About the team + role

The Enterprise Risk team at Robinhood supports the company's Audit and Risk Committees in safeguarding the organization’s assets, reputation, and sustainability. We provide independent, objective, and timely assurance regarding the effectiveness of governance, risk management, and internal controls that mitigate both current and emerging risks, thereby enhancing the internal controls ecosystem.

As the Director of Model Risk, you will oversee the identification and monitoring of risks associated with the models utilized at Robinhood, including the establishment of a model validation practice.
Key Responsibilities
  • Implement and operationalize the Enterprise-wide Model Risk Governance framework, collaborating with first-line model risk teams as necessary, while incorporating shared responsibilities at both the business and developer levels, as well as at the Enterprise level;
  • Design and execute model validation plans and methodologies, defining the scope and approach for validations while ensuring adherence to industry best practices and regulatory standards;
  • Engage closely with model owners across Robinhood to identify and manage risks arising from model usage;
  • Work alongside model developers to pinpoint potential weaknesses or deficiencies in models and recommend improvements or corrective actions;
  • Acquire in-depth knowledge of Robinhood's data, machine learning, and model serving systems to effectively evaluate risks and controls related to model development or application;
  • Prepare detailed model validation reports that outline findings, recommendations, and conclusions for senior management, regulatory authorities, and auditors;
  • Stay informed about the latest advancements in risk modeling techniques, industry standards, and regulatory guidelines, proactively seeking opportunities to optimize and enhance our model validation processes.
Qualifications
  • Proven expertise in model validation and model risk management;
  • A minimum of 12 years of experience in the financial services sector, specifically in model risk management, development, or validation;
  • Familiarity with financial market models and associated risks, including counterparty, fraud, market, and liquidity risks;
  • Ability to manage the validation of risk models utilizing current ML/AI technologies;
  • Strong relationship-building skills and the ability to influence stakeholders across both technical and non-technical domains; capable of articulating complex concepts to diverse audiences, with excellent written and verbal communication skills;
  • Knowledge of industry regulations and frameworks pertaining to model risk management, such as SR 11-7;
  • Capability to thrive in a dynamic and fast-paced environment.


Compensation for the successful candidate will be determined based on various job-related factors, including education, training, experience, location, business needs, and market demands. The expected salary range for this position is aligned with the location where the work will be performed and corresponds to one of three compensation zones. This role is also eligible for participation in a bonus plan and equity plan.

We are seeking collaborative and growth-minded individuals to join us on our mission to democratize finance for all. If you are ready to contribute wholeheartedly to our vision - we welcome your application, even if you feel uncertain about meeting every single requirement outlined in this posting. At Robinhood, we value individuals who are inspired by our mission, values, and commitment to effecting change in the world, rather than merely those who meet all the qualifications.

Robinhood is committed to fostering a diverse range of backgrounds and experiences and provides equal opportunities for all applicants and employees. We are dedicated to creating a company that reflects a variety of backgrounds, perspectives, and skills. We believe that inclusivity enhances our work and work environment for everyone. Additionally, Robinhood offers reasonable accommodations for candidates upon request and respects applicants' privacy rights. To review Robinhood's Privacy Policy, please refer to the specific policy applicable to the country where you are applying.

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