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Sr Director, Model Risk Management

Lending Club

Lending Club

San Francisco, CA, USA
Posted on Thursday, February 1, 2024

Current Employees of LendingClub: Please apply via your internal Workday Account

LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC, and the only full-spectrum fintech marketplace bank. Members can gain access to a broad range of financial products and services through a technology-driven platform, designed to help them pay less when borrowing and earn more when saving. Since 2007, more than 4 million members have joined the Club to help reach their financial goals. We’re leading the governance of a new industry by developing ethical, responsible ways to bring greater value and better opportunities to our members. Everyone deserves a better financial future and our team is committed to making that a reality. Come join us!

About the Role

As a key member of the Enterprise Risk management team, you will drive high-impact model risk management projects that are associated with LendingClub Bank’s digital banking transformation. The Senior Director, Model Risk Management role reports to the Vice President of Enterprise Risk Management and is responsible for leading a team for model validations across the company and strengthening model risk governance throughout model life cycle. You will have frequent interaction and collaboration with cross-function partners including third-party teams and deliver the results.

What You'll Do

  • Providing thought leadership in enhancing the Model Risk Management program
  • Familiar with OCC 2011-12/ SR11-7 and other regulatory guidance on model risk management and capable of addressing questions from internal and external auditors and regulators.
  • Keeping abreast of latest Model Risk Management and other related regulatory guidance and industry best practices
  • Lead R&D projects to enhance existing processes and the effective challenge framework.
  • Leading a team to review internally developed or vendor models across the business
    • Identify sources of risk in models. Thoroughly and comprehensively review all model components and developmental evidences. Responsible for providing effective challenges to conceptual soundness of models and conducting quantitative analytics.
    • Challenge developers and users and to elevate their findings for the overall improvement and acceptance of new models.
    • Create challenger model during validation if needed to ensure model conceptual soundness and acceptable model performance.
    • Present validation work through formal validation reports, as well as thorough presentations to model owners, senior management, and Model Oversight Committee. Clearly and concisely document and communicate validation findings. Review remediation plan created by model owners and ensure findings are closed on time.
    • Assist in the overall ongoing maintenance and monitoring of all active models.
  • Collaborate with internal teams to address model governance related requests from institutional investors
  • Maintain and ensure accuracy of model inventory. Track and review model performance monitoring results. Review and validate model and usage changes for all the models.
  • Build strong working relationships with key model stakeholders, particularly, model developers and users.
  • Facilitate communication between third party model validation teams and internal model owners/users and ensure third party validation compliance with company’s model risk management policy and procedure.

About You

  • 8+ years of experience working in the consumer and/or commercial credit industry with a quantitative background in the development, validation and use of statistical models
  • 5+ years of management experiences in model development or validation
  • Have proven SAS/R/Python and SQL programming skills
  • Ability to communicate clearly and precisely on technical and business topics
  • Attention to detail, dedicated, willing to take extra efforts
  • MS degree or PhD in quantitative/predictive analytics
  • Good communication skills and confidence in speaking with internal and external auditors and regulators
  • Ability to manage multiple projects simultaneously to meet aggressive deadlines with high standards for quality
  • Demonstrated experience leading high performing teams and proven ability to develop & maintain strong relationships across the organization
  • Familiar with the latest technology and advanced modeling approaches (AI and ML)
  • Familiar with models used in Commercial lending and Deposit is a plus
  • Continuously evolve skills and expertise as the business and industry evolves

Work Location

San Francisco, Lehi, Boston, Westborough or remote.

We are currently working a hybrid schedule and our teams are in-office Tuesdays and Wednesdays.


Time Zone Requirements

Primarily PT.

Travel Requirements

If you need to travel for work, LendingClub will cover your travel related expenses.

Compensation

The target base salary range for this position is 215,000-248,000. The position is also eligible to receive a bonus (which is based on company performance, employee performance and eligible earnings), equity, and benefits. Our salary ranges, other compensation and benefits offered are determined by role, experience level and location.

We’re creating new financial services solutions for our members based on fairness, simplicity, and heart, and we treat our employees the same way. We offer a competitive benefits package that includes medical, dental and vision plans for employees and their families, 401(k) match, health and wellness programs, flexible time off policies for salaried employees, up to 16 weeks paid parental leave and more.

#LI-AW1


LendingClub is an equal opportunity employer and dedicated to diversity, equity, and inclusion in the workplace. We do not discriminate on the basis of race, religion, color, national origin, sex (including pregnancy, childbirth, reproductive health decisions, or related medical conditions), gender, gender identity, gender expression, sexual orientation, age, marital status, veteran status, disability status, political views or activity, or other applicable legally protected characteristics. We believe that a variety of perspectives will make our teams and business stronger as we work together to transform the traditional banking system.

We are committed to providing reasonable accommodations for qualified individuals with disabilities in our job application process. If you need assistance or an accommodation due to a disability, please contact us at interviewaccommodations@lendingclub.com.