Head of AI Governance and Model Risk Management

$184,000 - $204,000/Yr

Mission Lane - Richmond, VA

Full-time - Senior

Remote - Richmond, VA

Credit Intermediation and Related Activities

About the position

The Head of AI Governance and Model Risk Management at Mission Lane is responsible for leading the Model Risk Management strategy and overseeing the governance of AI within the organization. This remote role involves managing day-to-day operations related to model risk, ensuring compliance with regulatory standards, and fostering collaboration across various teams to enhance the effectiveness of model management practices. The position is pivotal in shaping the future of AI and machine learning in the fintech sector, focusing on responsible and efficient use of technology to improve consumer credit access.

Responsibilities

• Lead the Model Risk Management strategy and operations within the Risk Management team.
• Oversee the governance of AI and machine learning models to ensure compliance with regulatory standards.
• Collaborate with sponsor banks, legal teams, modelers, and business owners to enhance model management practices.
• Perform model validations, reviews, and assessments of model risk.
• Develop and apply statistical, econometric, or machine learning models to support business objectives.
• Continuously refine business processes to improve scalability, efficiency, and effectiveness.

Requirements

• Experience working in a regulated environment, preferably with SR 11-7 guidance for Model Risk Management.
• Proficiency in coding and reviewing code for data science projects.
• Strong skills in performing model validations and assessments of model risk.
• Excellent collaboration and organizational skills to build partnerships across teams.
• A vision for responsible AI and machine learning practices in fintech.

Nice-to-haves

• A vision for collaboration between fintechs, sponsor banks, and regulators on Model Risk Management.
• Interest in applying risk management principles to enhance value and fairness in credit access.
• Familiarity with emerging trends in AI regulation and machine learning research.

Benefits

• Competitive salary and equity options.
• Generous parental leave policy.
• Full benefits package including health, dental, and vision insurance.
• 401(k) with matching contributions.
• Unlimited paid time off.
• Monthly wellness stipend.
• Flexible spending account for childcare and healthcare.