AVP, Compliance Model Governance and Supplier (L10)

Job ID: E2403882

Job Description:

Role Title: AVP, Compliance Model Governance and Supplier (L10)

Company Overview:

Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry’s most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoors, pet and more.

• We have recently been ranked #2 among India’s Best Companies to Work for by Great Place to Work. We were among the Top 50 India’s Best Workplaces in Building a Culture of Innovation by All by GPTW and Top 25 among Best Workplaces in BFSI by GPTW. We have also been recognized by AmbitionBox Employee Choice Awards among the Top 20 Mid-Sized Companies, ranked #3 among Top Rated Companies for Women, and Top-Rated Financial Services Companies.

• Synchrony celebrates ~51% women diversity, 105+ people with disabilities, and ~50 veterans and veteran family members.

• We offer Flexibility and Choice for all employees and provide best-in-class employee benefits and programs that cater to work-life integration and overall well-being. 

• We provide career advancement and upskilling opportunities, focusing on Advancing Diverse Talent to take up leadership roles.

Organizational Overview:

Synchrony's Risk Team provides independent oversight of Synchrony’s risk-taking activities to ensure safety and soundness, meet regulatory and legal requirements, and manage risks to the risk-appetite of the Board. Risk is responsible for independently assessing, quantifying, and overseeing risks & providing effective challenge. Risk serves as Synchrony’s Second Line of Defense.   

Overall, Risk Team oversees and manages the Risk Program to support the business in anticipating and addressing risks, issues and challenges. Results are consistent with the respective strategic uses and complying with related overall risk, risk testing policies, standards, procedures as well as regulations. Our Risk organization consists of 4 pillars: Compliance, Credit & Financial Risk, Enterprise Risk and Operational Risk. Each of the pillars play a vital role in managing Risk and supports the business in anticipating and addressing risks, issues, and challenges.
Enterprise Risk provides oversight on Synchrony-wide initiatives and projects and manages issues, risk assessment & reporting, risk monitoring activities, policy standards and procedure framework for governance documents.

Role Summary/Purpose:

This position provides support to the Compliance team related to Supplier Management activities and the BSA/AML/OFAC team’s model risk management activities and support the BSA/AML/OFAC team with various quality assurance and governance items.
 

Key Responsibilities:

• Represent the BSA/AML/OFAC team as single point of contact for the Model Risk Management (MRM) team as it pertains to questions and deliverable requests which includes technical matters, ongoing monitoring issues, and change management.

• Complete all pre-implementation model documentation and work with the MRM to ensure all requirements are met including compliance with existing policies, standards, and procedures as applicable prior to deployment of any new models

• Perform data analytics and checks to ensure development data and operational data are appropriate for the model.

• Recommend metrics for model performance effectiveness

• Lead and Participate in all models tuning events including conducting and documenting pre-implementation testing to ensure accurate outputs will be produced once deployed

• Liaison with MRM to ensure any identified model deficiencies are remediated correctly and timely

• Work with third-party suppliers for any third-party models in use by the BSA/AML/OFAC team to ensure all models are maintained at Synchrony required standards

• Participate in all vendor software/model demonstrations

• Risk assesses all Compliance suppliers

• Lead mandatory meetings with all Compliance suppliers

• Complete supplier contract assessments

• Complete and submit all ad-hoc supplier surveys

• Complete Supplier evaluations as required

• Represent Compliance team for all internal Supplier Management meetings

• Open issues and track to completion for any gaps identified during supplier evaluations

• Participate in Contract renewals with Legal and Supplier Management team

• Complete Supplier intake forms as required

• Create Purchase Orders for approved suppliers and annually to ensure proper and timely payments

• Prepare all on-going monitoring reports for approval by the BSA/AML/OFAC leadership team

• Work with the VP, Governance and Oversight on changes to existing program including Money Launder Risk Assessment, Sanctions Risk Assessment, Risk Assessment Attestations, Trigger Based Reviews, and program scorecard

• Participate in regulatory exams

Required Skills/Knowledge:

• Minimum Bachelor's degree (or foreign equivalent) in Statistics, Mathematics, Economics or related quantitative field and 4+ years' experience in model development / model validation experience in financial services, banking, or retail or in lieu of degree, 6+ years' experience in model development / model validation experience in financial services, banking

• Minimum 4+ years’ hands-on experience with one or more statistical tools including Python, R, SAS, and SQL, SPARK, and Data Lake.

• Minimum 4+ years of statistical analysis and the handling large amounts of data and analyzing for trends.

• Minimum 4+ years’ experience with the application of US regulatory requirements for MRM.

Desired Skills/Knowledge:

• Master's degree in Statistics, Mathematics, Economics or related quantitative field

• Strong knowledge of Regulatory requirements for MRM with proven track records of delivering Regulatory requirements.

• 4+ years in MRM in modeling and validation in the financial services industry including both analytic/modeling/quantitative experience and governance or other credit/financial discipline.

• Experience in project management, including demonstrated ability to develop actionable plan to meet high level objectives, strong execution, and timeline sensitive deliverables.

• Sharp focus on accuracy with extreme attention to detail.

• Knowledge of Credit Card/Consumer Finance products and business model.

• Experience with Machine Learning / AI methodologies and related applications.

Eligibility Criteria:

Minimum Bachelor's degree (or foreign equivalent) in Statistics, Mathematics, Economics or related quantitative field and 4+ years' experience in model development / model validation experience in financial services, banking, or retail or in lieu of degree, 6+ years' experience in model development / model validation experience in financial services, banking.

Work Timings: This role qualifies for Enhanced Flexibility and Choice offered in Synchrony India and will require the incumbent to be available between 06:00 AM Eastern Time – 11:30 AM Eastern Time (timings are anchored to US Eastern hours and will adjust twice a year locally). This window is for meetings with India and US teams. The remaining hours will be flexible for the employee to choose. Exceptions may apply periodically due to business needs. Please discuss this with the hiring manager for more details.

For Internal Applicants:

• Understand the criteria or mandatory skills required for the role, before applying

• Inform your manager and HRM before applying for any role on Workday

• Ensure that your professional profile is updated (fields such as education, prior experience, other skills) and it is mandatory to upload your updated resume (Word or PDF format)

• Must not be any corrective action plan (First Formal/Final Formal, PIP)

• L8+ employees who have completed 18 months in the organization and 12 months in current role and level are only eligible.

• L8+ employees can apply

Grade/Level: 10

Job Family Group:

Risk Management