Senior Process Specialist, Model Validation - Novo

About Us: 

Small businesses are the backbone of the US economy, comprising almost half of the GDP and the private workforce. Yet, big banks don’t provide the access, assistance and modern tools that owners need to successfully grow their business. 

We started Novo to challenge the status quo—we’re on a mission to increase the GDP of the modern entrepreneur by creating the go-to banking platform for small businesses (SMBs). Novo is flipping the script of the banking world, and we’re excited to lead the small business banking revolution.

At Novo, we’re here to help entrepreneurs, freelancers, startups and SMBs achieve their financial goals by empowering them with an operating system that makes business banking as easy as iOS. We developed modern bank accounts and tools to help to save time and increase cash flow. Our unique product integrations enable easy access to tracking payments, transferring money internationally, managing business transactions and more. We’ve made a big impact in a short amount of time, helping thousands of organizations access powerfully simple business banking.  

What You’ll Do:

Responsible for conducting validation activities such as financial models, acquisition and portfolio management scorecards, and anti-fraud tools. Provides recommendations for model enhancements.

How You’ll Do It

• Performs independent validations on statistical, financial and machine learning models to support Novo’s lending business, including underwriting, fraud, pricing, collection and exposure models.
• Write and present model validation reports and provide value-added recommendations to model owners and developers.
• Query data from multiple sources and platforms (SAS, Python, databases, Essbase, Excel, and others) to find the right information to help address problems.
• Interpret model-validation test results and establish required action plans with model owners and developers.
• Assist with measures to validate coding and isolate any unintended impacts to risk ratings and data integrity
• Maintain working papers and records of model validation results.
• Read model documentation, research modeling methodology and framework, and dig deeply into data, ask the right question to learn about the modeling process and techniques, identify model limitations and recommend future action.
• Build benchmark models when necessary, using the best-practice approach in the appropriate areas.

Qualifications You’ll Need

Requirements for the Role: (these are specific to the role-- technical skills and requirements to fulfill the job duties, certifications, years of experience, degree)

• Master's degree in statistics, economics, engineering, business, or related field.
• 4+ years of experience in model development and/or validation in a financial services industry, or related field.

Nice To Have, but Not Required:

• PhD in statistics, economics, mathematics, business, or related field
• 5+ years of experience in model development and/or validation in a financial services industry, or related field
• FRM, CFA, or PRM certification