Model Validator

About the position The Model Risk Management (MRM) Team, part of Vanguard’s second line of defense, is seeking an experienced model risk professional to support independent oversight of quantitative models used across Vanguard’s Investment Management Group (IMG). Vanguard is a global investment management firm with a mission to give investors the best chance for investment success. Through its Investment Management Group, Vanguard designs, manages, and oversees a broad range of active and passive investment strategies across asset classes, vehicles, and geographies, supporting mutual funds, ETFs, and institutional mandates. These activities rely on quantitative models spanning portfolio construction, risk management, trading, asset allocation, and performance measurement, including an increasing use of advanced analytics and machine learning techniques. In this role, you will lead the independent validation and challenge of models used within IMG, ensuring they are conceptually sound, well‑governed, and fit for purpose. You will work closely with data scientists, quantitative developers, investment strategists, and technology partners, providing credible challenge while maintaining strong, collaborative relationships with the business. Beyond individual model reviews, you will help drive the evolution of Vanguard’s model risk management framework, shaping methodologies, standards, and practices that support consistent, enterprise‑wide application of model risk principles across traditional quantitative models and AI/ML‑based solutions. You will also partner with Risk and Control colleagues to influence broader programs and initiatives that strengthen model governance across Vanguard. This role includes people leadership responsibilities, with accountability for developing and managing a team of model validation professionals.

Responsibilities

• Perform and lead independent validation of investment models across major asset classes covering portfolio construction, signaling, risk management, trading, asset allocation, and performance measurement
• Provide effective challenge of model assumptions, methodologies, data, implementation, and limitations, with a focus on material risk drivers.
• Produce high quality validation reports that meet internal standards communicate validation findings clearly to technical and non‑technical stakeholders, including senior investment and risk leaders
• Develop, maintain and enhance validation procedures to support a consistent, risk-based approach for independent validation and effective challenge of investment management models
• Contribute to the design and enhancement of model risk management policies, standards, and procedures across the full model lifecycle (inventory, development, validation, approval, and ongoing monitoring).
• Support the MRM team in advising stakeholders on Model Risk policy and other relevant standards as needed
• Maintain understanding of industry trends in model validation and provide updates to stakeholder teams to enhance the knowledge and awareness or best practices, and act as an SME
• Participate in special projects and perform other duties as assigned

Requirements

• PhD degree in a quantitative discipline such as Computer Science, Mathematics, Statistics, Physics, Engineering or an equivalent combination of training and experience
• Minimum of 7 years of relevant experience in model development or model validation
• Broad knowledge of relevant modeling frameworks and standards is required
• Strong knowledge of financial products across at least one of the asset classes: equities, fixed income, etc.
• Experience in the asset management business (sell side or buy side) is required.
• Knowledge of programming languages including Python and MATLAB
• Knowledge of technology platforms such as AWS SageMaker used for model development and deployment, CI/CD is a requirement
• Excellent communication, negotiation, diplomacy, and presentation skills is a must
• Ability to deal effectively with a variety of stakeholder teams
• Ability to effectively manage multiple and competing priorities of the team and department as well as one’s own priorities and time
• Exhibits flexibility and excellent judgment

Nice-to-haves

• Familiarity with risk models (counterparty, liquidity, internal capital, market risk) is a plus
• Experience developing, testing or validating AI/ML models is a plus
• Broad knowledge of risk management at financial institutions preferred
• Experience validating third party models and familiarity with third party models and platforms used in asset management (e.g., Aladdin, Axioma, Barra, etc.) preferred

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