Overview Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members “do better.” Joining PenFed is more than being an employee; it’s about being a part of the PenFed family. PenFed is hiring a (Hybrid) Director, Model Risk Management AI/ML at our Tysons, Virginia location. The purpose of this role is to lead a critical component of the second-line Model Risk Management (MRM) function, overseeing AI/ML models across enterprise-wide. This position ensures the integrity, compliance, and effectiveness of quantitative risk models through validation, monitoring, and governance. The candidate will leverage extensive quantitative expertise and strategic judgment to independently challenge and enhance AI/ML model policy and frameworks, ensuring alignment with organizational objectives and regulatory standards. Responsibilities Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties, and the position will perform other duties as assigned. Contributes to development and governance policy and standards for all AI/ML risk models in use at PenFed, leading to more optimal use of models, and increased confidence in model outcomes. Lead and perform independent model validations, focusing on evaluating model design, data, assumptions, performance and implementation for compliance with organizational and regulatory standards. Review and assess model monitoring processes, including identifying and mitigating risks related to model drift, bias, and operational stability. Develop and implement AI/ML risk management frameworks, ensuing models meet requirements for interpretability, fairness, robustness, and ethical considerations. Provide clear and insightful analysis, feedback, and critique of models by way of written reports and presentations to business units and senior management. Collaborate with model owners and stakeholders to ensure alignment on validation findings, monitoring results, and governance expectations. Stay current with emerging AI/GenAI risks, technologies, and regulatory guidance to continuously improve validation processes and frameworks. Partner with cross-functional teams to promote responsible AI/GenAI practices and ensure consistent application of model risk management policies across the organization. Provide training and resources to internal stakeholders on managing AI/GenAI risks and ensuring compliance with responsible AI standards. Manage all effective challenges for model risk, include model validations, model reviews, issue resolution reviews using internal staff and consultants. Qualifications Equivalent combination of education and experience is considered. Advanced degrees in quantitative subjects, such as Data Science (AI/ML), Economics, Finance, Physics, Mathematics, or related quantitative subjects. Minimum of twelve (12) years’ experience in quantitative modeling, risk management, financial research or model risk management in a financial institution. Minimum of five (5) years’ experience with programming tools, including SAS, Python, or R, required. Minimum five (5) years’ experience in AI/ML models is required. Minimum four (4) years of direct management experience required. Extensive experience in model development or model risk management with the financial service industry. Proficiency in AI/ML methods, NLP, LLM, GenAI, statistical modeling and model validation techniques, including model implementation validation & testing. Demonstrated knowledge of model risk management and associated regulatory requirements (FRB SR11-7, SR 15-18, and SR 16-11). Experience in governance or second-line roles. Experience working with regulators on model validation processes. Ability to condense highly technical subject matter into clear, effective presentation-quality communications to senior management. Supervisory Responsibility This position will not directly supervise employees. Licenses and Certifications There are no additional certifications required. Work Environment While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise. *Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.* Travel The ability to travel to various worksites and be on-call may be required. About Us Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2.9 million members and over $31 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam and Puerto Rico. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day. We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more. Equal Employment Opportunity PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same. PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 402-639-8568. #LI-Hybrid