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[New Job Vacancy] Model Validation Manager job in OppFi, (Chicago, IL) – Jobs in Chicago, IL

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Job Opening details:-
Company Name :-
Position Name :-
Model Validation Manager
Company Location :-
Chicago, IL
Job Category :
 Management jobs

Full Job Description :-
As a leading financial technology platform, OppFi powers banks to bring credit access to millions of everyday consumers who are locked out of mainstream financial options. We go beyond our mission – to help people rebuild financial health – and go further to ensure we keep the customer at the center of everything we do. We are creating a Customer-obsessed culture, with the capital “C”.
And it starts with our team here. We are a team of caring, innovative, and inclusive individuals who thrive in being immersed in diverse talents, expertise, perspectives and backgrounds. Our employees approach every new challenge with an unparalleled ability to see what could be rather than settle for what is. We welcome individuals who want to make a difference in the financial system through creating and building simple, transparent products that facilitate credit access, enable savings, and build wealth.
A few other fun facts about us. OppFi is an Inc. 5000 company for six straight years, a Deloitte’s Technology Fast 500™, the seventh fastest-growing Chicagoland company by Crain’s Chicago Business, and was named on Built In’s 2022 Best Places to Work in Chicago.
What you get to do:

Manage model risk, arising from model degradation, data drifts, changes to the business, and make sure models are used appropriately, and optimally across the business (15%).
Manage internal and external stakeholders reports and data for model management, model quality and performance, evaluating models from across the organization to meet both regulatory and business needs (15%).
Work closely with data scientists on the latest machine learning platforms and techniques (10%).
Provide internal independent model validations, pre-model deployment, and post-production validations (10%).
Check appropriateness of model assumptions, model target variable definition, model attributes definitions, and statistical distribution of model input/output (5%).
Review model performance and impact, and analyze using statistical techniques (AUC, KS, PSI, back-testing, scenario analysis, etc.) to ensure model stability and identify model risks and limitations (5%).
Prepare high-quality validation reports (on-going monitoring, quarterly/annual reports, etc.)(10%).
Document the findings of analysis and validation results. Maintain/Review internal and external models inventory and documentation (10%).
Understand the business contexts of model usage, and contribute to the development of model risk management policies and procedures (10%).
Keep abreast of trends in model validation and risk management (10%).
This position supervises up to 2 (two) subordinates: Model Validation Analyst(s) or Model Validation Associate(s).

What you will bring to the team:

Master’s degree in Data Analytics, Applied Economics, Financial Engineering, Finance, or Applied Mathematics, or related field, or foreign equivalent.
2 years of relevant validation experience.
2 years of experience building models across decision areas – underwriting, marketing, fraud/verification.
2 years of programming experience in Python and SQL.
2 years of scripting experience to automate reports and for analysis.
Experience building machine learning models (e.g., multi-factor regression models, classification models, decision trees, XGBoost, etc.).
Experience in statistical techniques.
Experience in model validation methodologies, OCC 2011-12 regulations.

Reports to: Sr. Manager, Credit
Job Level: Manager
The salary range for this role is $80,080 – $113,300 per year. The total compensation package includes eligibility for performance-based bonuses as well as a 1-time equity grant based on level.
The actual offer, reflecting the total compensation package and benefits, will be at the company’s sole discretion, and determined by a myriad of factors including, but not limited to, years of experience, depth of experience, and other relevant business considerations.
Total Rewards and Benefits
OppFi offers a flexible remote environment, 401(k) matching program, and flexible paid vacation. Other benefits include medical benefits, dental and vision coverage, and tuition reimbursement. To support your wellness & growth, we provide monthly meditation and yoga classes and access to all LinkedIn Learning courses. We also offer Fringe, which is a lifestyle benefits platform that lets you decide how you want to spend your rewards from dozens of vendors like Uber, Doordash, and Urban Sitter. Dress code is casual.
EEOC Statement:
OppFi is an equal opportunity employer and does not discriminate based on any actual or perceived legally recognized protected bases under local, state, or federal law or regulations. Our goal as a company is to build an equitable workplace that actively works to dismantle systems of oppression in our processes, procedures, and interactions. We aim to help our employees thrive where they work and beyond. Check out our Culture page here.
OppFi is committed to the full inclusion of all qualified individuals. As part of this commitment, OppFi will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact our People team at
Pursuant to the requirements of the California Consumer Privacy Act, OppFi is providing the “OppFi California Employee Privacy Policy”, which details the categories of personal information collected and your rights under the policy. If you are a California resident, please review the policy here:

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