Voya Financial
Overview
The Director of Model Validation sits within the Risk Organization and will be responsible for leading the independent validation of all models across the enterprise, including financial, non-financial, business-owned applications (BOAs), and AI/ML models. This role ensures that model risk is effectively identified, assessed, and mitigated in alignment with regulatory expectations and internal governance standards. The role is a critical part of enhancing model transparency, audit readiness, and risk-adjusted decision-making. Responsibilities
Model Validation Oversight: Direct and execute the enterprise-wide model validation program, ensuring all models are validated according to their risk tier and regulatory requirements. Governance & Frameworks: Develop and maintain a formalized, risk-based model validation framework, including policies, procedures, and documentation standards. AI/ML Model Review: Establish and oversee validation protocols for AI/ML models, including annual validation cycles and evolving regulatory guidance. Team Leadership: Manage a small team of validation analysts including those dedicated to AI/ML and non-AI models. Stakeholder Engagement: Collaborate with model owners, business units, internal audit, compliance, and IT to ensure timely and effective validations. Regulatory Interface: Support regulatory exams and ORSA reporting by providing validation evidence, schedules, and governance documentation. Platform Integration: Oversee the use of centralized validation platforms (e.g., Riskonnect) to streamline workflow, documentation, and audit tracking. Build strong relationships and collaborate effectively on cross-functional teams. Perform other related duties as assigned. Knowledge & Experience
Masters/PhD degree in mathematics, statistics, finance, data science, or related field. 10+ years of experience in model risk management, validation, or quantitative analytics within financial services or insurance. Proficiency with programming languages such as Python, R, and associated statistical modeling software. Deep understanding of model governance, regulatory expectations (e.g., SR 11-7, NAIC Model Risk Guidance), and validation best practices. Familiarity with AI/ML model validation and emerging regulatory frameworks. Outstanding attention to detail, problem-solving abilities, strong leadership, communication, and stakeholder management skills. Proficiency with model documentation tools and governance platforms (e.g., Riskonnect, Archer). Ability to manage multiple issues simultaneously, handle ambiguity, and take accountability even when not in direct control of all areas involved. Compensation & Benefits
Actual compensation offered may vary based on geographic location, work experience, education, licensure requirements, and skill level. The base salary range shown is provided for context and may be adjusted at the time of offer. Salaries for part-time roles will be prorated based on hours worked. Base Salary Range:
$166,310 - $207,890 USD Be Well. Stay Well.
Voya provides resources to help you thrive physically, financially, socially and emotionally. Benefits include a range of plans, programs, tools and resources to help you and your family be well. What We Offer
Health, dental, vision and life insurance plans 401(k) Savings plan with company match (up to 6%) Voya Retirement Plan – employer-paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year Paid time off – 20 days, nine paid holidays, and a Diversity Celebration Day Paid volunteer time — 40 hours per year Critical Skills
Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations. Critical Thinking: Analytical problem solving based on data to reach well-reasoned solutions. Team Mentality: Collaborate effectively to drive our culture and achieve goals. Business Acumen: Understanding of the financial services industry to make sound decisions. Learning Agility: Openness to new ideas and skills to maintain a competitive edge. Equal Employment Opportunity
Voya Financial is an equal-opportunity employer. We provide equal opportunity to qualified individuals regardless of race, color, sex, national origin, citizenship status, religion, age, disability, veteran status, or any other status protected by law. Reasonable Accommodations
Voya is committed to inclusion and will provide reasonable accommodations to qualified individuals. If accommodations are needed to participate in the application or interview process or to perform essential job functions, please reference the resources for applicants with disabilities. Misuse of Voya's name in fraud schemes Job Details
Seniority level: Not Applicable Employment type: Full-time Job function: Finance and Sales Industries: Insurance and Financial Services Note: This listing may include additional related roles, but the core description focuses on the Director of Model Validation responsibilities and qualifications.
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The Director of Model Validation sits within the Risk Organization and will be responsible for leading the independent validation of all models across the enterprise, including financial, non-financial, business-owned applications (BOAs), and AI/ML models. This role ensures that model risk is effectively identified, assessed, and mitigated in alignment with regulatory expectations and internal governance standards. The role is a critical part of enhancing model transparency, audit readiness, and risk-adjusted decision-making. Responsibilities
Model Validation Oversight: Direct and execute the enterprise-wide model validation program, ensuring all models are validated according to their risk tier and regulatory requirements. Governance & Frameworks: Develop and maintain a formalized, risk-based model validation framework, including policies, procedures, and documentation standards. AI/ML Model Review: Establish and oversee validation protocols for AI/ML models, including annual validation cycles and evolving regulatory guidance. Team Leadership: Manage a small team of validation analysts including those dedicated to AI/ML and non-AI models. Stakeholder Engagement: Collaborate with model owners, business units, internal audit, compliance, and IT to ensure timely and effective validations. Regulatory Interface: Support regulatory exams and ORSA reporting by providing validation evidence, schedules, and governance documentation. Platform Integration: Oversee the use of centralized validation platforms (e.g., Riskonnect) to streamline workflow, documentation, and audit tracking. Build strong relationships and collaborate effectively on cross-functional teams. Perform other related duties as assigned. Knowledge & Experience
Masters/PhD degree in mathematics, statistics, finance, data science, or related field. 10+ years of experience in model risk management, validation, or quantitative analytics within financial services or insurance. Proficiency with programming languages such as Python, R, and associated statistical modeling software. Deep understanding of model governance, regulatory expectations (e.g., SR 11-7, NAIC Model Risk Guidance), and validation best practices. Familiarity with AI/ML model validation and emerging regulatory frameworks. Outstanding attention to detail, problem-solving abilities, strong leadership, communication, and stakeholder management skills. Proficiency with model documentation tools and governance platforms (e.g., Riskonnect, Archer). Ability to manage multiple issues simultaneously, handle ambiguity, and take accountability even when not in direct control of all areas involved. Compensation & Benefits
Actual compensation offered may vary based on geographic location, work experience, education, licensure requirements, and skill level. The base salary range shown is provided for context and may be adjusted at the time of offer. Salaries for part-time roles will be prorated based on hours worked. Base Salary Range:
$166,310 - $207,890 USD Be Well. Stay Well.
Voya provides resources to help you thrive physically, financially, socially and emotionally. Benefits include a range of plans, programs, tools and resources to help you and your family be well. What We Offer
Health, dental, vision and life insurance plans 401(k) Savings plan with company match (up to 6%) Voya Retirement Plan – employer-paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year Paid time off – 20 days, nine paid holidays, and a Diversity Celebration Day Paid volunteer time — 40 hours per year Critical Skills
Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations. Critical Thinking: Analytical problem solving based on data to reach well-reasoned solutions. Team Mentality: Collaborate effectively to drive our culture and achieve goals. Business Acumen: Understanding of the financial services industry to make sound decisions. Learning Agility: Openness to new ideas and skills to maintain a competitive edge. Equal Employment Opportunity
Voya Financial is an equal-opportunity employer. We provide equal opportunity to qualified individuals regardless of race, color, sex, national origin, citizenship status, religion, age, disability, veteran status, or any other status protected by law. Reasonable Accommodations
Voya is committed to inclusion and will provide reasonable accommodations to qualified individuals. If accommodations are needed to participate in the application or interview process or to perform essential job functions, please reference the resources for applicants with disabilities. Misuse of Voya's name in fraud schemes Job Details
Seniority level: Not Applicable Employment type: Full-time Job function: Finance and Sales Industries: Insurance and Financial Services Note: This listing may include additional related roles, but the core description focuses on the Director of Model Validation responsibilities and qualifications.
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