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 AI/ML and generative AI models built and/or used across the enterprise.
Vanguard is a global investment management firm with a mission to give investors the best chance for investment success. Across its businesses and support functions, Vanguard uses AI to drive effectiveness, efficiency, and a range of key business outcomes.
In this role, you will lead the independent validation and challenge of AI models, ensuring they are conceptually sound, well-governed, and fit for purpose. You will work closely with data scientists, quantitative developers, model users, 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.
Core Responsibilities
- Assess models and systems using generative AI throughout their lifecycle including leading independent validations and assessment of ongoing monitoring, change management, and remediations of model risk findings
- Provide effective challenge of model assumptions, methodologies, data, testing, implementation, monitoring and limitations, with a focus on material risk drivers
- Assess compliance with internal AI standards, emerging regulatory requirements, and governance expectations related to AI/ML and generative AI systems, including fairness, explainability, transparency, and human oversight
- Ensure timely execution of model validation and high-quality validation reports that meet internal standards, and communicate validation findings clearly to technical and non-technical stakeholders
- Develop, maintain and enhance validation procedures to support a consistent, risk-based approach for independent validation and effective challenge of AI/ML and generative AI systems, including keeping informed of the evolution of technology in generative and agentic AI
- 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
- Identify emerging and top risks across the portfolio of AI/ML and generative AI models and surface them to MRM leadership
- Provide coaching and mentorship to junior team members
- Participate in special projects and perform other duties as assigned
Qualifications
- PhD 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
- Experience developing, testing or validating AI/ML models or systems using generative AI is required
- Knowledge of programming languages including Python is a requirement
- Knowledge of technology platforms used for model development and deployment, CI/CD is a requirement
- Knowledge of generative AI architectures including foundation models, RAG systems, agentic workflows, prompt engineering approaches, and associated risks such as hallucinations, algorithmic bias, and harmful outputs
- Knowledge of AI/ML modeling including ML algorithms, NLP, deep learning, and evaluation methodologies
- Exceptional written communication skills are required, including the ability to communicate complex model risks to audiences ranging from technical practitioners to senior executives
- Experience in the financial services sector is a plus
- Broad knowledge of risk management at financial institutions preferred
- Ability to deal effectively with a variety of stakeholder teams
- Ability to effectively manage multiple and competing priorities
- Exhibits flexibility and excellent judgment
Special FactorsSponsorshipVanguard is offering visa sponsorship for this position.
About Vanguard At Vanguard, we don't just have a mission-we're on a mission.
To work for the long-term financial wellbeing of our clients. To lead through product and services that transform our clients' lives. To learn and develop our skills as individuals and as a team. From Malvern to Melbourne, our mission drives us forward and inspires us to be our best.
How We WorkVanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.
