Model Validation and Governance Lead

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Posting Date: Feb 4, 2024

Location: New York, NY, US

Company: New York Life Insurance Co

Location Designation: Hybrid 

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

The AI & Data team is an innovative corporate Analytics group within New York Life. We are a rapidly growing entrepreneurial department which aims to design, create and offer innovative data-driven solutions for many parts of the enterprise. We are aided by New York Life’s existing business with a large market share in individual life insurance. We have the freedom to explore external data sources and new statistical techniques and are excited about delivering a whole new generation of predictive analytics and artificial intelligence solutions.

 

In fact, we are building one of the first multivariate model-based continuous risk differentiations in the industry. We are also working on models for differentiated advertising allocation by geography, channel and segment. Geographic analytics on agents and customers, application fraud detection, agent success prediction and client prospecting analytics (off-line and on-line) are other exciting examples of enormous incremental value from analytics. Our products are implemented into real-time core business processes and decisions that drive the company (e.g. underwriting, pricing, agent recruiting, prospecting, advertising allocation, new product development).

 

We work with data ranging from demographics, credit and geo data to detailed medical data (medical test results, diagnosis, prescriptions) and social media information. We have a modern computing environment with a solid suite of data science/modeling tools and packages, and a large (but manageable) group of well-trained professionals at various levels to support you. Life insurance is on the verge of huge change. This is a chance to drive the transformation of an industry.

 

The AI & Data team is the 100-person innovative corporate Data Science group within New York Life, led by Chief Data & Analytics Officer Don Vu (https://www.linkedin.com/in/dondvu/). We are a rapidly growing entrepreneurial department which designs, creates, and deploys innovative data-driven solutions for many parts of the enterprise. For more opportunities in data science, please visit our website (https://www.newyorklife.com/careers/corporate/data-science)

 

You will lead a team of model validators, who use their predictive and AI modeling knowledge to review and validate a wide variety of models built at NYL. You will work closely with data scientists and analytics engineers to ensure proper modeling processes are followed during the model development lifecycle. You’ll be an instrumental leader of the Model Validation team, part of the wider Model Governance team, led by Jae Han (https://www.linkedin.com/in/jaejhan)

 

 

Responsibilities:

 

  • Manage a growing Model Validation team responsible for independent first line validation of predictive and generative AI models, which includes:
    • Methodology review and leadership: Review model designs, explore methodology options, and stay up-to-date on statistical/ML/AI methods research.
    • Model validation: Perform independent validations of modeling datasets and models.
    • Build challenger models as needed to compare with the model being validated.
    • Write model validation reports summarizing findings from the validations.
  • Establish standards and improve process efficiency for Model Validation team.
  • Effectively challenge data and model developers on their decisions.
  • Present model validation findings to business partners and senior leaders.
  • Actively collaborate with the corporate Model Risk Management team, corporate AI Governance committees.

 

 

Required Qualifications:

 

  • Education: Masters degree or higher in statistics, computer science, mathematics, economics, engineering, or other technical field.
  • 5+ years in model governance or risk management validating predictive and AI models.
  • Prior people management experience.
  • Strong verbal and written communications skills and people management skills.
  • Experience in statistical modeling techniques such as linear regression, logistic regression, survival analysis, GLM, GBM/xgboost, neural nets, feature engineering and selection, and validation.
  • Strong interest in learning Generative AI/Large Language Model validation.
  • Proficiency in programming using R, Python, and SQL.

 

Preferred Qualifications:

  • Prior experience validating Generative AI/Large Language Models.
  • Knowledge of fairness/bias testing for AI models.

 

 

 

 

Salary range: $132,500-$197,500 

Overtime eligible: Exempt 

Discretionary bonus eligible: Yes 

Sales bonus eligible: No 

 

Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.

 

 

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 89737

 

 

 


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