Manager, Model Risk

When you join Sallie Mae, you become a champion for all students.

We’re on a mission to power confidence as students begin their unique journey. To help them plan their higher education, successfully finish, and prepare for life after school. To help them Start smart. Learn big.

Students need guidance navigating this important time in their life. They need someone who acknowledges that their education path is unique. They need a partner willing to evolve and not only meet but surpass their expectations. We’re changing. Because students need a better way.

We’re looking for people who are excited to drive this transformation. To break barriers and think of new ways to adapt, help, and create better experiences for students—and for each other.

This is where diverse backgrounds, beliefs, and perspectives matter. It’s where you’re empowered to bring your authentic self to work.

Feeling your best allows you to do your best. Our benefits take care of the whole you—from physical and mental to financial and professional. You’ll get opportunities to further your education and career, support for you and your family (including your pets!), paid time off to volunteer for the things that matter to you, and more.

We’re obsessed with impact and making a real difference. For us, that means putting relationships first, asking “why not?” when tackling challenges, and continuously learning new skills.

Come do more than join something, change something. For students, for future generations, for the future of education.

Position Summary

The Manager, Model Risk is a senior individual contributor responsible for independently leading model validation activities and providing effective challenge across the model lifecycle. The role operates within the second line of defense and provides independent effective challenge evaluating the conceptual soundness, data, methodology, implementation, performance, limitations, and governance of models used across the enterprise and supports compliance with the organization's Model Risk Management framework and applicable regulatory expectations.

Key Responsibilities

• Independently plan and execute risk-based validations of new and existing models, including assessments of conceptual soundness, data quality, methodology, assumptions, implementation, performance, limitations, and documentation.
• Lead validation engagements from scoping through final reporting, including the development of testing approaches, documentation of findings, and communication of conclusions.
• Provide independent effective challenge to model developers, owners, and users and assess whether identified model risks are appropriately understood, documented, and mitigated.
• Evaluate model performance monitoring, change management, ongoing review, and governance practices for alignment with the Model Risk Management framework and applicable regulatory expectations.
• Perform quantitative analysis and testing using relevant statistical techniques and programming tools such as Python or R.
• Prepare clear, well-supported validation reports and present conclusions, limitations, and findings to business partners, senior management, governance committees, and regulators, as appropriate.
• Partner with model development, risk, finance, technology, and business teams while maintaining independent second-line oversight.
• Contribute to enhancements of model validation practices, procedures, templates, and risk assessment methodologies.

Qualifications

• Bachelor's degree in mathematics, statistics, economics, finance, data science, engineering, or a related quantitative field.
• 5+ years of direct experience performing model validation, independent model review, or closely related model risk oversight within financial services.
• Demonstrated experience evaluating model conceptual soundness, data, assumptions, methodology, implementation, performance, limitations, and ongoing monitoring.
• Proficiency in Python, R, SAS, SQL, or comparable analytical tools used to independently test and assess models.
• Strong knowledge of quantitative analysis, statistical techniques, model governance, and model risk management principles.

Exceptional written and verbal communication skills, with the ability to document defensible conclusions, communicate technical issues clearly, and influence stakeholders through effective challenge.

Preferred Skills

• Experience validating credit risk, allowance, forecasting, stress testing, decisioning, or other financial risk models.
• Working knowledge of applicable model risk management guidance and industry practices, including SR 11-7 or comparable regulatory expectations.
• Experience validating and governing risk, financial, or forecasting models within the financial services industry, including familiarity with CECL framework models and related regulatory, accounting, and model risk management expectations.

Value Proposition

Join a high-impact second line of defense function that plays a critical role in shaping the organization’s risk posture and decision-making. As Manager, Model Risk, you will operate at the intersection of quantitative analytics, governance, and regulatory engagement, providing independent oversight that directly influences strategic outcomes across credit, finance, and enterprise risk.

• Own complex validation engagements from initial scoping through final reporting and issue follow-up.
• Apply independent judgment and effective challenge to models that support important credit, finance, and enterprise risk decisions.
• Influence enhancements to model risk practices and governance without direct people-management responsibility.
• Expand technical, regulatory, and executive communication capabilities across a diverse model portfolio.

This role is suited for an experienced model validation professional seeking meaningful individual-contributor responsibility, broad model exposure, and the opportunity to influence model risk practices across the enterprise.

The Americans With Disabilities Act

The Americans with Disabilities Act of 1990 (ADA) prohibits discrimination by employers, in compensation and employment opportunities, against qualified individuals with disabilities who, with or without reasonable accommodation, can perform the “essential functions” of a job. A function may be essential for any of several reasons, including: the job exists to perform that function, the employee holding the job was hired for his/her expertise in performing the function, or only a limited number of employees are available to perform that function.

Feeling Your Best Helps You Do Your Best

Our benefits take care of the whole you—so you can build your work around your life (not the other way around!).

• Competitive base salaries
• Bonus incentives
• Generous PTO, Floating Holidays and 12 Federal Holidays observed
• Support for financial-well-being and retirement 401k with employer match
• Comprehensive medical, dental, vision, hospital indemnity, critical illness, pet insurance and more
• Employer paid short-term/long-term disability and basic life insurance
• Flexible hybrid working arrangements.
• Paid parental leave and adoption reimbursement programs
• Free access to on-site staffed fitness centers (in Delaware) and gym subsidy (for locations outside Delaware)
• Confidential counseling support (EAP), Health Advocacy services and Wellness program with financial incentives
• Tuition Reimbursement and Family Scholarship Programs
• Career development and training opportunities

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Sallie Mae is proud to be an equal opportunity (EEO) employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender, sexual orientation, national origin, age, genetic information, gender identity, disability, Veteran status or any other characteristic protected by federal, state or local law. Click here to view the U.S. Pay Transparency Policy, here for federal job applicant notices, and here to view the California Employee Privacy Notice.

Reasonable accommodations are available for applicants with disabilities in all phases of the application and employment process. To request an accommodation please call (855) 756-2007 and choose option 9. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.