Senior Manager, Model Validation - Investment Management

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 quantitative models used across Vanguard’s Investment Management Group (IMG).

Vanguard is a global investment management firm with a mission to give investors the best chance for investment success. Through its Investment Management Group, Vanguard designs, manages, and oversees a broad range of active and passive investment strategies across asset classes, vehicles, and geographies, supporting mutual funds, ETFs, and institutional mandates. These activities rely on quantitative models spanning portfolio construction, risk management, trading, asset allocation, and performance measurement, including an increasing use of advanced analytics and machine learning techniques.
 
In this role, you will lead the independent validation and challenge of models used within IMG, ensuring they are conceptually sound, well governed, and fit for purpose. You will work closely with data scientists, quantitative developers, investment strategists, 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 across traditional quantitative models and AI/ML based solutions. You will also partner with Risk and Control colleagues to influence broader programs and initiatives that strengthen model governance across Vanguard.

This role includes people leadership responsibilities, with accountability for developing and managing a team of model validation professionals.

Core Responsibilities

• Lead an oversee independent validation of investment models across major asset classes covering portfolio construction, signaling, risk management, trading, asset allocation, and performance measurement

• Provide effective challenge of model assumptions, methodologies, data, implementation, and limitations, with a focus on material risk drivers.

• Ensure Produces timely execution of model validation and high-quality validation reports that meets internal standards, and meets Internal Audit’s and regulatory expectations

•  Helps d and communicate validation findings clearly to technical and non-technical stakeholders, including senior investment and risk leaders

• Develop, maintain and enhance validation procedures to support a consistent, risk-based approach for independent validation and effective challenge of investment management models

• 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

• Maintains understanding of industry trends in model validation and provide updates to stakeholder teams to enhance the knowledge and awareness or best practices, and act as a senior SME and thought leader for model risk management within the investment management space

• Identify emerging and top risks across the portfolio of investment models and surface them to MRM leadership

• Manage and develop a team of model validation professionals, setting clear expectations, providing coaching, and building deep technical and business expertise

• Participates in special projects and performs other duties as assigned.

Qualifications

• PhD degree 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

• Broad knowledge of relevant modeling frameworks and standards is required

• SME knowledge of financial products across various asset classes (equities, fixed income, FX)

• Experience in the asset management business (sell side or buy side) is required.

• Familiarity with risk models (counterparty, liquidity, internal capital, market risk) is a plus

• Knowledge of programming languages including Python and MATLAB

• Knowledge of technology platforms such as AWS SageMaker used for model development and deployment, CI/CD is a requirement

• Experience developing and managing junior model validators

• Experience developing, testing or validating AI/ML models is a plus

• Excellent communication, negotiation, diplomacy, and presentation skills is a must

• Broad knowledge of risk management at financial institutions preferred

• Experience validating third party models and familiarity with third party models and platforms used in asset management (e.g., Aladdin, Axioma, Barra, etc.) preferred

• Ability to deal effectively with a variety of stakeholder teams

• Ability to effectively manage multiple and competing priorities of the team and department as well as one’s own priorities and time

• Exhibits flexibility and excellent judgment      

Special Factors

Sponsorship

Vanguard 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 Work

Vanguard 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.