Director of Model Risk Management

We are the movers of the world and the makers of the future. We get up every day, roll up our sleeves and build a better world together. At Ford, we’re all a part of something bigger than ourselves. Are you ready to change the way the world moves?

The Ford Motor Credit Company (“Ford Credit”) has received the regulatory conditional approval to form Ford Credit Bank(“the Bank”) to be headquartered in Salt Lake City, Utah.

The Bank will create innovative and simplified banking solutions to help customers across the country finance the purchase of new Ford vehicles, parts, accessories, EV Infrastructure and software and will accept deposits with competitive rates on FDIC-insured savings accounts and certificates of deposit. The Bank will be a direct and wholly owned subsidiary of Ford Credit, an indirect wholly owned subsidiary of Ford Motor Company (“Ford”).

The people of Ford Credit have a 60-year commitment to helping put people behind the wheels of great Ford and Lincoln vehicles. By partnering with dealerships, we provide financing, personalized service, and professional expertise to five thousand dealers and more than four million customers in over 100 countries around the world. The proposed Bank will be a strategic addition to Ford Credit and is key to providing the capabilities needed to meet the financing expectations of Ford customers.

If you’re customer-focused, driven and seeking the opportunity to experience exciting challenges and growth, look no further. The successful candidate will be a member of an exciting and dynamic team of banking professionals who would have the opportunity to stand-up and begin the operations of the de novo Bank. New employees hired by the bank will initially be Ford Credit employees. Once the bank is formally established, these employees may be transferred to the new bank.

Come help build a better world, where every person is free to move and pursue their dreams. Ford was built on the belief that freedom of movement drives human progress. It’s a belief that has fueled our passion to create great cars and trucks. And today, it drives our commitment to become the world’s most trusted mobility company, designing vehicles for a smart world that helps people move more safely, confidently, and freely. Ford is experiencing significant business transformation in an ever-changing digital world. We are dedicated to delivering distinctive products and solutions, having an “always on” relationship with customers and continuously improving our user experience.

In This Position…

The Director of Model Risk Management is a key leadership role responsible for overseeing and managing all aspects of model risk. This individual will report directly to the Bank’s Chief Risk Officer and develop, implement, and maintain a comprehensive model risk management framework that aligns with regulatory expectations, industry best practices, and the specific risk profile of the Bank. The Director is required to be knowledgeable and skilled in the areas of model risk management. He or she will lead a small team of model risk professionals, and work closely with model owners, developers, validators, and business stakeholders to ensure the appropriate identification, assessment, validation, and ongoing monitoring of models used for a variety of purposes, including but not limited to credit risk, vehicle residual value risk, pricing, and stress testing.

What You’ll Do…

• Direct the development and execution of the Bank’s model risk management program to align with the Bank’s governance framework and risk appetite, and comply with Bank policy and federal/state law and regulation

• Establish and maintain effective model risk management program standards, procedures and processes for model development, documentation, validation, implementation, and use, which align with Bank policy and regulatory guidanceStay abreast of industry trends, regulatory changes, and emerging risks related to model risk management

• Establish and maintain a robust model inventory, ensuring accurate and complete documentation of all models used within the organization and develop and implement a model risk-based rating framework

• Develop and oversee the implementation requirements for the inventory of Bank-wide models

• Oversee the independent validation of all models, ensuring that they are conceptually sound, statistically robust, fit for their intended purpose, and all validation activities and conclusions are adequately documented consistent with Bank policies and procedures

• Manage the validation process, including planning, execution, documentation, and reporting of validation findings

• Establish a severity rating framework, reporting on, and approving remediation plans and compensating controls for issues raised in model validations and elsewhereDevelop and implement processes for ongoing model monitoring, including back testing, sensitivity analysis, and benchmarking

• Prepare a consolidated view of model risk across the Bank, including significant individual model risk and model risk in the aggregate, the state of compliance with and recent and outstanding exceptions and ensure that model performance is regularly reported to senior management and relevant committees

• Establishing a process for periodic review of all models and ensuring that reviews are conducted in accordance with the established process

• Act as the primary contact for regulatory examinations, internal audits, and external audits of the credit risk management programs. Respond to exams and audit concerns and coordinate corrective action of all related findings

• Oversee activities of the model risk management team, develop personnel, and collaborate effectively with model owners, developers, business stakeholders, and other department heads to deliver on specific objectives and initiatives

• Communicate model risk management policies, procedures, and expectations to stakeholders across the organization

• Represent the Bank in civic and community reinvestment functions

You’ll Have…

• Master’s degree or PhD in a quantitative field such as mathematics, statistics, economics, finance, or a related discipline

• Minimum of 10+ years of experience in model risk management, model development, and/or model validation within the financial services industry

• Strong understanding of model risk management principles and regulatory requirements

• Experience with a wide range of models used in banking, including credit risk models (PD, LGD, EAD), pricing models, and stress testing models

• Proven experience leading and managing a team of quantitative professionals

• Strong analytical and problem-solving skills

• Excellent communication and interpersonal skills, with the ability to effectively communicate complex technical concepts to both technical and non-technical audiences

• Proficiency in statistical modeling software (e.g., SAS, R, Python)

• Strong understanding of data management principles and data quality

• Deep understanding of the banking industry, including lending practices, risk factors, and regulatory environment

• Excellent organizational skills and the ability to work well under pressure both independently and collaboratively within a team environment

• Strong ethical behavior and the ability to work with sensitive information

• Excellent leadership skills and the ability to train and develop employees, and align them to specific objectives

You may not check every box, or your experience may look a little different from what we’ve outlined, but if you think you can bring value to Ford Motor Company, we encourage you to apply!

As an established global company, we offer the benefit of choice. You can choose what your Ford future will look like: will your story span the globe, or keep you close to home? Will your career be a deep dive into what you love, or a series of new teams and new skills? Will you be a leader, a changemaker, a technical expert, a culture builder…or all of the above? No matter what you choose, we offer a work life that works for you, including:

• Immediate medical, dental, vision and prescription drug coverage

• Flexible family care days, paid parental leave, new parent ramp-up programs, subsidized back-up child care and more

• Family building benefits including adoption and surrogacy expense reimbursement, fertility treatments, and more

• Vehicle discount program for employees and family members and management leases

• Tuition assistance

• Established and active employee resource groups

• Paid time off for individual and team community service

• A generous schedule of paid holidays, including the week between Christmas and New Year’s Day

• Paid time off and the option to purchase additional vacation time.

This position is a leadership level 5.

For more information on salary and benefits, click here: BENEFITS (https://fordcareers.co/LL5)

Visa sponsorship is not available for this position.

Candidates for positions with Ford Motor Company must be legally authorized to work in the United States. Verification of employment eligibility will be required at the time of hire.

We are an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, age, sex, national origin, sexual orientation, gender identity, disability status or protected veteran status. In the United States, if you need a reasonable accommodation for the online application process due to a disability, please call 1-888-336-0660.

This position is hybrid. Candidates who are in commuting distance to a Ford hub location will be required to be onsite four or more days per week. #LI-Remote #LI-MN1 #FMCC

Requisition ID : 45747