Model Risk Manager, Robinhood
$129-195k
+ Bonus plan and equity plan. Salary dependent on location
More information about location
Commission-free stock trading platform
Open for applications
Commission-free stock trading platform
1001+ employees
Open for applications
$129-195k
+ Bonus plan and equity plan. Salary dependent on location
More information about location
1001+ employees
Company mission
To democratize finance for all.
Role
Who you are
- A minimum of Bachelor’s degree in a quantitative discipline, such as Economics, Math, Computer Science, Data Science, etc
- A minimum of 7 years of experience working in quantitative analytics, model development, model validation or model risk management,
- Familiarity with models in financial markets, e.g. models used for credit risk, fraud, market risk, and liquidity risk, including AI/ML models, as well as Python or R,
- Ability to build strong relationships and influence stakeholders in both technical and non-technical space,
- Ability to explain complex concepts for various audiences, and have superior written and oral communication skills,
- Familiarity with industry regulations and regulatory frameworks related to model risk management, such as SR 11-7,
- Ability to work and thrive in a fast-paced environment, with strong project management and delivery track record
What the job involves
- As a Model Risk Manager, you will champion the importance and value of sound model risk management practices, will drive independent model validation and identification of model risks, and will support ongoing model risk mitigation and reporting
- You will work closely with a diverse group of professionals across the enterprise, including quantitative analysts, data scientists, risk managers, and model owners to ensure the accuracy and reliability of our models
- This is an individual contributor role
- Promote, apply and help evolve and optimize the enterprise-wide Model Risk Management framework and processes
- Develop and implement model validation plans to review and assess the soundness and performance of various models
- Work closely with model owners and model developers to identify and manage risks introduced by the use of models
- Prepare model validation reports detailing findings, recommendations, and conclusions for senior management, regulatory bodies, and auditors
- Assist with regular model risk tracking and reporting, including the remediation and closure of identified issues
- Stay up-to-date with the latest developments in model risk management approaches, industry standards, and regulatory guidelines
Our take
For years, traditional brokers ruled the share trading realm, charging hefty fees that locked out everyday investors. Robinhood emerged as a disruptor, offering commission-free trading and opening the door to a new generation. Its innovative model thrives on premium features like increased buying power and extended trading hours, attracting a younger audience drawn to meme stocks like AMC and GameStop.
But Robinhood's not just about quick thrills. The company claims its mission lies in catering to "the unmet needs of the next generation," evidenced by its "Robinhood Retirement" launch, targeting gig-economy workers often excluded from financial planning. This commitment to accessibility aligns with its core values.
However, 2023 brought unexpected turbulence, as Robinhood became entangled in the FTX cryptocurrency exchange bankruptcy scandal when it emerged that the US Department of Justice seized hundreds of millions of dollars of the company's shares tied to FTX founder Bankman-Fried. Despite these challenges, Robinhood successfully bought back the missing stock, and its impact on democratizing finance remains undeniable.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Some candidates hear
back within 2 weeks
39% female employees
-23% employee growth in 12 months
Company
Funding (last 2 of 13 rounds)
Feb 2021
$2.4bn
CONVERTIBLE
Jan 2021
$1bn
LATE VC
Total funding: $5.6bn
Company benefits
- Well-being - Premium medical, dental, and vision insurance
- Family & home life - Parental leave, personal prosperity benefits
- Comfort & care - Annual lifestyle stipend
- Office life - Catered meals and fully stocked kitchen, commuter benefits
- Growth - Education and training, community events, career mentorships
Company values
- Safety First: Robinhood is a safety-first company
- Participation is Power: At Robinhood, the rich don’t get a better deal
- Radical Customer Focus: We exist to make our customers happy
- First-Principles Thinking: We make bold bets and challenge the status quo
Company HQ
Downtown Menlo Park, Menlo Park, CA
Articles
Leadership
Vlad Tenev
(Co-Founder)Studied Mathematics at Stanford University, where they met their fellow co-founder. Dropped out of a PhD to start Robinhood.
Baiju B.
(Co-Founder)Studied Mathematics and Physics at Stanford University, where they met their fellow co-founder.
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