Who we are: Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal’s 375 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies.
Job Description Summary: The Data Scientist 1 role will be part of the First Line of Defense Model Risk Controls function responsible for managing the approval process of all models used across the credit lifecycle in the Global Credit Risk business within PayPal as well as conducting ongoing model performance monitoring. These activities are governed by external regulatory guidelines on Model Risk Management (MRM) and the enterprise-wide MRM policies and procedures. Duties include reviewing statistical model constructs, guiding model developers and model owners in preparing model documentation per the MRM standards, ensuring that the models are approved by all Second Line oversight teams and conduct regular monitoring of model performance. Detailed responsibilities are listed below.
Independently manage the new model approval/review process for all models spanning across the credit lifecycle used in Global Credit Risk business per the enterprise-wide MRM standards. This includes marketing, underwriting, account management, collections and CECL/IFRS-9 models.
Act as a primary liaison between model developers, Second Line of Defense teams (and model owners) to guide the model approval process and ensure that models are developed and documented per the MRM, Legal, Compliance and Fair Lending standards as well as other Consumer Protection and Fair Lending laws across the US and other countries.
Demonstrate a good understanding of advanced statistical techniques used for model development including numerous Machine Learning algorithms.
Effectively communicate and coordinate between all stakeholders in the model governance process to ensure timely approval and review of models used by the Business.
Conduct ongoing performance monitoring of all models to ensure models continue to perform as expected.
Present results of performance monitoring with various stakeholders while performing deep dives into any issues observed if any.
- Bachelor’s / Master’s degree in quantitative area strongly preferred – including mathematics, statistics, engineering, computer science, economics or finance
4+ years’ experience in model development or model validation / model risk management in consumer and/or business financing credit risk.
Excellent written and oral communication skills as well as interpersonal skills
We're a purpose-driven company whose beliefs are the foundation for how we conduct business every day. We hold ourselves to our One Team Behaviors which demand that we hold the highest ethical standards, to empower an open and diverse workplace, and strive to treat everyone who is touched by our business with dignity and respect. Our employees challenge the status quo, ask questions, and find solutions. We want to break down barriers to financial empowerment. Join us as we change the way the world defines financial freedom.
PayPal provides equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, pregnancy, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, PayPal will provide reasonable accommodations for qualified individuals with disabilities.