Senior Director, AI and Machine Learning Model Risk

Location:

We are seeking an experienced leader to head our Artificial Intelligence/ Machine Learning Model Risk Function. This role reports to the Chief Model Risk Officer and will be responsible for overseeing the governance, validation, and risk management of AI/Machine learning and Generative AI models. The ideal candidate will ensure compliance with regulatory requirements, industry best practices, and ethical AI principles. This individual will partner across 1st, 2nd, 3rd LOD, software engineering, Cyber, Legal, Risk and business teams to enable AI solutions in a manner that supports innovation and protects our customers, shareholders, and associates.

Key Responsibilities:
1. AI/ML/Gen AI Model Risk Governance & Strategy:
• Evolve current framework to be a comprehensive risk management framework for Artificial Intelligence/machine learning including GenAI models.
• Enhance policies, controls, and procedures to ensure responsible AI use and model integrity.
• Define risk appetite for AI/ML/GenAI and performance monitoring strategies.
• Build an organizational culture of risk awareness by developing training programs focused on the ethical and secure use of AI/ML/Generative AI.
2. Model Validation & Monitoring:
•  Provide oversight on the use of all AI models and their compliance with internal standards and regulatory requirements.
•  Lead independent validation of AI/ML/Gen AI models, ensuring robustness, fairness, explainability, and security.
•  Create validation playbooks to assess risks related to model bias, data drift, explainability, and ethical considerations.
•  Implement ongoing monitoring processes to detect performance degradation or unintended outcomes.
3. Compliance & Regulatory Alignment:
•  Keep abreast of AI/ML regulations (e.g., EU AI Act, U.S. AI Executive Order, Basel Model Risk guidelines).
•  Work closely with legal, compliance, and data privacy teams to address emerging AI risks and controls.
4. Cross-functional Leadership & Stakeholder Management:
•  Act as a subject matter expert and advisor to executive leadership on AI/ML risks.
•  Engage with regulators, industry groups, and academic institutions to stay ahead of AI risk trends.

Qualifications & Experience:
•  Advanced degree (master’s or PhD) in Computer Science, Data Science, Engineering, Mathematics, Statistics, or a related field.
•  At least 8 years of experience in Risk Management, Audit or Technology within the financial services. 
•  Strong understanding of machine learning, generative AI models, and their risks.
•  Strong programming skills in languages such as Python, R, and SQL.
•  Experience in regulatory compliance related to AI/ML (e.g., SR 11-7, OCC guidelines, AI ethics frameworks).
•  Proven leadership in managing cross-functional teams. 
•  Expertise in model validation techniques, adversarial AI risks, and bias mitigation.
 

COMPENSATION AND BENEFITS

This position is eligible to earn a base salary in the range of $200,000 to $250,000 annually depending on location and job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance.

Please click here for a list of benefits for which this position is eligible.

Key has implemented a role-based Mobile by Design approach to our employee workspaces, dedicating space to those whose roles require specific workspaces, while providing flexible options for roles which are less dependent on assigned workspaces and can be performed effectively in a mobile environment. As a result, this role may be Mobile or Home-based, which means you may work primarily either at a home office or in a Key facility to perform your job duties.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.

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