About Pagaya
Shape the Future of Finance
Pagaya is building a leading artificial intelligence network to help our partners grow their businesses and better serve their customers.
Pagaya powers a leading artificial intelligence network that enables banks, fintechs, merchants, lenders, and other B2C businesses to provide their customers with greater access to financial services. We help partners grow their customer base while managing risk, all with a seamless customer experience.
Pagaya’s network enables our partners’ customers access to credit across Auto, Credit Card, Personal loans, and Point of Sale markets. We are also developing products in insurance, real estate, and more. Our network is fully automated and operating at scale - with the support of the Pagaya network, our partners have processed millions of applications, with a new application typically analyzed every second.
Let's create better outcomes together!
About The Role
Model risk arises from potential adverse consequences when decisions are based on incorrect or misused model outputs and reports. This can lead to financial loss, erroneous business decisions, or reputational damage.
As part of the firm’s model risk management, the Model Risk Group is entrusted with performing model validation activities. The group responsibilities include offering guidance on a model’s appropriate usage in business contexts, evaluating ongoing model performance, and ensuring users are fully informed of a model's strengths and limitations.
As a Machine Learning Model Validator, you will play a vital role in supporting the Model Risk Group to mitigate model risks. Your role will encompass model validation activities such as identifying and diagnosing risks related to input data, assumptions, concepts, methodologies, implementations, and monitoring. Moreover, you'll address models' weaknesses, evaluate their potential impact, and suggest actionable solutions. You will also conduct independent tests on the models, delve into validation techniques (with a focus on ML models), and stay updated with the latest research concerning ML modeling and financial news.
Key Responsibilities

• Analyze risks related to input data, assumptions, concepts, methodology, process, and implementation.
• Review model documents, conduct independent tests to assess performance and limitations, and establish model assumptions.
• Suggest and develop alternative models to challenge and improve existing models.
• Provide expertise on models' strengths and weaknesses, and recommend practical solutions.
• Work closely with model owners and the MRM team to discuss validation results and strategize necessary changes.
• Stay updated on the latest research in ML credit risk modeling and financial news, ensuring that our practices align with industry standards.
  

Qualifications

• At least 3 years of experience in model validation or credit model development.
• BA/Master's degree in Statistics, Mathematics, Computer Science, Industrial Engineering, Information. System Engineering, Data Science, or related field.
• Strong analytical, numerical, research, and problem-solving abilities.
• Practical experience with predictive modeling/data science techniques.
• Proficiency in Python.
• Fluent in English, both verbal and written.
• Knowledge of SQL, risk, and finance is advantageous.
  

Our Team
Pagaya was founded in 2016 by seasoned research, finance, and technology entrepreneurs, and we are now 500+ strong in New York, Los Angeles, and Tel Aviv.
We move fast and smart, identifying new opportunities and building end-to-end solutions from AI models and unique data sources. Every Pagaya team member is solving new and exciting challenges every day in a culture based on partnership, collaboration, and community.
Join a team of builders who are working every day to enable better outcomes for our partners and their customers.
Our Values
Our values are at the heart of everything we do. We believe great solutions are built through a great community.

• Continuous Learning: It’s okay to not know something yet, but have the desire to grow and improve.
• Win for all: We exist to make sure all participants in the system win, which in turn helps Pagaya win.
• Debate and commit: Share openly, question respectfully, and once a decision is made, commit to it fully.
• The Pagaya way: Break systems down to their most foundational element, and rebuild them unique to Pagaya.
  

More than just a job
We believe health, happiness, and productivity go hand-in-hand. That's why we're continually looking to enhance the ways we support you with benefits programs and perks that allow every Pagayan to do the best work of their life.
Pagaya is an equal opportunity employer. Pagaya is encouraging diversity and actively seeking applicants from all backgrounds, as are committed to creating a diverse workforce together with an inclusive environment for all. Employment is decided on the basis of qualifications, skills, and business needs.