About the role

Staff Model Risk Specialist governing machine learning and GenAI applications for Upstart, an AI lending marketplace. Evaluating model risks, controls, monitoring, and regulatory governance for Upstart Bank.

Responsibilities

Partner with Machine Learning teams, GenAI application developers, business sponsors, and other stakeholders to maintain model and GenAI application inventories, risk assessments, documentation, monitoring reports, and governance materials.
Review methodologies, assumptions, data inputs, system designs, performance measures, controls, and limitations to provide effective challenge and identify remediation needs.
Evaluate quantitative methods and technologies ranging from traditional statistical and financial models to complex machine learning models and GenAI applications.
Conduct and document model risk assessments, monitoring reviews, and targeted quantitative analyses supporting internal policies and regulatory expectations.
Develop practical governance approaches for new and evolving machine learning and GenAI technologies.
Respond to model- and GenAI-related questions from regulators, lending partners, and external stakeholders in collaboration with Machine Learning, business, Legal, Compliance, and partner-facing teams.
Track model risk issues, remediation plans, program goals, and emerging risks; escalate material findings and recommend improvements.
Independently execute core components of Upstart Bank’s model risk management program across lending, fraud, compliance, finance, capital and liquidity, servicing, and operational risk models.

Master’s degree in a quantitative field such as finance, mathematics, economics, statistics, or a related discipline
4+ years of experience in model risk management, model validation, model governance, machine learning, data science, quantitative risk, AI governance, or a related technical risk function
Internship or project experience related to model risk management, model validation, machine learning, or data science
Basic understanding of AI/ML methodologies such as tree-based models and neural networks
General familiarity with GenAI applications
Experience coding in R, Python, or similar languages such as Matlab
Preferred: PhD in a quantitative field
Preferred: 5+ years of experience in model risk management or model governance or related fields
Preferred: Familiarity with GenAI evaluation approaches, prompt and system design, retrieval-augmented generation, tool use, guardrails, and ongoing monitoring
Preferred: Experience assessing models outside credit underwriting
Preferred: Advanced coding skills in R, Python, and SQL, and experience using Git
Preferred: Knowledge of consumer lending, credit risk, model fairness, explainability, or machine learning and GenAI in regulated environments

Competitive compensation, including base pay, bonus opportunities, and annual equity grants that vest quarterly
401(k) or Group Retirement Savings Plan with a company match of $2 for every $1 contributed, up to $15,000 annually
Employee Stock Purchase Plan (ESPP) with discounted stock purchase options for eligible employees (US only)
Comprehensive health coverage, including medical, dental, vision, wellness resources for US, and supplemental health coverage for Canada
Health Savings Account contributions from Upstart for eligible plans (US only)
Life insurance and disability coverage
Paid time off, sick leave, and company holidays
Paid family and parental leave
Family-centered fertility, parenthood, and caregiving benefits
Employee Assistance Program offering mental health support and life-centered resources
Financial wellness resources, including financial planning tools and financial concierge service (US only)
Annual wellness allowance
Annual productivity allowance for relevant tools and resources
Team events, all-company updates, and employee resource groups (ERGs)
Catered lunches and fully stocked micro-kitchens when working from offices
Flexible remote work through Upstart’s digital-first philosophy