Navigating Model Risk From a Non-Bank and Third Party Perspective
In this session, the panelists will discuss managing models and their risks as non-bank entities. Topics will range from managing validation requests from multiple banks to dealing with the appropriate use of non-traditional data sources (including data sources from inside and outside of the large banks). In addition, the panel will discuss the challenges of managing the ROI of a model that balances the incremental benefits to the additional oversight that likely comes with changing or improving the modeling techniques.
About the speakers
Dr. Doug Hague
Dr. Doug Hague is the founding Executive Director of the School of Data Science at UNC Charlotte. He comes with deep industry experience in financial services, telecommunications, and aerospace and is currently the Chair of the State of North Carolina’s Innovation Council, a regulatory sandbox. His industry experience included the reporting, analytics, and data science for customer service call centers.
Dr. Hague’s research interests are split between sports analytics and methods for managing the bias and fairness of data science models. He teaches Analytical Storytelling and serves as the faculty mentor for students during their internships.
Prior to joining the university, Dr. Hague was Chief Analytics Officer for Bank of America's Merchant Services. During his time at BAMS, he chaired UNC Charlotte's industry advisory board for the Data Science Initiative. Dr. Hague earned a bachelor’s degree in Engineering Physics from the University of Tulsa, a master’s degree in System Design and Management from MIT, and a master’s degree and Ph.D. in Materials Science and Engineering from Penn State.
In his free time, Dr. Hague is a photographer of high school cross country and track and field. You can see his work on Instagram at @hague.doug
Joe DeCosmo
Joe joined Enova International in 2014. As Enova’s Chief Analytics and Technology Officer, Joe leads a multi-disciplinary analytics team that provides end-to-end data and analytic services including data warehousing, business intelligence, business analytics, fraud, credit risk and marketing. His team supports the global online financial services offered by Enova International through on-demand decision-making technology and real-time predictive analytics services. Joe also oversees Enova’s technology team, leading tech operations, software engineering, IT and product management.
Prior to working at Enova, he served as Director and Practice Leader of Advanced Analytics for Chicago-based West Monroe Partners. He has also held a number of executive positions at HAVI Global Solutions and the Allant Group. Joe received a B.A. in economics from Lewis University and an M.A. in economics from the University of Illinois at Chicago. He is a Past-President of the Chicago Chapter of the American Statistical Association and The Chicago Association of Direct Marketing and is on the Advisory Board of the UIC College of Business Administration.
Joe lives in the Chicago area with his wife and two daughters.
Kathleen Maley
Kathleen Maley is Vice President for Analytics Products for Experian Decision Analytics North America, where she leverages close to 20 years of deep expertise in business intelligence, analytics, predictive modeling, and machine learning to maximize the impact of business-centered analytical solutions.
An analytics thought-leader who charts the vision and course for modern analytics strategy, Kathleen has held various executive roles across the banking industry including regional banks in the Midwest and top-10 financial institutions like Bank of America.
Kathleen is a member of the International Institute for Analytics’ expert network, a volunteer statistician for Turner Syndrome Society of the United States, and a published writer and frequent speaker. She holds degrees in Mathematics from Bryn Mawr College and Applied Statistics from University of Michigan. Previously, Kathleen taught high school mathematics and statistics in Costa Rica, Mexico and China.
David McMichael
David McMichael holds the position of Vice President & Actuary with the Travelers Insurance Company. His duties include leading the enterprise Model Risk Management team and forecasting Risk Based Capital ratios.
With over two decades of experience in the insurance industry, David has spent much of his career leading teams in the development of predictive models for various functional areas. These include pricing, underwriting, claims fraud, and database marketing.
Before transitioning into business analytics, David was a tenured faculty member in the Mathematics Department at Florida State University. He holds a B.S. degree from the University of Kentucky, and M.A. and Ph.D. degrees from the University of Wisconsin-Madison, all in mathematics.
David is a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries. He serves on the Committee for Equity and Fairness and the Property/Casualty Risk Based Capital Committee of the Academy. Additionally, he is a member of the Analytics Leadership Consortium of the International Institute for Analytics.
David currently lives in the Hartford, Connecticut area with his wife and daughter.
In this session, the panelists will discuss managing models and their risks as non-bank entities. Topics will range from managing validation requests from multiple banks to dealing with the appropriate use of non-traditional data sources (including data sources from inside and outside of the large banks). In addition, the panel will discuss the challenges of managing the ROI of a model that balances the incremental benefits to the additional oversight that likely comes with changing or improving the modeling techniques.