Rachel Malacrida

About Rachel Malacrida

Rachel is a Director, Risk Modeling at Santander Bank, N.A. She is the Head of Model Development Governance and Department Project Oversight. Her primary interests are economics, financial analysis, model risk management, and global development. Previously, Rachel was an Analyst at the Federal Reserve Bank of Philadelphia for the Retail Risk Analysis Group in the Supervision, Regulation and Credit Department and worked in the Economics Department at the Office of the Comptroller of the Currency. Rachel also interned at the Overseas Private Investment Corporation, the United Nations and for a United States Congressman, as well as served as Lehigh University’s Youth NGO Delegate to the United Nations. She was the Executive Print Editor (Thesis Edition) of The Georgetown Public Policy Review. Rachel has a Master of Public Policy from Georgetown University and attended Lehigh University, where she double majored in Global Studies and Religion Studies, and double minored in Health, Medicine, and Society and History of the Visual Arts.

Experience

1. Director, Risk Modeling Head of Model Development Governance & Department Project Oversight

   Santander US

   Dec 2023 — Present · New York, NY, US

   As Head of Model Development Governance and Department Project Oversight, led enterprise-wide model development governance, overseeing the governance framework, model lifecycle oversight, supervisory engagements, team leadership, and department-wide initiatives.• Directed enterprise-wide Model Development Governance, including standards, procedures, templates, and exception management across the model lifecycle.• Managed and developed the Model Development Governance Team and external contractors to support department-wide initiatives.• Owned and maintained the Model Development Governance Framework, ensuring alignment with regulatory guidance, supervisory expectations, and internal risk policy.• Served as primary liaison for regulators and internal audit, coordinating responses to successfully complete multiple, concurrent supervisory reviews and examinations.• Acted as project manager for internal and external Model Development initiatives, overseeing deliverables across multiple workstreams and stakeholders.• Designed and implemented centralized archival processes for model documentation and code, strengthening audit readiness, traceability, and supervisory compliance.• Prepared and presented executive-level reporting on governance risks, issues, remediation progress, and control effectiveness for senior management to ensure buy-in and alignment.• Supported end-to-end model lifecycles, including credit risk (CCAR, DFAST, HCR, CECL, IFRS 9, risk ratings), market risk, and operational risk models.

Education

• Georgetown University McCourt School of Public Policy

  Master of Public Policy, Concentration in International Economic Policy

  2012 — 2014

• Lehigh University

  Bachelor of Arts (B.A.) with Honors, Global Studies; Religion Studies

  2008 — 2012