Quantitative Modeling and Analytics Expert Witness
Dr. Mays has led large-scale model development and oversight functions for some of the largest banks in the US, with responsibility for overseeing credit risk evaluation and decisioning models and fraud detection models used in high-stakes financial decision-making.
Dr. Mays has deep expertise in evaluating the design, performance, and limitations of statistical and machine learning models, including the appropriateness of methodologies, data integrity, feature selection, and model validation practices. She is particularly experienced in assessing whether model outputs are reliable, reproducible, and supported by sound empirical evidence, as well as whether stated model capabilities are consistent with underlying methodologies and results.
Her work has included building and overseeing independent validation frameworks aligned with banking regulatory guidance, with a focus on identifying model weaknesses, unsupported or inappropriate assumptions and methodologies and deficiencies in documentation or model testing and monitoring. She has also advised on the risks associated with vendor-provided models, including the evaluation of model transparency and performance claims.
Dr. Mays is known for her ability to analyze complex technical materials—including model documentation, research papers, and public disclosures—and translate them into clear, evidence-based conclusions regarding model performance, limitations, and risk. Her recent work has focused on the governance of AI and machine learning models, including the evaluation of claims made about their capabilities in consumer lending, fintech platforms, and other data-driven applications.
She advises financial institutions, fintech companies, and others on predictive model development and evaluation practices and model and AI governance frameworks used in business decision-making.
EXPERTISE
Model Risk Management
Consumer Credit Scoring
Independent Model Validation
Statistical and Machine Learning Model Development, Use, and Testing
EDUCATION
University of Cincinnati
Ph.D., Economics
University of Cincinnati
Bachelor's Degree, Economics
WORK HISTORY
SEDA Experts
Managing Director
2026-Current
Model Management Advisors LLC
Founder
2024-Current
PNC Financial Services
EVP and Chief Model Risk Officer
2011-2024
JPM Chase
SVP and Head of Consumer Risk Modeling
2002-2011
Citi
SVP and Head of Consumer Model Development
1997-2002
Contact
Elizabeth Mays, Ph.D.
1185 Avenue of the Americas
New York, NY 10036
+1 646-626-4555

_edited.png)
