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Elizabeth Mays, Ph.D.
SEDA Experts

Elizabeth Mays, Ph.D.

Managing Director

Elizabeth Mays Ph.D., is a quantitative modeling and analytics expert with more than 30 years of experience in banking, specializing in model risk management, predictive modeling, and the governance of statistical and machine learning systems.

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

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Contact

Elizabeth Mays, Ph.D.

1185 Avenue of the Americas
New York, NY 10036

+1 646-626-4555

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