Manager-Model Validation

About Us:

MUFG Bank, Ltd. is Japans premier bank, with a global network spanning in more than 40 markets. Outside of Japan, the bank offers an extensive scope of commercial and investment banking products and services to businesses, governments, and individuals worldwide. MUFG Banks parent, Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the worlds leading financial groups. Headquartered in Tokyo and with over 360 years of history, the Group has about 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

The Group aims to be the worlds most trusted financial group through close collaboration among our operating companies and flexibly respond to all the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFGs shares trade on the Tokyo, Nagoya, and New York stock exchanges.

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MUFG Global Service Private Limited:

Established in 2020, MUFG Global Service Private Limited (MGS) is 100% subsidiary of MUFG having offices in Bengaluru and Mumbai. MGS India has been set up as a Global Capability Centre / Centre of Excellence to provide support services across various functions such as IT, KYC/ AML, Credit,Operations etc. to MUFG Bank offices globally. MGS India has plans to significantly ramp-up its growth over the next 18-24 months while servicing MUFGs global network across Americas, EMEA and Asia Pacific

About the Role:

The use of models presents model risk, which is the potential for adverse consequences from decisions based on incorrect or misused model outputs and reports. Model risk can lead to financial loss, poor business and strategic decision-making, or damage to a banking organizations reputation.Model validation is the set of processes and activities intended to verify that models are performing as expected, in line with their design objectives and business uses.

The candidate will report to the Head of Model and EUCC Risk in MGS India as part of the Model and EUCC Risk Center of Excellence. This team works to support the Model and EUCC Risk Management team of the Americas which is responsible for the enterprise-wide model validation and control function to ensure the continued safety and soundness of models used across the bank. Americas Model Risk Management touches models across all lines of businesses in the Americas and the candidate will have opportunities to work in validation across all areas of the bank.

This is a hands-on role with the additional responsibility for leading a team of 2-4 validators.

Roles and Responsibilities

• Independent testing and documenting validation results, including analyzing and interpreting statistical data, assessments of model conceptual soundness, evaluation of data and assumptions, testing model computational accuracy, and performing outcomes analysis (such as back-testing and benchmarking).
• Create findings as required, recommend management action plans, and validate remediation activities.
• Assess model changes to ensure continued performance of the model.
• Work with Model Owners to establish appropriate monitoring metrics and thresholds. Assess model performance reports on an ongoing basis to ensure models continue to meet performance requirements.
• Consult with model owners and users on the design of effective model operational controls.
• Execute activities in compliance with the Americas Model Risk Management Policy and Procedure as aligned to US regulatory expectations.
• Manage a team of validators, ensuring the quality, compliance, and timeliness of deliverables.
• Interact with counterparts in the Americas to remain aligned with program requirements.

Job Requirements

• 8 - 10 years of experience, preferably within the financial services industry.
• Proven track record of strong technical model development or model validation with experience with models and modeling techniques in one or more of the following areas:
  • Market Risk
  • Counterparty Credit Risk
  • Wholesale Scorecards and Economic Capital
  • Capital Planning and Stress Testing
  • Financial Crimes, Compliance, Fraud
• Knowledgeable of model risk management and associated US regulatory requirements such as OCC , FRB SR 11-7 is required.
• Excellent verbal / written communication and people management skills.
• Experience with managing and leading a small team to high performance standards.
• Experience working with offshore partners preferred.
• Bachelor 's degree in Economics, Finance, Business (MBA), Financial Engineering, Mathematics, Statistics or a related field (or foreign equivalent degree). Advanced degree preferred.

Technology

• Proficiency in one or more of the following tools: SAS, Python, R, MATLAB, C, SQL, Visual Basic, Bloomberg
• Academic or industry experience with exposure to the use of Artificial Intelligence (AI) and Machine Learning (ML) are preferred

Equal Opportunity Employer:

The MUFG Group is committed to providing equal employment opportunities to all applicants and employees and does not discriminate on the basis of race, colour, national origin, physical appearance, religion, gender expression, gender identity, sex, age, ancestry, marital status, disability, medical condition, sexual orientation, genetic information, or any other protected status of an individual or that individual's associates or relatives, or any other classification protected by the applicable laws.