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Credit Risk

4 months ago


Gurgaon, India OakNorth Bank Full time

The incoming resource will independently develop and lead the entire model validation framework at Oaknorth bank

**Responsibilities**:

- Ability to independently develop and lead the entire model validation framework at Oaknorth bank
- Validating and documenting internal credit risk models of ON - PD/LGD/EAD/IFRS9 - one time and quarterly validation both qualitative and quantitative
- Validating vendor models of the bank, if any
- Building model validation governance framework as per regulatory requirements
- Working closely with model development team to understand model build and other business reporting
- Reporting the findings and suggesting quantitative and qualitative techniques for model enhancement
- Working with Risk and compliance team within the bank for model validation; working closely with external auditors and third parties to get the validation done
- Liaising with multiple teams and various business units across the firm for different risk management and stress testing initiatives.
- Coding in SAS/R/Python to enhance the current models and automating the processes.
- Analyzing, explaining and documenting the models and their results.
- Assisting in research, modelling and development for refinement of the current credit risk framework
- Communicating with stakeholders, internal audit, model validation, regulatory agencies and responding to their requests on a timely and accurate basis.

**Requirements**:

- 4-10 years of relevant experience at a financial institution or a consulting firm, preferably on a Quant/ Data Science role in a data-rich environment
- Preferably Master’s degree in a quantitative field such as Statistics, Mathematics, Operations Research, Economics, or Finance, or equivalent
- Experienced in developing/validating credit risk - PD/LGD/EAD/Stress testing models
- Experienced in provisioning as per IFRS9 implementation for banks
- Proficiency in programming and Advanced Statistical Techniques
- R/SAS/Advanced excel
- Analytical thinking, quantitative abilities and problem solving skills
- Understanding of risk management concepts like Stress-Testing, regulatory frameworks for Risk Management
- Attention to detail and ability to prioritize projects and workload
- Self-motivated team player who brings a “can-do” approach
- Ability to work well under pressure in a fast-paced team-oriented environment
- Strong communication skills; ability to present complex and technical issues clearly, both verbally and in writing

**Nice to have**:

- CFA/FRM will be an added advantage

About Us
- Banking should be barrier-free. It’s a belief at our very core, inspired by our entrepreneurial spirit, driven by the unmet financial needs of millions, and delivered by our data-driven tools.
- And for those who love helping businesses thrive? Our savings accounts help diversify the high street and create new jobs, all while earning savers some of the highest interest on the market.
- But we go beyond finance, to empower our people, encourage professional growth and create an environment where everyone can thrive. We strive to create an inclusive and diverse workplace where people can be themselves and succeed.
- Our story
- OakNorth Bank was built on the foundations of frustrations with old-school banking. In 2005, when our founders tried to get capital for their data analytics company, the computer said ‘no’. Unfortunately, all major banks in the UK were using the same computer - and it was broken.
- Why was it so difficult for a profitable business with impressive cashflow, retained clients, and clear commercial success to get a loan?
- The industry was backward-looking and too focused on historic financials, rather than future potential.
- So, what if there was a bank, founded by entrepreneurs, for entrepreneurs? One that offered a dramatically better borrowing experience for businesses?
- No more what ifs, OakNorth Bank exists.