Risk Assessment Specialist

2 days ago

Bengaluru, Karnataka, India beBeeValidator Full time ₹ 1,20,00,000 - ₹ 2,50,00,000
About the Job

Model risk management is crucial to prevent adverse consequences from incorrect or misused model outputs and reports.

  • Financial loss, poor business and strategic decision-making, or damage to a banking organization's reputation can occur due to model risk.

Validation of models is essential to verify that they perform as expected, in line with their design objectives and business uses.

The candidate will report to the Model Validation Manager in India as part of the Model and EUCC Risk Center of Excellence.

This team supports the Model and EUCC Risk Management team of the Americas, responsible for enterprise-wide model validation and control functions to ensure the continued safety and soundness of bank models.

Americas Model Risk Management touches models across all lines of businesses in the Americas, providing opportunities for the candidate to work in validation across various areas of the bank.

Key Responsibilities
  • Conduct independent testing and document validation results, including analyzing statistical data, assessing model conceptual soundness, evaluating data and assumptions, testing computational accuracy, and performing outcomes analysis (back-testing and benchmarking).
  • Create findings as required, recommend management action plans, and validate remediation activities.
  • Evaluate model changes to ensure continuous performance.
  • Collaborate with Model Owners to establish monitoring metrics and thresholds.
  • Assess model performance reports on an ongoing basis to ensure models meet performance requirements.
  • Consult with model owners and users on effective model operational controls.
  • Execute activities in compliance with the Americas Model Risk Management Policy and Procedure, aligned with US regulatory expectations.
  • Maintain alignment with counterparts in the Americas through regular interactions.

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