Senior Manager-Model Risk

3 days ago

Bengaluru, Karnataka, India Mashreq Bank Full time ₹ 8,00,000 - ₹ 24,00,000 per year
Description

Senior Manager - Model Risk Management

The primary role of the incumbent is to conduct and manage the end-to-end validation and governance of models across the bank, in line with regulatory requirements. The role requires regular coordination with stakeholders, management of the Model Oversight Committee, maintenance of the model inventory, and supervision/training of junior team members. The incumbent will work closely with the Head of MRM to ensure all model risk related regulatory requirements are met.

Responsibilities
  • Manage and conduct validation/governance activities related to models used across the bank, including Credit, Market, Operational, AML, Marketing and other non-risk models. Examples of models include: PD, EAD, LGD, Stress Testing, IFRS9, VaR/PSRE/CVA etc.
  • Maintain the Model Inventory and assist in regular reporting of model risk
  • Prepare responses to questions/findings from Audit and/or Regulators. 
  • Manage stakeholder interaction with model developers and business owners during the model life cycle.
  • Prepare and/or review validation reports to ensure they meet regulatory guidelines and best industry standards.
  • Review model validation reports published by external vendors to ensure compliance to Model Risk Management policy.
  • Review adherence to Model Risk Management policy and regulatory requirements for each model listed in the inventory.
  • Active participation in activities related to Model Oversight Committee.
Qualifications
  • 5-8 years of experience in the BFSI sector with understanding of risk management and modelling processes. Experience should specifically be in a quantitative role in either model development or validation areas.
  • Bachelor's in Statistics, Mathematics, Quantitative Finance, Engineering, or related fields.
  • Practical experience with handling large datasets and building/testing models using Python, R, and SAS. 
  • Good knowledge and understanding of a variety of model development and validation testing techniques covering risk and non-risk models
  • Excellent writing and communication skills in order to produce/finalize high quality validation reports and present them to various types of audiences.
  • Demonstrated project management and organizational skills and capability to handle multiple projects at one time
  • Outstanding interpersonal skills, to manage relationships with various stakeholders including model developers, business users, external consultants etc.

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