AML Quant Specialist

10 hours ago

Chennai, Tamil Nadu, India Embarkgcc Services Full time ₹ 12,00,000 - ₹ 24,00,000 per year

SUMMARY

Job Title: AML Quant Specialist

Location: Chennai

Job Type: Full-time

Job Description:

Quant Specialists to validate and develop a diverse range of machine learning-driven quantitative models. These models address complex business challenges across multiple financial and non-financial risk domains (e.g.  market risk, credit risk, counterparty credit risk (CCR), liquidity risk, AML/financial crime). The role leverages advanced data analytics, automation, and cutting-edge techniques to enhance model accuracy and business insights.

Key Responsibilities:

Model Lifecycle Responsibility: Experience with either model development or model validation activities, ensuring robust model design, accurate performance assessment, and compliance with risk management frameworks and regulatory standards.

o Model Development: Responsible for designing, building, and maintaining quantitative models across various domains including business forecasting, pricing, risk assessment models, AML etc. Work spans multiple asset classes and business lines, leveraging advanced mathematical techniques such as stochastic processes, optimization, and statistical inference to address complex modelling challenges.

  • Model Validation: The specialist will be responsible for the independent quantitative review and rigorous challenge of all models across domains. This involves verifying conceptual soundness, assessing model assumptions, and evaluating implementation accuracy. Key activities include statistical performance testing, scenario analysis, sensitivity testing, and back-testing to ensure models meet defined risk coverage objectives and adhere to internal model risk management frameworks and regulatory expectations, while maintaining computational and operational viability.

Ongoing Monitoring Review: Responsible for periodically substantiating the ongoing fitness of models in accordance with a model's approved Ongoing Monitoring Plan ( OMP ). Assess model changes, model limitations, assumptions, process verification and outcomes analysis for each model. Identify trends in key metrics and provide critical analysis of model performance with respect to metric thresholds; identify threshold breaches and review documented remediation plans.

Regulatory Compliance and Reporting: Ensure all model validation/ development activities meet regulatory standards (e.g., Basel III/IV, FRTB) and internal governance policies. Prepare clear, concise development/ validation reports and presentations for risk committees, auditors, and regulators, articulating model limitations, assumptions, and validation outcomes.

Required Qualifications & Skills:

  • Educational Background: Bachelor's/Master's/PhD in Computer Science, Data Science, Mathematics, Statistics, Economics, Quantitative finance, or related fields.
  • Experience: years in model validation/ development, Machine Learning models
  • Strong analytical, problem-solving, and communication skills.
  • Mathematical and Statistical experience: Probability theory, Linear algebra, optimization, Time series analysis, Statistical modelling, and inference
  • Strong programming skills in Python, R, and SAS.
  • Proficiency in data visualization tools (Power BI, Tableau, Matplotlib, Seaborn).
  • Advanced excel skills, excellent written and verbal communications, ability to manage multiple timelines and deliverables, knowledge of Model Risk Development Lifecycle (preferred).
  • Vendor tools Moody's products, Bloomberg, Murex, NICE Actimize (Good to have).

Good to have qualifications:

  • Knowledge of Financial Risk Management is an added advantage.
  • CQF/ FRM/ Actuary

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