Climate Risk Specialist

Role Description:

As a Climate Risk Specialist, you will be central to the execution and implementation of GIST Impacts climate stress testing and scenario modelling solutions, developed in alignment with Basel III/IV recommendations. You will provide expert leadership in identifying, measuring, and managing climate-related financial risks, ensuring compliance with evolving regulatory standards and supporting strategic decision-making for global banking clients. This role demands a unique blend of climate science acumen, advanced quantitative modeling skills, and deep experience in regulated financial environments.

Location: Mumbai

Job Duties and Responsibilities:

1. Framework Development & Integration

Lead the design, enhancement, and implementation of climate risk management frameworks, integrating both physical and transition risks into bank-wide risk processes.

Ensure frameworks align with Basel IV, IFRS 9, TCFD, NGFS, and other leading regulatory and industry standards.

2. Risk Identification, Assessment & Modelling

Identify, assess, and quantify climate-related risks across credit, market, and operational risk domains.

Develop and execute advanced climate scenario analyses and stress tests, leveraging both deterministic and stochastic approaches.

Build and validate credit risk models (PD, LGD, EAD) and valuation models for both equity and debt portfolios, incorporating climate risk factors.

Apply financial modeling techniques to assess the impact of climate scenarios on balance sheets, P&L, and capital adequacy.

3. Data Science & Analytical Tools

Design and deploy sophisticated analytical tools using Python and other programming languages for data manipulation, modeling, and visualization.

Integrate AI/ML techniques to enhance predictive accuracy and scenario analysis capabilities.

4. Regulatory Compliance & Stakeholder Engagement

Serve as the in-house expert on climate-related financial regulations, ensuring full compliance with global and local requirements.

Prepare regulatory submissions, respond to queries, and maintain proactive engagement with regulators.

Collaborate with business units (credit, market risk, corporate banking) to embed climate risk into daily decision-making.

5. Reporting, Disclosure & Thought Leadership

Oversee the preparation of high-quality internal and external climate risk reports and disclosures for senior management, boards, investors, and regulators.

Communicate complex climate risk concepts in a clear, actionable manner to diverse stakeholders.

Stay at the forefront of climate science, sustainable finance, and regulatory trends, driving continuous improvement and innovation.

Experience, Qualifications and Skills:

Experience: Minimum 8 years in climate risk, sustainability, or related roles within financial services or regulatory bodies.

Education:

• PhD or Masters degree in Climate Science, Data Science, Environmental Science, Energy, or related field; OR
• Master's or equivalent in Actuarial Science, Financial Engineering, Mathematics, or other quantitative disciplines.

Technical Expertise:

• Demonstrable experience in credit risk modeling, valuation modeling (equity and debt), and financial modeling in a banking or investment context.
• Advanced proficiency in Python for data analysis, modeling, and visualization; experience with other analytical tools (e.g., R, MATLAB, SAS) is a plus.

Certifications:

• GARP (Global Association of Risk Professionals) certifications such as FRM (Financial Risk Manager) are highly desirable.

Regulatory Knowledge:

• Deep familiarity with Basel III/IV, TCFD, NGFS, and other climate risk regulatory frameworks.

Analytical Skills:

• Strong quantitative and analytical capabilities, with proven experience in scenario analysis and stress testing.

Communication & Leadership:

• Excellent written and verbal communication skills; able to convey complex technical concepts to non-technical audiences.
• Demonstrated ability to lead cross-functional projects, influence stakeholders, and drive organizational change.

Other Attributes:

• Strong problem-solving skills, attention to detail, and ability to work both independently and collaboratively.

Note: This role offers a unique opportunity to shape the future of climate risk management in the financial sector, working at the intersection of science, technology, and sustainable finance.