Model Risk Audit

2 days ago

Navi Mumbai, Maharashtra, India Skillventory Full time ₹ 12,00,000 - ₹ 36,00,000 per year

Role & responsibilities

  • 6+ years of relevant exp in Wholesale or retail credit risk modeling (development or validation). BASEL, Internal rating based approach (IRB) mandatory; PD, LGD, EAD models. Retail scorecard model development / validation experience.

About the Role

  • The candidate should have masters degree in Statistics, Econometrics, or a related quantitative field. Proven experience in Risk Modelling/Model validation and proficiency with statistical modelling software (Python, R & SAS) is desired.

Key Responsibilities

  • Model Risk specialist, in close collaboration with Risk Audit team members will execute audits and other model risk audit related activities to ensure efficient and high quality audit execution for critical models in use at the Bank.

  • The internal audit role would include the following as part of the day-to-day job

  • Audit of model development and validation process within the Bank.

  • Updating risk and control matrix and checklist for audits being undertaken.
  • Undertaking detailed walkthrough of the processes being audited and develop data request for the audit
  • Updating of internal audit MIS with the status of audit observations and other actionable emanating to the audit department
  • Assisting in making presentations to senior management and audit committee on the audits undertaken and performance of internal audits
  • Provide necessary support in automating tests used in audit execution for achieving Continuous Control Monitoring (CCM)

Preferred candidate profile

  • A master's degree in Statistics, Mathematics, or related fields.
  • 7 - 12 years of experience in the financial services industry, preferably with model development, validation, model risk audit, data analytics. Understanding of Risk Management processes like Market, Credit , Operational, ALM, Capital adequacy, Fraud is good to have but not essential.
  • Demonstrate good understanding of model risk function.
  • Knowledge of various modelling techniques used in the banking industry.
  • Experienced with various programming languages used in risk modelling.
  • Drafting of detailed audit reports with assessment details, preparation of supporting workpapers, clearly documenting the observations noted with implications and recommending corrective actions to auditee.
  • Coordinating and supporting the Banks compliance team during RBI Audits and other external audits.
  • Good communication (both verbal & written) and inter-personal skills.
  • Ability to work as a part of team and contribute towards team goals.

Qualifications:

Optimal qualification for success on the job is:

  • Knowledge of SR 11-7 guidelines and its implementation for the model governance
  • Experience in development and validation of statistical models in use across banks, primarily for the purpose of Credit underwriting and measurement & management of Credit Risk, Market & ALM Risk, ICAAP & Stress testing etc.
  • Previous work experience in Risk Analytics or Model Risk team of a bank or Risk advisory team of leading consulting firm with majority of time allocated on developing or validating statistical/econometric models
  • Proficiency in statistical modeling software R, Python, SAS & SQL is an added advantage
  • Excellent written and verbal communication skills

  • Credit Risk Model Development\Validation

    4 days ago

    Mumbai, Maharashtra, India BIG4 Full time ₹ 12,00,000 - ₹ 36,00,000 per year

    Role: Assistant Manager \Manager - Credit Risk ModellingJob Location: Gurgaon/ Bangalore/ MumbaiWe have an exciting opportunity for an Assistant Manager\Manager to join ourCredit Risk Assurance team.We are a specialist function within Audit Practice whose purpose it is to review and challenge complex statistical models used within audited entities as part of...

  • KRC | Audit | Germany FRC | Risk | AM | Mumbai

    2 weeks ago

    Mumbai, Maharashtra, India BSR & Co Full time ₹ 15,00,000 - ₹ 25,00,000 per year

    DescriptionKPMG Resource Centre (KRC) is a team of 3,000+ colleagues serving audit clients of primarily KPMG Europe and a few other countries. KRC's services include end-to-end Audits, IT Audits, Data Analytics, Engagement Support Hub, Transaction Assurance and ESG, among others. The business supports multiple sectors and is currently present in...

  • Rates Model Risk Associate/VP

    2 weeks ago

    Mumbai, Maharashtra, India JPMorganChase Full time ₹ 20,00,000 - ₹ 40,00,000 per year

    DescriptionWe are looking for a new member to join our Interest Rates team in the Model Risk Governance and Review Group which is responsible for end-to-end model risk management across the firm. As a Quant Model Risk Associate/VP you will assess and help mitigate the model risk of complex models used in the context of valuation, risk measurement, the...

  • Risk Analyst

    5 days ago

    Navi Mumbai, Maharashtra, India Sitara (SEWA Grih Rin Limited) Full time ₹ 4,00,000 - ₹ 12,00,000 per year

    Role Objective:To support the company's risk management framework by identifying, assessing, and monitoring credit, operational, and portfolio risks, ensuring effective controls and compliance with internal policies and regulatory guidelines.Key Responsibilities:Credit Risk Analysis:Evaluate borrower profiles, financial documents, income surrogates, and...

  • Risk Management

    7 hours ago

    Mumbai, Maharashtra, India Nomura Full time ₹ 8,00,000 - ₹ 24,00,000 per year

    Nomura Overview:Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment Management, and Wholesale (Global...

  • Audit Executive

    6 days ago

    Navi Mumbai, Maharashtra, India SKA Full time ₹ 12,00,000 - ₹ 36,00,000 per year

    The Role: Role: Authorised Person AuditIndividuals are responsible for conducting audits of Authorized Persons (AP) of stockbrokers.Meaning of AP: It is an individual or entity appointed by a registered stockbroker to facilitate trading and related activities on their behalf. They act as an intermediary between the stockbroker and clients.Key...

  • Internal Audit Professional

    23 minutes ago

    Navi Mumbai, Maharashtra, India Jobuss Resources Full time ₹ 9,00,000 - ₹ 12,00,000 per year

    Conduct plant operations audits, project execution audits, technical assessments, contract management reviews, risk assessment for 6-month assignment. Required Candidate profileB.Tech/M.Tech (Non-IT) with 5+ years in project execution, project planning, internal audit, plant operations audit, strong technical background.

  • Data Scientist/Risk Modeling Analyst

    2 days ago

    Mumbai, Maharashtra, India ACER Credit Rating Pvt. Ltd. Full time ₹ 15,00,000 - ₹ 25,00,000 per year

    Job Title: Data Scientist (Finance & Statistics)Location: BKC, MumbaiDepartment: Credit Risk ModelingReporting To: Team LeadEmployment Type: Full-timePreferred Availability:Immediate Joiner**Preference will be given to candidates who can join immediately**Position OverviewAt ACER Credit Rating, we are dedicated to providing transparent, independent, and...

  • Audit and compliance

    2 days ago

    Navi Mumbai, Maharashtra, India eClerx Full time ₹ 9,00,000 - ₹ 12,00,000 per year

    Role & responsibilitiesExperience in IS Audit and ImplementationExposure to ISO20000/SSAE-18/SOX-ITGC/PCIDSS/GDPRMust have worked in IS/IT Risk ManagementMust have any one of the Certifications CISA/CISM/CRISC and ISO27001:2013LAMust have CEH Certification and relevant experienceMust have understanding of IT Infrastructure and TechnologiesKnowledge about...

  • Risk Model Development Analyst II

    1 week ago

    Mumbai, Maharashtra, India Citi Full time ₹ 12,00,000 - ₹ 36,00,000 per year

    Discover your future at CitiWorking at Citi is far more than just a job. A career with us means joining a team of more than 230,000 dedicated people from around the globe. At Citi, you'll have the opportunity to grow your career, give back to your community and make a real impact.Job OverviewThe Model/Anlys/Valid Analyst II is a developing professional role....