Manager - Model Risk

2 weeks ago

Gurugram, India FRI FIL India Business and Research Services Private Limited Full time

Description

Global Risk:

The risk team in Fidelity covers the management oversight of Fidelity’s risk profile including key risk frameworks, policies and procedures and oversight and challenge processes. The team partner with the businesses to ensure Fidelity manages its risk profile within defined risk appetite.

The team is circa 120-strong, and growing, covering all facets of risk management including investment, operational, enterprise, and technology risk.

Enterprise Risk Management (ERM) Function:

The ERM function is lead from Singapore and the primary purpose of the ERM team is to ensure that the business is managing risk within its agreed risk appetite, and in accordance with ERM Framework in place. The ERM function is also responsible for capital management, key risk regulatory reporting, policy governance and the ERM framework. It also acts as the oversight function for model risk, strategic risk, financial risk, ESG risk and strategic ventures. The ERM team size is currently 35, and the Model Risk team size is 12.

Purpose of your role

A senior model validation professional with a primary responsibility for independently completing model validation exercise. This role requires a deep understanding of modelling (preferable asset management modelling experience), their underlying mathematics, and the technology used for implementation. The ideal candidate will possess a strong background in model validation or development within financial institutions or consulting firms. The Senior Manager will tackle challenges related to complex and extensive models and innovate solutions to support effective model risk assessment.

As Senior Model Validation Quant, this role focuses on engaging with business, i.e. model owner and developers in a model validation exercise, conducting in-depth validation analyses, identifying potential issues and communicate effectively to relevant stakeholders. Facilitate knowledge sharing and effective risk management to benefit the team and the wider business. while maintaining strict adherence to FIL's Model Risk Policy and procedures.

Key Responsibilities

To develop a strong understanding of FIL's Model Risk Policy and procedures and support education efforts with internal and external stakeholders Independently lead model validation exercises, applying rigorous analysis to assess model accuracy, robustness, and compliance with FIL's Model Risk Policy or other relevant regulations. Identify potential issues and discrepancies, and engage in open discussions with stakeholders to reach consensus on appropriate remediation actions. Translate complex technical findings into clear and actionable recommendations for both technical and non-technical stakeholders. Act as a subject matter expert, providing guidance and insights to model owners and developers, ensuring compliance with FIL's Policy and procedures. Stay abreast of current trends in asset management sector, and apply this knowledge to model validation processes. Stay informed about evolving model risk regulatory requirements related usage in various geographies and ensure compliance in model validations. Foster a collaborative environment within the Model Risk Team, promoting knowledge sharing and teamwork. Mentor and guide junior team members in their professional development.

Experience and Qualifications Required

Strong expertise in at least one of the following areas: usage of models in asset management, risk management, finance, ESG, AI/ML OR others (fair valuation, performance attribution). Minimum of 5 years of experience in quantitative modelling and model validation within the financial industry. Advanced degree (Ph.D. or Master's) in a quantitative field such as Mathematics, Statistics, Computer Science, or a related discipline preferred. Proficiency in programming languages such as Python, R, or MATLAB. Ability to demonstrate project delivery across model validation, model documentation will be highly advantageous. Hands-on mentality Excellent analytical, problem-solving and written skills. Strong people management skills and experience Excellent at providing innovative ideas and comfortable working under pressure Dedicated to maintaining high quality standards and client satisfaction

Feel rewarded

For starters, we’ll offer you a comprehensive benefits package. We’ll value your wellbeing and support your development. And we’ll be as flexible as we can about where and when you work – finding a balance that works for all of us. It’s all part of our commitment to making you feel motivated by the work you do and happy to be part of our team.

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