47 NovoTree Minds Consulting Jobs
4-12 years
Credit Model Development & Validation Role - Model Risk Team (4-12 yrs)
NovoTree Minds Consulting
posted 2mon ago
Key skills for the job
About the Role
Model Risk team is involved in review, validation, maintenance and monitoring of regulatory or decision-making models/rule engines/ computation platforms in the areas of credit risk, operational and fraud risk and market/ liquidity risk across retail and corporate businesses.
Key Responsibilities
KRAs would include the following,
Perform validations in one or more of the below domains:
- Validation of new models or model upgrades coming from data sciences team (retail Application, Behavioral , Marketing scorecards/Collections models/Compliance and AML models)
- Monitoring of all existing scorecards
- Validation of regulatory models (PD/LGD/ CCF, IFRS 9, Economic Capital and Stress testing) and pricing models such as RAROC
- Validation/monitoring of EWS, corporate and SME models
- Validation of operational and fraud risk management models (Fraud/ DTM)
- Validation of market risk and ALM models
- Validation of system platforms for risk and lending models (e.g. for ALM, for Treasury and Market Risk for Operational and Compliance Risk, for Rating and Retail Scorecards etc.
- Active involvement in model governance activities such as framework updates, inventory maintenance, materiality assessment
- Develop and deliver training programs for validation staff and other stakeholders on model validation concepts and techniques.
- Participate in model governance committees and working groups and provide regular updates and recommendations to senior management.
- Preparation of reports and presentation materials for risk committees and senior management
- Any adhoc analysis pertaining to models and portfolios required by the CRO and risk management department
- Monitor and evaluate emerging risks and trends in model validation and provide guidance and recommendations to senior management and other stakeholders.
- Contribute to regulatory submissions and IA activities
Qualifications
Optimal qualification for success on the job is:
- Masters in Statistics/Quantitative Economics/Quantitative Finance/ MBA with a quantitative modeling background
- BE/B.Tech/Bstat/BSc Eco/ A Eco with suitable experience in analytical and risk management domains
Role Proficiencies:
- 6-12 years of experience of working in a team either as an individual contributor in one or more of the above mentioned or also managing a team of 1-2 people
- Experience in design and development of Statistical models using regression (logistic and ML/AI techniques such as GAM/ Machine learning/ Decision Trees), optimization, time series, survival modelling techniques will be an added advantage
- Strong conceptual knowledge in one or more of credit risk/market risk/ALM/ AML/ Fraud risk/ collections
- Hands on/demonstratable experience with SAS/Python/R
- In-depth knowledge of regulatory requirements related to model validation.
- Readiness to work with data at a granular level, write codes and create programs to undertake any analysis as required (while the person may have a small reporting team but he/she should be willing and able to extract , process data and generate metrics and insights himself/ herself)
- Basic understanding of different business lines and products/ processes in the bank (retail banking / corporate banking/ treasury etc.)
- Readiness to learn about new types of modeling methodologies/ new areas/ new concepts/ willingness to work out of comfort zone; be flexible rather than being a specialist in a particular domain or model type
- Should have excellent communication skills and ability to manage senior stakeholders across risk, modelling, audit and business verticals
- Should be a good team player
- Comfortable using excel, powerpoint, etc.
Functional Areas: Software/Testing/Networking
Read full job description4-12 Yrs