JOB DESCRIPTION

Job Purpose / Summary:

· Lead the validation and governance of risk models across multiple domains including credit, market, operational, and liquidity risk.

· Prepare validation reports for senior management and board committees and coordinate with auditors and regulators during reviews.

· Ensure that models are conceptually sound, regulatory-compliant, and aligned with the bank’s risk appetite and control framework

· Enhancing internal model risk standards and managing model risk across the institution. as per RBI guidelines.

Duties and Responsibilities:

· Oversee validation of models in scope, including (for new models and periodic review of existing models)

· Provide effective review and challenge whether models are performing as expected, in line with their design objectives and intended scope and purpose, and working with model developers, Senior Model Users, and Model Owners to improve models, where required.

· Provide oversight of the models in scope to enable model risk is kept within the set appetites and limits and supports model risk governance related activities.

· The issuance of Validation Findings and subsequent review for closure following model developers and Model Owners’ submission

· The Model Validator must document the model validation in a Model Validation Report with provision of documented decision of the appropriateness of a model for its intended purpose, advising on conditions for use, limitations, and findings where appropriate.

· Overseeing the remediation of internal and regulatory findings relevant for the covered models / areas.

· Oversee the management and maintenance of Model Risk management Register and Model Risk control framework to ensure both internal and regulatory compliance, delivering remediating action where gaps in the control framework are identified.

· Contribute to model standards enhancements across the department.

Experience / Skillset / Certifications Required:

· 5+years of experience in model development or validation in a financial institution.

· Educational Qualification- Master’s in Quantitative Finance, Statistics, Mathematics, Economics, MBA, CA or related field with Strong understanding of risk modelling techniques.

· Managed and provided adequate guidance on project deliverables.

· As a Lead Validator should have in-depth knowledge about Models and Tools related to following Risk functions, preferably.

· Excellent analytical, problem-solving, and communication skills.

· Create Model Risk specific MIS and Perform benchmarking, backtesting, and sensitivity analysis.

· Proficiency in Python (preferably) and/or other tools such as R, SAS, MATLAB; SQL knowledge is a plus. Familiarity with machine learning techniques in risk modelling.

· Ability to work independently and manage multiple priorities.

· Effective stakeholder management and cross-functional collaboration.

Recommended By:

Approved By: