Job
Description
The Model Risk Management (MRM) team at First Citizens India is responsible for overseeing the MRM Framework, which includes policies, processes, and procedures. As a Lead Advisor in Model Risk Management, you will be tasked with conducting independent model validations to ensure that the models align with business objectives and design specifications. Your role will involve verifying that the models are performing as expected, identifying potential limitations, assessing potential impacts, and conducting annual reviews to ensure that the models are functioning as intended. Based at the First Citizens India office in Bangalore, you will report to the Associate Director of Model Risk Management, India, and collaborate with the global MRM team as their primary point of contact in India. Your responsibilities will encompass supporting all aspects of the global MRM program, ensuring that models are appropriately designed, implemented, and managed in accordance with regulatory standards and business requirements. Key Responsibilities: 1. **Comprehensive Model Validation**: Conduct thorough validations of various model components to ensure accuracy, reliability, and alignment with business objectives and regulatory requirements. 2. **Model Inputs Analysis**: Assess the quality, integrity, and appropriateness of data used in the models through data analysis techniques. 3. **Model Framework Evaluation**: Scrutinize the model design, construction, segmentation, variable selection, and testing procedures to ensure suitability for the intended use. 4. **Model Code Review**: Review model code for correctness, accuracy, and errors in collaboration with model developers. 5. **Outcomes Analysis**: Evaluate back test results, sensitivity testing, scenario testing, and performance metrics to assess model performance. 6. **Risk Identification and Mitigation**: Identify potential model risks, recommend mitigation measures, and enhance model quality and compliance with regulatory standards. 7. **Documentation and Reporting**: Produce high-quality validation reports that communicate findings, recommendations, and potential risks clearly to stakeholders. 8. **Audit and Regulatory Review Support**: Assist in providing materials to internal audit and regulators, drafting responses, and defending validations during exams. 9. **Continuous Learning and Improvement**: Stay updated on emerging trends in model validation and regulatory requirements, contribute to process improvements, and implement industry-leading methodologies. 10. **Stakeholder Engagement**: Interact with key stakeholders throughout the model lifecycle, including model users, owners, vendors, and validators. Skills Required: - Strong understanding of regulatory requirements, especially related to stress testing and capital planning. - Proficiency in statistical tools like Python and R, and using SQL for data extraction. - Excellent problem-solving, communication, and analytical skills. - Strategic planning, stakeholder management, and collaboration abilities. - Attention to detail, organization, and workflow management skills. Education and Experience: - Bachelor's or Master's degree in Statistics, Mathematics, Economics, or a quantitative discipline. - 4+ years of experience in model development, validation, or implementation in the financial industry. - Proficiency in statistical methods and programming languages. - Experience in model development or validation for various financial domains. - Knowledge of statistical and machine learning models in the banking sector. Join us at First Citizens India and contribute to our mission of providing solutions that align with our clients" greatest ambitions.,
