6 Stochastic Modeling Jobs

As a member of the Internal Audit Model Risk team, you will be responsible for the execution of audits related to model risk management . This requires effective time management and adherence to the department's internal audit methodology. You will support the project manager in defining and executing the audit scope through walkthroughs and discussions with various modeling and model validation teams. Furthermore, you will present and discuss audit findings with both local and global management within the firm. Specific Responsibilities Develop and maintain an in-depth technical knowledge of modeling encompassing both theory and coding. Critically review models , including their conceptual soundness, documentation, code implementation accuracy, and independent validation. Conduct meetings with stakeholders , including modelers and model validators. Execute risk-focused audits of modeling and model risk management. Engage in continuous monitoring of modeling and model risk areas. Communicate modeling problems and issues to senior management. Basic Qualifications Advanced Degree (preferably Master's) in a quantitative discipline (Math, Statistics, Economics, Physics, Engineering, Computer Science). 2-5 years of experience in model development, independent model validation, or model risk audit . Model risk management knowledge , including model risk governance, model development, implementation, testing and change management, and model validation. Team-oriented with a strong sense of ownership and accountability . Strong leadership, interpersonal, and relationship management skills . Strong verbal and written communication skills and presentation skills (PowerPoint, Visio, etc.). Highly motivated with the ability to multi-task and remain organized in a fast-paced environment. Preferred Qualifications Experience within the financial services industry is a plus . Knowledge of financial modeling concepts , including (any combination): Options pricing, credit default, structured products, econometrics, stress scenario creation. Any combination of risk management disciplines: credit risk, market risk, operational risk, funding/liquidity risk. Programming experience in quantitative and object-oriented languages .

Perform validation and approval of the firm's models by verifying conceptual soundness, methodology, and implementation, and by identifying limitations and uncertainties Assess and quantify model risk by developing alternative benchmark models Oversee monitoring of ongoing model performance Communicate validation outcomes to key stakeholders and management SKILLS AND RELEVANT EXPERIENCE Excellent quantitative problem solving skills Experience in stochastic modeling, numerical simulation, and data analysis Machine learning knowledge Good communication skills with the ability to explain complex problems in a simple way Eagerness and ability to learn new technologies and programming languages Excellent organizational skills Team orientation and ability to work in a fast paced environment

This business is ideal for collaborative individuals who have strong ethics and attention to detail. Whether assessing the creditworthiness of the firm s counterparties, monitoring market risks associated with trading activities, or offering analytical and regulatory compliance support, our work contributes directly to the firm s success. The MRM group looks for people with strong quantitative and technical backgrounds and a strong interest in financial markets. We seek bright and dynamic individuals with a degree in quantitative fields such as math, physics, engineering, computer science, or financial engineering. RESPONSIBILITIES Perform validation and approval of the firm s models by verifying conceptual soundness, methodology, and implementation, and by identifying limitations and uncertainties Assess and quantify model risk by developing alternative benchmark models Oversee monitoring of ongoing model performance Communicate validation outcomes to key stakeholders and management SKILLS AND RELEVANT EXPERIENCE Excellent quantitative problem solving skills Experience in stochastic modeling, numerical simulation, and data analysis Machine learning knowledge Good communication skills with the ability to explain complex problems in a simple way Eagerness and ability to learn new technologies and programming languages Excellent organizational skills Team orientation and ability to work in a fast paced environment

The Risk Business identifies, monitors, evaluates, and manages the firm s financial and non-financial risks in support of the firm s Risk Appetite Statement and the firm s strategic plan. Operating in a fast paced and dynamic environment and utilizing the best in class risk tools and frameworks, Risk teams are analytically curious, have an aptitude to challenge, and an unwavering commitment to excellence. BUSINESS UNIT : The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, Dallas, London, Warsaw, Hong Kong, and Bangalore. The MRM group is responsible for independent oversight of Model Risk at the firm, ensuring compliance with Firmwide Policy on Model Control and related standards, including documentation to evidence effective challenge over the Model development, implementation and usage of Models. The group s primary mandate is to manage risk that arises from models used in the firm through its range of businesses- from models used for derivatives valuation to models used for risk management, liquidity and capital computations. In addition to independently reviewing these classes of models for their validity, theoretical consistency and implementation accuracy, the group is also responsible to assess the risk associated with model choice, eg, exposure to choice of model in various contexts such as pricing exotic options or in calculating capital. The analysis and reporting team is a new function within the MRM group that is responsible for analyzing, monitoring and reporting on model risk for the firm. The group works collaboratively with the model validation team to understand and communicate results of model validation activities, changes in model risk and other model-related issues to key stakeholders and management. WHAT WE LOOK FOR This business is ideal for collaborative individuals who have strong ethics and attention to detail. Whether assessing the creditworthiness of the firm s counterparties, monitoring market risks associated with trading activities, or offering analytical and regulatory compliance support, our work contributes directly to the firm s success. The MRM group looks for people with strong quantitative and technical backgrounds and a strong interest in financial markets. We seek bright and dynamic individuals with a degree in quantitative fields such as math, physics, engineering, computer science, or financial engineering. RESPONSIBILITIES Perform validation and approval of the firm s models by verifying conceptual soundness, methodology, and implementation, and by identifying limitations and uncertainties Assess and quantify model risk by developing alternative benchmark models Oversee monitoring of ongoing model performance Communicate validation outcomes to key stakeholders and management SKILLS AND RELEVANT EXPERIENCE Excellent quantitative problem solving skills Experience in stochastic modeling, numerical simulation, and data analysis Machine learning knowledge Good communication skills with the ability to explain complex problems in a simple way Eagerness and ability to learn new technologies and programming languages Excellent organizational skills Team orientation and ability to work in a fast paced environment

We are looking for a talented and dynamic individual to join our Catastrophe Modelling team at Guy Carpenter. This role is based in Mumbai. This is a hybrid role that has a requirement of working at least two days a week in the office. We will count on you to: Be the Single point of contact for a specific region or product or line of business Needs to manage large/complex clients with ability to understand all the intricacies of the client requirements Conduct checks and edits on client-supplied data. Produce a detailed exposure profiling. Run catastrophe analyses using (not limited to) RMS, AIR and RQE / commercially available vendor models to estimate potential cat losses Develop in-depth knowledge of the models and manage model uncertainties Provide modelled loss outputs in various forms. Interpret and explain modeling results to colleagues, brokers, clients, reinsurers and other parties Maintain a regular stakeholder interaction & develop relationship with analysts and consultants for constant flow of information on status, exceptions, expectations, forecasts, process changes and new opportunities Independently, communicates with brokers and clients to build strong understanding about the clients reinsurance buying philosophy and is considered SPOC for the client Be a team player collaborate effectively with the team by setting standards for performance and motivating to achieve beyond these standards Be a technical SPOC for the analysts and also perform the robust two stage review process Have a view and information on the skills and knowledge gaps of team and plan for training, cross skilling and up skilling of all team members for current and future needs Plan and implement engagement and retention initiatives (including rewards) What you need to have: 5+ years of experience in Catastrophe Modeling / Risk management What makes you stand out? Strong academic rigor with degree in Engineering, Mathematics/Statistics or related fields from reputed institution Strong knowledge of stochastic modeling, SQL and geospatial mapping tools like ArcGIS will be highly advantageous.

We are looking for a talented and dynamic individual to join our Catastrophe Modelling team at Guy Carpenter. This role is based in Mumbai. This is a hybrid role that has a requirement of working at least two days a week in the office. We will count on you to: Be the Single point of contact for a specific region or product or line of business Needs to manage large/complex clients with ability to understand all the intricacies of the client requirements Conduct checks and edits on client-supplied data. Produce a detailed exposure profiling. Run catastrophe analyses using (not limited to) RMS, AIR and RQE / commercially available vendor models to estimate potential cat losses Develop in-depth knowledge of the models and manage model uncertainties Provide modelled loss outputs in various forms. Interpret and explain modeling results to colleagues, brokers, clients, reinsurers and other parties Maintain a regular stakeholder interaction & develop relationship with analysts and consultants for constant flow of information on status, exceptions, expectations, forecasts, process changes and new opportunities Independently, communicates with brokers and clients to build strong understanding about the clients reinsurance buying philosophy and is considered SPOC for the client Be a team player collaborate effectively with the team by setting standards for performance and motivating to achieve beyond these standards Be a technical SPOC for the analysts and also perform the robust two stage review process Have a view and information on the skills and knowledge gaps of team and plan for training, cross skilling and up skilling of all team members for current and future needs Plan and implement engagement and retention initiatives (including rewards) What you need to have: 5+ years of experience in Catastrophe Modeling / Risk management What makes you stand out? Strong academic rigor with degree in Engineering, Mathematics/Statistics or related fields from reputed institution Strong knowledge of stochastic modeling, SQL and geospatial mapping tools like ArcGIS will be highly advantageous.