Model Risk Management (“MRM”) provides oversight for the MRM Framework, which consists of the policy, processes, and procedures.
The team is responsible for development and maintenance of Model Risk Management Policy and procedures, for evaluation and approval of high, medium and low risk models used in global consumer risk management.
The validator role will be part of the Consumer Valuation Models group within Model Risk Management. His/her primary function is to conduct validation activities for Consumer risk scoring models. The role is very critical to the organization as the authorization on the use of the BAU models is based on MRM’s validation results. The member will adhere to the MRM’s firm-wide policy, procedures, and guidelines
Key Responsibilities
·Conduct model assessment as per the requirements outlined in the MRM Policy, Procedures, and Guideline
·Provide effective challenge to the model design and construction and conduct incremental analysis and testing as necessary
·The assessment also requires writing a comprehensive validation report based on his / her judgment of the validation results
·Identify model limitations and ensure the appropriate remediation actions are in place and monitored
·Challenge and continually improve MRM Guidelines on modeling approaches and model performance testing
·Contribute to strategic, cross-functional initiatives within MRM organization
·This position provides a very significant amount of learning and growth opportunities from both technical and leadership perspective. The incumbent will be exposed to different areas of business operations and a variety of modeling approaches, including machine learning on top of industry standard tools
Required Qualifications
·Masters with a specialization in Statistics, Mathematics, or other quantitative discipline
·Industry experience of 4-6 years and have strong written and oral communication skills
·Good knowledge in programming skills (Python, SAS, R etc.)
·Strong understanding of model development and validation testing techniques
- Strong Understanding of Machine learning techniques
·Knowledge of financial institution/ banking domain
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