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26/05 Ridhi Vasudeva
Freelancer at Mancer Consulting

Views:18512 Applications:115 Rec. Actions:Recruiter Actions:39

VP - Model Monitoring - Investment Banking Portfolio - Global Analytics Unit (10-12 yrs)

Delhi/NCR Job Code: 455410

About Global Analytics Unit :

- Global Analytics Unit (GAU) is responsible to provide analytics support to various clusters. Analytics support includes Model Development, Model Validation, Model Monitoring, Strategy Development, MI and Data Management support and development and maintenance of Risk Tool.

About Model Monitoring :

- Model Monitoring acts as one of the primary ways to mitigate Model Risk by highlighting areas of sub-optimal performance and by proposing effective remediation plan for models in use by business. Model Risk is the potential for adverse consequences (e.g. financial loss, reputational impact, regulatory censure etc.) from decisions based on incorrect or misused model outputs and reports. This can arise from fundamental model weaknesses leading to inaccurate outputs, errors in implementation, or incorrect/inappropriate use. Monitoring team periodically evaluate model performance. Monitoring findings help business to decide upon the further uses of the model in order to Continue, Adjust and then Continue or discontinue and Rebuild the Model.

Overall purpose of role :

- The primary purpose is to lead and grow a team of risk professionals responsible for the performance review and governance of various credit risk models (capital, impairment and decision models). GAU Model Monitoring team currently reviews around 500 credit risk models for Retail, Cards, Corporate and Investment Banking portfolios as per the regulatory requirements.

- Build and maintain a world class analytics capability that delivers high quality solution for use by the businesses in lending decisions, impairment quantification and regulatory capital assessment

- Strengthen the models control environment, meeting the requirements various internal and regulatory policies and standards, and leading the delivery of model monitoring requirements

- Plan and prioritize projects and resources in discussion with the stakeholders. Monitor and drive plans to achieve successful completion of work as per the time, budget and quality standards. Ensure service delivery in line with business expectation and as per the agreed SLAs

- Guide the team to deliver performance review of all models as per the monitoring governance calendar. Ensure minimum Dispensation, Breach and Waiver (DWBs) against the Group Model Risk Policy and Standards

- Work extensively with the onshore stakeholders to identify and exploit opportunities for effective migration of processes

- Drive process improvement through model monitoring automation, standardization and centralization

- Communicate strategic developments within the business area. Build effective communication channels to ensure open communication and address issues/concerns raised by the team

- Manage and develop a team in a very demanding and dynamic work environment. Ensure effective allocation and utilisation of resources in order to maximise efficiency

- Drive smooth functioning of Model Monitoring Review Committees by providing support to the end-to-end governance execution and decision making process. Ensure periodic notification to Group Risk and senior management

- Identify appropriate internal and external data sources and gather information to support analysis

- Perform GAP analysis with relevant policies and standards and work on remedial actions. Ensure that appropriate Dispensation-Waiver-Breaches (DWBs) are raised against the policies, in case required

Person Specification :

Essential :

- Extensive experience in consumer credit risk management and/or analytics across customer lifecycle, Impairment, Basel II etc.

- Knowledge of retail financial services portfolios. Awareness of the economy, market and customer trends affecting the business

- Familiarity with modelling techniques and their value in business (Statistical Techniques, Econometrics, Multivariate Analysis, System Dynamics, Stochastic Processes, Linear and Non Linear Programming etc.)

Preferred :

- Prior knowledge of model monitoring and related decision making process

- Experiences in working with regulators and compliance. Knowledge of regulatory and accounting standards

- Experience in effectively delivering in multicultural, cross-functional and offshore environments

- Proficiency in SAS and SQL, or other suitable statistical programming language and automation tools

- Senior stakeholder management experience - CROs & business leaders

- Experience in developing the best-in-class tools and models for large financial institutions

Education :

- Masters in Statistics, Mathematics, Economics, operational research field, CA, Engineer, MBA

This job opening was posted long time back. It may not be active. Nor was it removed by the recruiter. Please use your discretion.

Women-friendly workplace:

Maternity and Paternity Benefits

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