Associate - Model Validation/Quantitative Risk

Description:

We are hiring: Model Validation Quantitative Risk (Associate)

Location: Powai, Mumbai

Experience: 5-7 years (Associate)

We are looking for a Model Validation Quant Developer to join a global risk team responsible for independent validation of risk, valuation, liquidity, and capital models used across the bank.

Role Overview:

- The role focuses on model validation automation, analytical testing, and Python-based development supporting validation of Market Risk models (including FRTB) and related quantitative frameworks.

Responsibilities:

- Development of group wide analytical, testing and reporting library in Python, including incorporating AI workflows.

- Help with designing and implementation of tests to challenge the theoretical assumptions and the implementation of the models (includes market risk models like FRTB capital models), including benchmarking, back-testing, scenario analysis and edge conditions.

- Ensure that the models meet their stated objectives.

- Modernise the preparation of model review documentation using Python scripts

- Help in writing systems to store performance metrics for the banks models

Mandatory Skills (Non-Negotiable):

- Strong expertise in Python (procedural & functional programming)

- Hands-on experience with Python libraries:

- NumPy, SciPy, Pandas, Matplotlib, scikit-learn, PyTorch

- Strong unit testing and debugging skills

- Experience managing Python environments

Understanding of risk models:

- Value at Risk (VaR), Counterparty Credit Risk, FRTB, or derivative pricing

- Experience with SQL / SQLAlchemy

- Excellent written communication in English

Key Responsibilities:

- Develop and maintain Python-based analytical, testing, and reporting libraries

- Design and implement model validation tests including benchmarking, back-testing, scenario analysis, and edge case testing

- Validate theoretical assumptions and implementation of Market Risk models (FRTB)

- Automate model review documentation using Python

- Build systems to track and store model performance metrics

- Support modernization and automation initiatives, including AI-enabled workflows

Experience:

- 1 - 4 years of relevant experience in model validation, quantitative risk, or financial analytics

Educational Qualifications:

- Graduate / Postgraduate degree in Quantitative, Engineering, Mathematics, Statistics, or PGDM (Finance) from a reputed institution

Good to Have:

- Experience with Power BI or reporting tools

- Knowledge of Monte Carlo / Finite Difference methods

- Familiarity with Flask, AI tools in Python

- Exposure to VS Code, GitHub Copilot

- Any C# experience

Interested candidates may reach out directly at: faustina@zodnik.in