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01/07 Shambavi
Associate Consultant at Careernet Consutancy

Views:454 Applications:110 Rec. Actions:Recruiter Actions:40

Business Analyst Consultant - Model Validation - BFSI (2-4 yrs)

Bangalore Job Code: 945235

We have an Excellent opportunity with one of our BFSI client Position in Bangalore location.

Job Summary:

Department Overview:

Corporate Model Risk:


- Corporate Model Risk is responsible for independently overseeing the management of model risk exposures across the enterprise (including governing, monitoring, and reporting on aggregate model risk exposures, model validations, and model oversight across enterprise). 


- This oversight extends to all phases of a model's life cycle, including identification, development, validation, implementation, finding resolution, usage, performance monitoring, documentation, and retirement.


Qualitative Model Validation:


- The Qualitative Model Validation group is responsible for validating and approving all qualitative models used across including Credit, Liquidity, Market, Operational, Pre-Provision Net Revenue (PPNR), Finance, Balance Sheet, and Financial Crimes to name a few.


- The team's responsibilities include performing model validations (independent reviews, writing validation reports, and approving model usage), annual reviews, performance monitoring, and issue management. The team works closely with model users, developers, model governance, and Corporate Functional Model Oversight (CFMO) teams to manage model risk to the firm and facilitate the model approval process.

Role:

As Business Analytic Consultant 2 you will be responsible for the quality, and completion of model validation to support business activities in the area of Financial Crimes, which includes Fraud forecasting.

Responsibilities:

- Execute the Validation processes for his/her area of specialty in accordance to applicable Policies, in particular:

- Ensure credible challenge of models through validation process.

- Evaluate all relevant components of models and assess model soundness across lifecycle as applicable

- Identify areas of weakness and work with Model Owners, CFMO, and other key stakeholders to ensure risk commensurate remediation,

- Ensure timely validation delivery

- Establish reporting and escalation protocols of review results and follow up on identified issues/observations.

- Continually work to improve consistency and quality of independent model validation

- Ensure all models within scope are independently validated per expected standards and schedule.

- Build and maintain effective working relationships with LOB Model Governance, Model Owners, Model Program team members, and CFMOs across.

- Understand model risk supervisory guidance, Model Risk Management Policy, and current industry best-practice

Essential Skills:

- 2+ years of experience in one or a combination of: Bank Secrecy Act, Anti-Money Laundering, Fraud, or monitoring of financial transactions/accounts for policy violations.

- Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis preferred

- Strong analytical skills with high attention to detail and accuracy

- Proficiency managing databases, spreadsheets or programming (understanding code and coding).

- Experience in the model development or validation.

Desired Skills:

- High degree of knowledge of government and regulatory requirements regarding BSA/AML, CDD and EDD.

- Knowledge of financial crimes monitoring processes and methodologies used to detect high-risk customers

- Very familiar with types of fraud and variety of methodologies used to forecast operational risk losses

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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