Quant Model Validation & Quality Assurance Role - Model Risk Audit Team - Investment Bank

Our client is an International Investment Bank with a strong Global presence, looking to hire senior candidate for the Model Risk Audit team within the Internal Audit team in Mumbai.

Some of the key responsibilities will include:

- This opportunity is for individuals with proven expertise in modeling of risk and valuation in financial services to join Model Risk Audit team within Internal Audit which is responsible for delivering independent assurance over model risks globally.

- You will be expected to perform audit procedures covering the end to end model development and validation process, including: review and testing of model design, implementation, application, validation and governance processes.

- Review and assess the model development and independent model validation performed evaluating ongoing model performance testing and ensuring that model users are aware of the model strengths and limitations.

- Investigate key aspects of each model under review, incl. model documentation, model selection, input data, theoretical construction, implementation (independent calculation) and model governance (inventory related models, issues, escalations, agreed actions, approvals/limitations and/or conditions of use) with reference to internal policies and regulatory requirements (e.g. FED SR11/7)

To be eligible for this role you will require:

- You have a university degree in econometrics, quantitative finance or equivalent (The role requires a strong quantitative background based on a PhD or Master's Degree (or equivalent) in a quantitative discipline such as Math, Science, Economics, Engineering, Quantitative/Math Finance, etc)

- You possess an experience in model risk assurance activities (internal/external audit, independent validation or regulatory environment) and understanding of risk and/or pricing modelling in the financial industry

- You have strong communication and writing skills

Please note that due to the high number of applications only shortlisted candidates will be contacted. If you do not hear from us in the next 5 business days we regret to inform you that your application for this position was unsuccessful.