Senior Lead/Vice President - Model Risk Management/Model Validation

Description:

Location: Mumbai

Experience: 12+ years

Industry: Investment Banking / Financial Services

Functional Area: Risk Management / Quantitative Analytics

Role Overview

The incumbent will be responsible for independent review and validation of models and tools used across the organization, ensuring compliance with Model Risk Management (MRM) policies, regulatory requirements, and industry best practices.

This role demands a deep understanding of quantitative modeling, financial products, and risk management principles.

Key Responsibilities

- Conduct independent review and validation of models in line with MRM policies, regulatory guidance, and best practices.

- Evaluate conceptual soundness, methodological robustness, model limitations, data quality, and ongoing model performance monitoring.

- Take ownership of the end-to-end delivery of Model/Tool Validation and related Risk Management deliverables.

- Document and present Model/Tool Review findings for internal and external stakeholders, including: Model developers, business managers, internal audit teams, and global committees.

- Regulatory bodies and external auditors.

- Represent the MRM team in interactions with regulators and auditors as needed.

- Stay updated with financial market trends, emerging risks, and business developments to enhance validation quality and insight.

Qualifications & Experience

Education: Masters or Doctorate in a quantitative discipline such as Statistics, Mathematics, Physics, or Engineering.

Experience: Minimum 12 years of relevant experience in Model Validation, Model Development, or a quantitative technical role within financial institutions.

Proven expertise in quantitative finance, model risk, and statistical techniques.

Strong understanding of complex financial instruments and valuation models.

Programming Skills: Proficiency in Python; exposure to R or other languages is an advantage.

Familiarity with machine learning and advanced analytics techniques is preferred.

Excellent written and verbal communication skills, including the ability to debate technical viewpoints and present complex material clearly.

Demonstrated ability for continuous learning and adapting to new methodologies and regulatory expectations.

Professional certifications such as CQF (Certificate in Quantitative Finance) or progress toward it are desirable.