FS RISK CONSULTING-FSRM - CSTC-CREDIT RISK QUALITY ASSURANCE-QUALITY CONTROL-MANAGER

EY; Pune District; On-site; INR 2,000,000 - 3,000,000; Full time

Job summary

EY is seeking experienced Credit Risk and QA professionals to join the WCQA team within FSO, focusing on wholesale credit risk. The role involves independent QA reviews, testing, and credible challenge to underwriters to ensure high-quality credit decisions and governance alignment.

You will work across underwriting, financial analysis, and documentation quality, driving continuous improvement in risk controls and processes. This is a senior role based in EY’s Financial Services Office.

Qualifications

• CA or degree in finance/accounting/economics with relevant experience in wholesale credit risk.
• Experience in underwriting, credit risk governance, and QA/assurance.
• Ability to review credit work products and document QA conclusions.
• Awareness of AI/ML methods in credit risk and QA workflows.

Responsibilities

• Perform QA reviews across wholesale lending credit risk activities and underwriting analysis.
• Assess risk ratings, financial analysis, and credit decisions for accuracy.
• Deliver objective QA assessments using defined methodologies and scorecards.
• Review credit memos, financial models, covenants, and approval workflows.
• Identify process gaps and systemic issues to drive continuous improvement.
• Provide credible challenge to underwriters and portfolio leads on quality and policies.
• Support identification, measurement, and monitoring of wholesale credit risks.
• Translate policy requirements into testing strategies and scripts.
• Prepare QA deliverables, including workpapers and management reports.
• Generate portfolio-level insights for governance reporting.
• Track corrective actions and validate closure with root-cause analysis.

Skills

Wholesale credit underwriting

Credit risk management

Loan review

Credit quality assurance

Internal audit/assurance

QA review & testing

Policy and standards adherence

Underwriting analysis

Education

CA or Bachelor’s/Master’s degree in finance, accounting, economics

Job description

At EY, you’ll have the chance to build a career as unique as you are, with the global scale, support, inclusive culture and technology to become the best version of you. And we’re counting on your unique voice and perspective to help EY become even better, too. Join us and build an exceptional experience for yourself, and a better working world for all.

Risk Consulting – Financial Services Risk Management (FSRM) – Capital, Stress Testing & Credit risk management (FSRM) – Manager

Description

EY's Financial Services Office (FSO) is a unique, industry-focused business unit that provides a broad range of integrated services that leverage deep industry experience with strong functional capability and product knowledge. FSO practice provides integrated consulting services to financial institutions and other capital markets participants, including commercial banks, investment banks, broker-dealers, asset managers (traditional and alternative), insurance and energy trading companies, and the Corporate Treasury functions of leading Fortune 500 Companies. The service offerings provided by FSO Consulting include: market, credit and operational risk management, regulatory consulting, quantitative consulting, structured finance transaction, actuarial consulting, technology enablement, risk and security, program consulting, and process & controls.

Within EY’s Business Consulting Practice, the Financial Services Risk Management (FSRM) group provides solutions that can help FSO clients to identify, measure, manage and monitor the market (trading book), credit (banking book), operational, and regulatory risks associated with their trading, asset-liability management, capital management and other capital markets activities.

Role Overview

We are seeking experienced Credit Risk and Quality Assurance professionals to join the QA Managed Services team supporting Wholesale Credit Quality Assurance (WCQA) activities, where the role involves:

• Independently reviewing credit portfolios and assessing underwriting quality in line with regulatory and internal policy expectations
• Executing end-to-end QA processes within a managed services operating model while ensuring adherence to defined SLAs, quality standards, and governance frameworks
• Executing and/or leading Quality Assurance Reviews (QARs) and associated testing across credit lifecycle activities
• Providing credible challenge to underwriters and portfolio teams on credit decisions, documentation quality, and process adherence
• Generating thematic, portfolio-level insights beyond case-specific observations to identify operational and control weaknesses, training gaps, and process deficiencies, thereby supporting continuous improvement and strengthening overall credit risk management practices.

Key Responsibilities

• Perform periodic Quality Assurance Reviews (QARs) across wholesale lending credit risk activities, including underwriting & credit analysis, credit documentation quality, and overall process adherence.
• Assess the accuracy and appropriateness of risk ratings, financial analysis, and credit decisions
• Deliver consistent, objective assessments using defined QA methodologies, sampling frameworks, and standardized review protocols.
• Review credit memos, financial models, covenant structures, and approval workflows
• Identify and document process gaps, control weaknesses, and quality deficiencies, with a strong focus on thematic trends and systemic issues to drive continuous improvement.
• Provide credible challenge to Business/Portfolio Leads and Underwriters on underwriting quality, analytical rigor, and adherence to policies and standards, with appropriate escalation of material issues.
• Support the effective identification, measurement, monitoring, and control of wholesale credit risks, ensuring alignment with risk appetite and established risk governance frameworks.
• Translate policy and standard requirements into testing strategies and standardized test scripts and support planning efforts to enable efficient and scalable QAR execution.
• Prepare high-quality QA deliverables, including QAR workpapers, review summaries, scorecards, and management reports, highlighting key findings, emerging risks, and actionable recommendations.
• Generate portfolio-level insights and management information (MI), contributing to governance reporting and enabling informed decision-making by QA leadership.
• Track and manage corrective actions and remediation efforts, including follow-ups and validation of issue closure, supported by root cause analysis to minimize recurrence of findings.
• Collaborate effectively with cross-functional stakeholders, maintaining strong working relationships to ensure alignment on QA scope, findings, and continuous enhancement of QA frameworks and protocols.

Qualifications, Certifications And Education

Must-have

• CA or Bachelor’s/master’s degree in finance, Accounting, Economics, or a related field
• 7-10 years of experience in one or more of the following areas: wholesale credit underwriting, credit risk management, loan review, credit quality assurance, or internal audit/assurance covering credit processes
• Strong understanding of end-to-end wholesale credit risk lifecycle, including underwriting, monitoring, and credit risk governance (policies, standards, and process adherence)
• Solid knowledge of risk management and control frameworks relating to corporate or counterparty credit risk; exposure to problem credit assessment and risk mitigation is an added advantage
• Ability to evaluate credit processes and control design, identify quality gaps, and assess effectiveness of controls within a QA or review function
• Proven capability to review and challenge credit work products, including credit analysis, underwriting rationale, risk identification, and monitoring approach, with clear documentation of QA conclusions
• Strong written communication skills, with the ability to produce structured QA reports and articulate thematic insights for senior stakeholders
• Demonstrated experience in cross-functional collaboration, working effectively with 1LoD/2LoD teams and stakeholders to drive issue resolution and continuous improvement
• Awareness of emerging AI/ML methodologies and their use in credit risk management, QA review, and workflow automation.
• Basic AI knowledge, excellent communication, analytical thinking, and problem solving skills

Nice to Have Skills

• Professional certifications such as CFA, FRM, or equivalent
• Experience building/testing QA test scripts, review checklists, or testing strategies mapped to policy requirements
• Exposure to portfolio analytics / sampling / scoping methodology for QA coverage
• Exposure to data analytics tools, reporting dashboards, or workflow tools
• Experience in managed services or offshore delivery models
• Advanced knowledge in AI is good to have.

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