Model Validation - Market risk Models

Mastermind Network; Mumbai; On-site; INR 1,500,000 - 3,000,000; Full time

Job summary

Mastermind Network in Mumbai invites applications for a senior role in model validation for market risk. The candidate should have 5-9 years of experience in model development/validation within financial services and strong Python programming skills.

The role requires independent validation across asset classes, assessment of regulatory compliance, and preparation of detailed validation reports for senior stakeholders. Collaboration with Front Office and risk functions is essential.

Qualifications

• 5-9 years in model development/validation in financial services.
• Strong Python programming skills.
• Masters/MBA in Economics, Mathematics, Statistics, Finance or CS from Tier 1 institution.

Responsibilities

• Conduct independent validation of market risk models across asset classes (IR, FX, Inflation, Equities, Commodities, Credit, Mortgages).
• Assess model conceptual soundness and regulatory compliance through review of assumptions, methodology, data, and implementation.
• Design and execute challenger analyses, benchmarking, sensitivity, stress testing, back-testing and quantitative assessments to identify model risks.
• Evaluate governance and controls per Model Risk Management framework and SR 11-7 / SR 26-2 guidance.
• Prepare high-quality validation reports and documentation for senior stakeholders and governance committees.
• Collaborate with Front Office, Global Risk Analytics, Market Risk, Finance, Audit and other control functions to discuss outcomes and remediation plans.

Skills

Python programming

Model validation

Financial services domain

Regulatory awareness

Education

Masters/MBA in quantitative field

Job description

Description :

We are hiring for a leading Investment bank based at Mumbai

Experience :

5-9 yrs in Model Development/Model Validation for financial Services with good Python programming skills

Education :

Masters / MBA; in Economics, Mathematics, Statistics, Finance, Computer science From Tier 1 with good knowledge inEquity pricing models.

Responsibilities:

• Conduct independent validation of market risk models across major asset classes including Interest Rates, Foreign Exchange, Inflation, Equities, Commodities, Credit, and Mortgages, covering methodologies such as VaR, RNIV, IRC/CRM, FRTB, Stress Testing, and CCAR.
• Assess model conceptual soundness and regulatory compliance through comprehensive review of model assumptions, methodology, mathematical framework, empirical evidence, data quality, implementation, limitations, and intended use.
• Design and execute independent challenger analyses and testing, including benchmarking, sensitivity analysis, stress testing, back-testing, outcome analysis, and quantitative assessments to identify, measure, and articulate model risks.
• Evaluate model governance and controls in alignment with the Bank's Model Risk Management framework and regulatory expectations, including SR 11-7 and SR 26-2 guidance.
• Prepare high-quality validation reports and technical documentation that clearly communicate validation findings, model limitations, risk assessments, recommendations, and approval decisions to senior stakeholders and governance committees.
• Partner with key stakeholders across Front Office, Global Risk Analytics (GRA), Market Risk, Finance/PVG, Audit, and other control functions to provide effective challenge, discuss validation outcomes, and establish appropriate compensating controls and remediation plans.

Goode Knowledge in Python