Research Analyst - Criteria, Rating Model Development & Research

Brickwork Ratings (BWR); Bengaluru; On-site; INR 900,000 - 1,300,000; Full time

Job summary

Brickwork Ratings (BWR) in Bengaluru seeks a research analyst to develop and validate credit rating models across asset classes while ensuring SEBI and RBI regulatory compliance. The role includes researching macroeconomic trends, credit risks, and ESG factors to support the rating committee and management.

The candidate will maintain model documentation, apply statistical techniques, and collaborate with stakeholders. Proficiency in Python or R and MS Office is required.

Qualifications

• Strong analytical and quantitative skills with ability to interpret large datasets.
• Proficiency in Python or R for statistical modeling and data analysis.
• Knowledge of risk policy and regulatory reporting is preferred.

Responsibilities

• Develop and validate credit rating models and methodologies across asset classes.
• Produce research on macroeconomic trends, credit risks, and ESG factors.
• Support rating committees and management with regulatory-compliant analyses.
• Lead model validation activities including back-testing and stress testing.
• Maintain documentation for models and criteria.

Skills

Python

R

Excel

PowerPoint

Statistics

Machine Learning

Data analysis

Communication

Tools

MS Office

Job description

Role & responsibilities:

The research analyst will be responsible for developing and validating credit rating models and methodologies across asset classes, ensuring regulatory compliance with SEBI and RBI. They also produce high-quality research on macroeconomic trends, credit risks, and ESG factors, supporting the rating committee and management in maintaining accurate, robust, and compliant rating standards.

Criteria and Model Development-

• Contribute to the development and maintenance of criteria for rating various asset classes, including corporate bonds, structured finance, and sovereign debt.
• Contribute to the development and validation of credit rating models, including data analysis, model design, and testing.
• Ensure rating models are regularly reviewed and updated to reflect changes in market conditions and regulatory requirements.
• Work closely on projects involving analytical disclosures (CDR, Transition matrix, default statistics) to the regulators of the organization viz. SEBI & RBI.
• Work closely with rating committees, analysts, and other stakeholders to ensure rating models and criteria are applied consistently and accurately.
• Oversee thorough model validation activities including back-testing, stress testing, and performance monitoring, and lead remediation as required.
• Develop and maintain documentation for rating models and criteria, including methodology reports and user guides.
• Support rating analysts and other stakeholders on rating models and criteria.
• Apply statistical techniques to derive analysis and key findings (preferred)

Research-

• Conduct research and produce high-quality reports, presentations and short articles on a wide range of topics including but not limited to macroeconomic developments, credit trends, credit protection gaps, impact of regulatory developments on credit ratings, climate risk, ESG, and industry trends.
• Track and interpret ongoing risk, regulations/policies and all related regulatory expectations.
• Support management with research and regulatory understanding pertaining to day-to-day requirements of regulators.

Competencies:

• Strong communication and collaboration skills, with the ability to work effectively with stakeholders at all levels.
• Drive continuous improvement by researching advanced statistical and machine learning techniques to enhance model accuracy and efficiency.
• Knowledge of risk policy and regulatory reporting is preferred.
• Excellent analytical and quantitative skills with the ability to interpret large datasets.
• Good understanding of model risk management principles and governance requirements
• Proficiency in understanding of key financial ratios pertaining to credit risk would be an added advantage.
• Proficiency in R or Python for statistical modeling and data analysis is mandatory.
• Proficiency in MS Office suite (Word, advanced Excel and PowerPoint).
• Proficiency in statistical and quantitative techniques to solve various business problems