EXL Services - Consultant - Risk Management

Role Overview:
EXL is seeking a seasoned Model Risk Management professional with hands-on expertise in model development, validation, and performance monitoring aligned with regulatory and internal standards. The ideal candidate will contribute to strengthening EXL's analytics capabilities across financial, risk, and operational models.
Key Responsibilities:
Model Development:
- Design, develop, and implement statistical or machine learning models for risk, operations, or finance domains.
- Document model assumptions, methodology, and limitations in accordance with internal MRM guidelines.
Model Validation & Review:
- Conduct independent validations of models used across business units: performance testing, data integrity assessments, and sensitivity analyses.

- Evaluate conceptual soundness, accuracy, and robustness of model outputs.
- Prepare validation reports, highlighting key risks and suggesting mitigation strategies.
Model Monitoring & Compliance:
- Design frameworks for continuous performance monitoring (e.g., backtesting, stability tracking, drift detection).
- Ensure compliance with regulatory standards such as SR 11-7, OCC 2011-12, and any local regulatory frameworks.
- Collaborate with internal stakeholders to uphold governance standards across the model lifecycle.
Requirements:
- Advanced degree in Quantitative fields (e.g., Statistics, Mathematics, Economics, Engineering, Data Science).
- 6+ years of experience in model development, validation, or MRM governance.
- Proficiency in tools such as Python, R, SAS, or similar analytical software.
- Familiarity with regulatory guidance and risk modeling frameworks.
- Strong documentation and stakeholder engagement skills.
Preferred Skills:
- Exposure to BFSI models: credit risk, market risk, fraud, or customer segmentation.
- Experience working in hybrid or remote team environments.
- Certifications like FRM, CFA, or equivalent are a plus.