Job Description
Position Title:
Model Validation Analyst
Position Summary:
The Model Validation Analyst is responsible for independently assessing the conceptual soundness, performance, implementation, and ongoing monitoring of models used across the Bank. The role supports the Bank's Model Risk Management (MRM) framework by conducting rigorous validations in accordance with regulatory requirements, including the U.S. Federal Reserve's SR 26-2 Guidance on Model Risk Management and applicable OCC and FDIC expectations.
The analyst will evaluate a variety of quantitative and qualitative models, including credit risk, market risk, liquidity risk, stress testing, AML/fraud, capital planning, CECL, pricing, and machine learning models. The successful candidate will work under the supervision of the U.S. team, work closely with bank MRM team, model developers, model owners, business stakeholders, Internal Audit, and regulators to ensure models are fit for purpose and risks are appropriately identified and mitigated.
Key Responsibilities:
- Perform independent validations and reviews of models/EUCs across the model lifecycle under supervision of the US team.
- Assess model conceptual design, methodology, assumptions, limitations, data quality, implementation, and usage.
- Conduct quantitative testing, including:
1. Outcome analysis
2. Benchmarking
3. Back-testing
4. Sensitivity analysis
5. Stress testing
6. Performance monitoring reviews
- Evaluate model development documentation and supporting evidence.
- Verify compliance with internal model risk policies and regulatory guidance.
- Assign validation findings and risk ratings based on established governance standards.
- Develop recommendations for model improvements and risk mitigation.
- Assist in maintaining the model inventory, model risk ratings, and issue tracking and remediation.
- Collaborate with bank MRM team, model developers, business units, risk management teams, and technology teams.
Required Qualifications:
Education:
Bachelor's degree in Statistics, Mathematics, Economics, Finance, Data Science, or related quantitative discipline.
Experience:
2 - 5 years of experience in model validation, model development, quantitative analytics, data science, risk management, or related fields within banking or financial services, preferably for U.S. clients.
Familiarity with model risk management frameworks and regulatory expectations.
Experience validating or developing risk, financial, or machine learning models is preferred.
Technical Skills:
Strong understanding of statistical and quantitative modeling techniques.
Knowledge of:
1. Regression analysis
2. Time series forecasting
3. Classification models
4. Machine learning methodologies
5. Probability and statistical inference
Proficiency in one or more programming languages:
1. Python
2. R
3. SAS
4. SQL
Experience working with large datasets and analytical tools.
Preferred Qualifications:
Master's degree in a quantitative field.
Experience validating:
1. Credit risk models
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3. Stress testing models
4. Market risk models
5. AML/Fraud models
6. Machine learning and AI models
Experience or familiarity with:
1. SR 26-2 Model Risk Management Guidance
2. OCC Model Risk Management expectations
3. CECL framework
4. Basel regulations
5. Fair Lending and model governance requirements
6. AI/ML model risk considerations
Competencies:
Strong analytical and critical thinking skills.
Ability to independently challenge complex quantitative methodologies.
Excellent written and verbal communication skills.
Strong report-writing and documentation capabilities.
Attention to detail and commitment to quality.
Ability to manage multiple projects and deadlines.
Strong stakeholder engagement and relationship management skills.
Key Deliverables:
- Comprehensive model validation reports.
- Validation test workpapers and supporting documentation.
- Findings and remediation tracking.
- Model performance monitoring assessments.
Skills
Risk ManagementModel ValidationRisk AnalyticsStress TestingQuantData ScienceComplianceRisk MitigationRegulatoryRegulatory RequirementsRisk ManagementCredit RiskIf a job posting appears fraudulent, asks for payment, contains misleading information, or violates our guidelines, please report it immediately. Our team will review it promptly, Jobaaj does not charge any fee from the applicants.
About Company
The American multinational technology company known as the International Business Machines Corporation (IBM), affectionately dubbed Big Blue, is headquartered in Armonk, New York, and operates in more than 175 countries worldwide. Renowned as the largest industrial research entity globally, IBM boasts 19 research facilities spread across a dozen countries, holding the record for the most annual U.S. patents generated by a business for an unprecedented 29 consecutive years, spanning from 1993 to 2021.
Established in 1911 as the Computing-Tabulating-Recording Company (CTR), IBM initially served as a holding company for manufacturers specializing in record-keeping and measurement systems. It underwent a name change to "International Business Machines" in 1924, swiftly emerging as the foremost manufacturer of punch-card tabulating systems. Throughout the 1960s and 1970s, IBM's dominance soared with its pioneering IBM mainframe, notably the System/360, which cornered 80 percent of the U.S. computer market and 70 percent globally.
In the 1980s, IBM ventured into the microcomputer market with its groundbreaking IBM Personal Computer, widely recognized as the PC, marking one of the company's most successful products. However, due to oversight in intellectual property protection, IBM faced challenges from emerging competitors, leading to a decline in its market share. Nonetheless, the openness of the PC platform ensured its enduring popularity as a microcomputer standard.
From the 1990s onward, IBM embarked on restructuring initiatives, divesting from commodity production, including the sale of its personal computer division to the Lenovo Group in 2005. Subsequently, IBM shifted its focus to computer services, software, supercomputers, and scientific research. Its supercomputers consistently rank among the world's most powerful since the turn of the millennium, with a notable milestone in 2001 as the first company to amass over 3,000 patents in a single year, surpassing this feat in 2008 with over 4,000 patents. As of 2022, IBM holds an impressive portfolio of 150,000 patents.
As a venerable technology giant, IBM has been credited with numerous technological breakthroughs, including the automated teller machine (ATM), dynamic random-access memory (DRAM), the floppy disk, the hard disk drive, the magnetic stripe card, the relational database, the SQL programming language, and the UPC barcode. Additionally, IBM has made significant strides in advanced computer chips, quantum computing, artificial intelligence, and data infrastructure. Its employees and alumni have received prestigious accolades for scientific research and inventions, including six Nobel Prizes and six Turing Awards.
IBM is publicly traded and part of the Dow Jones Industrial Average, ranking among the world's largest employers with over 297,900 employees globally as of 2022. Despite facing relative challenges within the technology sector, IBM maintains its position as the seventh-largest technology company by revenue and the 49th largest overall, according to the 2022 Fortune 500. It consistently garners recognition as one of the world's most recognizable, valuable, and admired brands.
Important dates & deadlines?
Application Deadline
06 Dec 26, 01:01 PM IST
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IBM - Model Validation Analyst
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