Risk Associate - Model Validation

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The Business

The Role

If your expertise lies in data analysis and providing code base support, a position as an Associate is ideal for you. In this role, you will engage with data teams, perform data analytics to support model validation; analyse model scope, use and implementation related issues; document the analysis and communicate the findings, results to the lead validator on an ongoing basis. Controls over model parameter marking.


What the Business Does

This role is based in the Model Validation team of Risk Hub India.


Risk Hub India (RHI) supports all global risk function teams in EMEA, APAC and North America. The division, established in Q3, 2011 has now grown to ~300 employees. This team both leads and supports the activities of all the Risk verticals, providing specialized analytics and models, data, controls and reporting processes. We continue to deliver our priorities by building a robust, sustainable risk environment and optimizing our value through improvement activities and innovation. In addition we are building the next generation of leaders through our people agenda, with an objective of delivering best outcomes for customers, partners and stakeholders.


Responsible for providing an independent model review function as ‘Model Validator’. Incumbent is responsible for analysing model risk across the bank’s businesses and devise metrics to quantify model risk exposure, maintain controls and governance of model risk, advise on measures to mitigate model risk and communicate model risk issues and control measures to business stakeholders at all appropriate levels. Model Validators come from a heavily quantitative discipline.


Your Responsibilities

As an Associate, you will be required to:

  • Test models under stress & system integrity: Perform sensitivity analysis to identify the range of outcomes and if there are any scenarios where the model may not work as expected. Assess the model performance against the model presented by the modelers. Assess controls around data in and out of system.
  • Periodic validations/ re-reviews: Supporting periodic model validations by undertaking e.g., model stability, performance, benchmarking analysis and summarising the results in a clear and presentable format. Compile re-review packs, management of re-review schedule, re-run tests, additional tests as needed. Follow up on any issues identified.
  • MInT/MRF: Assisting with the MInT Help Desk, providing ongoing training and overseeing ongoing improvements; assisting with the transformation of MInT into a tool that enables tracking and reporting of model risk (i.e. are all mandatory procedures up to date, are all models within governance etc.).
  • Governance & Admin: Issues’ management and assisting with: reports and updates to senior management, MRM admin, management of model risk related ORBIT and GNEP issues etc.
  • MI: Assist in validation and use of model related monitoring MI, which is used to assess model performance, is a basis for detailed periodic validations and external disclosures. Investigating errors and KPI breaches.


Skills you need

  • 4 to 6 years of experience with degree in a quantitative subject (e.g. mathematics, physics, statistics, finance, etc.).
  • Experience in coding in SAS
  • Experience with C++, Python, R will be added advantage
  • Some knowledge of financial mathematics and relevant product/business experience.
  • Good skills in data analysis and code base support in a financial business context.
  • Skills in Microsoft products (Excel, Word, PowerPoint).


Why RBS?


RBS doesn’t just provide you with an exciting work and a generous pay package. We take pride in ensuring your personal and professional development are first and foremost. You will have access to a range of development and learning programs, services and support designed to help you manage and balance your work/life priorities.


Whether its retirement planning, supporting a charity close to your heart or taking care of your well-being, RBS makes sure you are taken care of. For more information on our benefits, please visit our website.


At RBS, our purpose is to serve customers well. We serve around 24 million customers across the globe, and our aim is to consistently meet their needs wherever they find us.  Our ambition is to become the UK’s number-one bank for customer trust, service and advocacy by 2020. Our global workforce is integral to helping us achieve this goal.


With colleagues across 5 main states, and connected across-the-globe by common values and a unified ambition, RBS India delivers vital bank functions that help us offer truly round-the-clock support to our UK customers, and 24/7 banking to our international customers.


RBS welcomes applications from all sections of the community.

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