Location
Bangalore | India
Job description
At Silent Eight, we develop our own AI-based products to combat financial crimes that enable things like money laundering, the financing of terrorism, and systemic corruption. We’re a leading RegTech firm working with large international financial institutions such as Standard Chartered Bank and HSBC. Join us and help make the world a safer place!
JOB SUMMARY
A Risk Model Analyst supports the implementation and execution of company-wide model governance program for MRM, in conformance with regulatory guidelines. This includes participation in the implementation of MRM standards, policies, and procedures, performing ongoing monitoring of the execution of MRM processes; managing model inventory & periodic attestation, and identifying & reporting on aggregate model risk. This analyst will review the complex models used within the organization, all model documentation protocols, the development and maintenance of model risk reporting, and the maintenance of the model inventory.
ESSENTIAL FUNCTIONS
- Reports regularly to leadership on the compliance of the model risk management program, including policies and procedures, with respect to its progress, working issues, and challenges.
- Oversees the MRM process, controls and compliance with model governance policies and procedures, as per regulatory guidelines.
- Responsible for providing support to the development of controls for a sound and robust MRM framework within the company.
- Manages the model inventory and the periodic model inventory attestation process including model definition, risk rating and model process rationalization.
- Manages the re-development and maintenance of the model inventory ensuring the inventory is complete, accurate, and consistent with the intent of the Model Governance Policy.
- Manages model development and model validation documentation, implementation and ongoing monitoring processes ensuring satisfactory documentation for existing and for new models.
- Promotes a strong model risk control culture and develops communication strategies to improve model risk awareness.
- Updates and monitors compliance with the Model Governance Policy, the MRM Policies and Procedures, including gap analysis and road map to the target state for each model.
- Executes MRM scheduling including the identification of model governance activities, scheduling of model validations, monitoring of timelines and management of project documentation.
- Proactively maintains effective partnerships with the model validation analysts, model owners, business level risk management teams and auditors, internal and external to execute sound model risk governance and resolve all issues in a timely manner.
- Coordinates model risk assessment for model changes, model deletions or new model limitations.
- Engages in system development activities including the identification of model validation requirements, user acceptance testing, system documentation and the timely resolution of all associated issues.
- Actively manages the Model Open Issues Log and monitors model owner responses to remedy model deficiencies identified, follows up with model owners regarding remediation status, timelines, and other critical data elements associated with timely remediation.
- Conducts risk analysis to validate the performance of existing models and leads gap closing projects to include recommended model changes.
- Responds to requests for model risk governance documentation and questions from oversight, including internal and external auditors, regulators and testing personnel.
Qualifications
- A Bachelor's degree in Finance, Business, Statistics or Risk Analysis. A Master's degree is preferred.
- Five to eight years of experience in relevant risk analysis, ERM, audit or finance role.
- Advanced bank risk management or model governance experience at a large financial institution.
- Experience with vendor models.
- Experience with MRM database management.
- Knowledge of banking and credit risk management including key risk drivers.
- Knowledge of model life cycle methodologies preferably in a bank or regulatory environment.
- Demonstrates business knowledge of the company’s models, model uses, and model interdependencies.
- Demonstrated ability to analyze risk and produce meaningful risk reports. Ability to multitask and prioritize work appropriately.
Our culture
You will be co-creating our business solutions
We believe that your feedback allows us to create the best solutions as well as adjusted work culture. You will have a real impact on the growth of the company and the product we develop.
Experienced team
We aren’t your run-of-the-mill tech start-up. At Silent Eight, everyone is a leader in their own field with perspective and experience shared across teams and departments.
Development-centric
Because learning never ends, we empower our employees to invest in themselves. We provide a range of resources such as paid Development Days, in-house training, lunch-and-learns, etc. to make sure our employees are continuing to grow each day.
Team building events
We know that our success is only possible if we work together as a team. We are a group of passionate individuals united by a common mission. Therefore we like to meet together regularly to connect not just as coworkers, but as human beings, whether it’s at an offsite in Dubai or a weekly “Tea Time” to catch up.
100% remote work forever
We are not new to working remotely. In fact, we’ve been doing it since 2013 and we know how to make you feel supported, connected, and included. We believe that the freedom to choose where you work from is important to finding the journey that is right for you.
Don’t wait! Join our team today!
Silent Eight is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, veteran status, or other classification protected by applicable federal, state or local law.
Job tags
Salary
