Model Control Office is a newly created unit within BI Finance responsible for ensuring Finance-owned models meet the governance standards required by the firm's Enterprise Risk Management Framework (ERMF). MCO office will partner with model owners in Product Control, Financial Control and Business Performance & Analytics within BI Finance in delivering our strategic goals.
Role Purpose :
- Managing a model control framework within BI Finance that complies with the Model Risk Management (MRM) framework & the Enterprise Risk Management Framework (ERMF).
- Distinct from both model development and independent model validation teams, the Model Control Office (MCO) oversees the overall control environment for model risk.
- Providing subject matter expertise to support conformance with model risk policies.
- Ad hoc projects.
Key Accountabilities :
Working with model owners to ensure the following is executed according to policy : Inventory Maintenance/Attestation, Model Monitoring, Model Approval, Documentation, Model Change Management, Model Decommissioning and Model Implementation Controls.
- Partnering with model owners to judge effectiveness of models including challenging where needed.
- Producing high quality model documentation. In order to write the documents, the individual will need to work with all relevant teams involved in the model lifecycle to understand the scope, assumptions, limitations and controls operated by them.
- Working with IVU through the model approval process.
- Producing MI for the BI Finance - Model Controls Office.
- Establishing a periodic controls and governance process including monitoring model usage/changes.
- Reporting functionally and locally to VP - MCO Chennai.
Desired Candidate Profile
Person Specification :
- Bachelor's degree (at a minimum) in a numerate subject such as mathematics, physics, financial engineering or a track record of performance that demonstrates this ability. Master's degree preferred.
- Excellent technical writing skills. Ability to produce high quality written communication including reviews of models, risk policies and presentations for technical and non-technical audiences.
- 3+ years of total work experience including 1+ years track record of performance demonstrating strong quantitative & analytical skills and technical writing skills.
- Ability to see the end to end and bigger picture - models, systems, feeds, end user requirements, etc.
- Strong oral communication skills and experience dealing with stakeholders in different locations.
- Familiarity with regulatory requirements.
- Team Player, Organized, Self-starter.
- Track record of interacting with senior stakeholders along with strong influencing skills.
- Highly analytical mind with a strong attention to detail.