Risk: Model Risk
Grade: Manager
Business: Corporate Center Department: Risk Sub-Department: Model Risk
Location: Mumbai/Noida
About Risk
The Risk department ensures that the Bank’s risk is managed through a risk management architecture as well as through
policies and processes approved by the Board of Directors encompassing independent identification, measurement and
management of risks across the various businesses of the Bank. The Risk department of the Bank strives to proactively
anticipate vulnerabilities at the transaction as well as at the portfolio level, through quantitative or qualitative examination
of the embedded risks
About the Role
Model Risk team is involved in review, validation, maintenance and monitoring of regulatory or decision making models/
rule engines/ computation platforms in the areas of credit risk, operational and fraud risk and market/ liquidity risk across
retail and corporate businesses.
Key Responsibilities
KRAs would include the following,
Perform validations in one or more of the below domains:
o Validation of new models or model upgrades coming from data sciences team (retail Application,
Behavioral , Marketing scorecards/ Collections models/ Compliance and AML models)
o Monitoring of all existing scorecards
o Validation of regulatory models (PD/ LGD/ CCF, IFRS 9, Economic Capital and Stress testing) and pricing
models such as RAROC
o Validation/ monitoring of EWS, corporate and SME models
o Validation of operational and fraud risk management models (Fraud/ DTM)
o Validation of market risk and ALM models
o Validation of system platforms for risk and lending models (e.g. for ALM, for Treasury and Market Risk , for
Operational and Compliance Risk, for Rating and Retail Scorecards etc.
Active involvement in model governance activities such as framework updates, inventory maintenance, materiality
assessment
Participate in model governance committees and working groups and provide regular updates and
recommendations to senior management.
Preparation of reports and presentation materials for risk committees and senior management
Any adhoc analysis pertaining to models and portfolios required by the CRO and risk management department
Monitor and evaluate emerging risks and trends in model validation and provide guidance and recommendations to
senior management and other stakeholders.
Contribute to regulatory submissions and IA activities
Qualifications
Optimal qualification for success on the job is:
Masters in Statistics/ Quantitative Economics/ Quantitative Finance/ MBA with a quantitative modeling background
BE/BTech/Bstat/Bsc Eco/ BA Eco with suitable experience in analytical and risk management domains
Role Proficiencies:
Experience in design and development of Statistical models using regression (logistic and ML/AI techniques such as
GAM/ Machine learning/ Decision Trees), optimization, time series, survival modelling techniques will be an added
advantage
Conceptual knowledge in one or more of credit risk/ market risk/ALM/ AML/ Fraud risk/ collections
Hands on/ demonstratable experience with SAS/ Python/ R
Knowledge of regulatory requirements related to model validation.
Readiness to work with data at a granular level, write codes and create programs to undertake any analysis as
required
Basic understanding of different business lines and products/ processes in the bank (retail banking / corporate
banking/ treasury etc.)
Readiness to learn about new types of modeling methodologies/ new areas/ new concepts/ willingness to work out
of comfort zone; be flexible rather than being a specialist in a particular domain or model type
Should have excellent communication skills and ability to work with different stakeholders across risk, modelling,
audit and business verticals
Should be a good team player
Comfortable using excel, powerpoint, etc.
About Axis
Incorporated in 1994, Axis Bank is one of India’s most trusted banks & the third largest in the private sector. At Axis Bank,
customer centricity has always been the foundation of our business. Our efforts to address the requirements of a diverse
customer cross-section are powered by robust infrastructure, advanced technology, a comprehensive monitoring & control
framework & a large talent pool.
The Bank has a young & engaged workforce with an average age of 30 years. We are an equal opportunity employer &
believe in empowering our employees by offering rich roles, learning opportunities & flexibility to chart their career, their
way.
