Model/Anlys/Valid Group Mgr - C14 - Chennai

Responsibilities

• Qualifications: Education: Framework Implementation & Oversight: Implement, and manage the business line's adherence to the Citi MRM Policy, Standard, and Execution Manual.
• Serve as the primary liaison between the business and the central MRM organization, Internal Audit, and regulators on all model risk matters.
• Chair or be a key representative for the business in Segment Model Risk Councils, discussing and resolving issues relevant to the business's model portfolio.
• Model Lifecycle Governance: Model Identification: Drive a robust process within the business to identify all quantitative methods, systems
• approaches that may be considered models and ensure they are submitted to MRM for a final determination.
• Development & Documentation: Oversee Model Sponsors to ensure every model has a complete, high-quality Model Development Document (MDD) that substantiates the model's conceptual soundness, data usage, and performance.
• Ensure all vendor models are subject to the same rigorous standards as internally developed models.
• Validation & Remediation: Act as the central coordinator for all model validation activities, ensuring Model Sponsors provide all necessary information for initial validations, annual reviews, and ongoing validations.
• Oversee the timely and effective remediation of all model limitations and validation findings.
• Develop and manage action plans to address issues within the specified due dates.
• Implementation & Use: Confirm that all models are implemented in controlled production environments (e.g., CSI, RPA, EUC) and that proper implementation testing has been completed.
• Enforce controls to ensure models are used exclusively for their approved purposes and that any model overlays are justified, documented, and approved.
• Ongoing Monitoring: Ensure Model Sponsors conduct ongoing performance monitoring (OPA) for all models at the minimum required frequency (Quarterly for High risk, Semi-Annually for Medium, Annually for Low).
• Review monitoring results to evaluate performance and identify any potential degradation that may require action.
• Model Change & Retirement: Manage the process for any changes to model methodology, implementation, or use, ensuring they are documented, reviewed, and approved by MRM prior to implementation.
• Oversee the formal retirement process for models that are no longer in use.
• Inventory, Attestation, and Reporting: Maintain a complete and accurate inventory of all business line models and their uses within the CitiRisk Model Risk Management System (MRMS).
• Lead the semi-annual model inventory attestation process for the business, confirming the completeness and accuracy of the inventory.
• Manage the process for requesting Policy Dispensations for temporary non-compliance and ensure any Policy Breaches are reported, escalated, and remediated.
• Team Leadership: Build, lead, and mentor a team of MRM governance professionals to support the business line's model risk activities.
• Promote a culture of risk awareness and accountability across all teams interacting with models.
• Qualifications 10+ years of experience in risk management, quantitative analysis, or a related field within a large, complex financial services firm.
• Expert knowledge of model risk management principles and regulatory requirements Proven experience leading governance functions and interacting with senior management, auditors, and regulators.
• Deep understanding of the model lifecycle, including development, validation, implementation, and monitoring.
• Strong leadership and people management skills with the ability to lead and influence a cross-functional team.
• Excellent communication and negotiation skills, with the ability to articulate complex concepts to diverse audiences. ------------------------------------------------------ Job Family Group: Risk Management ------------------------------------------------------ Job Family: Model Development and Analytics ------------------------------------------------------ Time Type: Full time ------------------------------------------------------ Most Relevant Skills Analytical Thinking, Credible Challenge, Data Analysis, Governance, Policy, Procedure
• Regulation, Risk Management Lifecycle. ------------------------------------------------------ Other Relevant Skills Business Acumen, Constructive Debate, Escalation Management, Policy and Procedure, Policy and Regulation, Risk Controls and Monitors, Risk Identification and Assessment, Statistics. ------------------------------------------------------ Citi is an equal opportunity employer
• qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran
• any other characteristic protected by law.
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