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Regulatory Capital Management Office - FCIR/Challenger-Associate

Bengaluru, KA
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  • Banking & Finance
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Job Details

The Central Challenger and Finance Calculation Independent Review (FCIR) teams within RCMO have a firm-wide purview for independently assessing and driving improvements in the following areasForecasting methodologies developed within various lines of business (LOBs) for the Firms Capital Stress Testing process. It also includes developing independent statistical models/analytical calculators to challenge LOB results.Key assumptions and pro-forma financial results across material entities, primarily in the context of the Firm s Resolution and Recovery process.Key financial calculations across the Firm, including those related to capital measurement, stress testing & reporting, product valuations, and other high priority processes.Integrity of regulatory reports by performing variance analysis of actuals.The teams partner with the Corporate Capital Stress Testing team, Recovery & Resolution team, all LOBs, Regulatory Policy, Financial Reporting, Quantitative Research and various other Finance and Risk teams on various firm-wide initiatives.Job SummaryThe individual will be a part of the teams that independently review and challenge key processes and analytics/tools for firm-wide capital stress testing, resolution & recovery and related processes.In the context of capital stress testing, the individual will be responsible for conceptualizing, developing and maintaining top-down challenger/benchmarking models (statistical models), primarily leveraging industry data, to assess the reasonableness of results from the more complex LOB (Line of Business) models. She/he will manage the end-to-end process of model validation by interacting with the Model Review Group.The candidate is also expected to play a lead role in qualitatively analyzing and documenting current and future state processes, identifying gaps and areas for further assessments in the prioritized areas.The individual will have responsibility for conducting reviews to evaluate the integrity and completeness of key financial calculations implemented in various User Tools (UTs) / applications (i.e. MS Excel, MS Access, VBA, SAS, Matlab, R, Python, EViews, etc.) . The reviews may be performed across all lines of businesses and corporate functions, covering high priority areas such as Regulatory Capital/RWA Calculations for Basel Valuation of financial products for price testing and/or fair value adjustment External financial reporting (e.g. 10K/10Q, Footnote disclosures, Call Report and FR Y9C) CCAR/DFAST and internal stress testingThe position involves interaction with many teams across finance and risk, lines of business (front/middle/back office) and reporting groups. The ability to work efficiently and communicate effectively across these boundaries will be one of the keys to success. The role and responsibilities of the successful candidate will be determined based on qualifications, prior experience and demonstrated skills.Core ResponsibilitiesAssume end-to-end ownership of firm wide challenger models (statistical models) including managing the model validation process and relevant controlsConceptualize, develop and maintain approach and implementation plan for newly developed challenger models to expand challenger coverageLiaise with various groups across the firm to define scope and manage engagementsReport and present plans, status and findings to various stakeholders and leadershipLead variousfinance calculationreviews to ensure high quality and timely deliveryUnderstand methodology used in the financial calculations and its broader impact / contribution to the firms overall finance / risk framework to assess conceptual and financial soundness of implementations as well as compliance with rules and best practicesEvaluate appropriateness of the assumptions and methodology utilized in UTs / models / applications and identify the errors and potential improvements in the calculation processesPartner closely with external data providers and model validation/governance resourcesIdentify and execute on innovation opportunities to develop tools for enhancing review effectiveness and efficiencyStay abreast of regulatory and industry requirements in finance / risk / accounting to manage reviews and changes in models, systems and processesPartner with other review functions on high priority reviews and ad hoc requestsEssential skills, experience, and qualificationsGraduate degree in a Finance, Engineering, Economics, Math/Statistics or related quantitative disciplineStrong quantitative, analytical skills and flair for independent research & problem solvingBackground or experience with various models, including pricing, capital, and/or financial forecasting modelsKnowledge of financial products, financial markets and regulatory requirementsExcellent leadership, prioritization and team management skillsStrong organizational, communication (verbal and written) and negotiation skillsExtreme attention to detailSelf-starter who is able to perform effectively in a fast paced, results driven environmentControl mindset (ability to identify control gaps and/or issues)Experience in statistical modeling software (SAS, EViews, R, Matlab etc.)Strong Excel, VBA and SQL skillsAdditional qualifications/experience considerationsPhD/CPA/CFA/FRM/MBA (or obtaining such qualifications)Experience and knowledge in regulatory capital rules (Basel and CCAR)Software development/programing experiences will be a plus
Additional Degree: BE/ B.Tech (Engineering)

Experience: 3-7


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