MRM - Loss Forecasting Model Validation, Intermediate Analyst

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Job Overview

Citi’s Risk Management organization oversees risk-taking activities and assesses risks and issues independently of the front-line units. We establish and maintain the enterprise risk management framework that ensures the ability to consistently identify, measure, monitor, control and report material aggregate risks.

We’re currently looking for a high caliber professional to join our team as MRM - Loss Forecasting Model Validation, Intermediate Analyst (Internal Job Title): MRM - Loss Forecasting Model Validation, Intermediate Analyst,C11 based in Mumbai, India. Being part of our team means that we’ll provide you with the resources to meet your unique needs, empower you to make healthy decisions and manage your financial well-being to help plan for your future. For instance:

• Citi provides programs and services for your physical and mental well-being including access to telehealth options, health advocates, confidential counseling and more. Coverage varies by country.
• We believe all parents deserve time to adjust to parenthood and bond with the newest members of their families. That’s why in early 2020 we began rolling out our expanded Paid Parental Leave Policy to include Citi employees around the world.
• We empower our employees to manage their financial well-being and help them plan for the future.
• Citi provides access to an array of learning and development resources to help broaden and deepen your skills and knowledge as your career progresses.
• We have a variety of programs that help employees balance their work and life, including generous paid time off packages.
• We offer our employees resources and tools to volunteer in the communities in which they live and work. In 2019, Citi employee volunteers contributed more than 1 million volunteer hours around the world.

The Risk Analytics, Modeling and Validation role involves the development, enhancement, and validation of methods for measuring and analyzing all types of risks, including market, credit, and operational. In areas related to credit risk, individuals in this role develop, enhance, and validate models for measuring obligor credit risk, or early warning tools that monitor the credit risk of corporate or consumer customers, besides being involved in Loss Given Default studies. They also develop and maintain key risk parameters like default and rating migration data, usage given default data and transition matrices. This role is vital to the company as it provides a scientific and systematic approach to assessing and mitigating risks, thereby ensuring the company's financial stability, protecting its assets, and supporting its overall business strategy.

Responsibilities: 

• The role is typically for Model Validator.
• Perform model validations, annual model reviews, ongoing monitoring reviews (on Low and Medium Model Risk Rating (MRR) models) and model limitation remediation reviews for one or more model /product type (e.g., precious metals models) under the supervision of Validation a Lead (VL).
• Provide effective challenge to the model development process on Low / Medium MRR models in the specific model / product type, in accordance with the Citi Model Risk Management Policy.
• Assessing the ongoing performance monitoring of the models
• Contributing to regulatory and internal audit related responses
• Assisting with preparing the reports and other meeting materials to MRM senior management.
• Supporting the process of designing, developing, delivering, and maintaining best-in-class qualitative model validation process standards, guidance, practices, templates, and other documentation.

• Is an enthusiastic and early adopter of change; takes ownership for helping others see a better future and stay positive during uncertainty.
• Demonstrates and inspires curiosity in seeking new ways to overcome challenges; actively applies learning from failures.
• Challenges self and others to seek out and communicate alternative views even when unpopular; welcomes diverse ideas to improve outcomes.
• Acts as a change catalyst by identifying and helping others see where new ideas could benefit the organization.
• Proactively seeks to understand and act in alignment with organizational decisions; helps others prioritize team and enterprise success over their own personal agenda
• Focuses on highest-priority work aligned to business goals; helps others effectively manage competing priorities.
• Proactively identifies opportunities to streamline work; creates process improvements that enhance efficiency for self and the team.
• Takes personal accountability for escalating, identifying, and managing potential risk; implements controls that enhance the client experience and operational effectiveness.
• Anticipates problems and proactively identifies solutions that address the root causes and result in meaningful improvements.
• Sets high expectations and invests the necessary effort to deliver excellence and exceed performance goals.
• Role-models and helps others to do the right thing for clients and Citi in all situations, even when difficult
• Engages key stakeholders early and often and actively looks for opportunities to improve collaboration in achieving common goals.
• Proactively seeks out opportunities to volunteer in Citi programs that support the community; advocates for solutions that meet the needs of Citi’s clients and the community.
• Enthusiastically promotes the unique needs and preferences of colleagues; makes active commitment to help colleagues achieve balance, well-being, and development.
• Leverages varied networks to recruit diverse talent; advocates for colleagues with diverse skillsets, styles, and experiences to gain career opportunities.
• Empathetically listens and understands others’ positions before acting on issues; works to amplify voices that are minimized in the workplace

• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of teams and create accountability with those who fail to maintain these standards

Qualifications: 

• Minimum 4 years of relevant experience
• Experience in Quantitative Finance, Risk management, Analytics, Model Development or Model Validation is preferred.
• Excellent partnership and teamwork skills.
• Ability to formulate findings clearly and concisely in a written form and good verbal communication skills.
• Good analytic, creative thinking, and problem-solving abilities.
• Adept and meticulous at analysis and documentation of results.
• Ability to prioritize well, work well under pressure, and deliver results under tight deadlines.
• Programming skills in languages like Python, MATLAB, C/C++/C#, VBA or other coding language as need.
• Experience in developing and validating risk measurement methods and models is a plus.
• Programming skills in languages like Python, MATLAB, C/C++/C#, VBA or other coding language as need.
• Experience in credit (or other risk category) risk analysis, particularly in the development of early warning tools, is desirable.
• Experience in data analysis and interpretation and technical written skills.
• Knowledge of time series analysis, statistics, and econometrics.
• Strong analytical and problem-solving skills.
• Excellent communication and diplomacy skills.
• Ability to work independently and as part of a team.
• Proficiency in data analysis and interpretation.
• Ability to identify inconsistencies in data or results and define business issues.
• Ability to formulate recommendations on policies, procedures, or practices.
• Ability to exchange information in a concise and logical way and be sensitive to audience diversity.
• Strong analytical thinking skills and knowledge of data analysis tools and methodologies.
• Attention to detail and the ability to make informed judgments based on information.
• Project management skills, with the ability to manage multiple tasks and deadlines.

Education: 

Bachelor's/University degree or equivalent experience

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Job Family Group:

Risk Management

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Job Family:

Model Validation

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Time Type:

Full time

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Most Relevant Skills

Analytical Thinking, Credible Challenge, Data Analysis, Governance, Policy, Procedure, and Regulation, Risk Management Lifecycle.

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Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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