MRM Intern

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.

Citi’s Mission and Value Proposition  explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

Description

Model Risk Management (MRM) is an independent oversight function. MRM’s Mumbai, Bengaluru and Gurugram centers are part of the MRM locations across the globe and are responsible for development and maintenance of Model Risk Management Policy and procedures, for evaluation and approval of high, medium and low risk models used for multiple usages and products.

The internship position will be part of the Model Risk Management, India team. His/her primary function is to support and conduct validation activities for Retail loss forecasting, Consumer risk scoring & segmentation models, Machine Learning models, Balance Forecasting, Stress Testing, PPNR and macro-economic forecasting models that are developed for regulatory submissions such as Comprehensive Capital Analysis and Review (CCAR) or Consumer Valuation. The roles are very critical to the organization, as MRM’s authorization on the use of the models are based on the reviewer’s evaluation results. The reviewer will adhere to the Model Risk Management Policy when evaluating models and ensure models, documentation, and monitoring MIS are compliant with applicable policies.

Intern Job Responsibilities:

• Review and validate new and existing model and framework, provide effective challenge, ensure validation work quality.
• Work on modeling approaches and model performance testing to enhance the MRM Model Testing Guidance. 
• Collaborate with the Model Risk Management team to monitor and report on model risks across the organization.
• Conduct data analysis and create reports to track and communicate model risk metrics.
• Participate in knowledge-sharing sessions to learn about best practices and industry trends in model risk management including AI and Climate models.
• Take on diverse projects and tasks to support the overall goals of the model risk management team.

There will be plenty of learning and growth opportunities with this position, from both technical and leadership perspective. The incumbent will be exposed to different areas of business operations and a variety of modeling approaches, including machine learning on top of industry standard tools.

Qualifications

• Pursuing Master’s degree (In 1st year) in a quantitative field (Statistics, Business Economics, Mathematics, etc.)
• FRM/CFA certified or pursuing the same.

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Citi is an equal opportunity employer, and 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, or any other characteristic protected by law.

If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

View Citi’s EEO Policy Statement and the Know Your Rights poster.