MRM Intern

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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