Data Scientist - BFSI - IIT/NIT/IIM/ISI

We need IIT Graduates with banking Experience as Data Scientist.

Job Description

- The Data Scientist position is an opportunity learn about many different types of models (financial, fraud, AI, Machine Learning etc.) in use at the Bank and understand them deeply.

- The role involves creation or maintenance of model development procedures specific to GT&O, assistance in development of model documentation to facilitate model validation by Model Risk Management (MRM), assistance in remediation of MRM's RAIs (required action items), interacting with stakeholders to ensure closure of EMRP breaches, representation in internal and external audits etc. 

- Responsibilities can include critically assessing and challenging models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation and documentation, writing technical reports for distribution and presentation to model developers, senior management, and audit.

Responsibilities

- Communicate with modeling teams to understand their models and intended use

- Help teams write documentation covering model methodology, data and performance

- Review and challenge models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation and documentation

- Understand the core methodology in solutions and the context in which it will be deployed so as to find risks/gaps

- Communicate with Model Risk Management group to understand and address Bank's risk management needs

- Develop efficient methodologies to detect and to quantify risks/gaps in modeling solutions, especially AI/ML

- Monitor metrics for out-of-tolerance breaches

- Look for unexpected risks / unintended consequences of an AI solution over its life cycle

- May oversee work of junior team members in same area of focus

Requirements

Education

- Masters/Bachelors degree in a quantitative field such as Mathematics, Physics, Finance, Engineering or Statistics from one of the premier institutes like ISIs/IIMs/IITs/NITs etc.

- Candidates must have any of financial certifications like CFA, FRM (at least level 1/part 1 should have been cleared).

- MBA is not must but preferred.

- Experience Range 4 - 7 years of professional experience as a Data Scientist or related roles.

Mandatory skills

- Hands-on experience with Statistical Modeling/Machine Learning/Deep Learning techniques is must.

- Well-versed in programming languages like R/Python/SAS and be familiar with Deep Learning Frameworks like Tensorflow/Pytorch.

- Knowledge of financial instruments and financial risk/operational model risk management principles is must.

- Ability to understand and implement techniques discussed in AI research papers (academic and technical).

Desired Skills

- Understanding of the financial industry including risk and regulatory environment desired.

- Able to communicate effectively and work well with the existing team.

- Work in high pressure environment and with attention to detail

- Team player