Genpact - Senior Manager - Market Risk & Counterparty Credit Risk Model Validation

Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose - the relentless pursuit of a world that works better for people - we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI.

Inviting applications for the role of Senior Manager - Market Risk and Counterparty Credit Risk Model Validation

In this role, you will be responsible for model testing, independent validation & documentation - for one or more Banking and Capital Markets (BCM) clients in the North America or other markets.

Responsibilities:

- You will be leading a team of model validators providing independent model validation services for a large banking client and will involve end-to-end validation of risk and regulatory models in market risk, market risk stress testing and counterparty credit risk.

- It will also involve guiding / coaching / mentoring the team members, review / QA of team's work, work allocation and monitoring of validation workflows, performance management of team, people management and require close interaction with client stakeholder groups including model development, model owners/lines of business, auditors and client model validators.

- It will be required to maintain relationship with client and addressing their concerns (Voice of Customer) towards providing best-possible validation services to the client. While it is not the primary requirement, it may be needed to perform hands-on model validation work from time to time. The activities will include, but will not be limited to the following:

Minimum 5 responsibilities recommended:

- Independent model validation, especially comprehensive model validation within 2nd line of defense, using SR 11-7 or E23 or similar guidelines.

- Exhaustive model validation will include conceptual assessment of model's use, methodology, assumptions, limitations and on-going monitoring and control, model's outcome analysis.

- Development of benchmark models is usually out of scope.

- Prepare model validation report summarizing findings and provide recommendations.

- Since it is a leadership role, the activities will also include project / program management support by providing data, information and insights about the operations and people.

Qualifications we seek in you!

Minimum Qualifications / Skills:

- Educational qualification: master's and bachelor's degrees in quantitative disciplines, like, mathematics, statistics, economics, computer science and engineering, etc.; MBAs must have bachelor's degree in one of the above-mentioned disciplines.

Relevant experience:

- Relevant experience in independent model validation of market risk models (e.g., VaR, SVaR), market risk stress testing models, counterparty credit risk models (e.g., PFE, CVA), derivatives valuation models (PDE methods, simulation methods, etc.), interest rate term structure / volatility models

- Effective challenge to model development (1st line), design and interpretation of model effectiveness tests, model validation report writing, etc.

- Understanding of and experience in regulatory risk modeling/validation - SR 11-7, Basel's market risk final rules / FRTB, etc.

- Excellent knowledge of various statistical, stochastic calculus and numerical methods techniques

- Strong client management and communication/presentation skills - written & verbal; self-driven, proactive, "can-do" attitude; ability to work under ambiguity and with minimal supervision

Preferred Qualifications/ Skills:

- FRM or CQF certification is a plus

Genpact is an Equal Opportunity Employer and considers applicants for all positions without regard to race, color, religion or belief, sex, age, national origin, citizenship status, marital status, military/veteran status, genetic information, sexual orientation, gender identity, physical or mental disability or any other characteristic protected by applicable laws. Genpact is committed to creating a dynamic work environment that values diversity and inclusion, respect and integrity, customer focus, and innovation. Get to know us at genpact.com and on LinkedIn, X, YouTube, and Facebook.

Furthermore, please do note that Genpact does not charge fees to process job applications and applicants are not required to pay to participate in our hiring process in any other way. Examples of such scams include purchasing a 'starter kit,' paying to apply, or purchasing equipment or training.