Job Description
Job Summary:The Senior Model Validator's primary responsibility is to assess, validate, and ensure the accuracy and compliance of mathematical and statistical models used across the organization. The role supports the Bank's risk management and decision-making processes by reviewing model reliability, documenting validation work, and ensuring alignment with the bank standards, while applying sound risk-based judgment and controlled use of data.
Duties and Responsibilities:
- To align with the team's work plan and ensure that the validation of models is performed according to the rules set forth by the bank, including adherence to internal model governance, validation standards, documentation requirements, and agreed validation timelines.
- To conduct validation of bank models (ensuring that models are managed effectively so that they remain accurate), by executing validation tests on model methodology, assumptions, performance, stability, and implementation/operational use, and by applying a risk-based approach to identify material issues and usage limitations.
- Prepare detailed validation reports summarizing findings, documenting validation procedures, and providing recommendations for model improvements, including clear articulation of model risks (e.g., data quality risk, methodology risk, implementation risk), prioritization of findings, and specific, actionable remediation steps and monitoring recommendations.
- To ensure satisfactory and timely validation of models assigned to him/her by planning validation activities, maintaining complete working papers and evidence, managing dependencies (data extracts, model documentation, access), and escalating risks or blockers that may impact delivery or quality.
- To align with team timelines and to ensure timely and satisfactory output by tracking progress against milestones, coordinating required inputs, applying standardized templates/checklists, and using approved tools or automation (where available) to improve efficiency and consistency without compromising control or auditability.
- Collaborate with cross-functional model owners and stakeholders to ensure that model validation findings, if any, are addressed, including agreeing on corrective actions, validating closure evidence, supporting re-testing where applicable, and ensuring data-related findings (lineage, completeness, accuracy, reconciliation) are resolved with the appropriate data/process owners.
- Present model validation results and recommendations in Board and Management Committees, as necessary, including translating technical validation outcomes into decision-relevant risks, limitations, and recommended actions, and preparing clear materials that support governance and timely approvals.
- Actively participate in internal, external, and regulatory audits by conducting walkthroughs and answering queries of the auditors, ensuring validation artifacts (reports, working papers, datasets/evidence, issue trackers) are complete, traceable, and retrievable, and supporting responses on model risk, data management controls, and validation methodology.
Experience:
- 5+ years experience in modeling / model validation or related field
- 3+ years experience instakeholder management
- 2+ years experience in people management
Training and Certification:
- Strong understanding of banking products, including wholesale credit, retail credit, and treasury.
- Advanced proficiency in mathematics, statistics, or econometrics.
- Preferred:CFA, FRM, or a Master's degree in Statistics, Data Science, or related discipline.
