Model Risk Analyst

IDFC FIRST Bank
Mumbai, Maharashtra, India

Job Requirements

About the Role

The Model Risk Analyst in the Model Risk Management (Market Risk) team under the Risk function is responsible for validating and enhancing the bank’s risk models. This includes improving the accuracy, coverage, and automation of model validation processes, and independently validating statistical and mathematical models, particularly for retail lending scorecards. The role also involves supporting the validation of wholesale and market risk models, ensuring robust risk management practices across the organization.

Key Responsibilities

Primary Responsibilities

  • Lead initiatives to enhance the accuracy, granularity, and coverage of existing model validation processes.
  • Develop tools to automate model validation workflows and improve process efficiency.
  • Independently perform statistical and mathematical model development or validation, with a focus on retail lending scorecards.

Secondary Responsibilities

  • Conduct validation of wholesale rating models, including:
  • Quantitative and qualitative testing
  • PD calibration
  • Discriminatory power analysis
  • Sensitivity analysis
  • Rating migration testing
  • Validate market risk models such as:
  • Derivative and fixed income valuations
  • Bootstrapping
  • Value at Risk (VaR)
  • Sensitivity and capital charge models
  • Interest rate and foreign exchange simulations

What We Are Looking For

Education

  • Graduation: Bachelor’s degree in a quantitative discipline such as Mathematics, Statistics, Engineering, Economics, or related fields
  • Post-graduation: Master’s degree or higher in a relevant field (preferred)

Experience

  • Minimum 1 year of experience
  • Relevant experience in model development or validation, particularly in retail lending, wholesale credit, or market risk models

Skills and Attributes

  • Strong understanding of statistical and mathematical modeling techniques
  • Proficiency in tools such as Python, R, SAS, or similar statistical software
  • Familiarity with risk modeling frameworks and regulatory expectations
  • Analytical mindset with attention to detail and problem-solving skills
  • Ability to work independently and manage multiple validation projects
  • Strong communication skills to present findings and recommendations effectively

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Questions about this job

How do I apply for the Model Risk Analyst job at IDFC FIRST Bank?

Use the apply link on this page: you apply directly with IDFC FIRST Bank on LinkedIn. Before you do, score your resume against this job description on Fitboard. It shows which skills and keywords the job asks for that your resume doesn't show, so you can fix them first.

What skills does IDFC FIRST Bank want for this Model Risk Analyst role?

The job description asks for statistical and mathematical modeling techniques, Python, R and SAS. Make sure your resume shows the ones you have, in the words the job uses: applicant tracking systems look for them.

How can I get a job at IDFC FIRST Bank?

Apply to the IDFC FIRST Bank roles that match your experience, and tailor your resume to each job description: for this role that means showing statistical and mathematical modeling techniques, Python, R. A resume that matches the job's own keywords is more likely to get past screening. Fitboard scores your resume against this exact job for free.

Is this Model Risk Analyst job remote or onsite?

This is based in Mumbai, Maharashtra.

Is it free to apply? Does Fitboard charge anything?

Applying is free: you apply directly with IDFC FIRST Bank, and this job page and its apply link cost nothing. Checking your resume against this job is free too, with 3 free scans when you sign in and no credit card needed.

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