Head - Model Risk Validation

Role : Model Risk Validation Head GCC

Location : Chennai, India

About the Role :

We are seeking an experienced Model Risk Validation Lead to establish and lead a Model Risk Management capability within a Global Capability Center. This is a strategic leadership role responsible for building a globally aligned model validation function, ensuring robust governance, and supporting enterprise-wide model risk management activities.

The successful candidate will lead the development of a high-performing validation team, oversee model validation activities across multiple risk domains, and collaborate with global stakeholders to deliver high-quality, independent model validation services. This role offers the opportunity to shape a Center of Excellence for model risk management while driving operational excellence, regulatory compliance, and continuous improvement.

Key Responsibilities :

Strategy & Capability Development :

- Establish and operationalize the Model Risk Validation function within the GCC.

- Define the target operating model, governance framework, service scope, and long-term capability roadmap.

- Build, mentor, and lead a high-performing team of model validation professionals.

- Drive the transition from vendor-supported operations to a sustainable in-house delivery model.

Model Validation & Oversight :

- Lead independent validation of financial and risk models, including documentation reviews, methodology assessments, benchmarking, sensitivity analysis, independent testing, and validation reporting.

- Support validation activities across credit risk, IFRS 9/ECL, stress testing, compliance, and other financial risk models.

- Review and challenge model assumptions, methodologies, limitations, and validation outcomes.

- Ensure validation deliverables meet established governance, documentation, and quality standards.

Governance & Risk Management :

- Develop and maintain quality assurance, peer review, and control testing processes.

- Support model inventory management, periodic reviews, change validations, ongoing monitoring, and model risk reporting.

- Monitor validation progress, remediation activities, key risk indicators (KRIs), and operational metrics.

- Escalate material model risks, control weaknesses, and delivery concerns to leadership as appropriate.

Vendor & Delivery Management :

- Manage external partners supporting model validation activities.

- Define and monitor service levels related to quality, productivity, documentation, and turnaround time.

- Facilitate knowledge transfer and capability development within the internal team.

- Reduce vendor dependency through structured capability building and process maturity.

Stakeholder Management :

- Partner with global Model Risk Management, Model Validation, and Risk teams across multiple regions.

- Build trusted relationships with senior stakeholders and ensure effective communication on validation outcomes, risks, and remediation efforts.

Operational Excellence :

- Oversee model validation operations, control testing, model risk reporting, and governance activities.

- Drive automation, process standardization, and continuous improvement initiatives to improve efficiency and scalability.

- Promote best practices across the model lifecycle and support the adoption of model lifecycle management tools.

Required Qualifications :

- Bachelor's or Master's degree in Finance, Mathematics, Statistics, Economics, Engineering, Data Science, or a related quantitative discipline.

- 14+ years of experience in Model Risk Management, Model Validation, or Model Development within the banking or financial services industry.

- Strong understanding of mathematical finance, statistics, and quantitative risk modeling.

- Experience validating credit risk, IFRS 9/ECL, stress testing, or other financial risk models.

- Deep knowledge of model governance frameworks and regulatory expectations.

- Experience establishing or scaling offshore/GCC capabilities is highly desirable.

- Proven leadership experience building and managing high-performing teams.

- Experience managing third-party vendors and hybrid delivery models.

- Familiarity with model lifecycle management tools and validation frameworks.

- Strong stakeholder management, communication, and influencing skills.

Preferred Skills :

- Strong analytical and problem-solving abilities.

- Experience with statistical programming tools such as Python, R, SAS, or SQL.

- Knowledge of model lifecycle management, model governance, and regulatory standards.

- Experience driving automation and process improvement initiatives.

- Ability to work effectively with cross-functional and geographically distributed teams.

(ref:hirist.tech)