Employment Type: Full-time

To really stand out and make us fit for the future in a constantly changing world, each and every one of us at PwC needs to be an authentic and inclusive leader, at all grades/levels and in all lines of service. To help us achieve this we have the PwC Professional; our global leadership development framework. It gives us a single set of expectations across our lines, geographies and career paths, and provides transparency on the skills we need as individuals to be successful and progress in our careers, now and in the future.

As a Senior Associate/ Manager, you’ll work as part of a team of problem solvers, helping to solve complex business issues from strategy to execution. PwC Professional skills and responsibilities for this management level include but are not limited to:

Market Risk Management

• Developing market risk management strategies and framework, including but not limited Market Risk Appetite and Market Risk Capital and Limit Framework. Experience in Basel II.5 IMA implementation or Fundamental Review of Trading Book (FRTB) is highly preferred
• Developing polices, processes and organization structures that supports effective market risk management
• Conducting model validation on market risk models and valuation models for financial instruments. Knowledge in exotic or structured derivatives valuation and VaR/ ES models is preferred
• Implementation of common market risk / Treasury management systems (e.g. Murex, RiskManager, Kondor+ or Numerix) and relevant implementation/ operation experience is preferred
• Experience in regulations implementation and system enhancement project is preferred.
• Proficient in data operation and financial modelling tools: SQL, R or Excel VBA

Valuation and Treasury Risk Management

• Developing and validating valuation models with advanced mathematical program/ coding for various financial products including but not limited to plain vanilla derivatives and structured or exotic derivatives (e.g. Accreting Bermudan swaption, CMS Swap, Range Accrual Note, etc.)
• Developing and reviewing valuation policies and procedure such as valuation adjustment (ie. XVA, CVA, FVA etc.), independent pricing validation (IPV), bid offer reserve and fair value hierarchy etc.
• Providing valuation and quantitative support to both internal and external stakeholders. Knowledge in different financial pricing models (e.g. Stochastic Volatility Model, Local Volatility Model, Black model, Hull white model) is essential.
• Experience of economic or statistical projection techniques (e.g. time series, Logistic regression is preferred.
• Understanding common practices and regulatory requirement on various treasury and balance sheet management function is preferred. For example, Counterparty credit risk (CCR), Interest rate risk in banking book (IRRBB), Liquidity risk, Asset and liability management (ALM) and Fund transfer pricing (FTP) etc.
• Developing model risk governance framework and review the model risk controls and procedure

Required qualification and skills

• Bachelor degree or above in Finance or quantitative discipline, preferably major in Financial Engineering, Quantitative Finance, Mathematics, Statistics or Risk Management. Advanced postgraduate degrees is an advantage.
• Knowledge of

– Exotic or structured derivatives valuation and VaR / ES models;

– Financial risk management concept including market risk, counterparty credit risk, interest rate and liquidity risk, credit risk

• Strong technical skills with high level of coding inclination and proficiency in Excel VBA, Python, Matlab, C#, R or SQL
• Qualify member of CFA, FRM, CQF, QRM is preferred
• Strong verbal and written communication skills
• Excellent independent research skills and high degree of drive; and ability to multi-tasking with good attention to detail and judgement on prioritization

Preferred qualification and skills

• 5-6 years of experience in quantitative research or risk management capacity
• Knowledge of

– Common market risk / treasury management systems (e.g. Murex, Risk Manager, Kondor+, Bloomberg or Numerix) and relevant hands-on implementation / operation experience;

– Different financial products (fixed income, equity and other complex financial instruments)

• Experience in

– Market risk, counterparty credit risk or/and other financial risk management

– Basel II.5, Basel III FRTB or related regulations implementation and treasury/ risk system enhancement project

– Valuation, product control, ALM or/and other treasury finance function

The TP ICAP Group is a world leading provider of market infrastructure.

Our purpose is to provide clients with access to global financial and commodities markets, improving price discovery, liquidity, and distribution of data, through responsible and innovative solutions.

Through our people and technology, we connect clients to superior liquidity and data solutions.

The Group is home to a stable of premium brands. Collectively, TP ICAP is the largest interdealer broker in the world by revenue, the number one Energy & Commodities broker in the world, the world’s leading provider of OTC data, and an award winning all-to-all trading platform.

Founded in London in 1866, the Group operates from more than 60 offices in 27 countries. We are 5,200 people strong. We work as one to achieve our vision of being the world’s most trusted, innovative, liquidity and data solutions specialist.

Role Overview The role holder will lead the regional Financial Risk Management (FRM) team, providing real-time oversight and control of TP ICAP’s financial risk profile, including counterparty credit risk, liquidity risk and market risk.

Reporting into the Global Head of FRM, the role combines regional leadership, strong governance discipline, and deep technical expertise, ensuring financial risks are proactively identified, escalated and managed across the whole Group within approved risk appetite. The role acts as a trusted partner to the business while maintaining robust, independent risk oversight on behalf of the Chief Risk and Compliance Officer and the Board.

Key Responsibilities Strategic Leadership & Governance

• Lead the regional FRM team and set a clear vision aligned to the Group’s global risk strategy.
• Drive the global development, enhancement and consistent adoption of risk frameworks.
• Represent FRM in senior governance forums, including Change Management and Risk Technology Steer-co providing high‑impact commentary and challenge.
• Lead global initiatives that modernise risk management, including methodology evolution, automation, and technology transformation programmes.
• Develop team capability, supporting succession planning, coaching, and high-performance culture building.

Financial Risk Oversight & Insight

• Provide real‑time oversight of the region’s risk profile, ensuring timely identification, escalation, and resolution of emerging issues and limit pressures.
• Produce concise, decision‑grade risk intelligence for senior management, including dashboards and committee materials.
• Act as a key risk leader during periods of market stress, providing clear guidance to business and control partners.
• Strengthen forward‑looking risk management, including scenario analysis, stress testing and horizon scanning activities.

Counterparty Credit Risk

• Own the matched principal broking limit-setting process for the region across all asset classes, enabling business growth while maintaining robust risk standards.
• Lead the design, maintenance and continuous improvement of client credit scoring frameworks.
• Drive improvements to counterparty exposure measurement, data quality and reporting in partnership with Technology & Data teams.
• Oversee escalation and governance processes, challenging key assumptions and ensuring consistent risk discipline.

Liquidity Risk & Margin Oversight

• Oversee and manage margin and collateral processes, particularly during periods of elevated volatility.
• Enhance predictive tools for margin calls, liquidity stress metrics and early warning indicators.
• Lead the development of forward‑looking liquidity risk capabilities that support proactive risk management.

Market & Algorithmic Trading Risk

• Review and challenge applications for market risk permissions at desk level, ensuring alignment with the Group’s market risk framework.
• Manage and resolve market risk exposures arising from unmatched or failed trades.
• Build and improve tools that monitor market risk exposures, intraday movements and unusual trading behaviours.
• Contribute to the oversight of algorithmic trading risk, including governance, model review processes and ongoing monitoring.

Experience & Competencies Essential

• Bachelor’s degree in: Finance, Economics, Mathematics, Engineering, Computer Science, or related field.
• Proven experience leading financial risk teams and delivering strategic change.
• Deep expertise in counterparty credit risk, including exposure methodologies, credit scoring, and limit frameworks.
• Expertise in exchange trading and clearing operations
• Experience across multiple asset classes
• Strong knowledge of market and liquidity risk dynamics in fast‑moving markets.
• Demonstrated success leading cross‑functional technology or data transformation programmes.
• Ability to convey complex risk concepts in a clear, actionable way to senior stakeholders.
• High attention to detail, sound judgement, and confidence to provide independent challenge.

Desired

• Master’s degree or professional qualification (FRM, CFA, CQF or equivalent).
• Experience with electronic trading platforms such as Trading Technologies, Fidessa
• Fixed Income or Equity desk experience
• Practical coding or data analysis skills in Python, R, SQL or equivalent.
• Experience contributing to Group‑wide frameworks, large‑scale stress tests, or crisis management exercises.
• Exposure to algorithmic trading risk oversight within a regulated environment.

Job Summary: Manager, Stress Testing is responsible for defining, coordinating, and executing the Bank’s stress testing programme, encompassing macroeconomics, credit risk, interest rate risk in the banking book (IRRBB), and ESG/climate risk stress testing. Working closely with Risk, Treasury, Finance, and Group stakeholders, the role ensures that the stress testing framework meets the expectations of the CSSF and ECB, and that stress outcomes are robustly integrated into capital and liquidity planning, risk appetite calibration, and recovery planning. The position requires strong quantitative and data analytics capabilities to design models, and develop scalable stress testing scenarios.

You will work in close coordination with the Model Risk Manager, who retains ownership of the Model Risk Management framework and independent model validation.

Job Description: Essential Responsibilities:

• Identify issues and recommend best practices for risk management within the organization.
• Lead functional projects and programs that enhance risk assessment and mitigation efforts.
• Collaborate with teams to analyze business trends and their implications for risk management.
• Contribute to process improvements that enhance the effectiveness of risk management strategies.
• Provide guidance and support to team members in executing risk management initiatives.

Minimum Qualifications:

• 5+ years relevant experience and a Bachelor’s degree OR Any equivalent combination of education and experience.

Additional Responsibilities & Preferred Qualifications: Deliverables and key activities

• Define the specifications and methodology for the stress testing programme, ensuring alignment with ECB and other applicable EU regulatory requirements, in particular for systemically important institutions
• Lead the coordination and definition of key stress testing assumptions (macroeconomic, idiosyncratic, and reverse stress scenarios) with internal stakeholders and expert teams across risk, finance, and business lines, ensuring implementation of business requirements into models
• Support and challenge the execution of IRRBB stress testing, including interest rate sensitivity analyses (Delta EVE and Delta NII),
• Support the enhancement and provide second line oversight over Treasury’s behavioural assumptions for non-maturing deposits, prepayment models, and repricing profiles, ensuring integration of stress results into capital and liquidity planning frameworks
• Provide second line oversight over Treasury’s analytical models and risk quantification tools, including cash flow projection engines, investment portfolio analytics, and liquidity forecasting models, ensuring their outputs are fit for use in stress testing and regulatory reporting
• Define data requirements for the stress testing programme, including extraction from source systems (SAP, regulatory reporting databases), transformation, reconciliation, and loading into stress testing engines, ensuring data integrity and auditability
• Collaborate with the Model Risk Management function on model specification (macroeconomic linkage to modeling components), coordinate development with quantitative teams, and perform output analysis
• Maintain up-to-date documentation and process control for the stress testing programme, including scenario narratives, assumption rationale, data sourcing, programme governance, and reporting outputs and model limitations
• Interpret, review, and document all stress test results, including the rationale for key assumptions and their impacts on capital, liquidity, and solvency positions
• Present stress testing methodology and outcomes to senior management, risk committees, and regulatory bodies as required, articulating material risks and model limitations in a clear and concise manner
• Monitor market and regulatory developments, proactively enhancing the stress testing framework to ensure best-in-class standards and ongoing regulatory compliance (ECB Guide on ICAAP/ILAAP, EBA Guidelines, CRR)
• Assist with the integration of stress testing outcomes into risk appetite, capital planning, recovery planning, and other strategic processes (e.g., ICAAP/ILAAP, SREP submissions)
• Support ad hoc regulatory data requests, internal reviews, audits, and examinations related to stress testing frameworks and outcomes

Ideally, you would have

• 7+ years of experience in stress testing, quantitative risk management, or risk modelling within a regulated EU/EEA banking environment, ideally with direct exposure to ECB SSM supervision
• Master’s degree in a quantitative discipline (finance, economics, mathematics, statistics, physics, engineering, or computer science); professional certification (CFA, FRM, PRM, CQF) advantageous
• Strong knowledge of EBA stress testing methodology, ECB Guide on ICAAP/ILAAP, CRR/CRD requirements, and IFRS 9 ECL frameworks
• Proven track record in leading or coordinating stress testing or capital planning projects, including scenario design and/or model development
• Hands-on experience with econometric and statistical modelling, including credit risk PD/LGD/EAD models, NII sensitivity models, IRRBB behavioural models (non-maturing deposits, prepayments), and macroeconomic scenario linkage
• Hands-on experience with at least one of the following enterprise data and analytics capabilities: cloud-based data warehouses (e.g., GCP BigQuery), SQL across multiple dialects, Python-based data science and ML libraries (e.g., PySpark, scikit-learn), visualisation tools (e.g., Tableau, Power BI, Looker), or version-controlled development workflows (Git)
• Familiarity with treasury systems and infrastructure (e.g., SAP, Bloomberg) and their role in sourcing balance-sheet, position, and market data for stress testing purposes
• Capacity to interpret complex technical results for diverse audiences up to senior executive and regulator level
• Proven experience working in a fast-paced, international environment, managing multiple stakeholders and deadlines

The BCM Specialist Modelling team within Deloitte’s Audit & Assurance practice is a rapidly evolving team providing specialist analytics services to banking and capital market clients. The quickly evolving team caters to a range of data solutions including modelling, model reviews, data assurance, profiling and visualisations.

From the outset, you will be an integral part of a market-leading team, fostering a diverse environment that integrates varied expertise and perspectives. You will collaborate with international colleagues to provide diverse analytical solutions to a broad spectrum of clients, from leading UK financial institutions to emerging FinTech companies.

Connect to your career at Deloitte Deloitte drives progress. Using our vast range of expertise, we help our clients’ become leaders wherever they choose to compete. To do this, we invest in outstanding people. We build teams of future thinkers, with diverse talents and backgrounds, and empower them all to reach for and achieve more.

What brings us all together at Deloitte? It’s how we approach the thousands of decisions we make every day. How we behave, our beliefs and our attitudes. In other words: our values. Whatever we do, wherever we are in the world, we lead the way, serve with integrity, take care of each other , foster inclusion, and collaborate for measurable impact. These five shared values lead every decision we make and action we take, guiding us to deliver impact how and where it matters most .

Connect to your opportunity We are seeking to expand our team through the recruitment of dedicated, ambitious, and collaborative practitioners. As such, we are offering an opportunity to join as a Manager within the BCM Specialist Modelling team to support this challenging and rapidly expanding business area. Deloitte provides a distinctive career opportunity within a supportive, challenging, and high-growth environment.

The successful candidate will be responsible for the delivery of a diverse range of analytics and modelling services within banking and capital market audit and assurance. Candidates will possess a deep understanding of our clients’ industry, enabling them to anticipate complex business challenges and recommend appropriate strategic actions.

Responsibilities

• Ownership of a portfolio of Audit and Assurance clients;
• Provide direction/oversight to teams and taking responsibility for signing off the deliverables;
• Liaise with senior stakeholders across the firm and at the client;
• Integrate with the senior leadership to contribute significantly to the development and refinement of the team’s strategic objectives, translating them into actionable plans and taking ownership their effective execution;
• Providing oversight and guidance for engagements; managing senior team members, ownership of deliverables and timelines, leading client interaction and stakeholder management;
• Conduct performance reviews, provide constructive feedback to develop skills and confidence of experienced staff, and support the career development and progression of direct reports and team members;
• Leading teams in providing analytics and modelling services through the use of software such as SQL, Python, Tableau and VBA to deliver meaningful insights to our clients and help them to understand the risks and key drivers for their business;
• Strategically lead advanced analytics and modelling services, including model testing, data analysis, quality reviews, and report generation and visualisation across both trading and banking books, ensuring alignment with the project and team objectives;
• Working with audit teams to integrate analytics more deeply into the external audit approach, and with our clients to embed analytics into their business and culture;
• Development and delivery of new and innovative analytics tools to support evolving audit and regulatory requirements within the changing financial services environment;
• Contribute to the team’s and Deloitte’s thought leadership and strategy in Audit & Assurance analytics and volunteering to promote certain initiatives;
• Lead our team in multiple go-to-market initiatives, including proposal development and client pitches, helping champion the growth of our team across Audit & Assurance and across other service lines;
• Building and developing long term relationships with stakeholders across our client organisations.

Connect to your skills and professional experience Essential

• A PhD, Master’s, or Bachelor’s degree (or equivalent qualification) in a quantitative discipline such as Mathematics, Physics, Statistics, Computer Science, Accounting, Finance, or Engineering.
• Demonstrable experience within an analytics or modelling team in the financial services sector, gained either within a professional services firm or a FTSE 350 company.
• Proven end-to-end project management expertise, encompassing scope definition, resource allocation, budget management, successful delivery, and robust stakeholder engagement.
• Meticulous attention to detail and a structured, thorough approach to delivering high-quality outputs, including experience in reviewing code, analytical outputs, and documentation.
• A strong track record of mentoring, coaching, and developing both junior and senior team members, fostering a high-performance and collaborative working environment.
• Proven experience in leading, motivating, and managing diverse project teams, ensuring high performance and successful delivery of engagements.
• Advanced technical proficiency in Excel and at least one other programming language such as Python, SQL, VBA, or Tableau, used in a leadership capacity.
• Sound knowledge of one or more financial asset classes (e.g., derivatives, loans, mortgages).
• Experience in the development or validation of cashflow models.
• Demonstrated ability to analyse complex business problems, develop innovative solutions, and translate technical findings into strategic recommendations for clients.
• Ability to build and maintain strong client relationships, identify client needs, and contribute to business development activities.
• Exceptional oral and written communication skills, with the ability to present complex technical information clearly and concisely to senior stakeholders (both internal and external), influencing decisions and building consensus.
• Understanding of risk management principles and experience in embedding robust controls and governance within analytical models and processes.

Desirable

• A relevant professional qualification (e.g., CQF, FRM, CFA, ACA, CIMA).
• Experience with cloud-based data platforms (e.g., AWS, Azure, GCP) or big data technologies (e.g., Spark, Hadoop) for analytical workloads.
• Strong understanding of the regulatory environment and familiarity with data quality frameworks such as BCBS239, IFRS 9, Basel IV, Solvency II, or CRD V.
• Experience applying advanced analytical techniques (e.g., statistical modelling, machine learning, optimisation) to solve complex financial problems.
• Practical experience in applying machine learning or artificial intelligence techniques within a financial services context.
• Experience with advanced data visualisation tools (e.g., Power BI, Qlik Sense) to communicate insights effectively.
• Familiarity with Agile project management methodologies for efficient project delivery.

As a Trainer, you’ll be responsible for showcasing our products/services to potential clients through both online and offline demonstrations. Your primary goal will be to lead learning initiatives by self-delivery of learning content along with team deliveries. You’ll play a pivotal role in understanding client needs, effectively presenting our solutions, and providing exceptional support throughout the user’s learning process.

Key – Responsibilities :

· Identify training needs of the capital markets traders and building trading programmes both accurate and actionable.

· Delivery of Online and Offline Sessions scheduled primarily on their own with an eventual delegation to the supporting trainers.

· Training the existing training team in creating content for various learning initiatives.

· Working towards converting the potential clients to our clients by providing them detailed information & solving their queries.

· Directing structured learning experiences and monitor their quality results.

· Representing Quantsapp in various events and seminars across the country.

· Being the owner of CIC (Continuous Improvement Cycle) of existing content and programmes popular amongst Quantsapp users.

· Making on-line content for Mass Media to represent Quantsapp.

· Contribute to Print and Television media on occasions presented.

· Maintain the Training bandwidth to cater to all the training initiatives and ensuring the smooth functioning of entire Learning Team by Hire-Develop-Delegate model.

Requirements and skills:

· Proven experience in designing multiple training events in capital markets with Futures and Options in focus.

· Extensive knowledge Capital Markets in general and Futures & Options in particular.

· Hands-on with Options Trading will be an asset.

· Masters in Finance required, Charter in capital markets (CQF/CMT/CFA) desirable.

· Experience in managing team along with self-delivery of training

· Strong hold on Hindi, English required additional language preferred.

· Excellent Written & Communication skills.

· Must have delivered at least 1000 hours of training.

· Creation of self-generated trading models in Futures & Options is a plus.

· Presence on You Tube / Meta / LinkedIn/ Twitter with notable following is a plus.

Job Type: Full-time, On-Site.

Job Location: Andheri East, Mumbai

Job Purpose Oversee the Bank activities including investment, treasury and project operations financing portfolios to identify gaps and provide a macro view of the financial, compliance, and risk status of the overall Bank’s portfolio. This is achieved through (a) effective monitoring and reporting process in close coordination with the relevant stakeholders, (b) robust internal control practices for proper fiduciary and risk oversight, and (c) smooth, streamlined and well-designed processes to proactively manage risks including quality assurance, systems and tools, monitoring & data, and proper reconciliation with the Bank’s financials.

Key Accountabilities Corporate Middle Office (CMO):

• Support formulation and maintenance of Bank-wide Valuation Policy on assets and security collaterals in line with the best business practices.
• Perform the independent valuation function on OCR and other funds.
• Coordinate with the Financial Control Department in finalization of quarterly valuation and impairment for financial statements and ensure proper reconciliation of the NAV reported in the Bank’s financials with the actual investments data (including those provided by the custodians for the managed accounts under EFM; i.e. External Funds Managers).
• Ensure regular monitoring of security and collateral / guarantees valuations and the Loan to Value (LTV) ratio on a periodic basis.
• Ensure adherence for the funds managed/administered by Investment Department to the applicable and relevant investment policies.
• Perform the performance, risk and compliance monitoring and reporting activities on Bank-wide investment (mainly Equity, Managed Accounts under EFM, PE Funds), project operations (mainly project financing extended to the Bank’s member-countries) and Treasury (Liquidity Management)
• Ensure Pre-Trade and Post Trade Investment Compliance checks are performed on non-Treasury Investments.
• Perform detailed and comprehensive reporting on a periodic as well as ad-hoc basis.
• Perform execution of IFRS-9 Expected Credit Loss models for quarterly reporting and analytics and provide assistance to Financial Control Department for impairment and provisioning calculations for all financing and investment operations.
• Ensure maintenance and custody of risk management master data and ensure unique identification for obligor across all relevant systems.

Operational Excellence And Support

• Ensure that the relevant IsDB databases are accurately and timely updated
• Propose and implement process improvements to increase efficiency, effectiveness and compliance of the related operations.

Academic And Professional Qualifications

• Bachelor’s degree in Economics / Finance / Risk Management / Mathematics / Business Administration or related discipline.
• Professional certifications like CFA/PRM/FRM/CQF or equivalent is preferred.
• Minimum 5 years of relevant experience in Risk Management Function, of which at least 2 years in Investment oversight, Market Risk, Control, Monitoring and Reporting, preferably in a Multilateral Development Bank or a Multinational Bank.
• Languages: English: Mandatory l Arabic: Preferred l French: Preferred

Skills & Necessary Knowledge

• Risk Assessment skills.
• Asset Valuation Techniques, Financial Modeling.
• Governance, Risk and Control, Attention to detail.
• Analytical Thinking.
• Problem Solving
• IT literate (MS Office, Programming, SAP, Power BI, Bloomberg, Reuter, Misys/ FusionInvest, etc.)
• Sound understanding of Accounting principles (IFRS)
• Ability to read and understand financial statements
• Financial Modeling, Data Reconciliation/ Validation

Please see job role.

We are seeking a highly skilled quantitative professional to join the Risk Analytics group to develop and manage analytics for counterparty credit risk models focused on fixed income products, including repos, security lend/borrow, mortgages, and interest rate derivatives. The candidate will contribute to model development across the full model lifecycle, from methodology and design to implementation, validation, and ongoing performance monitoring. The successful candidate will also provide quantitative risk analysis to support day-to-day counterparty credit risk management.

Responsibilities

• Develop and implement analytics to support counterparty credit risk management.
• Design and Build infrastructure to consolidate counterparty credit risk models across systems.
• Conduct quantitative research to implement model changes, enhancements, and remediations.
• Design and develop analytical tools and dashboards to enhance risk transparency and decision-making.
• Build and maintain model performance monitoring, benchmarking, and backtesting frameworks.
• Assess methodologies and processes to identify potential weaknesses and evaluate risk materiality.

Partner with stakeholders across business, risk, technology, and other functional teams to ensure effective model development, governance, and usage

Qualifications

• Master’s Degree in a quantitative discipline; PhD preferred.
• A minimum of 3–5 years of experience in counterparty credit risk modeling.
• Deep understanding of pricing and risk calculations for financial products.
• Strong analytical skills, with the ability to interpret complex quantitative models and translate business requirements into robust library design, code development, and integration into IT systems.
• Proficiency in Python and other programming languages, with strong data-handling skills in SQL.
• Strong project management, organizational, and stakeholder communication skills.
• Excellent written communication skills, with the ability to produce clear, precise, and compliant model documentation.
• Familiarity with Numerix and/or Bloomberg platforms is preferred.

CQF Certification is highly desired.