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, 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

You will also:

· Use feedback and reflection to develop self-awareness, personal strengths and address development areas.

· Delegate to others to provide stretch opportunities and coach to help deliver results.

· Develop new ideas and propose innovative solutions to problems.

· Use a broad range of tools and techniques to extract insights from current trends in business area.

· Review your work and that of others for quality, accuracy and relevance.

· Share relevant thought leadership.

· Use straightforward communication, in a structured way, when influencing others.

· Able to read situations and modify behavior to build quality, diverse relationships.

· Uphold the firm’s code of ethics and business conduct.

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

We’re seeking a future team member for the role of SVP – Model Risk Management AI, Wealth and Investment to join our Model Risk team. This role is located in New York City, New York.

In this role, you’ll make an impact in the following ways:

• Lead the Model Risk Management framework for a defined portfolio of models (e.g., pricing, risk, capital, stress testing, AI/ML, and valuation models) by setting clear standards for model risk identification, assessment, validation and governance, and by ensuring consistent application across businesses and legal entities.
• Oversee and review independent model validations and ongoing performance monitoring by demonstrating deep quantitative expertise, providing effective challenge to model design, data, assumptions and implementation, and ensuring that model risk is appropriately quantified, documented and mitigated.
• Establish and chair or actively contribute to model risk governance forums by defining decision‑making processes, setting model approval thresholds and ensuring that model risk topics are escalated, debated and resolved in line with internal policies and regulatory expectations.
• Advise senior business, risk and Engineering stakeholders on model risk issues and emerging quantitative methodologies by translating complex analytical concepts into clear risk insights and recommendations that support sound business decisions and responsible innovation.
• Drive continuous enhancement of the firm’s model risk policies, standards, tools and methodologies by monitoring external regulatory developments, industry good practice and advances in quantitative methods, and by embedding these into practical, risk‑sensitive processes.
• Manage, develop and coach a team of model risk professionals by setting clear objectives, providing technical and behavioral guidance, promoting a culture of rigorous challenge and collaboration, and ensuring appropriate capacity and capabilities to meet current and emerging model risk demands.
• This role will be focused on GenAI and Wealth Models.

To be successful in this role, we’re seeking the following:

• Advanced degree (Master’s or PhD preferred) in a quantitative field such as mathematics, statistics, econometrics, physics, engineering, quantitative finance or computer science, or equivalent experience.
• Professional certifications in risk, quantitative finance or related areas (e.g., FRM, PRM, CQF) are advantageous.
• Strong knowledge of financial markets, products and risk management practices, including experience with complex mathematical/statistical modeling techniques.
• Typically, 8-12 years of experience
• Advanced quantitative and analytical skills, including deep knowledge of model development, validation and performance measurement techniques, and the ability to provide credible effective challenge.
• Strong leadership, communication and stakeholder management skills, with the ability to influence senior leaders, shape governance decisions and translate complex quantitative issues into clear risk insights.
• Proven people management capabilities, including building and leading high‑performing quantitative teams, coaching technical staff and fostering a culture of integrity, accountability and continuous improvement in risk management.

The Portfolio Analytics and Monitoring (“PAM”) team operates within the Portfolio Risk function as a “second line of defence,” providing critical insights to inform decision-making by the Chief Risk Officer, senior management, Risk Management Committees, and other governance bodies.

The team focuses on portfolio analytics including forward-looking concentration risk analysis and detection of material risks. It collaborates closely with Market Risk, Credit Risk, and other Risk teams, as well as the first line of defence, leveraging frameworks such as stress testing and early warning indicators to provide comprehensive portfolio intelligence.

Role Description:

• Develop a global, forward-looking view of the portfolio by leveraging multiple risk metrics and techniques (default loss, stressed exposure etc.) while integrating portfolio analytics and monitoring with Stress Testing, Risk Identification and other Risk frameworks.
• Analyse the firm’s portfolio across multiple dimensions such as rating, sector, product etc. while developing and enhancing portfolio risk frameworks (e.g., Default Risk Appetite, Sector Concentration).
• Systematically identify, measure, and monitor material risk concentrations across the portfolio.
• Undertake risk-return assessments and provide recommendations for portfolio optimization through what-if scenario analysis using economic/stress capital models, particularly focusing on material portfolio concentrations.
• Develop portfolio risk analytics, controls, and dashboards to produce portfolio intelligence suited for decision-making by senior management.
• Summarize portfolio risk findings and deliver well-articulated, impactful presentations to senior management and risk committees.
• Foster collaboration across teams spanning risk, front office, middle office, audit, I.T. etc. and participate in global projects related to Portfolio Risk.
• Implement strong governance, controls, and documentation for team processes and frameworks, including Risk Models owned by the team.
• Design, build and maintain interactive tools and dashboards (e.g. Power BI) requiring advanced data handling and analysis, while utilizing Machine Learning models where appropriate.

Skills, experience, qualifications, and knowledge required:

• 8+ years of experience in core risk management roles with at least 5+ years of experience in Portfolio Risk Management (e.g., Credit Portfolio Management) with strong exposure to both loans and derivatives.
• Experience of markets and financial products across major asset classes (FX, Credit, Equities, Rates, Loans) and their correlations.
• A Background in risk measurement techniques and metrics across risk types (Market, Credit, etc.) such as stress testing, economic loss models (IRC style), PFE, CVA, RWA, JTD etc and experience in non-financial risks (Operational Risk).
• Master’s degree or equivalent qualification in Finance, Economics, Risk Management, Quantitative Finance, Mathematics, Statistics, Engineering, or related discipline is preferred. Professional certifications such as FRM, CQF, or CFA would be advantageous.
• Excellent analytical, quantitative, and problem-solving skills with ability to interpret and drill-down into complex portfolio risk metrics.
• Experience in mortgage/securitized products, leveraged loans etc., concentration management, risk mitigation techniques (Credit Insurance) and portfolio RWA/capital optimization would be an advantage.
• Entrepreneurial mindset with ability to break down silos and a proven track record in stakeholder management and cross-functional collaboration.
• Ability to work effectively under pressure in a fast-paced environment with a high degree of engagement with senior management.
• Exceptional interpersonal, verbal and written communication skills with proven ability to conduct presentations to senior management, including those with non-risk backgrounds.
• Proficiency in Python for data manipulation, Extract, transform, and load (ETL) processes, and model development for data analysis and visualization tools.
• Working knowledge of Power BI and SQL including familiarity with Power Query and M language. Experience in Alteryx and Machine Learning would be an advantage.

Deloitte Strategy, Risk & Transaction helps entities mitigate risk while discovering new opportunities to create value. Our end-to-end risk services span all domains, from managing strategic risks in the C-Suite to improving board oversight, and from balancing financial and environmental policies to addressing cyber threats. 

Your work profile:

• Interpret and implement FRTB (SA/IMA) and/or CVA regulatory requirements

• Perform gap assessments, impact analysis, and regulatory self-assessments

• Translate regulatory expectations into business and functional requirements

• Work with stakeholders across front office, risk, finance, and technology

• Support design, testing (UAT), and implementation of risk systems

• Develop/assist with Python-based data analysis and tooling where applicable

• Contribute to regulatory reporting, submissions, and implementation reviews

Key skills required:

• Excellent communication, stakeholder management, and analytical skills.

• 5–8 years of experience in market risk, regulatory programs, or risk transformation
• Any Graduate

• Strong understanding of derivatives, valuation, and market risk concepts

• Exposure to FRTB and/or CVA frameworks preferred

• Experience in business analysis, IT delivery, or regulatory implementation

• Strong analytical and stakeholder management skills

• Python or data analysis experience

• Knowledge of risk systems and reporting frameworks

• Professional certifications (CFA / FRM / CQF)

We’re seeking an experienced candidate to join our Internal Audit team as a Vice President and Audit Coverage Manager leading coverage of Financial Risk Management within the MSESE Group based in Frankfurt. The Financial Risk Management audit team performs audits of the Second Line of Defense to form a view on the effectiveness of controls operating within Firm Risk Management.

The Internal Audit Division (IAD) drives attention and resources to vulnerabilities by providing an independent and well-informed view and impactful messages about the most important risks facing our Firm. This is accomplished by performing a range of assurance activities to independently assess the quality and effectiveness of Morgan Stanley’s system of internal control, including risk management and governance systems and processes. IAD serves as an objective and independent function within the Firm’s risk management framework to foster continual improvement of risk management processes.

This is a Vice President level position within Business Audit, which is responsible inspecting controls in front, middle and back offices.

What You’ll Do In The Role

• Formulate and lead a wide range of assurance activities to assess risks within coverage area and the state of controls in place to mitigate them
• Proactively identify risk and emerging risk, and factor into risk assessment and assurance coverage
• Articulate actionable insights to management regarding criticality and impact of risks to the business
• Effectively partner with colleagues and stakeholders globally to drive effective working relationships
• Align projects and initiatives with department and coverage area priorities, and oversee team’s execution of deliverables in accordance with audit methodology and quality standards

What You’ll Bring To The Role

• A minimum of ten years of relevant financial services experience
• Advanced knowledge of Financial Risk Management core concepts, methodologies and applicable regulations, with a preference for those with experience of auditing fully –regulated German Banking entities
• Strong understanding of audit principles, methodology, tools and processes (e.g., risk assessments, planning, testing, reporting and continuous monitoring)
• Ability to articulate risk and impact clearly and succinctly to different audiences
• Effective change and project management techniques and ability to support teams in adapting new ways of working
• Ability to leverage and analyze data to inform focus and views on risk
• Ability to coach and mentor others and create an inclusive work environment for team
• Experience communicating with regulators
• Relevant certifications (e.g., CIA, CFA, FRM, CQF) preferred

Your Key Responsibilities

• Demonstrate deep technical capabilities and industry knowledge of financial products
• Lead components of large-scale client engagements and/or smaller client engagements while consistently delivering quality client services
• Understand market trends and demands in the financial services sector and issues faced by clients by staying abreast of current business and industry trends relevant to the client’s business
• Manage risk, and effectively communicate with key stakeholders regarding status, issues and key priorities to achieve expected outcomes.
• Responsible for decision-making, optimizing processes, resource management, and overseeing team management as needed for task execution.
• Accountable for allocating personnel, supervising team members, assigning tasks, ensuring that the team has the necessary tools and support to succeed in their roles and optimizing and evaluating their performance to meet organizational goals.

Skills And Attributes For Success

• MRM (SR 11-7 experience) / Model Audit / Model governance along with Gen AI / Traditional AI
• Deep understanding of various neural network architectures, including convolutional neural networks (CNNs), recurrent neural networks (RNNs), transformers, and generative adversarial networks (GANs), along with their applications in supervised, unsupervised, and reinforcement learning.
• Proficiency in the development / validation of state-of-the-art generative AI models, including RAG structures, as well as experience with natural language processing (NLP) and large language models (LLMs), with skills in data preprocessing, model training, hyperparameter tuning, and evaluation metrics specific to generative tasks for creative content generation and data synthesis.
• Utilize leading AI platforms like OpenAI, Azure GPT, Google Gemini, LLaMA, or Mistral, with proficiency in at least one platform.
• Conduct comprehensive testing and evaluation of AI models on tasks such as text summarization, content generation, and other NLP applications.
• Experience in performance testing of AI models, including evaluation for hallucinations, toxicity, bias, robustness, adversarial attacks, and cybersecurity vulnerabilities.
• Knowledge of responsible AI practices, ensuring fairness, transparency, and accountability in AI model development and deployment.
• Demonstrate ability to learn and apply new concepts, specifically in the area of financial risk management.
• Excellent communication and problem-solving skills, with the ability to explain complex AI concepts to non-technical stakeholders.

Ideally, You Will Also Have

• Proficiency in Python and ML frameworks such as TensorFlow, PySpark and PyTorch. Knowledge in AutoML tools which are used for automating the machine learning pipeline and Auto Kubernetes for managing containerized applications.
• Experience with cloud-based platforms for building, training, and deploying machine learning models, such as AWS SageMaker, Azure ML, or Google Cloud AI.
• Experience is writing validation reports as per MRM practices.

What We Look For

• Undergraduate (4-year degree) or master’s or Ph.D. in Mathematics, Engineering, Computational Finance, Artificial Intelligence, or a related field with hands-on experience.
• Relevant certifications in AI/RAI from GARP/ Quantitative courses such as CQF.
• Ability to work in a fast-paced environment and support engagements with global financial institutions
• Willingness to travel based on client needs.

Do you have the desire to analyze data and perform groundbreaking research to drive business outcomes? Nationwide has been using data to serve our members and drive business outcomes for almost 100 years. Our industry-leading workforce adopts an agile work environment and a collaborative culture to deliver outstanding solutions and results. Our Risk Analytics Researchers play a key role in harnessing the power of data to deliver business results. Specifically, they are responsible for modeling sophisticated problems, discovering insights and identifying business opportunities from data using a variety of techniques from mathematics, actuarial studies, statistics, data science and financial engineering.

As a Consultant, you’ll work on projects associated with the design, development, and application of unique risk models. You’ll need a basic understanding of broad business objectives and will work with business partners across the finance organization to develop solutions to pressing business needs. We’ll count on you to be a subject matter authority in Nationwide’s risks. It’s imperative that you are fully proficient with basic and sophisticated mathematical, statistical and analytical techniques associated with risk modeling.

Job Description

Key Responsibilities:

• Researches and implements financial engineering, data science and statistical techniques for risk management and business applications.
• Completes regular testing of risk limits to provide distinct management guidance on asset allocation, risk transfer and product growth decisions.
• Owns complex quantitative modeling processes and philosophies. Identifies industry standards to understand if models are working as intended.
• Collaborates to ensure that consistent model assumptions, processes and outputs are well understood and that modeling standard methodologies are upheld.
• Reviews and analyzes model output to identify model limitations and their impact. Provides corrective quantitative methods.
• Crafts and updates model documentation for business continuity purposes.
• Collaborates to develop creative solutions to business problems.
• Acts as the technology owner for Risk Analytics.

May Perform Other Responsibilities As Assigned.

Reporting Relationships: Reports to Risk/Actuarial leader.

Typical Skills And Experiences

Education: Undergraduate studies in finance, accounting, economics, statistics, mathematics or related subject area required. Graduate-level studies in a related field with advanced degree highly desirable.

License/Certification/Designation: Progress toward FCAS, FSA, CQF, CFA or similar preferred.

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths – whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.

Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.

In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview

Bank of America’s Model Risk Management (MRM) function provides independent oversight of models across their lifecycle to ensure adherence to internal policies and regulatory requirements. The team is responsible for model risk tiering, independent validation, and ongoing performance monitoring. MRM partners closely with Model Developers, Model Owners, and Front-Line Units to assess model design, methodology, implementation, and outcomes. The function plays a critical role in maintaining strong model risk governance, providing effective challenge, and supporting regulatory examinations and audit reviews to ensure the sound management of model risk across the enterprise.

Job Description

We are seeking an experienced Model Risk Management professional with 3+ years of experience in model identification, model development, validation, risk management, or quantitative analytics. The successful candidate will perform independent validations of complex models used across Consumer Banking, Mortgage, Home Equity, Consumer Vehicle Lending, Credit Risk, Valuation, Forecasting, and Optimization. The role requires close collaboration with model stakeholders, effective challenge of model design and assumptions, and strong regulatory and governance expertise.

Responsibilities

• Manage model identification requests, lead independent model validations, including the design and execution of robust testing strategies to assess model performance and verify implementation.
• Evaluate model methodology, conceptual soundness, assumptions, limitations, and fitness for purpose, while providing effective challenge to Model Developers and Model Owners.
• Review model documentation, development evidence, monitoring results, model changes, and governance controls to ensure compliance with internal policies and regulatory expectations.
• Prepare and present clear, risk-focused validation reports, findings, and recommendations to senior management, governance committees, auditors, and regulators.
• Partner with Model Owners, Front-Line Units, and Risk teams to prioritize validation activities, support regulatory examinations and audits, and enhance model risk governance across the enterprise.
• Mentor and develop junior team members, fostering technical excellence and strong validation practices.

Requirements

Education: Master’s degree or Ph.D. in a quantitative discipline such as Statistics, Mathematics, Economics, Finance, Engineering, Computer Science, Operations Research, or Data Science.

Educational institutes: Top tier – IITs, NITs, Indian Statistical Institutes etc.

Certifications (preferred but not mandatory): FRM, PRM, CFA, CQF etc.

Experience Range: 3+ years

Foundational skills

• Master’s degree or Ph.D. in a quantitative discipline such as Statistics, Mathematics, Economics, Finance, Engineering, Computer Science, or Data Science.
• 3+ years of experience in Managing Model Identification Requests, Model Risk Management, Model Validation, Quantitative Analytics, Model Development, or Risk Management within the financial services industry.
• Strong expertise in statistical, predictive, and quantitative modeling techniques, with experience validating credit risk, forecasting, valuation, financial, or optimization models.
• Solid understanding of model risk management principles, model governance frameworks, and regulatory expectations (e.g., CCAR, OCC, PRA).
• Proficiency in Python, SAS, R, SQL, or similar analytical tools.
• Strong analytical, problem-solving, and critical thinking skills, with the ability to independently challenge model assumptions, methodologies, and outcomes.
• Excellent written and verbal communication skills, including the ability to present complex technical concepts and validation findings to senior stakeholders, auditors, and regulators.

Desired Skills

• Experience validating model identification process, consumer lending, mortgage, home equity, auto lending, or valuation models.
• Knowledge of machine learning and AI model validation, including explainability, bias assessment, monitoring, and model performance evaluation.
• Experience supporting regulatory examinations and internal audits