Manager, Model Validation

Job Description

Model Validation Lead – Compliance, Financial Crime, Capital Planning, Treasury/ALM & Fraud | Mitsubishi UFJ Financial Group

The Tone:
This is a full-time role at Mitsubishi UFJ Financial Group (MUFG), located in-person in Mumbai, India. MUFG is one of the world’s leading financial groups, with 150,000 colleagues dedicated to making a difference for clients, organizations, and communities globally. This role is crucial for managing model risk, which can lead to significant financial loss, poor decision-making, or reputational damage for the bank. By verifying models perform as expected, this position ensures the continued safety and soundness of critical banking operations.

The TL;DR
• Role: Full Time
• Type: Full-time
• Location: In-person, India (Maharashtra), India – Mumbai

• Team: Reports to the Head of Model and EUCC Risk in MGS India; responsible for the enterprise-wide model validation and control function. Leads a team of 3-4 model quants.
• Mission: Ensure the continued safety and soundness of models used across the bank by verifying their performance and managing associated risks.
• Tech Stack: Python, SAS, MATLAB, R

What You’ll Actually Do
• Validation: Independently validate models across Compliance, Financial Crime, Capital Planning, Treasury/ALM, and Fraud, including both internally developed and vendor-sourced models.
• Testing: Design and execute independent testing and benchmarking, including calibration testing, sensitivity analysis, stress testing, back-testing, and comparison to alternative models or industry practices.
• Compliance: Assess compliance with Americas Model Risk Management Policies and Procedures and U.S. regulatory expectations.
• Stakeholder Engagement: Engage with model developers, model owners, and various business stakeholders to challenge methodologies, resolve validation findings, and support remediation efforts while maintaining independence.
• Team Leadership: Manage and develop a team of validators, ensuring the quality, consistency, and timely delivery of validation outputs.

The Must-Haves
• Background: Advanced degree (Master’s or PhD preferred) in Quantitative Finance, Statistics, Economics, Mathematics, Engineering, Data Science, or a related discipline, with experience in model validation or model development within a bank or financial institution.
• Experience: 6–10 years in model validation or model development; experience in Capital Planning / Stress Testing, Treasury / ALM, Financial Crime / Compliance, Fraud, Credit Risk, Economic Capital, or related banking risk models; experience leading validation workstreams and/or mentoring junior team members.
• Skills: Strong quantitative foundation in statistics, econometrics, and financial risk modelling with hands-on exposure to regression, logistic regression, time-series modelling, forecasting, scenario analysis, simulation, and model performance assessment; proficiency in at least one programming language (e.g., Python, SAS, MATLAB, R); excellent verbal and written communication skills with experience interacting with senior stakeholders and regulators.
• Bonus: Familiarity with model risk management frameworks and regulatory requirements such as FRB SR 11‑7, OCC 2011‑12 (Model Risk Management), and Basel standards.