Senior Manager - Managerial Model Validation

Organization: At CommBank, we never lose sight of the role we play in other people’s financial wellbeing. Our focus is to help people and businesses move forward to progress. To make the right financial decisions and achieve their dreams, targets, and aspirations. Regardless of where you work within our organisation, your initiative, talent, ideas, and energy all contribute to the impact that we can make with our work. Together we can achieve great things.

Job Title: Senior Manager - Managerial Model Validation
Location: Bengaluru - Manyata Tech Park

Business & Team: Risk Management is responsible for developing and deploying the risk frameworks to allow the Group to take conscious exposures to credit, market, operational, compliance and insurance risks within a Board-approved appetite.

Risk Management ensures that the Group has appropriate strategies and frameworks in place to assess, manage and report on credit, market, operational, compliance and insurance risks. We do this by:

• Establishing frameworks to manage risks that are consistent with the Group’s business objectives.
• Identifying, assessing and reporting risks to the Board, Risk and Audit Committees, Executive Committee and Business Units.
• Assessing the impact of proposed changes in laws, regulations and industry codes; and
• Working collaboratively with the Business Units to achieve the optimal risk and return outcomes for the Group within the risk appetite approved by the Board.

Model Risk & Validation is comprised of 4 teams looking after the Model Risk Management; Credit Risk Models Validation; Market Risk Models Validation and Managerial Models Validation.

Managerial Models Validation is made up of a skilled quantitative team with roughly 8 onshore and 6 offshore team members.

Impact & Contribution: Model Risk & Validation provides assurance and oversight of models across the group. The team leads and conducts validation of the Group’s models, based on internal policy and procedures, regulatory guidance, and the industry’s best practices. It provides line 2 assurance and challenge for all models within the CBA group. The team also influences the technology, data and validation strategies through active engagement with BU’s and executive level stakeholders across the group.

Roles & Responsibility: You will be part of a skilled quantitative team serving all business units across the CBA Group. Reporting to the Chapter Lead, Managerial Model Validation, Model Risk & Validation, your key responsibilities include:

Leading validations for medium and high rated general models:

• Formulating validation plans around how to assess and review a given model to ensure it is fit-for-purpose.
• Allocation of validation tasks and escalation of blockers in a timely manner.
• Providing guidance to team members and instilling best practices.

Supporting chapter leads with developing minimum standards and best practices around model risk and validation procedures.

Supporting a strategic transformation agenda:

• Promoting and championing modern analytics tooling such as technical report writing use Quarto or R-Markdown.
• Drive the operationalization of AI risk oversight.

Presenting to internal working groups, technical forums, governance committees and/or regulatory meetings.
Maintaining productive relationships with model development teams, model owners, business unit teams and other stakeholders.

Essential Skills:

• 10+ years of experience in building and/or validating models (inc. AI and Gen-AI) in financial services; ability to pick up new concepts and modelling techniques quickly is essential
• Led in technical projects such as model developments and/or validations
• Excellent written and verbal communication skills, with stakeholder management experience
• Tertiary qualifications, in a quantitative discipline such as statistics, data science, computer science, actuarial science, or software development
• Experience in developing/validating AI/ML models and tools using LLMs, Random Forests, Gradient Boosted Machines, Deep Neural Networks, etc.
• Advanced knowledge of modern analytical tools including R, Python or TypeScript. Knowledge in other programming languages such as SQL, C++, VBA, etc. is also desirable.

Education Qualification: Bachelor’s degree/Master’s degree/Ph.D. in Data Science, Machine Learning, Computer Science, Computational Linguistics, Statistics, Mathematics, Physics

If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you'll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.

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