Model Risk Mgmt Governance Sr. Lead Analyst

Model Risk Mgmt Governance Sr. Lead Analyst

Location:

Chennai, Tamil Nadu, India | Job Type: On-Site/Resident

Overview

This is a senior individual contributor role within the first-line-of-defense (1

LoD) that leads operational governance of the business line's models in alignment with the enterprise-wide Model Risk Management (MRM) Policy. The role owns end-to-end governance activities across the model lifecycle and serves as a subject matter expert and primary day-to-day liaison with Model Sponsors, Model Developers, and the second-line-of-defense (IRM) organization.

Responsibilities

• Framework Execution & Advisory:
  Execute and monitor the business line s adherence to the Citi MRM Policy, Standard, and Execution Manual. Identify gaps and recommend corrective actions.
• Serve as a subject matter expert and day-to-day point of contact for Model Sponsors on policy interpretation and governance requirements.
• Represent the business line in working-level meetings with the central MRM organization and support preparation for Internal Audit and regulatory engagements.
• Prepare materials, briefings, and updates for Segment Model Risk Councils on behalf of the Head of MRM Governance.

• Model Lifecycle Governance:
  • Model Identification:
    Lead the ongoing process to identify quantitative methods, systems, and approaches that may qualify as models; assess scope and coordinate submissions to MRM for determination.
  • Development & Documentation:
    Partner with Model Sponsors to ensure Model Development Documents (MDDs) are complete, accurate, and of high quality prior to submission for validation.
  • Review documentation for conceptual soundness, data usage, and performance substantiation; provide detailed feedback to model owners.
  • Coordinate governance requirements for vendor models, ensuring equivalent standards are applied.

• Validation & Remediation:
  • Manage end-to-end coordination of model validation activities, including initial validations, annual reviews, and ongoing validations.
  • Track and drive timely remediation of model limitations and validation findings; develop action plans and monitor progress against due dates.
  • Escalate at-risk remediations to the Head of MRM Governance with recommendations for resolution.

• Implementation & Use:
  • Review model implementation evidence to confirm deployment in approved production environments and that implementation testing is completed.
  • Monitor model usage to ensure alignment with approved purposes; document and escalate any model overlays for justification and approval.

• Ongoing Monitoring:
  • Coordinate the ongoing performance monitoring (OPA) schedule for the model portfolio, ensuring Model Sponsors adhere to required frequencies.
  • Analyze monitoring results to identify performance trends or degradation signals, and recommend or escalate actions as appropriate.

• Model Change & Retirement:
  • Manage the governance process for model methodology, implementation, or usage changes, ensuring documentation and MRM approval are obtained prior to implementation.
  • Facilitate the formal retirement process for decommissioned models, ensuring all records are updated accordingly.

Inventory, Attestation & Reporting

• Maintain and validate the completeness and accuracy of the business line s model inventory within the Citi Risk Model Risk Management System (MRMS).
• Lead the execution of the semi-annual model inventory attestation process, coordinating with Model Sponsors and compiling outputs for senior review.
• Manage the end-to-end process for Policy Dispensation requests and ensure Policy Breaches are identified, documented, escalated, and remediated in a timely manner.
• Produce management reporting on the health of the model portfolio, including key risk indicators, finding aging, and monitoring status.

• Stakeholder Engagement & Mentorship:
  • Act as a mentor and technical resource to junior professionals, reviewing their work and providing guidance on complex matters.
  • Foster a culture of model risk awareness and accountability across model-owning teams.

Qualifications

• 12+ years of experience with at least 7–10 years in risk management, quantitative analysis, model risk governance, or a related field within a large, complex financial services firm.
• Strong working knowledge of model risk management principles, regulatory guidance, and the full model lifecycle.
• Experience coordinating complex governance processes and managing multiple work streams concurrently.
• Proven ability to engage and influence stakeholders at various levels, including Model Sponsors and business managers.
• Strong analytical and problem-solving skills, with the ability to assess model documentation and identify substantive gaps or risks.
• Excellent written and verbal communication skills, with experience producing high-quality management reports and presentations.

Working Environment: office setting, minimal travel required. Effort: minimal physical effort required.

Equal Opportunity Statement:
Citi is an equal opportunity employer, and qualified candidates will receive consideration without…