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Manager, Deterministic Quantitative Methods - Independent Review & Assurance

Standard Chartered -
Bengaluru, Karnataka

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Job details

Permanent

Benefits

Health insurance
Paid sick time

Qualifications

Microsoft Powerpoint
Statistics
Microsoft Excel
Microsoft Office
Databases
Analysis skills
Bachelor's degree
Confluence
Macros
SharePoint
Financial services
Microsoft Project
Cisco ASA

Full job description

Requisition Number: 45689

Job Location: Bangalore, IND

Global Grade: Band 7

Work Type: Office Working

Employment Type: Permanent

Posting Start Date: 29/05/2026

Posting End Date: 15/06/2026

Job Summary

Deterministic Quantitative Methods (DQM) Independent Review & Assurance (DQM IRA) is a newly established team within the Model Risk Policy & Governance (MRPG) unit, which is part of the broader Model Risk Management organization. This team is tasked with designing, implementing and operating strategies and processes to provide Second Line of Defence (2LoD) independent review and assurance for DQMs. The goal is to ensure that the DQMs are used appropriately and managed in compliance with the Group’s DQM Standards and the regulatory (i.e., PRA) expectations (Supervisory Statement SS 1/23). The team is also responsible for building a risk-based approach to help First Line of Defense (1LoD) stakeholders adopt the appropriate processes for managing the risks associated with the usage of DQMs within the Businesses / Functions.
In this role, you will be primarily responsible for the independent review of DQMs and their associated controls across our organization, with supplementary responsibilities to support and facilitate the design, implementation and embedding of DQM governance and oversight requirements.

Key Responsibilities

Processes

Manager, DQM IRA will be responsible for undertaking detailed independent reviews of DQMs to ensure they are fit for purpose and operating as expected:
Review the DQM risk assessment outcomes including the tiering and the associated rationale for the “Materiality” and “Complexity” ratings assigned.
Review control assessments for medium and high-risk DQMs, validate compliance evidence, and assess remediation plans for control gaps.
Collaborate with 1LoD DQM Owners to determine if any aspects of the Model Life Cycle should apply to high-risk DQMs and agree on next steps and timelines.
Verify the documentation and implementation process for high-risk DQMs, and its adherence to the control and risk managements requirements set out in the Standards.
Test high-risk DQM’s numerical implementations, assessing the inputs, reporting outputs, suitability for the use of its intended purpose, relevance and completeness of data.
Verify the validity and effectiveness of Alternative Control Processes (“ACP”) which either fully or partly address the DQM control and risk management requirements established in the Group DQM Standards.
Provide written validation reports detailing the results of the review including documentation of issues identified and reviewing the appropriateness of 1LoD remediation plans to resolve.
Facilitate the timely closure of DQM issues through active tracking of issue resolution progress, and detailed review of issue closure artefacts to ensure the underlying deficiencies are sufficiently addressed and required processes are embedded for ongoing effectiveness.
Determine the appropriate compensating controls to be put in place for observed issues with DQMs and establish necessary oversight on them.
Coordinate the approval activities for DQMs with the DQM Owner by contributing to the approval papers and rationalising the review outcomes in approval discussions.
Assist with the DQM change management processes by supporting the determination of a change classification as “major” or “minor”.

Strategy

Manager, DQM IRA will support the design and implementation of 2LoD activities established in the Group DQM Standards:
Contribute to the development of a framework for independent verification of the DQMs group wide (e.g., non-model calculators and non-model estimators), to ensure their appropriate use and that they are functioning as intended.
Help Policy Owner take account of regulatory change, internal and external audit feedback and perform thematic reviews where required to feed into revising the Group DQM Standards.
Communicate effectively with stakeholders at all levels of the organization to ensure alignment and understanding of phased implementation plan for DQMs.

Business

Manager, DQM IRA will support the integration of a risk-based approach and help the stakeholders adopt the appropriate processes for managing the risks associated with the usage of DQMs within the Businesses / Functions:
Provide guidance and oversight to the adoption of Group DQM Standards within the First Line Defence (1LoD) functions and monitor ongoing compliance.
Provide guidance and training related to DQM Lifecycle, to further educate the DQM Owners, Users and Process Owners in managing their DQM related risks within acceptable levels.
Assist in establishing specific risk management processes for DQMs in Credit, Traded, and Non-Financial Risk model families/areas by updating existing Model Family Standards or creating standalone DQM Addenda.

Risk Management

Manager, DQM IRA will be responsible for supporting the Management Team for Model Risk Management to effectively cascade the appropriate risk management efforts for DQMs:
Help with the embedding of the DQM related risks as an extension of existing Risk Taxonomy & Control Library for Model Risk.
Support the 1LoD in setting and managing their DQM related risks within acceptable levels through provision of independent oversight and challenge and ongoing monitoring of remediation plans.
Actively provide advice and challenge to the 1LoD for key existing and emerging DQM risks, the associated impact and outcomes of these risks, ensuring the use and adoption of the Group DQM Standards.
Contribute to relevant Transformation Programmes (e.g., Trading Book Winddown) within the Group by proactively engaging and assisting in the identification and mitigation of DQM risks.

Governance

Manager, DQM IRA will be responsible for supporting the governance activities to oversee the embedding of DQM risk management requirements
Support the DQM identification and inventory attestations processes where required, to ensure all tools that qualify as a “DQM” are identified, registered and risk assessed in the Model Risk Management System (MRMS).
Perform periodic sample-based reviews of DQM risk assessments to ensure suitability of the assigned ratings
Support the Model Governance team to conduct an extended Annual Status Assessment (“ASA”) process for DQMs to ensure the appropriateness of the DQM scoping and re-verify materiality / complexity criteria used to tier DQM for its continued relevance and suitability.
Collaborate with Risk Reporting or Portfolio Management teams to produce management information reports covering DQM risk profile for senior management decision-making.

Regulatory & Business Conduct

Display exemplary conduct and live by the Group’s Values and Code of Conduct.
Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders

Model Risk Management Team
1LoD DQM Role Holders (e.g., DQM Owners, Users and Process Owners)
1LoD Model Role Holders (Model Sponsor, Owner, Manager, Developer, etc.)
EUC Owners
Policy Owners, and Global process Owners
Country CRO, RFO, Governance Teams
Group Risk Reporting Teams
Internal Audit – Functions
Group OR, and other business COOs
Model Risk System Team
Technology Teams

Qualifications

Bachelor’s / University degree or equivalent educated, preferably with specialisation in Banking, Finance, Economics or IT Systems

Skills and Experience

6-8 years of working experience in financial services, preferably 2-3 years’ experience in 2LoD functions of any of the major risk types (Credit, Market, Counterparty Credit Risk, etc.)
Extensive experience reviewing and challenging tools such as End User Computing – EUCs, non-model calculators (NMCs) and non-model estimators (NMEs).
Hands-on experience conducting EUC control reviews preferred, with demonstrated ability to assess end-user developed applications for risks, compliance adherence, data quality, and control effectiveness
Experience overseeing spreadsheets, databases, macros, and other applications developed and used by business users, making sure they comply with internal controls and best practices.
Capable of understanding complex calculator type tools and demonstrated ability of reviewing and providing oversight and guidance for such tools
Exposure to developing deterministic quantitative tools (including End User Computing – EUCs) would be beneficial (e.g., IFRS9 ECL calculators, Finance projection tools, Treasury calculators)
Extensive experience of fulfilling activities such as EUC implementation testing, IT systems control testing, model assurance and control testing, etc.
Knowledge of general risk, compliance and governance concepts and methods such as policy management, risk assessments, control testing etc., ideally with a focus on Model Risk
Knowledge of Financial Markets products / asset classes such as derivatives (options, futures, etc.) and various measurement metrices like VaR, Expected Shortfall, Greeks, etc.
Knowledge of Credit products and various measurement metrices like expected credit loss (ECL), Probability of Default (PD), Loss Given Default (LGD), Exposure at Default (EAD), etc.

Knowledge of various Finance, Treasury, Liquidity and Balance Sheet measurement metrices covering growth projections, ratios, risk-weighted assets (RWA), etc.
High-level understanding of mathematical or statistical concepts used for deterministic calculations (e.g., arithmetic operations, algebra, descriptive statistics, etc.)
Understanding of Model Risk regulations such as SS1/23, SR11-7 and other country regulations.
Good analytical skills to filter, prioritize and validate potentially complex and dynamic material from multiple sources.
Experience with Microsoft Office applications including Microsoft Excel, Microsoft Project and PowerPoint and collaboration software such as SharePoint, Confluence, Social Intranets.
Ability to engage senior stakeholders effectively and maintain productive working relationships.
Experienced working as a self-directed contributor and be able to meet complex business objectives in a highly matrixed environment
Expert in presenting difficult concepts in a clear and concise way.
Ability to respond quickly in a fast-moving environment.
A great communicator (and you know how to handle challenging situations)
Team oriented, while able to complete tasks independently.

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
Flexible working options based around home and office locations, with flexible working patterns.
Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

Apply Now

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