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What is currently salary trend in Risk management domain ( model development/ validation) in banks or big 4 or consulting firm in india . . Please mention your YOE and salary ( fixed + bonus) Citi Accenture Tata Consultancy Deloitte EY PwC KPMG Deutsche Bank Credit Suisse Morgan Stanley JPMorgan Chase UBS ANZ Wells Fargo HSBC
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Other things would include
1. model validation wherein you will access the validity of model by looking at the underlying data quality, modelling techniques, output testing etc. and ask questions to model dev team around the same.
Once you validate the model, it is now put into use.
2. Model monitoring team would now pick up the model and run it every quarter and check if everything is running smoothly, results are as expected using stat test like gini ks etc
3. Model Audit team is generally an extension of model validation which also test the suitability of the model by looking at audit parameters and if it complies with regulation and guidelines
So all in all validation and audit of a model is done once every year and monitoring is done quarterly