Summary
Overview
Work History
Education
Skills
Certification
Languages
Education
References
Timeline
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Ajay Babar

Plano,TX

Summary

Dynamic leader and risk management expert with a proven track record at Bank OZK and other prestigious institutions. Specializes in quantitative modeling and strategic decision-making, leveraging skills in SAS and Python to drive regulatory compliance and innovative solutions. Known for fostering team collaboration and achieving significant advancements in financial risk governance.

Overview

13
13
years of professional experience
1
1
Certification

Work History

Adjunct Lecturer, Department of Economics

University of North Texas
Denton, USA
08.2024 - Current
  • Teach economics courses to undergraduate students: Collaborate with students, teaching assistants, and other stakeholders to identify and resolve issues, ensuring a supportive learning environment
  • Develop and deliver high-quality online course materials, including video lectures, discussions, and assessments
  • Foster a supportive and inclusive online learning community, providing timely feedback and guidance to students
  • Utilize digital tools and platforms to facilitate student engagement, collaboration, and learning outcomes

Founder and Principal

Pulse Trade
Plano, USA
05.2023 - Current
  • Lead a company specializing in risk management for banks, with the primary intent of integrating macroeconomic variables into financial models, based on my hands-on experience in dealing with macroeconomic variables and models, to help institutions navigate the complexities of an ever-evolving economic landscape
  • Oversee strategic initiatives and operations, driving growth and success in the financial services sector by applying macroeconomic insights and analysis
  • Conduct in-depth research on macroeconomic trends and forecast their impact on financial markets, ensuring data-driven decision-making and risk mitigation
  • Pursued certification programs in advanced macroeconomic modeling and financial risk management to stay at the forefront of industry advancements and enhance the firm's capabilities

SVP – Governance – Quantitative Modeling Group

Bank OZK
Dallas, USA
03.2022 - 04.2023
  • Spearheaded a team of five quantitatively trained individuals in managing the Quantitative Model Risk Governance function for the bank
  • Govern the entire life cycle of the bank's Wholesale and Retail models, including Model Development, Model R&D, Model Changes, Ongoing Model Monitoring, and Validation Support activities
  • Schedule and manage ongoing onsite exams conducted by the Regulators (FDIC) in collaboration with MRM
  • Successfully developed and enhanced the model risk governance framework and led the Quantitative Model Risk Governance Team, effectively managing a banking book valued at approximately $28 billion through the utilization of a model inventory comprising 38 quantitative models
  • Established strong collaborations with the Bank's Model Risk Management (MRM) and Enterprise Risk Management (ERM) functions, facilitating efficient coordination and communication to ensure aligned risk management practices
  • Effectively presented Model Risk Issues at quarterly Model Risk Governance Committee (MRGC) meetings, contributing to improved risk management practices and fostering informed decision-making
  • Published quarterly Key Performance Indicators (KPI) and Key Risk Indicators (KRI), providing valuable insights for strategic decision-making, and enhancing overall performance monitoring and risk assessment capabilities
  • Proactively remediated various issues raised by Internal Audit, ensuring compliance with regulatory requirements, and implementing effective risk mitigation measures
  • Conducted thorough reviews of controls for five model-related processes using the Risk Control Self-Assessment (RCSA) process, identifying areas for improvement, and implementing necessary changes to enhance risk management effectiveness
  • Successfully implemented Corrective Action (CAP) Plans to address findings identified by Model Risk Management (MRM), strengthening risk mitigation strategies, and ensuring continuous improvement in model-related practices
  • Managed the development of six stress test models, producing forecasts for various dependent variables used by various downstream groups without using LIBOR as the independent variable

VP Economic Scenario Group (ESG)

Citigroup
Irving, USA
05.2018 - 03.2022
  • Reported directly to the Managing Director of ESG and headed a 15-member transition project team, driving the redevelopment and global adoption of future rate curves for all tenors of Secured Overnight Financing Rate (SOFR) and other Risk-Free Rates (RFR's) across Citi's businesses worldwide
  • Successfully oversaw the Model Governance of ESG's 25 forecasting models, guaranteeing accuracy, compliance, and reliability of these models in support of Citi's critical downstream models used for CCAR, CECL, ICAAP, and IRFS9 estimation
  • Utilized a robust Commercial Data Repository (CDR) housing 5000+ independent variables to enhance the precision and effectiveness of the forecasting models
  • Played a pivotal role in ensuring the seamless integration of ESG's models as essential inputs into Citi's risk management frameworks, contributing to enhanced decision-making processes and regulatory compliance
  • Facilitated seamless collaboration between ESG and the Quantitative Model Risk Management team, resulting in the timely completion of Model Finding Remediation documents to address identified issues and enhance model performance
  • Developed and implemented Value at Risk (VaR) models to measure and monitor counterparty credit risk (CCR) across various financial products
  • Used time series estimation techniques to stress test various wholesale models, ensuring robustness under different economic scenarios

Sr. Risk Specialist

Federal Reserve Bank of Dallas
Dallas, USA
05.2012 - 01.2018
  • Executed numerous regulatory deliverables such as Capital Planning Assessment, Individual Bank and Horizontal Model Risk Management Examinations as a Regulator supervising different Bank Holding Companies (BHC)
  • Led the annual Capital Submission Process for Large Banks as the Examiner-in-Charge (EIC), managing the comprehensive three-month CCAR (Capital Planning Assessment) exercise involving 15 regulators pulled from 12 Regional Federal Reserve Banks
  • Conducted rigorous examinations of risk management processes, assessing the quality of forecasting techniques for Credit, Market, and Operational losses
  • Analyzed Pre-provision Net Revenue (PPNR) forecasts, FR Y-14A submission balance sheet and income sheet tabs and evaluated Capital Accumulation and Risk Mitigation Policies and Procedures
  • Collaborated with regulators from FRB, OCC, and FDIC in horizontal vetting sessions to establish new MRAs (Matters Requiring Attention) or MRIAs (Matters Requiring Immediate Attention)
  • Reviewed and assessed bank responses, ensuring the closure of existing MRAs and MRIAs

Education

Master of Science - Econometrics And Quantitative Economics

University of North Texas
Denton, TX
04-1995

Bachelor of Arts - Economics

University of North Texas
Denton, TX
12-1993

Bachelor of Science - Mathematics

University of Delhi
New Delhi, India
05-1991

Ph.D. - Financial Economics

EDHEC Risk Institute
Nice, France

Skills

  • Risk Management Expertise: Extensive experience in model risk governance, stress testing, and compliance with regulatory requirements Proven ability to lead risk management initiatives for banks and financial institutions
  • Quantitative Modeling: Proficiency in developing, validating, and managing sophisticated financial models, including VaR models, stress test models, and macroeconomic forecasting tools
  • Strategic Decision-Making: Skilled in leveraging data-driven insights and advanced analytical techniques to guide organizational strategy and enhance resilience
  • Regulatory Compliance: Deep knowledge of regulatory frameworks (eg, CCAR, CECL, and ICAAP) and experience in ensuring adherence to laws and regulatory standards
  • Academic and Corporate Training: Ability to teach complex economic concepts and integrate them into practical applications, as seen in your academic contributions and textbook authorship
  • Leadership and Team Management: Proven success in managing cross-functional teams and fostering collaboration among stakeholders in high-pressure environments
  • AI and Data-Driven Analysis: Experience leveraging AI tools to generate insights and create innovative solutions in financial modeling and academic projects
  • Technical Proficiency: Expertise in tools like SAS, Python, KNIME, and Power BI for data analysis, visualization, and model development

Certification

Post Graduate Program in Artificial Intelligence for Leaders.

· UT Austin, Austin, TX.

Certificate in Quantitative Finance (CQF)

Expected Completion: July 2025

PL – 300 Microsoft Data Analyst Certification Training Program

Expected Completion: May 2025

· Successfully completed the curriculum, covering topics such as data modeling, data visualization, and data analysis using Microsoft Power BI.

Languages

3,3

Education

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References

References available upon request.

Timeline

Adjunct Lecturer, Department of Economics

University of North Texas
08.2024 - Current

Founder and Principal

Pulse Trade
05.2023 - Current

SVP – Governance – Quantitative Modeling Group

Bank OZK
03.2022 - 04.2023

VP Economic Scenario Group (ESG)

Citigroup
05.2018 - 03.2022

Sr. Risk Specialist

Federal Reserve Bank of Dallas
05.2012 - 01.2018

Master of Science - Econometrics And Quantitative Economics

University of North Texas

Bachelor of Arts - Economics

University of North Texas

Bachelor of Science - Mathematics

University of Delhi

Ph.D. - Financial Economics

EDHEC Risk Institute

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