Monojit Mitra
About Monojit Mitra
Monojit Mitra serves as the Managing Director and Head of Model Risk Management and Control at UBS in the Greater New York City Area. He has extensive experience in model risk management, having previously held senior roles at Deutsche Bank, HSBC, and Barclays Capital.
Work at UBS
Monojit Mitra serves as the Managing Director and Head of Model Risk Management and Control at UBS in the Greater New York City Area. He has held this position since 2017. In his role, he has implemented significant initiatives, including the creation of a new Model Risk Appetite Framework (MRAF) that aligns with the bank's operational risk framework. He also established a comprehensive Governance of Models Framework compliant with SR11-7, which includes policies and guidelines for model risk rating and validation. Additionally, he developed a quarterly model risk reporting cadence to provide insights into specific models and potential future issues.
Previous Experience at Barclays Capital
Monojit Mitra worked as a Summer Associate in Energy Commodities Research at Barclays Capital for 11 months in 2005. This role was based in New York and provided him with foundational experience in the financial services sector, particularly in the area of energy commodities.
Previous Experience at Deutsche Bank
Mitra held multiple roles at Deutsche Bank. From 2014 to 2017, he served as Director and Head of Balance Sheet & PPNR Model Development, and Scenario Design within the Enterprise Risk Management (ERM) division. Prior to this, he was Vice President in the Special Situations Group focusing on Securitized Products from 2005 to 2008. His tenure at Deutsche Bank contributed to his expertise in model development and risk management.
Education and Expertise
Monojit Mitra earned his MBA in Finance and Economics from Columbia Business School, where he studied from 2003 to 2005. He also holds a B.Tech in Civil Engineering from the Indian Institute of Technology, Kharagpur, which he completed from 1996 to 2000. His educational background has equipped him with a strong foundation in analytical and quantitative skills relevant to his roles in financial services.
Career Development and Achievements
Throughout his career, Monojit Mitra has achieved notable milestones in model risk management. At UBS, he built a 50-member quantitative team across New York and Krakow, achieving a 30% budget reduction in less than two years. He also transitioned the model inventory management system to an automated SaaS-based workflow, enhancing operational efficiency. His contributions reflect a strong focus on governance, risk assessment, and team development in financial services.