The future of financial engineering: Akhil Khunger’s influence on model implementation and time series analysis

Photo courtesy of Akhil Khunger

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Akhil Khunger, a distinguished quantitative modeling expert, has carved a niche in the financial sector through his integration of innovation with efficiency in financial modeling. With a robust career spanning significant roles at institutions such as Barclays, Citibank, and the Hong Kong and Shanghai Banking Corporation (HSBC), Khunger has profoundly impacted the domain of model implementation and time series analysis.

Accumulating over a decade of experience, Khunger has significantly contributed to refining the precision and efficiency of financial engineering processes.

Enhancing stress testing through automation

“The manual process was prone to mistakes due to numerous interlinked pieces and operational errors,” Khunger explains. “It could take up to two weeks to complete the entire production run.”

A pivotal advancement in Khunger’s career is his development of ‘Modelytics’ at HSBC. This comprehensive model implementation system was conceived to mitigate the inefficiencies inherent in the manual execution of numerous financial models during quarterly stress testing. Khunger identified the manual method as susceptible to errors and excessively time-intensive. By automating the process, ‘Modelytics’ seamlessly integrates model data, execution, outputs, and governance, effectively condensing the production timeline from two weeks to a single day. This enhancement was achieved through the implementation of a SQL database, dynamic coding, and a user-friendly Graphical User Interface (GUI).

Refining time series analysis for enhanced forecasting

Khunger’s expertise in time series analysis has been crucial in his ability to construct sophisticated models that forecast financial metrics, such as balance sheets and revenue projections, as well as estimating default probabilities. Serving as Vice President of Quantitative Analytics at Barclays, Khunger has employed his knowledge to refine financial models using advanced methodologies, including linear regression and machine learning.

His recent efforts include upgrading Barclays’ production code to Python 3.10 and integrating an automated data feed with SQL to bolster the system’s efficiency and scalability.

Promoting innovation through leadership and mentorship

Khunger’s contributions extend beyond his technical acumen to encompass leadership and mentorship. He leads teams in both the U.S. and India, navigating through the intricacies of financial modeling and nurturing an atmosphere of innovation and cooperation.

Furthermore, at HSBC, Khunger spearheaded the creation of novel revenue models for the bank’s various sectors, achieving notable enhancements in revenue and capital efficiency.

Khunger is an advocate for the strategic application of technology and collaborative efforts to elevate the operational standards and accuracy of the financial industry. His initiatives have consistently resulted in advancements that serve the interests of all stakeholders.

As the intersection of finance and technology grows ever more critical, Khunger’s career exemplifies how dedicated professionalism and innovative thought can substantially advance the industry. His journey is marked by distinguished accolades, including the 2024 Global Recognition Award, which acknowledges his substantial contributions to the financial sector.

Through his sustained influence, Khunger remains a pivotal figure in shaping the trajectory of financial engineering, characterized by his commitment to technological integration, meticulous analytical methods, and an unwavering pursuit of excellence.