Model Risk Specialist - Model Risk Chapter

Model Risk Oversight tribe (MRO) is an energetic, international, and diverse team of highly qualified Model Risk Managers in Amsterdam and Warsaw. MRO is responsible for the design and implementation of ING’s global Model Risk Management (MoRM) framework and tooling across all models used within ING Bank worldwide. The tribe aims to proactively manage model risks by guiding global and local communities in the execution of the model lifecycle activities, performing effective and efficient 2nd Line of Defence (LoD) challenge and oversight across ING’s model landscape, monitoring and reporting on model risks.

Following model risk regulations’ evolution, market practices and years of experience from of ING’s MoRM Framework implementation, MRO is currently reshaping the vision of its framework with the objective to go to the next level of maturity, focusing on increasing the collaboration with the 1st LoD as a pro-active and independent strategic partner. It is a great momentum for joining this team and to contribute to the transition to the next maturity level!

The team

• MRO is part of the Model Risk Management Function, and the tribe is composed by 3 main focus areas: Framework and Governance (F&G), Model Risk (MR), and model risk reporting. MR Chapter focuses on performing proactive model risk management activities supporting model stakeholders to manage model risk, leveraging the MoRM Framework and model risks reporting capabilities.

• MR Chapter is structured by model domain to allow for developing specific knowledge and expertise to be able to manage the relevant stakeholders. Model stakeholders range from ING Head Office and local business units, and across 1st and 2nd LOD model stakeholders.

• The environment that we work in can be described as dynamic, professional, and exciting given the fast-changing requirements and new technologies.

• We work in a spirit of trust, a sense of purpose, cooperation, and open communication. Continuous learning, adding value to our stakeholders and building on differences are important.

• Within MoRM we strongly advocate and adhere to the ING values and it is evident for you that your behaviour is fully aligned with these values;

• Your main base is Amsterdam, however you are prepared to travel occasionally.

Roles and responsibilities

• Lead the rollout of ING’s MoRM Framework on the model domain of focus and under your oversight, with the opportunity to learn about other portfolios as a way to grow knowledge and experience on portfolio management.

• As a model risk manager, challenge model stakeholders about the sources of model risk and how to mitigate and manage them, including facilitating and challenging the model risk assessment of the models.

• Establish a relationship with model stakeholders and challenge and advise them throughout the model life cycle, overseeing on the execution of controls  

• Conduct model risk monitoring and report to the senior management in case of gaps

• Bring expert knowledge on your portfolio of models mainly by providing a model portfolio perspective, to support model strategy discussions and representing the department in the relevant model committees

• Support model risk community in terms of MoRM Framework cascading, model inventory maintenance and/or adherence to relevant MoRM policies and procedures.

• Follow current and new regulatory requirements and best practices in model risk management

• Contribute to the organization’s efforts in responding and reporting to regulatory bodies

How to succeed

Our biggest expectation is that you’ll stay curious. Keep learning. Take on responsibility. In return, we’ll back you to further develop and shape your career.

You:

• Have an academic degree (MSc) in Finance, Econometrics, Mathematics, Physics, Economics or another quantitative/numerical field.

• Have strong analytical and problem-solving skills.

• Have strong stakeholder management skills, including experience managing communication and influencing senior stakeholders.

• Are a good listener and interviewer, receptive to the feedback from the stakeholders.

• Are persuasive and able to explain policy requirements and their applications in a simple language to senior stakeholders.

• Have at least 3-8 years of experience working in the financial industry in model related topics, either on a specific model domain within financial and non-financial risk management or, experience in general model risk management topics.

• Have good understanding of the regulatory requirements of the bank, EBA guidelines, and MoRM framework principles and regulations (SR 11-7, PRA, etc.) is a plus.

• Excellent English verbal and writing skills

Rewards and benefits

We want to make sure that it’s possible for you to strike the right balance between your career and your private life. You can find out more about our employment conditions at http://www.ing.jobs/netherlands/Why-ING/benefits.htm. The benefits of working with us at ING include:

• A salary tailored to your qualities and experience

• 24-27 vacation days depending on contract

• Pension scheme

• 13th month salary

• Individual Savings Contribution (BIS), 3.5% of your gross annual salary

• 8% Holiday payment

• Hybrid working to blend home working for focus and office working for collaboration and co-creation

• Personal growth and challenging work with endless possibilities

About us

With 60,000 employees and operations in approximately 40 countries, there is no shortage of opportunities for people with initiative who want to help people take a step ahead in life and in business. Do you want to work at the cutting edge of what’s possible and at the same time ensure you work with integrity and hold the customer’s interests at heart? Do you want to be surrounded by progressive, inspiring, diverse and supportive colleagues? Then there is no better place to invest your talents than at ING. Join us. Apply today.

Questions?

Contact the recruiter attached to the advertisement for more information. Want to apply directly? Please upload your CV and motivation letter by clicking the “Apply” button