We are looking for an energetic, naturally collaborative, and hands-on Model Validator to support the Chapter Lead IRRBB & ICLAAP within Model Validation Financial Risk.
The teamING’s global Model Validation IRRBB & ICLAAP chapter is an energetic, diverse and collaborative international team consisting of about 15 highly qualified professionals of various quantitative backgrounds, located in Amsterdam.
As model validators we safeguard the quality of ING’s models, which are used for all kinds of decision-making purposes.
We are responsible for validating IRRBB & ICLAAP models used by ING in about 40 countries all over the globe. We cover an interesting, wide and evolving model scope aimed to measure the impact of interest rate risk on expected earnings and economic value as well as various ALM models used in balance sheet management. These models vary from those having a technically advanced quantitative orientation to those displaying strong expert judgment (in case of e.g. limited data availability). Our core business consists of independently assessing whether a particular model is fit for the purpose it was designed for, based on the business context, academic theories, empirical evidence, regulations, best practices & technological innovations. Effective challenge is key in our role. Herewith we contribute to sound business practices, supporting a healthy, sustainable ING and global financial stability.
Specific FunctionModel Risk Management (MoRM) in a nutshell; Models are an imperfect reflection of reality. Models impact our business and we use models for decision making throughout ING. We need to manage uncertainties and shortcomings in our models, as there are risks involved. Are we sure that the output leads to the right decision? Models are a great asset but come with a risk that needs to be managed. The purpose of the Model Risk Management department is to ensure the models can add business value safely. That's why we've created a cross-domain Model Risk Management Framework helping us identifying, classifying, recording and validating models we use across ING. For example, Credit, Market, KYC, Operational and Pricing models. Together with our stakeholders in e.g. Model Development and COO Risk we try to obtain the best models for ING.
Roles And Responsibilities
How To SucceedIn particular, as a member of our team, you have:
Specific Knowledge And ExperienceYour prospective model scope is broad and are related to the following main areas:
As part of the chapter, you will contribute to further building and developing the team by sharing knowledge, coaching more junior staff and by embracing ING’s Agile way of working.
Above all, you have a genuine passion to continuously improve yourself and our team. As a model validator at ING, you will be empowered to have a true impact on ING’s future model landscape.
Rewards And BenefitsWe want to make sure that it’s possible for you to strike the right balance between your career and your private life. Find out more about our employment conditions.
The Benefits Of Working With Us At ING Include
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