Model Validation is looking for an enthusiastic, curious Medior Model Validator who likes to develop him / herself in the ICLAAP validation chapter
ING’s global Model Validation ICLAAP ( Internal Capital & Liquidity Adequacy Assessment Process ) chapter is an energetic, diverse and collaborative international team consisting of about 15 highly qualified professionals of various quantitative backgrounds, located in Amsterdam.
Following ING’s Think Forward Strategy to become the next generation digital bank, data and models are considered key assets in our bank.
As model validators we safeguard the quality of ING’s models, which are used for all kinds of decision making purposes. We also contribute to the Model Risk Management (r)evolution that is picking up worldwide, given that models are imperfect representations of reality and hence may lead to financial losses and / or reputational damage.
To effectively achieve these challenges, our Model Validation teams have been substantially growing in size lately and will further grow, also internationally.
We are responsible for validating ICAAP and ILAAP models used by ING in about 40 countries all over the globe. We cover an interesting, wide and evolving model scope across several main risk areas, e.
g. IRRBB ( Interest Rate Risk in the Banking Book ) / ALM ( Asset & Liability Management ), Liquidity Risk, Operational Risk and Business Risk.
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.
The role of model validator
As a model validator you focus on and further learn about the topics related to the models in your scope, using econometrics, quantitative finance, coding, business knowledge and related regulations.
You perform in-depth analyses and write code to perform quantitative assessments. You summarize your analyses and conclusions in clear, fact-based and persuasively written reports, which are presented to the relevant Model Approval Committee.
You share your knowledge and effectively communicate with team members and a wide range of internal and external stakeholders.
You also have the opportunity to participate in the development of innovative, state-of the-art validation frameworks and coding libraries.
Your main daily activities consist of the following :
These reports include a description of the methodology, your model risk assessment of the various model validation dimensions, as well as a number of findings for model improvement (which require follow-up by the developers).
Your prospective model scope is broad and includes the following main, diverse risk areas :
Stress Testing Frameworks / models.
As part of the ICLAAP 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.
Who are we looking for
We are looking for enthusiastic colleagues who enjoy performing quantitative analyses, writing & defending high quality validation reports, and have an intrinsic curiosity to continuously expand their knowledge.
In particular, as a member of our team, you have :
with a minimum of 4-5 years of relevant experience.
IRRBB / ALM, Liquidity Risk, Operational Risk and Business Risk).
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.
Moreover, you will contribute to further implementing ING’s innovative Think Forward strategy.
Your work environment
e. chapters , each focusing on a main risk area(s)) and Model Risk Oversight, located both in Amsterdam and Poland.
To ensure its independence and effective challenge, Model Risk Management reports directly to the CRO.
Continuous learning, adding value to our stakeholders and building on differences are important. We empower our people to take responsibility and promote continuous improvements, innovation and automation.
What we offer
At ING we offer you a 40 (or 36) hour contract. We care about an adequate work life balance and we empower our colleagues to realize their ambitions : Do your thing.
Our employment conditions are specified here. In particular, we offer :