Senior/Lead Model Risk Analyst
4 weeks ago
Job ID: 18768
Would you like to be part of a team with experienced and talented colleagues and apply cutting-edge techniques to support establish an active management of model risk through rigorous validation activities? We are looking for a Senior Model Risk Analyst to strengthen our validation processes for Nordea's models that are used for Asset and Liability Management (ALM), Life and pension, and operational risk.
At Nordea, we’re committed to being a partner our customers and society can count on. Compliance and integrity go hand in hand.
Joining us means you’ll have an impact on how we do banking – today and tomorrow. So bring your ideas, skills and unique background.
With us, you’ll be in good company with plenty of opportunities to collaborate, grow and make your mark on something bigger.
About this opportunity
Welcome to Model Risk and Validation. We add value by conducting independent model validation activities intended to verify the soundness of Nordea’s models used for operational risk, Life and pension modelling, and ALM, e.g., Interest Rate Risk in the Banking Book (IRRBB) and liquidity risk. As Senior Model Risk Analyst you will play a key role in ensuring that models are conceptually sound, mathematically correct, and appropriate for intended business use.
What you’ll be doing:
Help ensure robust management of Nordea's model risk
Validate risk models – including models for non-traded market risk, liquidity risk, operational risk, behavioural models for IRRBB, and life and pension models
Ensure that models and model validation activities meet regulatory requirements and sophistication expectations
Drive and participate in the validation of new and changed models
Use your technical skills to apply and develop validation techniques to verify that models function well and reflect economic and business realities
Collaborate with and challenge model owners as well as developers on design and implementation of models
Work with highly engaged colleagues in Nordea Group Model Risk Management
Collaborate with colleagues across the Nordea Group in reporting validation outcomes to senior management
You’ll join a team of experienced model risk experts, all with a strong mathematical background. The team is highly specialised and work in close collaboration with specialists across the Group. The role is based in Helsinki; Copenhagen; Stockholm.
Who you are
Collaboration. Ownership. Passion. Courage. These are the values that guide us in being at our best – and that we imagine you share with us.
To succeed in this role, we believe that you:
Engage in a productive collaboration with model stakeholders
Are a team player and also master working independently
Are self-driven with ambition to deliver timely and high quality analysis
Have an eye for detail, yet able to focus on the big picture
Are innovative and thrive on challenging multidisciplinary tasks
Have excellent skills in oral and written communication as well as in scientific writing
Your experience and background:
Academic degree – preferably at PhD level or equivalent – in a quantitative field, such as finance, economics, mathematics, statistics, physics or similar from a high quality academic institution
Full proficiency in applying econometric, mathematical and statistical models and techniques
8+ year experience in the financial sector working with risk models as developer, user or validator
Knowledge of asset and liability management, with special focus on IRRBB and liquidity risk is an advantage, however specific expertise is not a requirement
Knowledge of behavioral finance is an advantage, however specific expertise is not a requirement
Life insurance and pension knowledge is advantage, however specific expertise is not required
Strong analytical skills, and capable of applying multidisciplinary quantitative methods
Solid experience in programming Python, MATLAB and SQL, but experience in other programming languages is also valuable
If this sounds like you, get in touch
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