Internal Audit Manager, Model Risk

1 month ago

Stockholm, Stockholm, Sweden Nordea Bank Full time

Job ID: 21135

#GIA #modelrisk #modelvalidation #internalaudit

Would you like to learn and grow as you build your career with us? We are now looking for a new colleague, who will join the GIA Model Risk team as an Internal Audit Manager.

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 the GIA Model Risk team. We add value by supporting the Nordea Group Board and Group Executive Management in protecting the assets, reputation and sustainability of the largest bank in the Nordics. The Model Risk team within GIA is responsible for providing audit assurance over controls covering end-to-end model lifecycle, including model governance, model development, implementation, monitoring and independent model validation.

As the Internal Audit Manager, you'll play a valuable role in auditing key models, with a specific focus but not limited to IRB models, and evaluating whether Nordea is adhering to key European regulations. In addition, you will need to possess good stakeholder management skills, be a team player and enjoy working in a hectic environment with passionate colleagues.

What you'll be doing:

Contributing to the execution of Group Internal Audit's strategy. Performing audits and issue validation assessing Nordea's models, model governance, model risk management and model validation. Contributing to the delivery of GIA's project portfolio either as an audit lead or as a team member. Contributing to continuous risk assessments to direct assurance activities towards the significant risk areas.


You'll join the Group Internal Audit. The role can be based in our offices in Stockholm, Helsinki, Warsaw, Łódź or Gdynia.

Group Internal Audit prioritizes use of technology to facilitate efficient, flexible working. This means that although you will work with colleagues around Nordics and Poland, travel is kept at family and environmentally friendly levels.

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 have:

A strong understanding of relevant regulatory environment, including model risk management best practices,processes and methodology followed for estimation, calibration and validation of PDs (Probability of Default) along with LGDs (Loss Given Default), EADs (Exposure At Default). A strong collaborative skills and strong written and verbal communication skills, ability to communicate effectively with senior professionals and manage stakeholders at multiple levels of seniority. High ethical standards with demonstrated integrity, tact, and diplomacy.

Your experience and background:

Excellent knowledge and understanding of model development or model validation techniques covering IRB models Experience in coding (Python or SAS). University degree in a quantitative subject such as Math, Physics, Economics or Finance would be a strong advantage. Fluency in English. The ideal candidate has at least five, preferably more years of relevant work experience in model development, validation or audit.

If this sounds like you, get in touch

Next steps

Submit your application no later than 12/05/2024. For more information, you're welcome to contact Stefka Dabijeva.

At Nordea, we know that an inclusive workplace is a sustainable workplace. We deeply believe that our diverse backgrounds, experiences, characteristics and traits make us better at serving customers and communities. So please come as you are.

Please be aware that any applications or CVs coming through email or direct messages will not be accepted or considered.

Only for candidates in Sweden: For union information, please contact or

Only for candidates in Finland: A security clearance will be performed for the person selected for this position.

Only for candidates in Poland: Please include permit for processing personal data in CV as following:

In accordance with art a and b. Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) hereinafter 'GDPR'. I agree to have: my personal data, education and employment history proceeded for the purposes of current and future recruitment processes in Nordea Bank Abp.

The administrator of your personal data is: Nordea Bank Abp operating in Poland through its Branch, address: Aleja Edwarda Rydza Śmiglego 20, Łodź. Your personal data will be processed for the recruitment processes in Nordea Bank Abp. You have a right to access your personal data, right to rectify and right to delete. Disclosing the personal data in the scope specified by the provisions of Polish Labour Code from 26 June 1974 and executive acts are mandatory. Providing personal data is necessary to conduct the recruitment processes. The request for the deletion of your personal data means resignation from further participation in recruitment processes and causes the immediate removal of your application. Detailed information concerning processing of your personal data can be found at:

We reserve the right to reply only to selected applications.

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