Models Audit Supervisor / Audit Manager
Employee | Audit | Professional | Netherlands | North Holland | 2020-09-02 | REQ-10029107
Adequate internal model development, independent model validation and effective monitoring are integral components of model risk management in today’s highly regulated financial environment. Within ING we share a strong sense of responsibility for improving the effectiveness of processes that control the risks we are facing as a financial institution. Ultimately, this protects the interests of ING’s external clients.
Corporate Audit Services (CAS) conducts and coordinates audits within the area of Model Risk Management. The Model Audit Supervisor/ Audit Manager is part of the CAS Models team, a dedicated team of model experts who support the various audit teams across the world in effectively assessing all types of models in ING (credit / market risk models, Machine Learning models etc.).
As a Models Audit Supervisor / Audit Manager you will be challenging the models and assessing the model design, development, validation, implementation, monitoring, together with a project team of auditors and risk specialists. Your tasks will consist of well-known validation and test techniques for both regulatory (e.g. AIRB, VAR/Expected Shortfall, IMM) as non-regulatory models (amongst others: credit application, Pricing/Valuation, IFRS models). Machine Learning models is part of non-regulatory models. You report your audit findings including suggestions for improvement and concrete recommendations, and presented to senior management.
Your counterparts in the ING organisation are working in model development, global analytics, risk measurement and model validation departments. In cooperation, you will challenge them towards developing to industry best practice and new modelling techniques.
Your work environment
As a Models Audit Supervisor / Audit Manager you are part of an international Model Risk audit team (based in Amsterdam and Madrid). This team is part of the CAS Audit Division Risk & Finance. CAS is a highly professional organisation with approximately 20 audit teams across the globe and comprises a diverse international team of around 400 members. Together with your CAS colleagues, you have worldwide coverage on model related audits. International audits are performed as a joint effort between local representatives and (central) model specialists. Working at CAS that you will be operating at the very heart of the ING organisation. This also means that your work has the interest of regulators, external accountants and executive management
Strong analytical and communicative skills
A successful candidate should have strong analytical skills and the ability to challenge and improve models and algorithms used within ING. Moreover, being able to translate complex modelling problems to their effect and impact on the bank’s operations is a key to success.
Good communication and presentation skills are strong requirements. The candidate should have a pro-active attitude and a creative mindset. The ideal candidate will have strong academic records and experience in model development and/or validation. Experience in risk management is not required but may be considered as a plus. You are accurate and describe yourself as a team player who is very capable of working in international teams, as well as independently when the task at hand requires.
- Have a university degree (MSc or PhD) in econometrics, mathematics, physics or other quantitative topic.
- Have beyond 4 years of relevant work experience within a financial institution / university
- Have good programming skills in Python/ R/ Matlab/ SAS
- Are fluent in English (fluency in other languages is appreciated).
- Are keen in exploring many aspects of financial modelling.
- Are organisationally sensitive and effective in conflict management.
- Have proven communication, convincing and advisory skills with the ability to work at all levels in the organisation.
- Are persuasive; being able to ‘get people on board’ and ensure necessary buy-in from stakeholders.
- Are willing and free to travel, dependent on the assignments (approximately 6 weeks per year).
Focus on development and growth
At ING we realise that qualitative growth means that we always have to have the best people in the best positions. That's why we will invest in your personal growth and development. Within CAS this is even more important, in order to stay closely connected to the rapidly changing internal and external environment. We will ensure that you are always up-to-date on the key developments in your area of attention, which allows you to continue improving your performance.
What we offer
This is a full-time position of 36 hours or 40 hours a week in Amsterdam. ING Bank offers an attractive employee benefits package with excellent secondary labour conditions as agreed in the collective labour agreement:
- A salary tailored to your qualities and experience
- A reimbursement for travel expenses
- 24 vacation days with a 36-hour working week. If you work 40 hours a week, you will receive 27 vacation days
- Pension scheme
- 13th month salary
- Individual Savings Contribution (BIS), 3.5% of your gross annual salary
- 8% Holiday payment
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.
With around 52,000 employees and operations in approximately 40 countries, there is no shortage of opportunities for people with initiative who want to make a difference. We hire smart people like you for your potential, not your past. Our biggest expectation is that you’ll stay curious. Keep learning. Take on more responsibility. In return, we’ll back you to develop into an even more awesome version of yourself. If you want to work at the cutting edge of what’s possible, surrounded by progressive, inspiring and supportive colleagues, there is no better place to invest your talents than at ING.