Janneke Meis & Ozlem Guven
We really are on top of all the developments within the data domain
Janneke Meis and Ozlem Guven both work in the ING Financial Risk Model Development team that is responsible for developing credit, market and trading risk models for ING Global.
In her current role, Ozlem mainly works on credit risk models, while her colleague Janneke is currently focused on market risk modelling. The Model Development team, where both of them work, brings together asset risk, market risk and credit risk. The team’s aim is to ensure that every colleague can model all kinds of risks. But what exactly does risk modelling entail?
Ozlem:“Using all the data at our disposal, we’re able to create models that predict how much risk we’re exposed to in terms of gaining or losing capital, based on customer behaviour. To do that, we dig down deep into the data and analyse various scenarios. The models reveal the size of the risks in the case of situation X or Y. Within credit risk we work on regulatory projects at the request of the regulators who need information from us. We also work on credit risk models which allow us to calculate how much capital we need and on more operational models, such as related to loan applications.” Janneke is currently mainly focused on modelling the interest rate risk on retail banking products, e.g. current accounts, savings accounts and mortgages. One of her projects revolves around introducing global standardisation for models. This requires close contact with her colleagues at ING in Spain, Germany and Poland as well as in other ING countries where the group model is being implemented. “I really like that international aspect. Some of my colleagues are doing an STA abroad and spend three to six months working in the relevant country. I can definitely see myself doing that too in the future.” Another thing that really appealed to her about her current role was the complexity of the subject matter: “I wrote my thesis about modelling early amortisation of mortgages and that’s one of the primary tasks of the department I’m now working in.”
Ozlem: “We’re always working on several types of models at a time, and that’s what I find so enjoyable about my job. There’s always lots of variety. On some days I focus solely on the data all day long; I just put on my headphones and get stuck into it. On other days I go from one meeting to the next, or I’ll be required to present my models to the regulators/auditors. But most days are a mix of all those activities.” Both: “To be able to do this work you need very highly developed analytical skills, but good communication skills are equally important. You have to deal with a lot of different people, both internally and externally. So it’s useful if you’re quick to grasp what the teams within ING need from you, how they work and why they ask you the things they do.” Both Janneke and Ozlem not only find this combination of analysis and communication particularly interesting and stimulating, but also love being in an extremely innovative field of work (“We really are on top of all the developments within the data domain”) and such an international environment. Ozlem: “I think ours is the most international team within ING. We have colleagues from Africa, China, the Netherlands, I myself am from Turkey – there are people from all over the world.” “Indeed,” Janneke agrees, “all that, in combination with all the opportunities we get to develop ourselves within an open-minded organisation, makes ING a great place to work.”
Ozlem studied economics, tourism & business administration and is doing an MBA Big Data & Business Analytics at the University of Amsterdam (UvA). She started as a management trainee at ING Turkey and worked there for 2.5 years, first in a marketing team and then later in market and credit risk. She applied to come to ING Group in the Netherlands on a short-term assignment (STA); but she was offered a permanent job in Amsterdam. Ozlem spends her spare time learning Dutch, playing volleyball, attending a painting course and hanging out with friends. She likes to travel a lot, especially around Europe. She lives in Amsterdam.
While doing a bachelor’s in economics in Utrecht, Janneke discovered she was interested in econometrics and decided to proceed with a Masters’ in Quantitative Finance at the Erasmus University. During an internship at a consultancy firm she worked on modelling the risk of early amortisation of mortgages. From there, it was only a small step to a bank. After working in credit risk at ING the Netherlands, she joined the Model Development team early 2017. Like Ozlem, Janneke also lives in Amsterdam and she enjoys keeping fit; she is an avid runner, often together with some of her colleagues, and so she naturally also takes part in the running events that ING organises. Besides that, she loves spending quality time with her friends and travelling.