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Head of Risk Model Development

Impiegato | Risk Management | Da 2 a 7 anni di esperienza | Italia | Milan | 2023-09-29 | 068961


Job Description:

ING Italy is looking for a Head of Risk Model Development to set-up, build and lead the Risk Model Development team in Italy. This team will focus on the development of regulatory Credit Risk - and Trading Risk models.  The team is part of ING Italy and works in very close cooperation with the  Group Model Development department, which comprises of a large team of modelling experts in Trading Risk, Credit Risk and Market Risk in IRRBB and Balance Sheet Risk models and that uses state-of-the-art modelling methods, tooling, and data-processing technologies. 


The position offers excellent opportunities to excel in what you do and to broaden your modelling, coding and leadership skills, as well as exposure to a dynamic and agile international working environment.


What you'll do

  • The Risk Model Development department in ING Italy is a new department that needs to be fully set-up. The department will focus on two areas of expertise: 1) the development, monitoring, managing modelling changes and support in designing new methodologies and tooling for Low Default Portfolio Credit Risk models and 2) the development, monitoring, managing modelling changes and support in designing new methodologies and tooling for Trading Risk models used in the Financial Markets business of ING.

  • We are looking for a manager that has extensive experience and is able to set-up this new department from an organisational as well as from a recruitment point of few. You will be responsible for ensuring that a high performing department is created, the right people are selected and that the people in your team are well supported in their professional and personal development.
  • Next to this you will be responsible for the planning, execution and quality assurance of the activities of your team. This will require a close cooperation with the Group Model Development department as well with the different stakeholders in ING. Therefor we are looking for a manager that is a great communicator, has successfully planned and managed complex model development projects and possess great stakeholder skills and experience in large international organisations.
  • Last but certainly not least, as you will be responsible that activities are delivered in time and with the right quality you are a hands on type of leader that that has extensive experience in developing and validating regulatory Credit Risk and Trading models and has proven to be effective in establishing and implementing the right model risk and process controls.


Who we are looking for

You have:

  •  A PhD or a MSc in a quantitative field, e.g., mathematics, physics, statistics/ econometrics etc;
  • At least 7 years  years of Risk Model Development  experience in the following areas:
  • Development of Regulatory Credit Risk models for Low Default Portfolio’s and the implementation of such models in complex sytems landscape 
  • Development of Trading Risk models and/or Counterparty Credit Risk models and the implementation of such models in Python or C++;
  • Familiarity with the most important regulatory developments (e.g. CRR Credit Risk regulation, CRR Market Risk framework for the Trading Book, FRTB, Prudent Valuation framework, etc);
  • Extensive experience with ECB model approval process and on-site missions
  • Strong planning and reporting skills and experience 
  • Strong communication and presentation skills 
  • Proven leadership experience
  • Fluency in Italian and English language; and
  • Constructive attitude and pro-active team player.

What we offer

A job where you really can make a difference and impact for our customers The models that you and your team will develop will determine and measure risk and are key in all the decisions ING makes. 


Duration: Permanent

Location: Milan


About ING

ING offers many opportunities to build a diverse and rewarding career. You will be joining an international innovative digital bank, the first in Italy to adopt a fully flexible smart working model, and you will be working in a stimulating environment where you can grow both as an individual and as a professional.

Our purpose - empowering people to stay a step ahead in life and in business - represents our belief in people’s potential. We don’t judge, coach or to tell people how to live their lives. We empower people and businesses to realize their own vision for a better future.

#doyourthing is our brand direction with us each and every day. It is how we articulate our purpose and our promise to make banking frictionless to the world. ‘do your thing’ is about people being free to live the life they want to live, knowing that they will make their world a little better for it.

Do you think you are "a step ahead"? Apply now! 


The benefits of joining ING

In addition to being a part of a great team, working in a fun and innovative environment, we offer:


  • Super flexible smart working 
  • Competitive base salaries and performance based bonuses 
  • Diverse cultures & Innovative mindsets 
  • International Environment
  • Commitment to sustainability
  • Lots of training development opportunities to help you grow
  • Lots of moments dedicated to physical and mental well-being
  • A special day off when it is your birthday: we call it #doyourbirthday!
  • And of course we can’t forget: free water & coffee at the office! 

Our Commitment

Diversity is a fundamental element of our corporate culture, and we are fully committed to creating a safe and inclusive environment, based on mutual respect and the value of diversity, offering equal job opportunities to all qualified candidates.


Verso l'alto

Please be aware that the recruitment procedures, (labour) regulations and labour agreements of Italia apply.

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