Model Risk Manager (Expert) - Trading Book (Model Risk Oversight)
Employee | Risk Management | Professional | Poland | Warszawa | 2023-10-05 | REQ-10056852
We are looking for you, if you have:
- An academic degree (MSc) in Finance, Econometrics, Mathematics, Physics, Economics or another quantitative/numerical field.
- Strong analytical and problem solving skills
- Strong stakeholder management skills, including experience managing communication and influencing senior stakeholders. Good listener and interviewer, receptive to the feedback from the stakeholders
- Ability to explain policy requirements and their applications in a simple language to senior stakeholders
- Practical product and model knowledge in at least one of the following asset classes is required: Interest Rate & Inflation, FX, Credit, Equity, Commodities and/or XVA.
- 5–8 years’ work experience in financial industry related to banking and/or trading modeling landscape; Good understanding of the regulatory requirements of the bank, EBA guidelines, CRR, CRD, Basel, ICAAP, FRTB, etc is a plus.
- Knowledge of Model Risk Management Framework principles (SR 11-7, EBA guidelines on Model Risk)
- Excellent English verbal and writing skills
- Willing to travel to other ING locations occasionally
You'll get extra points for :
- A completed CFA or FRM
- Knowledge in the area of Asset and Liability Management (ALM), Interest Rate Risk in the Banking Book (IRRBB) or generic Market Risk
- Support the team with the rollout of model risk management in trading book & banking book domains
- Establish a relationship with (senior) model stakeholders and support them throughout the model life cycle
- Bring expert knowledge on trading book models (also preferable banking book models knowledge) both for pricing and risk calculation, and participate in actively sharing knowledge with stakeholders
- As a model risk manager, challenge model stakeholders about the sources of model risk and how to mitigate and manage them, including facilitating and challenging the model risk assessment of the models.
- Support the team in monitoring the model risks under model risk appetite set within the domain and reporting it to the senior management
- Gain detailed knowledge on internal model risk management framework, and communicate with wider stakeholders on policy requirements and challenge any misalignments of the policy implementations
- Follow current and new regulatory requirements and best practices in model risk management
- Contribute to the organization’s efforts in responding and reporting to regulatory bodies
Information about the Chapter:
Model Risk Oversight (MRO) is a fast growing, energetic, international team of highly qualified Model Risk Experts, Business Analysts, and Developers. MRO is developing and rolling out the new Model Risk Management (MoRM) framework which scope covers all models used within ING Bank worldwide. To further strengthen and manage the model risk management activities, MRO expands within Risk Hub of ING Hubs Poland. The Risk Hub Model Risk Oversight Chapter supports/guides global and local model communities in execution of the model life cycle activities, together with Global MRO team facilitates oversight, monitoring model risk, and reporting for local entities. We are looking for Model Risk Experts to drive Model Risk Management framework and to support Model Risk Lifecycle activities in ING. Within Model Risk Chapter, model risk managers are focusing on different categories of models in ING. Trading Book & Banking Book experts are responsible for all trading book & banking book models used in ING, including the pricing models used in ING’s Financial Market and Group Treasury, as well as risk models used in Interest Rate Risk in the Banking Book (IRRBB), Market Risk Economic Capital, Liquidity & Funding Risk, Market Risk, Counterparty Credit Risk, Valuation Adjustment, etc.
At ING Hubs Poland and ING Group we follow the Agile approach and mindset. We are innovative and we trust people we work with. The broad autonomy our employees have, stimulates motivation and creativity what allows us to adapt to the changing requirements of business partners. Small units called squads are the core of our organization. They have clear vision of products, overcome challenges autonomously and based on team cooperation, work out the most flexible and effective way of working.