Model Validator IRRBB & ICLAAP
We are looking for an energetic, naturally collaborative, and hands-on Model Validator to support the Chapter Lead IRRBB & ICLAAP within Model Validation Financial Risk.The teamING’s global Model Validation IRRBB & ICLAAP chapter is an energetic, diverse and collaborative international team consisting of about 15 highly qualified professionals of various quantitative backgrounds, located in Amsterdam.As model validators we safeguard the quality of ING’s models, which are used for all kinds of decision-making purposes.We are responsible for validating IRRBB & ICLAAP models used by ING in about 40 countries all over the globe. We cover an interesting, wide and evolving model scope aimed to measure the impact of interest rate risk on expected earnings and economic value as well as various ALM models used in balance sheet management. These models vary from those having a technically advanced quantitative orientation to those displaying strong expert judgment (in case of e.g. limited data availability). Our core business consists of independently assessing whether a particular model is fit for the purpose it was designed for, based on the business context, academic theories, empirical evidence, regulations, best practices & technological innovations. Effective challenge is key in our role. Herewith we contribute to sound business practices, supporting a healthy, sustainable ING and global financial stability.Specific Function Model Risk Management (MoRM) in a nutshell; Models are an imperfect reflection of reality. Models impact our business and we use models for decision making throughout ING. We need to manage uncertainties and shortcomings in our models, as there are risks involved. Are we sure that the output leads to the right decision? Models are a great asset but come with a risk that needs to be managed. The purpose of the Model Risk Management department is to ensure the models can add business value safely. That's why we've created a cross-domain Model Risk Management Framework helping us identifying, classifying, recording and validating models we use across ING. For example, Credit, Market, KYC, Operational and Pricing models. Together with our stakeholders in e.g. Model Development and COO Risk we try to obtain the best models for ING.Roles and responsibilitiesConduct timely, high-quality model validations in line with external regulations, internal policies, and model validation frameworks.Challenge 1st MLoD on their level of model riskPrepare validation reports and present findings to committees and stakeholders, ensuring transparency and clarity.Participate in thematic reviews and provide expert advice to internal stakeholders on model risk issues.Support the development and implementation of innovative validation frameworks and contribute to automation initiatives.Collaborate with colleagues across chapters and locations to ensure consistency and share best practices.Maintain constructive relationships with in...