Credit Risk Model Developer (IRB & IFRS9)

ING Hubs Türkiye; Lombardia; Hybrid; EUR 51,000 - 63,000; Full time

Benefits offered by this job

Flexible Smart Working

Competitive base salaries

Meal vouchers and corporate restaurant

Health insurance and Accidentinsurance

Pension fund and welfare plan

Training and development opportunities

Birthday day off

Well-being initiatives

Office perks like water and coffee

Job summary

ING Italy is seeking a senior risk modeler to join the Model Development Unit within Retail Credit Risk in Milan. You will develop PD, LGD and EAD models under AIRB and IFRS9 for Mortgage and Consumer Lending portfolios, and contribute across the full model lifecycle.

You will ensure ECB/EBA compliance, support validations, backtesting and regulatory interactions, and participate in production deployment with IT and validation teams. The role requires strong collaboration and English proficiency.

Qualifications

• Minimum 4 years of experience in IRB/IFRS9 model development or validation for retail portfolios.
• Solid background in quantitative risk modelling and regulatory compliance.

Responsibilities

• Lead development, maintenance and monitoring of AIRB and IFRS9 models for Mortgage and Consumer Lending portfolios.
• Develop and maintain PD, LGD and EAD models under AIRB; IFRS9 risk parameter models for Mortgages and Consumer Lending.
• Ensure compliance with ECB, EBA and Group risk management requirements; support approvals, reviews and inspections.
• Monitor model performance via backtesting and implement corrective actions.
• Collaborate with Validation, Audit, ECB and internal teams; provide analyses for forecasting and pricing changes.
• Prepare reports for Senior Management on model performance and actions; support production deployment.

Skills

Credit risk modelling

AIRB/IFRS9 knowledge

ECB/EBA requirements

Regulator interactions

Mortgage & Consumer Lending

Data tools

Collaboration & leadership

English fluency

Tools

SAS

Python

MATLAB

Job description

Activities

You will join the Model Development Unit within the Retail Credit Risk area, contributing to the design and enhancement of risk models for retail portfolios. Specifically, you will be part of the team responsible for developing models for calculating risk parameters (PD, LGD, EAD) under both IRB and IFRS9 frameworks. You will play a key role in the development, maintenance and monitoring of regulatory and accounting risk models for Retail Banking portfolios. The role covers AIRB models (PD, LGD, EAD) for the Mortgage portfolio as well as IFRS9 models for both Mortgages and Consumer Lending portfolios. The successful candidate will contribute across the full model lifecycle, from methodology implementation and model development to monitoring, regulatory interactions and implementation oversight.

Responsibilities

Lead the development, maintenance and monitoring of AIRB and IFRS9 models covering Mortgage and Consumer Lending portfolios. Develop and maintain PD, LGD and EAD models for Mortgage portfolios under the AIRB framework, as well as IFRS9 risk parameter models for Mortgages and Consumer Lending portfolios. Ensure compliance with ECB, EBA and Group model risk management requirements, supporting model approvals, annual reviews, remediation plans and regulatory inspections. Monitor model performance through periodic backtesting and implement corrective actions when necessary. Define and execute action plans to address validation findings and regulatory feedback. Support implementation and production deployment, including test strategy definition, result verification, and corrective measures. Collaborate with internal and external assessment teams (Internal Validation, Audit, ECB) ensuring timely adoption of recommendations. Conduct ad-hoc qualitative and quantitative analyses, including impact assessments and sensitivity analyses for forecasting, new product introduction, pricing, and model changes. Perform portfolio monitoring with a focus on risk parameter evolution. Prepare reports for Senior Management on model performance and corrective actions. Ensure integration of models into business processes and promote knowledge sharing across the organization. Act as a change agent, fostering awareness and adoption of advanced risk modeling practices.

Required skills

• Strong experience in credit risk modelling within banking environments.
• Proven experience in AIRB and/or IFRS9 methodologies, including PD, LGD and EAD modelling.
• Good understanding of ECB and EBA requirements related to IRB and IFRS9 frameworks.
• Experience interacting with Validation, Internal Audit and regulators and senior management is considered a strong advantage.
• Knowledge of Mortgage and Consumer Lending portfolios is preferred.
• Technical proficiency in data management and modeling tools (SAS, Python, MATLAB, etc.).
• Strong collaboration skills with internal stakeholders (IT, Data Management, Finance, etc.).
• Proven team coordination, time management, and organizational skills.
• Fluent in English, both written and spoken.

Required Experience

Minimum 4 years of experience in IRB/IFRS9 model development or validation for retail portfolios. Solid background in quantitative risk modeling and regulatory compliance.

Contract offer

Working conditions: Permanent employment contract Working hours: Full time (37 hours per week) Applicable Collective Labour Agreement: National Collective Labour Agreement for employees in the credit sector (NCLA) Location: Milan

Annual base salary

57.000€

Variable remuneration

in line with the applicable remuneration policies (with a target based on the role, outcomes linked to the Group, Business line/function, and individual performance)

Compensation approach

Our compensation approach is built on objective, gender-neutral criteria aligned with the role’s core requirements. That said, we believe talent goes beyond any framework: your total reward package will be tailored to reflect your unique experience, skills, and potential, ensuring we fully recognize the value you bring.

Benefits of joining ING

• Flexible Smart Working
• Competitive base salaries and performance-based bonuses
• Meal vouchers and corporate restaurant and bar
• Health insurance and Accident insurance
• Pension fund and welfare plan
• Diverse cultures & Innovative mindsets
• International Environment and Talent Program
• 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!
• Free water & coffee at the office

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 tell people how to live their lives. We empower people and businesses to realize their own vision for a better future. 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.