Model Validator IRRBB & ICLAAP

ING Hubs Romania; Amsterdam; Hybrid; EUR 90,000 - 140,000; Full time

Benefits offered by this job

8% Holiday payment

Personal growth and challenging work

Informal working environment withInnov

Job summary

ING is seeking a hands-on Model Validator to support the Chapter Lead IRRBB & ICLAAP within Model Validation Financial Risk in Amsterdam. The role involves validating models across markets, challenging 1st MLoD, and delivering high-quality reports to risk committees.

You will work in a diverse, international team in a hybrid setup, applying quantitative methods to measure interest rate risk and ALM models, while enabling continuous improvement and automation.

Qualifications

• MSc or PhD in a quantitative field plus relevant experience in a similar role.
• Strong programming skills in Python and/or R.
• Proven ability to communicate complex quantitative topics clearly.

Responsibilities

• Conduct timely, high-quality model validations in line with regulations and policies.
• Prepare validation reports and present findings to committees.
• Challenge 1st MLoD on model risk and assumptions.
• Develop and implement validation frameworks and automation initiatives.
• Collaborate across chapters and locations to share best practices.
• Maintain relationships with internal teams and regulators.

Skills

Quantitative background

Python

R

Attention to detail

Excellent communication

Education

MSc/PhD in quantitative field

Tools

Python

R

Job description

Hybrid - Amsterdam, Noord-Holland, Netherlands

Aug 21, 2026

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 team

ING’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 responsibilities

• Conduct timely, high-quality model validations in line with external regulations, internal policies, and model validation frameworks.
• Challenge 1st MLoD on their level of model risk
• Prepare 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 internal teams (Model Development, Risk Management, Audit) and assist with external stakeholder management (regulators, auditors).
• Contribute to continuous improvement by suggesting enhancements to validation processes and frameworks.

How to succeed

• A quantitative background, i.e. a MSc or PhD degree in e.g. (Financial) Econometrics, Financial Mathematics, Quantitative Financial Economics, Mathematics, Statistics, Physics etc. combined with significantly relevant professional experience in a comparable role
• Adequate technical and regulatory expertise in quantitative modelling and risk management.
• Solid programming experience (preferably in Python and/or R).
• Attention to detail and commitment to delivering high-quality work.
• Excellent verbal and written communication skills, with the ability to explain complex quantitative and regulatory topics clearly and convincingly to a broad range of stakeholders, including senior management, auditors and regulators.
• Ability to challenge 1st MLoD on their Model Risk and to manage multiple priorities in a fast-changing environment.
• Continuous improvement mindset and openness to innovation.

Specific Knowledge and Experience

Your prospective model scope is broad and are related to the following main areas:

• Behavioral: Modelling of mortgage & other loan prepayments and non-maturity deposits, as well as other embedded options in retail and wholesale products.
• Interest rate: Market models (e.g. Hull-White model).
• Valuation: Models used for calculating the economic value of a loan or deposit portfolio with embedded options.
• Pricing: Models used for product pricing.
• Replication: Models used for risk transfer.
• Risk measurement: Models used for risk management and reporting (NPVaR, RRaR, NIIaR).

As part of the chapter, you will contribute to further building and developing the team by sharing knowledge, coaching more junior staff and by embracing ING’s Agile way of working.

Above all, you have a genuine passion to continuously improve yourself and our team. As a model validator at ING, you will be empowered to have a true impact on ING’s future model landscape.

About us

Curious about how ING empowers people and businesses to move forward?

The benefits of working with us at ING include:

• 8% Holiday payment
• Personal growth and challenging work with endless possibilities
• An informal working environment with innovative colleagues