Credit Risk Model Validator (Retail Models) [Senior/Lead Quantitative Risk Analyst]

Nordea; Stockholms kommun; Hybrid; SEK 700,000 - 1,000,000; Full time

Job summary

Nordea is seeking a Credit Risk Model Validator (Retail Models) at Senior/Lead level to join the Model Risk & Validation team. The role focuses on validating IRB, IFRS9 and stress testing models, ensuring soundness and compliance, and guiding developers in risk management.

You will collaborate with stakeholders, apply quantitative and qualitative analyses, and contribute to process improvements in a dynamic Nordic banking environment.

Qualifications

• Academic degree in a quantitative field such as mathematics, econometrics, statistics, finance, engineering or economics.
• Experience in Python or SAS programming.
• Experience in EAD or LGD modelling is an advantage.

Responsibilities

• Perform validations independently.
• Take an active role in the validation of existing, new and changed credit risk models, including IRB (PD/LGD/EAD), IFRS9 and credit risk stress testing models.
• Use quantitative and qualitative analyses to identify and assess model risk.
• Communicate the outcome of our reviews to a variety of stakeholders.
• Advise and guide model developers and other stakeholders in managing model risks.
• Develop and improve techniques and processes for model validation.
• Lead validations to ensure that MRV's deliveries are completed with a high quality (Lead level).

Skills

Analytical thinking

Communication skills

Education

Quantitative degree

Tools

Python

SAS

Job description

Credit Risk Model Validator (Retail Models) [Senior/Lead Quantitative Risk Analyst] (permanent position)

Job ID: 6069

Would you like to be part of a team with experienced and talented colleagues and make a difference for Nordea’s credit risk models? We are currently looking for skilled analysts to strengthen Nordea's independent model validation function.

About Our Team

Meet the Model Risk & Validation team. Our role is to add value by assessing risks related models used in Nordea through independent model validation and other means. As a model validator, you will play a key role in ensuring that models satisfy internal and external standards for conceptual soundness, performance and use.

Collaboration. Ownership. Passion. Courage. These are the values that guide us in how we work and how we make decisions – and that we imagine you share with us.

Main responsibilities in this role

• Perform validations independently.
• Take an active role in the validation of existing, new and changed credit risk models, including IRB (PD/LGD/EAD), IFRS9 and credit risk stress testing models.
• Use quantitative and qualitative analyses to identify and assess model risk.
• Communicate the outcome of our reviews to a variety of stakeholders.
• Advise and guide model developers and other stakeholders in managing model risks.
• Develop and improve techniques and processes for model validation.
• Lead validations to ensure that MRV's deliveries are completed with a high quality (Lead level).

Who You Are

• Are confident in your analysis, but also willing to challenge your views with peers.
• Engage in a productive collaboration with stakeholders including model owners/developers.
• Enjoy working in a team, but also independently.
• Have an eye for detail, yet able to see the big picture.
• Have excellent skills in spoken and written communication (English).
• Effectively communicate complex topics to a variety of stakeholders.

Your background and skills include

• Academic degree in a quantitative field, such as mathematics, econometrics, statistics, finance, engineering or economics.
• Experience in Python or SAS programming.
• Experience in EAD or LGD modelling is an advantage.

What We Offer

People come here when they want to get somewhere. For some, it’s to take their career to the next level. For others, it’s to break new ground within their area of expertise – in other words, with us, you will always move forward.

A culture that fosters performance and growth in one of the largest Nordic banks, offering various opportunities to evolve, develop and learn from brilliant colleagues with diverse backgrounds in a vibrant working environment.

Hybrid working model – we believe in the value of bringing people together and at the same time we embrace the freedom of flexibility.

Diversity and inclusion are a natural part of our daily work. We know that an inclusive workplace is a sustainable one. We genuinely believe that our diverse backgrounds, experiences, characteristics and traits make us stronger together. Every day we strive to find new ways to improve diversity and inclusion within our community e.g. we have signed the European Diversity Charters in the countries where we operate to show our commitment and engage with others to continue learning and improving.

We enable dreams and aspirations for a greater good

We build relationships. We add a personal touch to everything we do – when advising our customers, collaborating with colleagues, and meeting our potential candidates.

We learn and develop

We take pride in being experts and thinking ahead. We use our expertise to meet our customers’ needs, from the simplest to the most complex. We bring a growth mindset to our work that enables us to focus on a broader perspective in our daily challenges.

We lead change

We are responsible and aware of the impact of our decisions, both for our customers and for our local and global communities. Mindful of our responsibility towards current and future generations, we have made sustainability an integrated part of our business strategy.

We are Nordea

We have a 200-year history of supporting and growing the Nordic economies and our values are deeply rooted in these open, progressive and collaborative societies. As one of the biggest employers in the Nordics, Poland and Estonia, you have excellent opportunities to evolve, develop and move forward with us.

Only for candidates in Finland: A security clearance will be performed for the person selected for this position

Only for candidates in Sweden: For union information, please contact Finansförbundet at [e-mail] or SACO at [e-mail]

Only for candidates in Poland: Please include permit for processing personal data in CV as following: In accordance with art. 6 (1) a and b. Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) hereinafter ‘GDPR’. I agree to have: my personal data, education and employment history proceeded for the purposes of current and future recruitment processes in Nordea Bank Abp. The administrator of your personal data is: Nordea Bank Abp operating in Poland through its Branch, address: Aleja Edwarda Rydza Śmiglego 20, 93-281 Łodź. Your personal data will be processed for the recruitment processes in Nordea Bank Abp. You have a right to access your personal data, right to rectify and right to delete. Disclosing the personal data in the scope specified by the provisions of Polish Labour Code from 26 June 1974 and executive acts are mandatory. Providing personal data is necessary to conduct the recruitment processes. The request for the deletion of your personal data means resignation from further participation in recruitment processes and causes the immediate removal of your application. Detailed information concerning processing of your personal data can be found at: https://www.nordea.com/en/doc/nordea-privacy-policy-for-applicants.pdf