(Senior) Risk Expert (Climate Risk), Risk Models

Nordea Bank Abp, Filial i Sverige; Uppsala kommun; Hybrid; SEK 900,000 - 1,200,000; Full time

Benefits offered by this job

Hybrid working model

Job summary

Nordea Bank Abp is seeking a (Senior) Risk Expert to develop methods integrating climate and environmental risks into internal credit risk models. You will build Python-based tools, perform scenario analyses, and align with ECB/EBA/NGFS expectations in a role with a hybrid working model.

The ideal candidate has 2–10 years in quantitative modelling, strong econometrics skills, and a Master’s/PhD in a quantitative field, with ESG/climate risk interest.

Qualifications

• 2–10 years of experience in quantitative modelling.
• Strong background in statistics and econometrics.
• Python programming; building modelling tools or libraries.
• Understanding of PD, LGD and IRB concepts.
• Master’s or PhD in a quantitative field.
• Interest in ESG / climate risk modelling, scenario analysis or stress testing.

Responsibilities

• Develop quantitative models integrating climate and ESG risks into IRB and other credit risk models (PD, LGD).
• Perform statistical and econometric analyses, including scenario-based approaches.
• Conduct quantitative data analysis and assess financial impact of model/data changes.
• Develop and maintain Python-based modelling tools and validation workflows.
• Define ESG data requirements and integrate external datasets into modelling frameworks.
• Stay informed on ESG risk modelling developments and regulatory expectations (ECB, EBA, NGFS).
• Contribute to model documentation and validation deliverables for internal/supervisory review.

Skills

Quantitative modelling

Statistics & econometrics

Credit risk modelling (PD, LGD)

IRB modelling experience

ESG / climate risk modelling

Data analysis

Python programming

Education

Master’s or PhD in quantitative field

Tools

Python

Job description

Job ID: 5841

About the role

(Senior) Risk Expert – Climate Risk, Risk Models (permanent position). We are looking for a Senior Risk Expert to develop quantitative methodologies that integrate climate and environmental (C&E) risks into our internal models and risk framework.

Responsibilities

• Contribute to the development and implementation of quantitative models integrating climate and ESG risk drivers into IRB and other credit risk models (PD, LGD). Emerging risks may be added to the scope of risks.
• Perform statistical and econometric analyses, including scenario-based approaches, to assess the impact of ESG factors on credit risk parameters.
• Conduct quantitative data analysis, including assessing the financial impact of model and data changes.
• Develop and maintain Python-based modelling tools and analytical code, including prototyping and validation workflows.
• Support the identification of ESG transmission mechanisms and translate them into modelling assumptions and inputs.
• Contribute to defining ESG data requirements and integrating external datasets into modelling frameworks.
• Stay informed on developments in ESG risk modelling and regulatory expectations (ECB, EBA, NGFS) and support their implementation.
• Contribute to model documentation and validation deliverables required for internal and supervisory review.

Qualifications

• Experience in quantitative modelling (junior to senior level; ~2–10 years).
• Strong background in statistics and econometrics, including model estimation and data analysis.
• Programming experience (Python required), ideally with experience in building modelling tools or libraries.
• Understanding of credit risk modelling concepts (PD, LGD); IRB experience is an advantage.
• Degree (Master’s or PhD) in econometrics, mathematics, statistics, physics, finance, computer science, or similar quantitative field.
• Exposure to or interest in ESG / climate risk modelling, scenario analysis or stress testing, macroeconomic modelling or transmission channels.
• Experience with IRB models or regulatory frameworks.
• Experience working with large datasets and data pipelines.
• Prior exposure to climate or ESG-related modelling topics.

What differentiates this role

• Direct involvement in hands‑on quantitative modelling, not limited to governance or coordination activities.
• Opportunity to contribute to emerging ESG risk quantification methodologies, including scenario design and risk transmission modelling.
• Work in a high‑impact area under active regulatory scrutiny, with exposure to both modelling and regulatory perspectives.

What we offer

Hybrid working model – flexible and collaborative.

High‑impact area with regulatory oversight.

Diversity and inclusion are a natural part of our daily work, with commitments to continuous improvement.

Union information

For union information, please contact Finansförbundet at [e-mail] or SACO at [e-mail].