IFRS9 Specialist – Model Validation Credit Risk

Model Validation Credit Risk is looking for a senior expert on IFRS9

Our Credit Risk Model Validation tribe (CRMV) is a growing, energetic, international team of 85 highly qualified professionals with various quantitative backgrounds located in Amsterdam (~45) and Warsaw (~40). We are responsible for validating all Credit Risk models used by ING worldwide. By bringing in our expertise we assure that models are appropriate for intended use, compliant with internal policies and external regulations and its limitations are well understood by the organisation. Our goal is to ensure a strong modelling landscape within ING. CRMV’s scope includes IRB, IFRS9, Economic Capital, Stress Testing and Credit Decision Models (CDM), such as acceptance scorecards and early warning systems.

We are looking for a senior expert on IFRS9 models. Within our agile organisation, we call these ‘Guild leads’. The IFRS9 Specialist drives the continuous improvement of our practices in IFRS9 and aims to increase the overall consistency of the validations we do throughout the organisation. Together with the Chapter Leads and Lead Validators, you ensure that our work satisfies the highest quality standards. The IFRS9 Specialist has a full view of our model landscape, is an active participant in the provisioning process of ING’s full credit risk portfolio, and has a solid grasp of all the challenges that lie on the road ahead.

The responsibilities of a IFRS9 Specialist / Guild Lead

As an IFRS9 Guild Lead you are the senior expert in our team on all IFRS9 related topics. You:

• translates new developments within the industry to the implications for ING and CRMV specifically, such as new regulation, industry best practices, academics and industry benchmarking exercises
• leads the ongoing conversations with the external accountant
• supports IFRS9 related audits by internal & external audit and regulators; and ensures follow-up of any findings
• are the go-to-person on IFRS9 specific challenges, both within the validation team, and to our stakeholders
• you participate in provisioning committees on behalf of CRMV and advice on all topics related to provisioning
• create the standard way of working by ensuring continuous improvement of our policy framework, supporting tools, working instructions and templates
• provide input on IFRS9 related policies created elsewhere in ING
• ensure consistency across the various chapters and squads within CRMV
• initiate & lead horizonal reviews over all IFRS9 models on specific topics
• stimulates knowledge sharing within the team
• support ongoing initiatives on continuing improvements on standardisation and automation within CRMV

You are expected to inspire the validators to contribute to these topics and ensure the improvements you work on are well embedded within the teams. Together you make it happen.

Who are we looking for?

We are looking for colleagues with strong technical capabilities and deep knowledge of IFRS9 regulation and practices. You get energized by being the ultimate expert on IFRS9 and finding solutions for the most complicated model challenges that can arise in our work.

You are largely self-steering and able to manage your own time to create the maximum added value. You like to think strategically and initiate continuous improvements. You can evaluate holistically across our model landscape and are comfortable to constructively challenge existing practices within and outside CRMV.

You have:

• an academic degree (MSc or PhD) in Econometrics, Mathematics, Physics, Economics or another quantitative/numerical field
• detailed knowledge on IFRS9 regulations and modelling approaches
• at least 8 – 10 years related work experience with credit risk models
• ability to explain complicated topics to 3rd parties
• knowledge of IRB and/or Credit Decision Models is a plus
• You have an investigative and critical, though positive constructive mindset
• excellent communication, writing & reporting skills in English

Your work environment

• Our Tribe is part of the Model Risk Management (MoRM) department which currently consists of three validation tribes (Credit Risk; Trading Book Risk and Banking Book Risks) and a Model Risk Oversight tribe.
• MoRM has adopted the ING One Way of Working. In our organisation set-up we distinguish Chapters and Squads. CRMV has chapters & squads with each their own focus on all the models of specific business units. In addition, we have one Chapter ‘Strategic Improvement’ that focusses on all cross-chapter topics. The IRB Specialist / Guild Lead is part of this Chapter.
• Our main stakeholders are ING’s head office and local risk departments, senior management (including the CRO and Executive Board), internal and external auditors, the ECB and other regulators. To ensure its independence, Model Risk Management reports directly to the CRO.
• The environment that you work in can be described as dynamic, professional with fast changing requirements and needs.
• CRMV promotes a culture of continuous improvement & innovation, ongoing feedback and empowering people to take responsibility.

What we offer

A job from 36 to 40 hours and a unique offer that fits in with the times of today. We take into account your home situation and your ambitions and help you to balance work and private life.

To give you an idea, we will tell you about the benefits of working at ING:

• A salary tailored to your qualities and experience
• 24 vacation days with a 36-hour working week. If you work 40 hours a week, you will receive 27 vacation days
• Reimbursement for travel expenses
• Pension scheme
• 13th-month salary
• Individual Savings Contribution (BIS), 3.5% of your gross annual salary
• 8% Holiday payment
• Personal growth and challenging work with endless possibilities to realize your ambitions
• An informal working environment with innovative colleagues who strive for the very best
• Progressive way of working according to the Agile method, so that new ideas come to life

Interested?

Apply for this job now! For further information, please contact Arjan de Ridder, Tribe Lead Credit Risk Model Validation (Arjan.de.Ridder@ing.com).