Model Validator Business and Operational Analytics

The MVBOA Tribe is an energetic, international team of ~20 highly qualified professionals with various quantitative backgrounds located in Amsterdam and Warsaw. We are responsible for validating models in areas like GenAI, KYC & Compliance, Advanced Analytics, Loan Pricing, Collections and Non-Financial Risk and used by ING worldwide. The type of models is very diverse, ranging from simple ones to using very advanced data science and analytics techniques. 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.

Following ING’s Think Forward Strategy to become the next generation digital bank, data and models are considered key assets in our bank. As model validators we safeguard the quality of ING’s models, which are used for all kinds of decision-making purposes. We also contribute to the Model Risk Management (r)evolution that is picking up worldwide, given that models are imperfect representations of reality and hence may lead to financial losses and/or reputational damage. To effectively achieve these challenges, our Model Validation teams have been substantially growing lately and will further grow, also internationally.

We are looking for an enthusiastic, curious Model Validator who likes to develop him/herself in the MVBOA Tribe.

Roles and responsibilities

As a model validator you focus on and further learn about the topics related to the models in your scope, using machine learning, econometrics, coding, business knowledge and related regulations. You perform in-depth analyses and write code to perform quantitative assessments. You summarize your analyses and conclusions in clear, fact-based, and persuasively written reports, which are presented to the relevant model approval committees. You share your knowledge and effectively communicate with team members and a wide range of internal and external stakeholders. You also can participate in the development of innovative, state-of the-art validation frameworks and coding libraries.

Your main daily activities consist of the following:

• Assessing analytically, the fundamental assumptions underlying the models in scope, whether the models are correctly implemented in the systems, and their appropriateness given the business context.

• Writing high quality validation reports, to be discussed with e.g., model developers, senior management, auditors, the ECB, and other regulators (where needed). These reports include a description of the methodology, your model risk assessment of the various model validation dimensions, as well as several findings for model improvement (which require follow-up by the developers).

• Outside model validation, participating in other projects being executed within the tribe based on your areas of interest.

• Supporting other BAU activities like finding closure, readiness for validation discussions with stakeholders, model inventory updates for completed validations, among others.

As part of the MVBOA Tribe, you will contribute to further building and developing the team by sharing knowledge and by embracing ING’s Agile way of working.

How to succeed

We are looking for enthusiastic colleagues who enjoy performing quantitative analyses, writing & defending high quality validation reports, and have an intrinsic curiosity to continuously expand their knowledge. As a member of our team, you have:

• A quantitative background, i.e., a MSc or PhD degree in e.g. (Financial) Econometrics, Financial Mathematics, Quantitative Financial Economics, Mathematics, Statistics, Physics etc.

• 3-5 years of model validation experience.

• Strong and proven knowledge of statistical methods like copula and statistical distributions

• Strong and proven knowledge of operational risk and economic capital models

• Strong and proven knowledge of GenAI models and LLMs

• Strong and proven knowledge of various machine learning and advanced analytics techniques

• Knowledge of KYC/ Compliance/ IRB models a plus

• Solid programming experience (preferably in Python and/or R).

• Strong verbal communication skills. You enjoy sharing and presenting your work to colleagues, senior management, and auditors, and can defend your standpoint in lucid language.

• Good English writing skills, you are accurate and skilled at drafting reports.

You are prepared to travel occasionally. Your main base is Warsaw, Poland.

Your work environment

• Our Tribe is part of the Model Risk Management (MoRM) department which currently consists of four validation tribes (MVBOA; Credit Risk; Trading Book Risk and Banking Book Risks) and Model Risk Oversight tribe.

• MoRM has adopted the ING One Way of Working. In our organisational set-up, we distinguish tribes, chapters, and squads.

• 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.

• MVBOA promotes a culture of continuous improvement & innovation, ongoing feedback, and empowering people to take responsibility.

Rewards and benefits
We want to make sure that it’s possible for you to strike the right balance between your career and your private life. Find out more about our employment conditions. The benefits of working with us at ING include:

• A base salary in scale 10 (€ 4.367 - € 7.088 gross per month based on 36 hours)

• 24-27 vacation days depending on contract

• Pension scheme

• 13th month salary

• 8% Holiday payment

• Mobility card

• Hybrid working

• Personal growth and challenging work with endless possibilities

• An informal working environment with innovative colleagues

About us
Curious about how ING empowers people and businesses to move forward? Discover what we do and what we can offer you.

Questions?
Contact the recruiter attached to the advertisement. Want to apply directly? Please upload your CV and motivation letter by clicking the ‘Apply’ button.