Chapter Lead MV IRRBB & ICLAAP

Team description

The Chapter Lead MV IRRBB & ICLAAP is responsible for leading model validation and model risk management activities across several key regulatory financial risk model domains i.e. Interest Rate Risk in the Banking Book (IRRBB) and Internal Capital & Liquidity Adequacy Assessment Process (ICLAAP). The Chapter Lead manages/leads a high-value specialist team of model validators facing increasing strategic challenges driving quality efficiency and effective stakeholder relationships in a rapidly evolving regulatory environment.

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 that models drive business value safely. Thats why weve 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.

Job description

We are looking for an energetic naturally collaborative and hands-on Chapter Lead IRRBB & ICLAAP to support the Area Lead Banking Risk within Model Validation Financial Risk.

Specific Tasks and Responsibilities

• Lead a team of high-value specialist and fungible model validators (across the Banking Book area) facing strategic challenges and driving a culture of accountability among 1st line stakeholders for model risk and deliverables.

• Oversee and contribute to model validation and model risk activities for two portfolios of financial risk models covering complex specialist regulatory risk domains.

• Ensure the content quality efficiency effectiveness and stakeholder relationships for all validation activities both internally and externally including continuous improvements and strategic changes within the chapter.

• Develop and implement risk-based validation frameworks for all models within the regulatory domains in scope ensuring compliance with evolving external regulations and internal policies.

• Contribute to the broader Area MV Financial Risk and Model Risk Management strategy translating it into actionable plans and roadmaps for the chapter.

• Recruit manage and develop a team of 813 model validators ensuring fungibility across the Areas scope and fostering a culture of learning feedback and diversity.

• Deliver timely high-quality risk-based model validations in line with regulations policies and business requirements and present validation reports to model approval committees and fora.

• Perform holistic model risk activities such as thematic reviews root cause analyses etc and provide independent advice to stakeholders.

• Develop innovative validation frameworks and automate periodic validations to manage increasing validation backlogs with fewer resources.

• Lead and manage performance cycles ensuring team wellbeing diversity and inclusion and supporting cross-chapter and cross-location collaboration.

• Build and maintain constructive stakeholder relationships aligning on planning and ensuring effective communication with internal and external parties including regulators and auditors.

• Contribute to or lead broader change initiatives that require cross-tribe collaboration challenging the status quo and driving improvements.

Specific Knowledge and Experience

• University masters degree or PhD with a strong quantitative focus (e.g. Econometrics Mathematics Physics Statistics).

• Extensive experience (10 years) in financial risk modelling model validation and/or model risk management within banking and/or trading domains (1st & 2nd line of defense).

• Deep technical & regulatory expertise (e.g. quantitative modelling risk management regulations business) with ability to present & explain to a less technical audience.

• Planning organizing & executing multiple simultaneous validation projects in line with (to be developed/evolving) risk-based model validation frameworks in a changing environment.

• Proven track record in managing leading and developing highly quantitative teams.

• Strong people development & leadership skills with a learning/growth mindset.

• Experience with identifying contributing to & translating strategy & regulatory developments into chapter improvements/deliverables (e.g. way-of-working validation frameworks other improvements etc).

• Good stakeholder management & communication skills flexible in approach while balancing internal priorities & regulatory expectations thereby remaining critical independent & keeping ground where needed.

Reporting Line and Classification

Chapter Lead MV IRRBB & ICLAAP reports hierarchically to Area Lead MV Banking Book Risks located in Amsterdam. You will be part of the leadership team of the MV FR tribe contributing to strategy and driving its execution.

This position is classified as: GJA 20 JG 14 Job Title: Lead Model Risk IV Job Family Group: Model Risk Management Job Family: Risk Management.