Climate Risk Senior Quantitative Analyst

Helsinki, FI, 500 Stockholm, SE, 111 46 København S, DK, 2300 Oslo, NO, 0368 Warszawa, PL, 02-460

Job ID: 24731 


We are looking for a Senior Quantitative Analyst to join a high performing unit that is recognized for its professionalism, competence, and capacity. The job provides a chance to work with highly skilled professionals on an exciting mix of tasks pertaining to the implementation of ESG risk drivers across the risk management framework of the largest bank in the Nordics.

At Nordea, we’re committed to being a partner our customers and society can count on. Compliance and integrity go hand in hand. Joining us means you’ll have an impact on how we do banking – today and tomorrow. So bring your ideas, skills and unique background. With us, you’ll be in good company with plenty of opportunities to collaborate, grow and make your mark on something bigger.


About this opportunity
 

Welcome to the Climate & Environmental Risks task force within the Risk Models Department! The task force is part of the Risk Model Governance and Control team. We accompany the ambitious development plan for the risk models at Nordea, identifying the appropriate transmission mechanisms of climate risk and ensuring that the appropriate drivers are incorporated into the models where relevant. We act as subject matter experts on current and future IRB-related regulation and ESG risks, we ensure that we develop and maintain strong and regulatory compliant governance and control framework.

 

On behalf of the Group, the Risk Model Governance and Control team is leading the workstream responsible for integrating ESG risks across Nordea’s risk regulatory framework and is looking for candidates to assist the initiative. The task force is also responsible for the coordination and support of other ESG activities within Nordea and communication with banking supervisors (ECB, Nordics FSAs) on climate-related topics for internal models


What you’ll be doing:

  • Act as an expert of climate and environmental risks and IRB models.
  • Scan for ESG regulatory developments (EU and Nordic) and assess their impact on Nordea’s risk models.
  • Support the incorporation of ESG risk drivers in Nordea’s risk models' landscape.
  • Quantitative data analyses i.e. financial impact of model and data changes, and investigation of impact on models from changes in processes and data.
  • Design, develop and maintain internal code libraries, in Python.
  • Help coordinate Nordea’s supervisory liaisons related to ESG risks in Nordea’s risk models.
  • Help develop and maintain a strong governance framework, including working with policies, controls, issue management, documentation management.
  • Support Group requests in interpretation of the ESG regulatory expectations.
  • Contribute to the team’s development.

 

In this role, you will be involved in key aspects of the bank’s risk modelling approach. You will be exposed and expected to contribute to several types of models, from market risk models to IFRS 9, from stress test to IRB. Depending on business needs and your level of experience, you may be asked to: explore the latest advancements in the climate risk modelling literature, develop credit risk models and support the integration of climate risk drivers in Nordea’s models, define ESG data requirements and identify ESG transmission mechanisms, contribute to working groups with peer banks, advise on the interpretation of a regulatory expectation.


The role can be located in Helsinki; Copenhagen; Oslo; Stockholm; Warszawa. You will be part of a team of dedicated professionals in a fast-paced, international environment.

Who you are

Collaboration. Ownership. Passion. Courage. These are the values that guide us in being at our best – and that we imagine you share with us.  

To succeed in this role, we believe that you:

  • Are structured, analytical, and self-driven.
  • Thrive in an ever-learning environment.
  • Have a sound understanding of statistical modelling techniques.
  • Have great at managing stakeholder relations.
  • Possess a proactive, get-things-done attitude.
  • Can work independently and secure deliveries.
  • Are an excellent writer.


And that you: 

  • Love to think in terms of the ‘big picture’ yet have keen attention to detail.
  • Enjoy establishing and maintaining structured processes for the way we work and propose them “simple” and robust.
  • Thrive in a demanding environment that is constantly changing.
  • Are curious and creative. You possess a strong intuition with a sound theoretical basis, while being sufficiently hands-on and pragmatic to find working solutions.


Your experience and background: 

  • 5+ years of relevant work experience.
  • You have a degree (Master or PhD) in a relevant field, such as finance, econometrics, mathematics, statistics, physics, computer science or similar.
  • Extensive knowledge of ESG risk management.
  • Good knowledge of IRB models and climate risk (or other internal models).
  • Banking awareness & economics understanding.
  • You are experienced in software development and coding. The team develops mostly in Python, but experience in other languages is also acknowledged.
  • Previous experience with modelling the effects of climate change on the economy and its transmission mechanisms.
  • Working knowledge of a Scandinavian language or Finnish is an advantage, but not a requirement.


If this sounds like you, get in touch!

 

Next steps

Submit your application no later than 31/08/2024. For more information, you’re welcome to contact Benoit Roger.

At Nordea, we know that an inclusive workplace is a sustainable workplace. We deeply believe that our diverse backgrounds, experiences, characteristics and traits make us better at serving customers and communities. So please come as you are.

 

Please be aware that any applications or CVs coming through email or direct messages will not be accepted or considered.

 

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 finansforbundet@nordea.se or SACONordea@nordea.com.

 

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

 

We reserve the right to reply only to selected applications.

Department:  Credit and Risk management

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