(Senior) Analyst for ALM Model Validation

Job ID: 18768 

Would you like to be part of a team with experienced and talented colleagues and apply cutting-edge techniques to support establish an active management of model risk through rigorous validation activities? We are looking for a (Senior) Model Risk Analyst to strengthen our validation processes for Nordea's  models that are used for Asset and Liability Management (ALM), Life and pension, and operational risk.

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 Model Risk and Validation. We add value by conducting independent model validation activities intended to verify the soundness of Nordea’s models used for operational risk, Life and pension modelling, and ALM, e.g., Interest Rate Risk in the Banking Book (IRRBB)  and liquidity risk. As Senior Model Risk Analyst you will play a key role in ensuring that models are conceptually sound,  mathematically correct, and appropriate for intended business use.

What you’ll be doing:

• Help ensure robust management of Nordea's model risk

• Validate risk models – including models for non-traded market risk,  liquidity risk, operational risk, behavioural models for IRRBB, and life and pension models

• Ensure that models and model validation activities meet regulatory requirements and sophistication expectations

• Drive and participate in the validation of new and changed models

• Use your technical skills to apply and develop validation techniques to verify that models function well and reflect economic and business realities

• Collaborate with and challenge model owners as well as developers on design and implementation of models

• Work with highly engaged colleagues in Nordea Group Model Risk Management

• Collaborate with colleagues across the Nordea Group in reporting validation outcomes to senior management

You’ll join a team of experienced model risk experts, all with a strong mathematical background. The team is highly specialised and work in close collaboration with specialists across the Group. The role is based in Helsinki; Copenhagen; Stockholm; Warszawa.

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:

• Engage in a productive collaboration with model stakeholders

• Are a team player and also master working independently

• Are self-driven with ambition to deliver timely and high quality analysis

• Have an eye for detail, yet able to focus on the big picture

• Are innovative and thrive on challenging multidisciplinary tasks

• Have excellent skills in oral and written communication as well as in scientific writing

Your experience and background: 

• Academic degree in a quantitative field, such as finance, economics, mathematics, statistics, physics or similar from a high quality academic institution

• Full proficiency in applying econometric, mathematical and statistical models and techniques

• 3+ year experience in the financial sector working with risk models as developer, user or validator

• Knowledge of asset and liability management, with special focus on IRRBB and liquidity risk is an advantage, however specific expertise is not a requirement

• Knowledge of behavioral finance is an advantage, however specific expertise is not a requirement

• Strong analytical skills, and capable of applying multidisciplinary quantitative methods

• Solid experience in programming Python, MATLAB and SQL, but experience in other programming languages is also valuable

If this sounds like you, get in touch!

Next steps

Submit your application no later than 14/08/2024.

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 Sweden: For union information, please contact finansforbundet@nordea.se or SACONordea@nordea.com.

Only for candidates in Finland: A security clearance will be performed for the person selected for this position.

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.