Counterparty Credit Risk Model Developer

Job ID: 3030

We are looking for dedicated and self-driven individuals to join our team as risk model developers for counterparty credit risk. We welcome applicants with a strong background in quantitative disciplines and hands-on experience in quantitative finance, counterparty credit risk and programming – typically 3+ years of experience.

Meet the Counterparty Credit Risk Models team. Our role is to develop risk models compliant with EU CRR legislation and internal governance – from interpreting external and internal framework, to sourcing and analysing market data to modelling and aggregation of risk measures.

Our team develops and maintains models that support robust decision-making and regulatory compliance.

Together with us, you will shape the future of risk modelling at Nordea.

Collaboration. Ownership. Passion. Courage. These are the values that guide us in how we work and how we make decisions – and that we imagine you share with us.  

What you’ll be doing

Main responsibilities in this role:

• Develop, refine, and performance-test risk models for counterparty credit risk. This includes theoretical, practical (implementation), and analytical work.
• Ensure risk models are compliant with relevant regulatory requirements, supporting Nordea’s commitment to robust risk management and regulatory standards.
• Design, develop, and maintain internal Python code libraries.
• Build tools for impact testing, data analysis, and data reconciliation.
• Partner with business and risk management functions to ensure economic risks are identified, managed, and reported.
• Shape Nordea’s future risk infrastructure in a fast-paced environment with high professional standards.

Who you are

This is the right role for you if you are:

• Taking ownership of your work and the team’s mission, delivering with quality and on time.
• Self-organized, able to work independently while integrating well with the team.
• Comfortable with technical documentation and presenting to diverse audiences.
• A team player with “can do” attitude, willing to cooperate across the whole organization.
• Curious, proactive, and committed to professional growth.

Your background and skills include:

• Academic degree in a relevant quantitative field (e.g. mathematical finance, econometrics, mathematics, statistics, physics, engineering).
• Solid programming experience (Python required; experience with other languages advantageous).
• Working knowledge of mathematical finance, derivatives pricing, and risk management within banking is ideal.
• Familiarity with regulatory frameworks is advantageous.
• Proven experience in risk modelling or related quantitative roles.
• Experience from counterparty credit risk (IMM or CVA) is a strong advantage.

What we offer

People come here when they want to get somewhere. For some, it’s to take their career to the next level. For others, it’s to break new ground within their area of expertise – in other words, with us, you will always move forward.

A culture that fosters performance and growth in one of the largest Nordic banks, offering various opportunities to evolve, develop and learn from brilliant colleagues with diverse backgrounds in a vibrant working environment.

Hybrid working model – we believe in the value of bringing people together and at the same time we embrace the freedom of flexibility.

Diversity and inclusion are a natural part of our daily work. We know that an inclusive workplace is a sustainable one. We genuinely believe that our diverse backgrounds, experiences, characteristics and traits make us stronger together. Every day we strive to find new ways to improve diversity and inclusion within our community e.g. we have signed the European Diversity Charters in the countries where we operate to show our commitment and engage with others to continue learning and improving.

If this sounds like you, get in touch!

Next steps

Submit your application no later than 16/02/2026.

For more information, you’re welcome to contact Johan Sandberg, Head of Counterparty Credit Risk Models at johan.sandberg@nordea.com.

We enable dreams and aspirations for a greater good.

We build relationships. We add a personal touch to everything we do – when advising our customers, collaborating with colleagues, and meeting our potential candidates.

We learn and develop. We take pride in being experts and thinking ahead. We use our expertise to meet our customers’ needs, from the simplest to the most complex. We bring a growth mindset to our work that enables us to focus on a broader perspective in our daily challenges.

We lead change. We are responsible and aware of the impact of our decisions, both for our customers and for our local and global communities. Mindful of our responsibility towards current and future generations, we have made sustainability an integrated part of our business strategy.

We are Nordea. We have a 200-year history of supporting and growing the Nordic economies and our values are deeply rooted in these open, progressive and collaborative societies. As one of the biggest employers in the Nordics, Poland and Estonia, you have excellent opportunities to evolve, develop and move forward with us.

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