Head of Model Validation, Wholesale Credit Models and Model Risk Officer, Business Banking

Job ID: 30393 

Are you ready to lead a determined and high-performing team of talented and resilient model validators? We are now looking for a dedicated and experienced Head of Model Validation, Wholesale Credit Models (Non-retail) and Model Risk Officer, Business Banking to a permanent position. 

About our team

Welcome to Model Risk and Validation! As part of Group Risk, we are an independent second line of defense unit for model risk management, model validation and independent risk oversight across the Nordea Group. We carry out independent validation activities of all models used across Nordea. In addition, we safeguard and support prudent risk management including risk appetite framework, rule setting in the form of policies and controls and risk reporting.

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: 

• Overseeing and managing model risk across all models used by Business Banking (BB) including reviewing and approving models used by BB.
• Serve as the primary contact for Business Banking and Legal entities relevant for Business Banking . Advice and support Business Banking management and Business
• Area Risk Officer, Business Banking on model risk.
• Understanding the underlying risk drivers in Business Banking and alert the organization of emerging model risks that could have an impact on Business Banking.
• Ensure that expertise including regulatory overview within models used for Business Banking is maintained and developed in the validation unit.
• Develop and manage model validation for all Wholesale models used by Business Banking and Large Corporates & Institutions (LC&I).
• Manage and oversee regulatory engagement for Wholesale Credit IRB and IFRS 9 models.
• Contribute to the Unit leadership together with other leaders in Model Risk and Validation team.
• Guide the team in managing and mitigating issues identified by the authorities or the Group Internal Audit
• Communicate effectively and accurately, representing the unit and the Group with all stakeholders, including authorities and internal and external auditors.
• Support and collaborate with relevant model owners and effectively liaise with leaders throughout the Group

The role is based either in Denmark, Finland or Sweden. 

Who you are

We are looking for a results-driven leader with:

• Technical knowledge of validation of wholesale credit models for IRB, IFRS9 and Pricing
• Deep knowledge of Business Banking customers, products and business processes in Business Banking and LC&I.
• A Master’s degree or PhD in Finance, Mathematics, Economics, Statistics, Actuarial Science, Engineering or a relevant related field is preferred but not mandatory.
• Solid planning, project and process management skills with a strong track record of concrete deliveries
• Leadership experience with an ability to attract, develop and retain talents as well as provide guidance in the daily work, including supporting the team in challenging the model owners and leveraging the team’s technical skills to address business issues and fulfil financial objectives. Experience in leading technical experts is an advantage.
• Excellent stakeholder management and networking skills with an ability to drive the agenda of the unit in a large complex financial institutio
• Solid planning, project and process management skills with a strong track record of concrete deliverie
• Outstanding communication skills, both in written and spoken English, with an ability to tailor wording depending on the audience
• High ethical standards with demonstrated integrity, tact and diplomacy

What we offer

People come here when 30393want 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 09/09/2025. For more information, you’re welcome to contact Anurag Chavan, at anurag.chavan@nordea.com.

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.