Senior Quantitative Risk Analyst (Credit Risk), Real Estate PD Models

Job ID: 3502

Senior Quantitative Risk Analyst (Credit Risk) to Real Estate PD Models in IRB Models (permanent position)

Do you want to work at the intersection of advanced quantitative modelling, real estate risk and add real business value for Nordea? Then this opportunity is for you. 

We are looking for a Senior Quantitative Risk Analyst to join our Real Estate PD Models team. The team is responsible for developing, maintaining, and enhancing our Internal Rating-Based (IRB) probability of default models for Nordea’s Real Estate counterparties. A core area with high regulatory visibility and direct impact on capital risk appetite. The role combines advanced modelling, practical implementation of the models in our IT infrastructure and a sound understanding of banking. You need to enjoy working with large datasets, solve problems and find new and innovative solutions.

About our team

Meet the Real Estate PD team. Our role is to add value by accurately estimating the risk parameters for Nordea’s customers. At Nordea, we use internal models for calculating regulatory capital and these models are developed and maintained by Risk Models. As Senior Quantitative Risk Analyst, you’ll play a valuable role in making the data come together into new and structured insights. In addition to using leading techniques for modelling and data, the team’s role is general risk governance within credit risk modelling and methodology, including management of models, model implementation, data quality, documentation and model use.

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.  

Main responsibilities in this role:

• Work on a subset of model lifecycle related activities like: data pipeline, data quality work, development, documentation, implementation, maintenance, monitoring, requirement setting, and user acceptance tests within credit and impairment models.
• Contribute to methodological standards, modelling tools, coding practices, and continuous improvement of the modelling framework.
• Lead or drive projects within the IRB Models, and manage stakeholder relationships in the Risk, IT and Business organisations.
• Present & justify analyses, results, and their implications to stakeholders, either through periodic activities or through ad-hoc requests.
• Provide technical guidance, review the work of other modelers and support setting modelling strategy and priorities.
• Stay informed on regulatory developments and industry practices.

You’ll join an international team with a variety of backgrounds and skills. We work closely with other teams across the bank which provides you with excellent opportunities for personal and professional development. This is a role for someone who enjoys both building robust models and explaining why they matter. Our working language is English.

Who you are

This is the right role for you if are:

• Take ownership of the task but enjoy collaboration with others.
• Confident in advanced quantitative modelling and eager to challenge ideas constructively.
• Communicate complex statistical or methodological concepts clearly to both technical and non-technical audiences.
• Enjoy working with large datasets and navigate well in tools used to analyse them.
• Work well in a dynamic environment with varying workload.
• Have an analytical and problem-solving mindset
• Committed to deliver high-quality work.
• Are curious and proactive, focus on solutions rather than problems and share our enthusiasm for developing and learning and constantly improving your skills and competences.

Your background and skills include: 

• A Master’s or PhD in a quantitative field, for instance economics, engineering, business, mathematics, science, statistics, finance, or similar.
• Hands-on experience working with data & modelling and conducting complex data analysis in financial services.
• Experience with large volumes of data and programming. We use mainly Python / SQL.
• An energetic and service-minded personality with excellent collaboration skills.
• Have experience or strong interest in credit risk modelling, preferably PD and/or IRB models and solid understanding of the European regulation for IRB models.
• Knowledge of the real estate industry would be an advantage, but is not a prerequisite.
• A strong focus on results, deliveries and deadlines.

Seniority of the role and remuneration will depend on the level of the candidate’s experience in the relevant fields.

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 08/03/2026. For more information, you’re welcome to contact  Martin Amarquaye Quarcoo at martin.amarquaye.quarcoo@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.

Only for candidates in Sweden: For union information, please contact Finansförbundet at finansforbundet@nordea.se or SACO at SacoNordea@nordea.com.