Model Risk Auditor
- Den Helder, Noord-Holland, Netherlands
- Permanent, Full time
- 22 Jan 18 2018-01-22
Model Risk Auditor
Adequate internal model development, independent model validation and effective monitoring are integral components of model risk management in today's highly regulated financial environment. Within ING we share a strong sense of responsibility for improving the effectiveness of processes that control the risks we are facing as a financial institution. Ultimately, this protects the interests of ING's external clients.
Corporate Audit Services (CAS) conducts and coordinates audits within the area of Model Risk Management. The Model Risk Auditor will be part of a dedicated Model Risk team, which will support the various audit teams across the world on effectively assessing the components of the model life cycle (design, development, validation, implementation, monitoring) for both regulatory and non-regulatory models.
As a Model Risk Auditor you will be assessing dedicated models as well as covering model risks during product and risk management audits, together with a team of auditors and risk specialists. Your audit procedures will consist of well-known validation and test techniques for both regulatory (e.g. AIRB, VAR/Expected Shortfall, IMM) as non-regulatory models (amongst others application, Pricing/Valuation, IFRS models, Machine Learning/AI). Audit findings are reported including suggestions for improvement and concrete recommendations, and presented to senior management.
Your counterparts in the ING organisation are working in the front office, model development, customer intelligence, risk measurement and model validation departments. In cooperation, you will challenge them towards developing to industry best practice and new modelling techniques. In addition, you will support developing more data and analytics driven audits together with the auditors.
Your work environment
As a Model Risk Auditor you will be part of the Model Risk audit team. This team is part of the CAS Audit Division Risk & Finance. CAS is a highly professional organisation with approximately 20 audit teams across the globe and comprises a diverse international team of around 300 members. Together with your CAS colleagues, you have worldwide coverage on Risk related audits. International audits are performed as a joint effort between local representatives and (central) risk specialists. Working at CAS that you will be operating at the very heart of the ING organisation. This also means that your work has the interest of regulators, external accountants and executive management.
Focus on development and growth
At ING we realise that qualitative growth means that we always have to have the best people in the best positions. That's why we will invest in your personal growth and development. Within CAS (Risk) this is even more important, in order to stay closely connected to the rapidly changing internal and external environment. We will ensure that you are always up-to-date on the key developments in your area of attention, which allows you to continue improving your performance.
Interesting employee benefits package
This is a full-time position of 36 or 40 hours a week. ING Bank offers an attractive employee benefits package with excellent secondary labour conditions, that more than meet market conditions:
- Job grade 11
- a 13th month's salary
- 27 days holiday
- an annual public transport pass (OV-jaarkaart)
- several other advantages as can be read in the banking CLA.
Strong analytical and communicative skills
A successful candidate should have strong analytical skills and the ability to challenge and improve models used within ING. Good communication and presentation skills are strong requirements. The candidate should have a pro-active attitude and a creative mindset. Experience in risk management and or front office is a prerequisite. The ideal candidate will have experience in both development and validation. You are accurate and describe yourself as a team player who is very capable of working in international teams, as well as independently when the task at hand requires. Awareness of risk processes and infrastructure and a strong understanding of risk regulations as well as risk measurement, including regulatory/economic capital calculations is key.
- have an academic degree and are preferably in the possession of a certification in Risk Management or in Internal Control / Administrative Organisation.
- have beyond 8 years relevant work experience in risk measurement/modelling within a major bank or financial institution.
- are fluent in English (fluency in other languages is much appreciated).
- a university degree (MSc or PhD) in economics, econometrics, mathematics, physics or engineering.
- keen interest in many aspects of financial risk management.
- are organisationally sensitive and effective in conflict management.
- have proven communication, convincing and advisory skills with the ability to work at all levels in the organisation.
- are persuasive; being able to 'get people on board' and ensure necessary buy-in from stakeholders.
- are willing to travel 6-10 weeks per year.
Do you have any question about the position of Model Risk Auditor at ING's Corporate Audit Services? Please, feel free to contact Ben Boothe (+31610420013). In case you directly would you like to apply for the function, please click on the button below