Associate Model Validator - Amsterdam
At a glance
ABN AMRO is on the trend of greater use of models. Driven in part by regulation as well as through innovations, the growing reliance on models manifests in all areas of the bank. For risk management purposes ABN AMRO has models in place for a.o. credit risk, market risk, operational risk, and liquidity risk, covering the entire balance sheet of the bank. These models use market and client data to predict among others, the client behaviour and their risk profile based on the client characteristic, economy and market. Outside the risk management domain, model-based decision making becomes increasingly important and accepted. Models are also used for pricing, marketing, portfolio management, HR and in multiple other areas and innovative solutions. The Model Validation team is the main party challenging the quality of the models in ABN AMRO. As a result of the increase of the usage of models in the bank, our scope is continuously expanding. This increase requires also challenging models with new techniques, causing a stimulating and dynamic work environment.
Do you enjoy an analytic job which makes a difference in the organization? Do you seek for a challenging and dynamic job with the opportunity of steep learning? Join this team aimed to manage the Banks model risk in the best possible way. As an Associate Model Validator in ABN AMRO, you can become an expert in analysing and critically challenging several categories of risk models and get the understanding of the related risks. On the way, you will learn how to assess the quality of data; challenge state-of-the-art modelling techniques and/or checking the implementation and use of models.
What do you see when you envision the next step? Work on achieving your goals and develop yourself professionally and personally. Tell us your story. We want to hear it! Your job
As an Associate Model Validator of one of the four Validation teams (Innovation & Projects, Credit Risk Model Validation, ALM & Capital Model Validation, Valuation & Market Risk Model Validation) you are responsible for high quality validations. These validations contribute to identifying and mitigating the model risk at ABN AMRO in line with internal and external requirements and reflecting best market practices. You form an independent opinion on matters such as the mathematical consistency of the model, its suitability for its intended use, the accuracy of the model and its proposed implementation. The findings of the validation are presented in a validation report, which contains a recommendation towards the risk committee mandated to grant model approvals, as well as proposals for mitigating action in case model deficiencies have been identified. Your working environment
Model Validation operates independently of the model development departments at ABN AMRO to ensure the objectivity of the validation process. It covers the model risk dimensions of data, methodology, implementation and use. The outcome of the validation process affects every level of the organisation - from individual client acceptance to strategic decision making and steering.
The department consists of about 30 specialists in a very international and diverse environment. This diversity, in terms of cultural background, gender, academic and working experience creates an optimal blend. We value team players who are smart, persistent, take their role seriously and are committed to finish the job. Your profile
What we offer
- Master's degree in a quantitative discipline, e.g. (financial) mathematics, (theoretical) physics, econometrics or similar
- Basic understanding of (risk) modelling, (model) risk management and the use of models
- Basic knowledge of regulatory requirements regarding model risk management and (risk) modelling (preferred)
- Knowledge of a programming language such as Python, R, SAS ; knowledge of MS Office. (preferred)
- Strong analytical and problem solving skills
- Able to work independently
- Good communication skills
- Proactive attitude
- Able to meet deadlines while delivering high quality work
- Full business proficiency in English
International multi-cultural working environment
- Great colleagues
- Challenging work
- Unique opportunity to interact with multiple departments within the bank
- Flexible working hours
- Future career development
- Wide-range of training courses
- Competitive salary and excellent benefits
Are you interested? Please apply online. For more information you can contact Kevin Kuoch (firstname.lastname@example.org).
We look forward to meeting you.