Risk Model Developer (Credit Risk) (permanent position)
Would you like to take a central role in shaping Nordea’s credit risk modelling landscape and add real business value for Nordea? Then this opportunity is for you.
We are looking for several Credit Risk Modelers of varying levels of seniority to join our credit modelling functions and drive the design, enhancement, and implementation of credit risk models across the organisation. 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 Risk Models team. Our role is to develop and maintain models under IRB, IFRS9 and Credit Risk Stress Testing. We strive to develop models that help business in their decisions and comply with relevant regulatory environment across multiple countries.
Our team adds value by accurately estimating the risk parameters for Nordea’s customers. As a (Senior/Lead) Quantitative Risk Analyst you will play a valuable role in developing, maintaining and using models which accurately estimate Nordea customers’ credit risk.
Given the nature of our data and regulatory requirements, we use advanced modelling techniques and big data technology. 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.
- (Senior/Lead level) Lead or drive projects within the Risk Models, especially those related to IRB/IFRS9 models.
- Present & justify analyses, results, and their implications to stakeholders, either through periodic activities or through ad-hoc requests.
- Collaborate with cross-functional teams within Risk Models or across Nordea.
- (Lead level) Provide technical guidance, review the work of other modellers, 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. Our working language is English.
The role is based in Helsinki, Stockholm, Oslo, Copenhagen or Warsaw. Flexible working conditions with respect to working from premises / from home apply according to the Nordea rules of working at least 60% from the office.
Who you are
This is the right role for you if you are:
- Curious, enjoy learning and are excited about brining your ideas to the table.
- 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.
- Are keen to find solutions and not only raise concerns.
- Able to think big picture but know that the devil is in the details. You are good at judging which details require extra attention.
- Committed to deliver high-quality work.
Your background and skills include:
- Academic degree in a relevant quantitative field (e.g. mathematical finance, econometrics, mathematics, statistics, physics, engineering).
- 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.
- Experience with large volumes of data and programming. We use mainly Python / SQL.
- (Senior/Lead level) Solid understanding of regulatory requirements related to IRB, IFRS9 and stress testing.
- (Senior/Lead level) Prior experience in credit risk, IRB, IFRS9 and stress testing is required.
