Team Lead Model Validation - Amsterdam
- Amsterdam, Noord-Holland, Netherlands
- Permanent, Full time
- ABN AMRO Bank
- 17 Feb 19
Team Lead Model Validation - 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 amongst others 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 Risk Management department acts as a sounding board and expert advisory role for the entire bank for any matters related to model risk and model risk management. The department consists of a team that enables and facilitates Model Risk Management framework as well as four teams responsible for validating models according to their area of expertise including but not limited to Credit Risk, ALM, Market Risk and models used for valuation of financial derivatives, as well as a team that is responsible for new models and complex projects. These Model Validation teams are 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. For the Credit Risk Model Validation team and for the Innovations & Projects team (responsible for validating new models and complex projects) we are looking for experienced managers in the field of model risk and model validation. Are you a people manager who can motivate and challenge people both inside and outside of the team? Do you enjoy working in a dynamic environment with a broad field of senior stakeholders? As a Team Lead, you make a significant contribution to the continues improvement of the efficiency and quality of appropriate validation. You manage a team of model validators and ensure that the team continuously develops the technical expertise required to efficiently perform model validations of high quality. In ABN AMRO, you will continuously engage with the business and other relevant departments while sharing your knowledge and expertise. Are you the Team Lead that can set goals and manage the team to achieve these? Apply for the role and tell us your story!
You create a professional environment within which the model validator can perform their second-line quant tasks in an efficient and effective manner, among other things by facilitating knowledge sharing, by organizing team meetings, and by providing validators with opportunities for continuous learning-on-the-job. Ensuring that validations of high quality are performed by the team is key. This is achieved among other things by coaching the model validators on various aspects of validation work, by offering them a critical discussion of their work (sparring partner function), as well as by reviewing their validation report drafts when required. Furthermore, you ensure an active contribution to the validation governance and related processes.You represent the department internally within the bank, as well as to external parties outside the bank if and when required. By being a member of the risk committee mandated to approve models, you can act as a delegate of the Head of Model Risk Management. In addition, you are a permanent member of the Management Team (MT) of Model Risk Management and maintains contacts with the main stakeholder departments.
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.
- Excellent academic qualification in a quantitative discipline (at minimum at Master level, but preferably at PhD level in a related field, e.g. (applied) mathematics, (theoretical) physics, econometrics).
- More than 10 years of relevant work experience preferably in a quantitative role in the financial industry.
- Excellent knowledge of financial risk measurement and management methodologies.
- Excellent knowledge of regulatory framework.
- Excellent knowledge and experience with mathematical finance, statistics and econometrics.
- Excellent knowledge of financial markets & products.
- Experience managing people and teams (preferred)
- Excellent communication and influencing skills to a wide range of senior stakeholders
- Full business proficiency in English.
What we offer
- 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