Audit Supervisor - Specialist Model Risk (Market Risk domain)

Audit Supervisor - Specialist Model Risk (Market Risk domain)

The Corporate Audit Services (CAS) department performs operational audits in the area of Model Risk with a dedicated Models team.

As part of this team of specialists, an Audit Specialist for Market Risk plays an important role in providing assurance on Model Risk in the Market Risk domain with a worldwide coverage, while also involved in model risk in other risk domains.

The Team

You will be located in Amsterdam within the Model Risk audit team, working in hybrid mode between home and the office. International audits are performed as a joint effort between local audit teams and central model specialists. This team is part of the CAS Risk & Finance Division. CAS is a highly professional organization with audit teams across the globe and comprises a diverse international team of around 400 members. You will work in a positive working atmosphere where people are used to an open communication style. Education and training is highly supported and innovation is stimulated.

Roles and responsibilities

As an Audit Specialist you are globally responsible for performing audits and audit strategy on model related matters, and thereby adding value to the organization. Thorough understanding of model risk management and its regulatory environment, are key.

• You are involved in multiple (complex) audits at the same time, are leading these on model related content, and deliver key messages to auditees and senior management.
• In addition, stakeholder interaction and continuous learning is crucial to stay ahead.
• If required, you also act as Audit Lead.
• You apply well-known validation and test techniques for both regulatory (e.g. VaR, IRC, DRC, FRTB, IRRBB) and non-regulatory market risk models (e.g. pricing/valuation, XVA, FO engineering).
• Your main counterparts in the ING organization are working in model risk management, model development, model validation, model measurement, and analytics departments. You will challenge them towards developing industry best practices and new modelling techniques.

How to succeed

Strong verbal, writing, analytical and interpersonal skills help you to ask the right questions and get the right information. Good communication skills are also important when you have to overcome resistance first. You are accurate, diligent and describe yourself as a team player who is very capable of working in international teams, coaching individuals, sharing specialist knowledge and managing staff assignments.

Furthermore, you adhere to the ING values and it is evident for you that your behavior is fully aligned with these values. You are also prepared to take the Banker's Oath.

Skills required

Furthermore you:

• have an academic degree (MSc or PhD) in econometrics, mathematics, physics or other quantitative topic, and are preferably in the possession of certification in Quantitative Risk Management.
• preferably, have good programming skills in e.g. Python/ R / Matlab / SAS.
• are keen in exploring many aspects of financial modelling.
• have a minimum of 5 years experience of which at least 4 years of relevant work experience within a major bank, financial institution, consultancy firm or university.
• have (international) experience in complex organizations, a bird’s eye view and knowledge of ING’s business, risks, and associated model risk controls.
• are persuasive; being able to ‘get people on board’ and ensure necessary buy-in from stakeholders.
• (preferably) have a good understanding of internal audit processes, including identifying and evaluating key risks and process controls, setting the audit scope and developing audit testing.
• have proven communication, convincing and advisory skills with the ability to get buy-in from senior and executive stakeholders.
• are organizationally sensitive and effective in conflict management.
• are fluent in English (fluency in other languages is much appreciated).
• are willing to travel 3-6 weeks per year.

Rewards and benefits

This is a full-time position of 36 or 40 hours a week. ING Bank offers an attractive employee benefits package with excellent secondary labor conditions, that more than meet market conditions.

The benefits of working with us at ING include:

• A salary tailored to your qualities and experience
• 24-27 vacation days depending on contract
• Pension scheme
• 13th month salary
• Individual Savings Contribution (BIS), 3.5% of your gross annual salary
• 8% Holiday payment
• Personal growth and challenging work with endless possibilities
• An informal working environment with innovative colleagues
• Work Agile, so new ideas come to life faster

About us

With 60,000 employees and operations in approximately 40 countries, there is no shortage of opportunities for people with initiative who want to help people take a step ahead in life and in business. Do you want to work at the cutting edge of what’s possible and at the same time ensure you work with integrity and hold the customer’s interests at heart? Do you want to be surrounded by progressive, inspiring, diverse and supportive colleagues? Then there is no better place to invest your talents than at ING. Join us. Apply today.