Senior/Lead Model Risk Analyst

Helsinki, FI, 500 København S, DK, 2300 Stockholm, SE, 111 46

Job ID: 21408

Would you like to be a part of a team with experienced and talented colleagues, and apply cutting-edge techniques to support establish an active management of model risk through rigorous validation activities? We are looking for a Senior Model Risk Analyst to strengthen our validation processes for Nordea's insurance business. At Nordea, we’re committed to being a partner our customers and society can count on. Compliance and integrity go hand in hand. Joining us means you’ll have an impact on how we do banking – today and tomorrow. So bring your ideas, skills and unique background. With us, you’ll be in good company with plenty of opportunities to collaborate, grow and make your mark on something bigger. About this opportunity Welcome to Model Risk and Validation. We add value by conducting independent model validation activities intended to verify the soundness of Nordea’s models used in the insurance business. As the Senior Model Risk Analyst, you will play a key role in ensuring that models are conceptually sound, mathematically correct and appropriate for intended business use. What you’ll be doing:

• Validate models in the insurance business to verify that models function well and reflect economic and business realities
• Ensure that models and model validation activities meet regulatory requirements
• Help ensure robust management of Nordea's model risk
• Use your technical skills to apply and develop validation techniques for further improvements in our approaches
• Collaborate and challenge model owners as well as developers on design and implementation of models
• Work with highly engaged colleagues in Nordea Group Risk Management
• Collaborate with colleagues across the Nordea Group in reporting validation outcomes to senior management

You’ll join a team of experienced model risk experts, all with a strong mathematical background. The team is highly specialised and work in close collaboration with specialists across the Group. The role is based in Helsinki; Copenhagen; Stockholm. Who you are Collaboration. Ownership. Passion. Courage. These are the values that guide us in being at our best – and that we imagine you share with us.

To succeed in this role, we believe that you:

• Engage in a productive collaboration with model stakeholders
• Are a team player and also master working independently
• Are self-driven with ambition to deliver timely and high quality analysis
• Have an eye for detail, yet able to focus on the big picture
• Are innovative and thrive on challenging multidisciplinary tasks
• Have excellent skills in spoken and written communication in English as well as in scientific writing

Your experience and background:

• Academic degree – preferably at PhD level or equivalent – in a quantitative field, such as finance, economics, mathematics, statistics, physics or similar from a high quality academic institution
• Knowledge of SII legislation
• Knowledge of Nordic insurance business
• Strong analytical skills and knowledge of actuarial techniques
• Solid experience in some of the programming languages Visual Basic or C# but experience in other programming languages is also valuable
• Communication skills in Scandinavian languages or Finnish

If this sounds like you, get in touch!

Next steps Submit your application no later than 16/05/2024. For more information, you’re welcome to contact Laura Nuccio ([email protected]). At Nordea, we know that an inclusive workplace is a sustainable workplace. We deeply believe that our diverse backgrounds, experiences, characteristics and traits make us better at serving customers and communities. So please come as you are.

Please be aware that any applications or CVs coming through email or direct messages will not be accepted or considered.

For candidates in Sweden only - For union information, please contact [email protected] or [email protected].

Only for candidates in Finland: A security clearance will be performed for the person selected for this position.