Chapter Lead Model Risk Portfolio Management & Frameworks

Team description

The Chapter Lead (CL) within the Model Risk Portfolio Management & Frameworks team is pivotal in fostering both individual and team growth while ensuring the successful delivery of projects that enhance accountability and ownership of model risk within the 1st line of defence. This includes the challenge to change senior stakeholders behaviour. The MoRM department will have significant different activities due to the reduction in staff and operating model between 1st and 2nd line risk management as well as emerging risks or regulations (EU AI Act)

By balancing HR responsibilities with content expertise the CL manages performance cycles drives continuous improvement and cultivates a feedback-rich culture. The CL inspires and supports team members in their career development ensuring the right capacity and expertise are available for projects. Reporting directly to the Tribe Lead the CL also plays a crucial role in aligning team capabilities with project requirements and supporting overall team strategic longterm success.

Specific Function

Model Risk Management (MoRM) in a nutshell; Models are an imperfect reflection of reality. Models impact our business and we use models for decision making throughout ING. We need to manage uncertainties and shortcomings in our models as there are risks involved. Are we sure that the output leads to the right decision Models are a great asset but come with a risk that needs to be managed. The purpose of the Model Risk Management department is to ensure the models can add business value safely. Thats why weve created a cross-domain Model Risk Management Framework helping us identifying classifying recording and validating models we use across ING. For example Credit Market KYC Operational and Pricing models. Together with our stakeholders in e.g. Model Development and COO Risk we try to obtain the best models for ING.

Job description

We are looking for an energetic naturally collaborative and hands-on Chapter Lead to support the Head of Model Risk Portfolio Management & Frameworks within Model Risk Management.

Specific Tasks and Responsibilities

• Lead the Model Risk PM&F team coordinating framework control and portfolio management of model risk across the organisation.

• Oversee the MoRM framework policy house model risk management governance and controls including core methodologies such as risk appetite model classification and categorisation and control standards.

• Ensure overall coordination across the model risk lifecycle providing oversight on performance levels of the model owner community and guidance for senior management stakeholders challenging where necessary

• Manage and develop a team of medior-senior level Model Risk Specialists building skillsets and providing coaching and feedback on operations and stakeholder interaction.

• Drive consistency across modelling tribes in both 1st and 2nd line ensuring adherence to framework policy procedures and strategic ambition.

• Contribute to the tribes and departments strategy translating strategic priorities and roadmaps into executable chapter-specific plans.

• Perform model risk controls to ensure effective execution of the MoRM Framework including review and challenge of 1st Line of Defence controls.

• Develop stakeholder engagement by identifying needs supporting communication and guiding stakeholders through portfolio deficiencies and their root causes.

• Challenge model owners on their accountability for model risk and execution of 1st LoD controls across the model lifecycle.

• Define business requirements for MoRM Framework updates and propose them for iModel implementations.

• Coordinate aspects of model risk oversight in relation to AI bridging the gap between AI and GenAI (executed by AI Risk CoE) and own the AI Risk Policy AI Risk Framework and AI Control Standards.

• Set and continuously evaluate the level of Model Risk and the Risk Appetite for the organisation.

• Write train on and evaluate the model risk management framework and governance ensuring effective 2nd Line of Defence oversight and challenge.

• Ensure effective communication with external parties including the ECB and local national banks.

Specific Knowledge and Experience

• Strong understanding of modelling techniques or quantitative background their applications and associated risks. Including knowledge on governance formal approach and interaction with regulator. Knowledge of relevant regulations and ethical guidelines.

• Strong communication skills with the ability to explain complex concepts to technical and non-technical audiences.

• Demonstrated track record of leading end to end high-impact modelling framework and governance initiatives/projects and change management.

Reporting Line and Classification

Chapter Lead MRPM&F reports hierarchically to Head of MRPM&F located in Amsterdam This position is classified as: GJA 20 JG 14 Job Title: Lead Model Risk IV Job Family Group: Model Risk Management Job Family: Risk Management