Internal Audit Manager, Model Risk

Nordea is a leading Nordic universal bank. We are helping our customers realise their dreams and aspirations – and we have done that for 200 years. We want to make a real difference for our customers and the communities where we operate – by being a strong and personal financial partner.

Job ID: 10821 
#GIA #modelrisk #modelvalidation #internalaudit
Would you like to learn and grow as you build your career with us? We are now looking for a new colleague, who will join the GIA Model Risk team as an Internal Audit Manager.
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 the GIA Model Risk team. We add value by supporting the Nordea Group Board and Group Executive Management in protecting the assets, reputation and sustainability of the largest bank in the Nordics. The Model Risk team within GIA is responsible for providing audit assurance over controls covering end-to-end model lifecycle, including model governance, model development, implementation, monitoring and independent model validation.
As Internal Audit Manager you’ll play a valuable role in auditing the key models, including credit risk (IRB), counterparty credit risk (IMM) and market risk models (IMA) in line with ECB expectations, evaluating whether Nordea is following these key regulations. In addition, you will need to develop good stakeholder and team relationships as part of this role and work in a strong and technical audit team within the GIA Risk, Compliance and Legal team. 

What you’ll be doing:
* Contributing to the execution of Group Internal Audit’s strategy  
* Performing audits assessing Nordea’s models, model governance, model risk management and validation  
* Contributing to the delivery of GIA’s project portfolio  
* Acting as Auditor in Charge in some audit projects  
* Contributing to continuous risk assessments to direct assurance activities towards the significant risk areas


You’ll join the Group Internal Audit. The role is based in Stockholm/Helsinki/Warsaw.
Group Internal Audit prioritizes use of technology to facilitate efficient, flexible working. This means that although you will work with colleagues around Nordics and Poland, travel is kept at family and environmentally friendly levels.

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:

* Have strong understanding of end-to-end model lifecycle (e.g. model development, implementation, validation, monitoring)  
* Have practical understanding of relevant regulatory environment, including model risk management best practices  
* Have strong collaborative skills and strong written and verbal communication skills, ability to communicate effectively with senior professionals  
* Have high ethical standards with demonstrated integrity, tact, and diplomacy 


Your experience and background:  

* Excellent knowledge and understanding of model development or model validation techniques covering (any combination): credit risk, market risk, pricing, stress testing funding or liquidity models
* Experience in managing stakeholders at multiple levels of seniority
* Experience in coding (Python or SAS) 
* University degree in a quantitative subject such as Math, Physics, Economics or Finance would be a strong advantage 
* Fluency in English 
* The ideal candidate has at least five, preferably more years of relevant working experience


If this sounds like you, get in touch!

Next steps

Submit your application no later than 28/10/2022. For more information, you’re welcome to contact Stefka Dabijeva.

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.