Model Risk Intern

Position: Model Risk Management Intern

Join ING's Model Risk Management Department as an intern and gain valuable experience in the dynamic field of model risk management. As an intern, you will have the opportunity to work with a diverse and energetic team of highly qualified professionals, contributing to the validation and improvement of risk models used across ING.

About the Model Risk Management Department:

The Model Risk Management Department plays a vital role in safeguarding the quality and reliability of models used throughout ING. Models are critical for decision-making processes across various risk domains. The department's mission is to ensure that these models are fit for purpose, comply with regulations, and provide accurate insights for effective risk management.

The department is composed of five different tribes. The Model Risk Oversight (MRO) tribe is responsible for the design and implementation of ING’s global Model Risk Management (MoRM) framework and tooling which scope covers all models used within ING Bank worldwide. Our mission is to ensure our organization effectively controls, monitoring, and reporting on model risk, employing a consistent and comprehensive approach across model life cycle.

What you’ll do:

1. Contribute to Model Risk portfolio management and framework:

• Assist in reviewing the model risk management policies and procedures
• Assist in the oversight of the implementation of the Model Risk Management framework for all modelling domains
• Support in operational activities related to the model inventory and data maintenance
• Support in strategic projects

2. Collaborate with Cross-functional Teams:

• Engage in discussions with model owners, developers and other stakeholders to understand the model risk management requirements.
• Collaborate with professionals in your tribe and cooperate towards a common goal.

3. Stay Informed and Learn:

• Stay up to date with industry best practices, regulatory requirements, and emerging trends in model risk management.
• Actively participate in training sessions, knowledge-sharing activities, and workshops organized within the department.

Who are we looking for?

We are looking for enthusiastic colleagues who enjoy performing quantitative analyses, writing & defending high quality validation reports, and have an intrinsic curiosity to continuously expand their knowledge. In particular, as a member of our team, you are:

• Available for 36 hours per week
• Enrolled in a Dutch university for the entire duration of the internship.
• Currently pursuing a master's degree in a quantitative field, such as Econometrics, Mathematics, Physics, or a related discipline.
• Equipped with strong analytical and problem-solving skills, demonstrating a keen interest in quantitative analysis and modeling.
• Comfortable with programming languages such as Python, R, or SAS, enabling you to handle data and conduct analyses efficiently.
• Possessing a good understanding of statistical concepts and quantitative methods, providing a solid foundation for risk modeling.
• Exhibiting excellent written and verbal communication skills in English
• Proactive with the ability to work independently and collaborating effectively within a team environment.

Why join us?

• Gain hands-on experience in model risk management and validation within a leading global bank.
• Work alongside experienced professionals and learn from their expertise in various risk domains.
• Contribute to the ongoing improvement and enhancement of risk models across ING.
• Explore a wide range of models and risk areas, expanding your knowledge and skill set.
• Embrace a culture of innovation, continuous learning, and professional development.

Next steps

Excited to join our Model Risk Management Department's mission and gaining practical experience in the field of model risk management? Apply today! and help us shape the future of risk management in the banking industry.

In our selection process, we aim to get to know you better and understand your ambition. Share your CV and a cover letter where you let us know which model risk tribes you want to join. Please note that the Banking Book Tribe is currently not hiring interns. Are you applying for a thesis intern position? Let us know your research topic in your cover letter!

If your application resonates with us, we like to welcome you to our office for a paper MCP test and two rounds of interviews. We’ll test your knowledge on basic math, statistics, and programming in the test and the first interview. In the last interview, we like to understand a bit better who you are beyond your resume. Eager to grow, challenge, and be challenged? Then we like to see your application!