Director, Model Risk Management

Risk | U.S. Model Risk Management | Model Risk Management Lead, Director | NYC

About ING:

In the Americas, ING’s Wholesale Banking division offers a broad range of innovative financial products and services to domestic and international corporate and institutional clients.

When you come to work at ING, you’re joining a team where individuality isn’t just accepted, it’s encouraged. We’ve built a culture that’s fun, friendly and supportive – it’s the kind of place where you can be yourself and make the most of whatever you have to offer.

We give people the freedom to take risks, think differently, take ownership of their work, and make great things happen. We’re here to help you get ahead. And with our global network, there’s plenty of scope to take your career in new directions, perhaps even ones you’ve never considered. ING Americas follows a hybrid work model, allowing for in-office / work-from-home flexibility. Hybrid work arrangements vary based on business areas.

Sound like the kind of place you’d feel at home? We’d love to hear from you!

About the department:

U.S. MoRM is a department within the U.S. Chief Risk Office (CRO) domain and is responsible for the implementation of ING’s global MoRM framework and tooling whose scope covers all models used within ING Americas. The department oversees, monitors, and reports on model risks. The Model Risk Management Lead will report to the U.S. Head of MoRM.

Key stakeholders for the MoRM Lead include a wide range of global cross-function groups (business units, risk functions, etc.) as all models are within the scope of the Model Risk Management framework.

Responsibilities:

• Support the U.S. MoRM function in New York to ensure (i) models are fit-for-purpose for regional use, and (ii) compliant with all relevant U.S. and EU ECB regulatory expectations.
• Independent, pro-active, strategic partner on ING’s model landscape.
• Develop future-proof model strategies for all models within ING Americas. You influence and drive the long-term cross-border vision, strategy, and policies for MoRM Oversight holistically.
• Contribute to the overarching strategy of the MoRM domain and translate that into the U.S. MoRM agenda.
• Become a strategic partner to (i) ING Americas’ businesses and support functions and provide advisory to ensure sufficient 1st Model Line of Defense controls throughout the model life cycle, and (ii) Head Office’s Model Validation Center of Excellence to ensure validation activities are commensurate with ING America’s business and regulatory requirements.
• Own and maintain ING Americas model inventory within model risk management’s tooling (iModel). Conduct the regional model inventory attestation process.
• Keep abreast of relevant external developments, best practices and regulations and translate those to tangible actions.
• Facilitate a regional MoRM committee and actively participate / present model risk matters in relevant ING forums.

Qualifications and Competencies:

ING is looking for an inspiring Model Risk leader with experience in banking and deep expertise in effective risk management.  As a MoRM Lead, you’ll take a holistic perspective to further shape the future of MoRM.

• Have significant experience in first and / or second line risk management, and strong understanding of effective model life cycle.
• Have strong experience working with or in model validation teams and a pragmatic understanding of what effective model validation is.
• Bring 10+ Years of experience in wholesale banking with proven capabilities of influencing and working with (multicultural) teams in a rapidly changing and regulatory-driven environment.
• Have significant U.S. regional experience and so strong understanding of the U.S. regulatory landscape and expectations.
• Well structured, autonomous, highly adaptive and team player.
• Bachelor’s degree in finance, economics, mathematics, or related field.
• Ability to handle conflict management and be decisive in promoting a solid model risk culture.
• Demonstrate a high level of self-awareness.
• Strong ability to translate analytics into strategic insights and actionable recommendations.
• Excellent communication skills, including the ability to explain complex concepts to senior management and regulators.

Salary Range $217,000-$273,000

In addition to comprehensive health benefits, a generous 401k savings plan, and competitive PTO, ING provides a broad array of benefits including adoption, surrogacy, and fertility services; student debt assistance; and subsidies for expenses associated with commuting and fitness.

ING is a committed equal opportunity employer. We welcome applicants of diverse backgrounds and hire without regard to race, gender, religion, national origin, citizenship, disability, age, sexual orientation, or any other characteristic protected by law. We celebrate these differences and rely upon your unique perspective to innovate and seize new opportunities. Come as you are.

ING Bank does not have a commercial banking license in the U.S. and therefore not permitted to conduct a commercial banking business in the U.S. Through its wholly owned subsidiary ING Financial Services LLC, and its affiliates, it offers a full array of wholesale products such as commercial lending and a full range of FM products and services.