Junior IFRS9 Credit Risk Modeller

  • Rabobank
  • Utrecht, Nederland
  • mrt 16, 2021
Fulltime Quantitative Finance Risk Management Banking

Job Description

Imagine…

That we’ll give you the opportunity to build and work with one of the most challenging models of the organisation, our IFRS9 provisioning models. The Corona-crisis has been pushing these models to its limit. Are you ready to put your skills to the test? As an IFRS9 Credit Risk Modeller you will build and maintain risk models that have a direct impact on bank business, its P&L and financial statement and thus on the strategy of the bank. We’ve got a challenge you can really sink your teeth into.

IFRS9

IFRS9 is accounting regulation that came into force the first of January 2018. It was initiated after the 2008 financial crisis in which losses were recognized ‘too little and too late’, meaning banks balances where not giving a fair reflection of the actual risks the banks had on their books.

IFRS9 requires banks to assess their expected losses with a point-in-time, forward-looking view in mind. The IFRS9 macro-economic models translate the current and future state of the economy into an expected loss figure for the bank. The importance of these models for the organisation are not to be underestimated, the figures produced by our models directly translate into the profit/loss & financial statements of the bank. As you can imagine, the current Corona-crisis is a first test for these new models and it is exciting to see them function under these circumstances. To support our stakeholders, Finance, Risk, FR&R, Internal & External Audit working with the model outcomes is intensive and very rewarding.

The IFRS9-team consists of +/- 25 highly skilled professional with differential international, educational and cultural backgrounds and as a collective we aim to support the organisation to best of our ability. Depending on your experience and skills, you will build, test, develop, run, maintain and report on IFRS9 model outcomes that support the bank’s ambitions and safeguard both the bank risk profile. You’ll work intensely with a variety of stakeholders, including Financial Recovery & Resolution, Finance, Risk Management and external regulators (like DNB/ECB and external auditors), IT, Data and more. You will work closely with colleagues and stakeholders to solve highly complex challenges and establish workable models and resulting figures that the bank can put into practice.

With each other

Collaboration is at the heart of everything we do. We bring teams of talented people together to develop the next generation of risk models that are both compliant and are able to drive our business forward. Group Credit Risk Models operates in an open atmosphere of collaboration and service. We know that no one can solve the complex challenges of risk modelling on her/his own. It takes a well-rounded team of experienced professionals who are willing to look beyond their own accomplishments and work together to achieve a common objective. Whether it’s safeguarding Rabobank’s €500 billion loans portfolio, or calculating provisions for a large multi-national client in distress, you will play a key role in processes that affect nearly every aspect of the bank’s business.

With you as a Risk Modeller, you will strike a balance between strong leadership and open collaboration, “No one can solve the complex issues of modelling alone. That’s why the team works closely together to contribute to the overall result. You won’t ever hear ‘that’s not my job’. Much more often, you’ll hear, ‘how can I help?’ Every member of the team contributes and working in this open atmosphere is really refreshing.” 

With you

If we were to ask your friends to describe you in a few key words, the answer would be: customer-focused, confident, and able to take on challenges with confidence, flexibility and with a cooperative attitude.

We’re searching for Credit Risk Modellers of all levels, but particularly at junior or mid level with a few years of preferable Credit Risk Modelling knowledge. Got what it takes to join our team? Then you will likely have: 

  • A master's degree in a quantitative field (econometrics, mathematics, physics, AI or similar)
  • A passion for using/developing models to solve complex problems
  • Familiarity with Python and Power BI would be of great value
  • Experience with other programming languages is a plus: if you speak Matlab, SQL, DataIku, you’ve got a head start. If you don’t, we’ll teach you
  • Experience and/or affinity for working with data 
  • It’s important to note that we are not just looking for top Risk Modellers who are great at modelling. You’ll also need to be a true team player, with excellent communication skills in English, the ability to take other (non-analyst’s) interests into consideration. Timing is always a factor in what we do, so you will need to be able to perform well under pressure, and manage your time effectively.
  • In addition to putting your modelling skills to the test, we’ll also ask you to contribute to the team dynamic in a positive way
  • Flexibility and adaptability are definitely expected

Growing a better world together

Rabobank is a financial services provider for 7.1 million customers in 40 countries. But did you know that we are also working to make the world a better place? We do so in countless ways, such as:

  • Actively protecting our clients by ensuring that the loans we are providing to our clients are sustainable and well within acceptable risk levels;
  • Working toward a new generation of risk models that not only fulfil regulatory requirements, but also allow us to expand our reach and support more people, communities and societies with affordable financing;
  • Safeguarding our investments in nature, culture, agriculture and development with risk models that sustain and advance the bank’s position.

Interested?

Do you want to become the ideal version of yourself? We would love to help you achieve this by focusing firmly on your growth, development, and investing in an environment where you keep learning every day. We give you the space to innovate and initiate. In this way, we offer you numerous opportunities to grow and help you exceed your expectations, to do the right thing exceptionally well, and to therefore grow as a professional. In addition, with us (on the basis of a 40 hour working week), you can expect:

  • A gross annual salary between €54k and €77k, depending on your experience.
  • A thirteenth month and holiday pay;
  • An Employee Benefit Budget of your gross monthly salary. You decide how to spend this budget. This may include purchasing extra leave days, or making extra pension contributions;
  • Flexible working times and location-independent working;
  • 100% reimbursement of commuting costs if you travel by public transport. Do you still prefer to travel by car or motorbike? Then choose a home/work travel allowance;
  • A pension scheme, to which your contribution is only 3,5%.

Let's meet

Are you the person we're looking for? Are you ready to join Rabobank as a Risk Modeller and to make a difference to yourself, our customers and to society? We look forward to receiving your application for this vacancy.

Good to know:

  • Rogier Wolff Corporate Recruiter, would be happy to answer any questions about the application procedure via Rogier.Wolff@rabobank.nl
  • The application process includes screening. Based on the screening procedures in place at Rabobank, we assess whether new staff are reliable enough to work at Rabobank.
  • The application process for this vacancy may include an individual assessment
  • Your privacy is important to us. Do you want to know more, click on this link
  • Everyone is different, and it is exactly those differences that help us become an even better bank. That's why we want to know who you really are!