Model Risk Steward

Model Risk Steward  

Is the Rabobank capable of surviving another global financial crisis or impact of climate changes? What risks do we face in case of such an event, what losses can we expect and what happens to the bank’s capital position? As a Model Risk Steward in the Model Risk Governance team, you will make an impact by helping the bank answering these questions.

You and your job
A modern bank uses many mathematical models across its portfolio of products and operations. However, if such models are wrong or used incorrectly, then the bank is exposed to a serious type of risk called “model risk”. Some very large banks in the world suffered tremendous financial and reputational losses due to model risks. Hence, high quality models are of vital importance. As a

Model Risk Steward you can truly make a difference by contributing towards high quality models and protect Rabobank and its clients from model risks by ensuring awareness, oversight and adequate governance. You will work with teams from a specific model type such as Credit, ALM or compliance, but as part of the Model Risk Governance team also have an unique overview of the bank as a whole.

Practical Examples  

• You, together with the rest of the team, guide, support and advise our stakeholders on a wide variety of model risks related topics. You have daily interaction with model developers, model owners, model validators and authorities in the bank, where you observe, challenge, and asking critical questions to help the bank forward.
• You keep oversight that the Model Risk Management Framework (MRMF) is adhered to and is functioning as intended, both managing risk while supporting business innovation.
• You act as an ambassador of the MRMF, by providing training, being a guide and sparring partner to empower the organization while embedding MRMF in processes and systems.
• We understand it takes time to master model risk expertise, that is why you will team-up with more senior members in MRG to learn as you go while working on practical cases.  So, this position is ideal for an enthusiastic intelligent person who wants to become a model risk expert and enjoys interaction with different stakeholders.

Facts & Figures

• 36 or 40 hours per week
• 9.1 million customers in 40 countries
• Approximately 43,822 Rabobank colleagues around the world

 

Top 3 responsibilities

• Your journey is our journey, you develop yourself the best possible way. Your team will guide you in this process!
• Research industry best practices and regulatory expectations (e.g., on topics such as machine learning, GDPR, ESG, fairness, ethics and bias), to help ensure that Rabobank’s model risk management continues to be aligned with best practices.
• Help to coordinate and integrate Rabobank’s model risk management activities in an international environment, as Rabobank needs to manage model risk in all its entities across the globe and in line with industry and regulatory expectations in all world regions.

Together we achieve more than alone
We believe in the power of difference. Bringing together people's differences is what makes us an even better bank. So we are very curious about what you can bring to our Model Risk Governance team.

“It gives me a lot of energy performing an oversight role that gives me the opportunity to be engaged in a great variety of lively and highly impacting discussions with many colleagues from different levels and parts of the organisation. This job gives me great opportunity to have major impact and add value in creating the governance of our Model Risk Management Framework that is beneficial to all.”

Daniël van den Brand, senior model risk manager

You will be part of a very dynamic and international team with highly motivated team members. We have an open atmosphere in which you can freely share new ideas and have time for your personal development. The MRG team has a strong service-orientation toward our stakeholders and aims to provide clarity and structure to manage model risk. That means that cooperation and providing clear, well-structured advises are core elements of how we work.

You and your talent 

• Master degree
• Affinity for mathematical models. E.g., past model experience in the area of Credit, ALM or Compliance is preferred
• You are eager to learn, willing to help others and have excellent interpersonal skills

• You have a strong interest for intercompany dynamics in a large corporate organization and the ability to understand differences in perceptions ranging from quantitative and business specialists to senior management

 

This is what we offer you

• up to € 4800 gross per month based on 36 hour work week and seniority (scale 8). There is the possibility to work 40 hours a week.
• an extra budget of 10% of your gross salary to be used at your discretion. Buy extra holiday hours, add more to your pension savings or ask for part of the extra budget to be paid out.
• Thirteenth month's salary and 8% holiday allowance

This is a selection of the terms of employment for a Model Risk Steward. You can find all terms of employment on rabobank.jobs/en/conditions-of-employment.

You and the job application process

• Any questions about working at Rabobank and the process? Theo Degen, Senior Recruiter via theo.degen@rabobank.nl
• We will hold the interviews preferably in the Utrecht office, or through a video call if practical.
• You can find answers to the most frequently asked questions on Frequently asked questions - Careers at Rabobank
• A security check is part of the process.
• We respect your privacy.