Vice President, Model Risk Management

About the role

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. ING Americas follows a hybrid work model, allowing for in-office and work-from-home flexibility; hybrid arrangements vary based on business areas.

U.S. Model Risk Management (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. Key stakeholders for U.S. MoRM include a wide range of global cross-function groups (business units, risk functions, etc.). The Model Risk Management Expert will report to the U.S. Head of MoRM.

Responsibilities

• Support the U.S. MoRM function in New York to ensure models are (i) fit-for-purpose for regional use, and (ii) compliant with all relevant U.S. and EU ECB regulatory expectations.
• Own and maintain ING Americas model inventory within model risk management’s tooling (iModel).
• Conduct the regional model inventory attestation process.
• Leverage AI-enabled tools to enhance model risk activities.
• 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.
• Keep abreast of relevant external developments, best practices and regulations and translate those to tangible actions.

Qualifications

• 7+ years of experience in first and/or second line risk management, and strong understanding of effective model life cycle.
• Strong experience working with or in model validation teams and a pragmatic understanding of what effective model validation is.
• Experience in wholesale banking with proven capabilities of influencing and working with (multicultural) teams in a rapidly changing and regulatory-driven environment.
• U.S. regional experience and a 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.
• 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.

Pay

Salary range: $157,000–$198,000 base salary. This role is eligible for participation in a discretionary bonus program.

Benefits

• Comprehensive health benefits (including a $0 premium medical plan with HSA)
• Generous 401k savings plan
• Competitive PTO
• Adoption, surrogacy, and fertility services
• Student debt assistance
• Subsidies for expenses associated with commuting and fitness