Model Risk Management Lead, Director

Risk | Model Risk Management | Model Risk Management Lead, Director | NYC

About ING: 

In 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 area.

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

About the department:

Model Risk Management (MoRM) is a department within the CRO US domain and is responsible for the implementation of ING’s global Model Risk Management (MoRM) framework and tooling which scope covers all models used within ING Americas. The department oversees, monitors, and reports on model risks. To ensure its independence and effective challenge, the Model Risk Lead will report functionally to the Global Head of Model Risk Management and hierarchically to the CRO Americas.

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

Responsibilities :

• Set up the Model Risk function in New York and ensure compliance with both US (Fed) and EU (ECB) regulations
• Manage a limited team of qualified expert(s).
• Independent, pro-active, strategic partner on ING’s model landscape.
• Develop future-proof model strategies for all models within ING Americas. You set and drive the long-term cross-border vision, strategy, and policies for Model Risk Oversight from a holistic perspective.
• Contribute to the (overarching) strategy of the MoRM domain and translate that into the agenda of Model Risk for ING US.
• Become a strategic partner to the business and risk functions and give direction to ensure sufficient 1st Model Line of Defense controls throughout the model life cycle.
• Execute effective 2nd Model Line of Defense activities.
• Ensure effective local implementation of the global model risk management framework to ensure compliance with local regulations and ensure risk-based implementation.
• Maintain ING Americas model inventory in the model risk management tooling (iModel).
• Keep abreast of relevant external developments, best practices and regulations and translate those to tangible actions.
• Participate and present model risk matters in relevant ING model committees.

Qualifications and Competencies

ING is looking for an inspiring Model Risk leader with a clear strategic vision, experience in banking and deep expertise in models. As a Model Risk lead, you’ll take a holistic perspective to further shape the future way of model risk management.

• Have significant experience in first and/or second line model risk management.
• Bring 7+ Years of experience as a people manager with proven capabilities of building effective (multicultural) teams, driving team engagement, and developing people in a rapidly changing and regulatory driven environment.
• Have a successful track record in managing relationships with US regulators, supervisors, auditors, and industry associations.
• Well structured, autonomous, highly adaptive and team player.
• Academic degree.
• Ability to handle conflict management and be decisive in promoting a solid model risk culture.
• Demonstrate a high level of self-awareness.
• Possess strong process and change management skills.
• Fluent in English (verbal/written skills).
• Ability to present complex content in an easy and transparent way to senior management.

Salary Range $216,000-$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.