Credit Risk Model Developer

The Role

You will join the Model Development Unit within the Retail Credit Risk area, contributing to the design, development, and enhancement of IFRS 9 impairment models for retail portfolios. Specifically, you will be part of the team responsible for estimating Expected Credit Losses (ECL), including PD, LGD, and EAD under forward-looking and accounting frameworks.

Key Responsibilities

• Develop and maintain IFRS 9 models, managing all project phases: initiation, data collection, model design, development, validation interaction, and audit/regulatory engagement when required.

• Design and calibrate point-in-time risk parameters and macroeconomic overlays, ensuring proper incorporation of forward-looking information and scenario-based approaches.

• Monitor model performance through backtesting, benchmarking, and sensitivity analysis, identifying model weaknesses and implementing enhancements when necessary.

• Define and execute remediation plans to address findings from Internal Validation, Audit, and external reviews.

• Support model implementation and production deployment, including test strategy definition, UAT execution, reconciliation checks, and issue resolution.

• Collaborate with key stakeholders (Finance, Accounting Policy, Risk, IT, Data Management) to ensure alignment between risk models and financial reporting requirements.

• Conduct impact analyses related to model changes, macroeconomic scenarios, portfolio evolution, and regulatory/accounting updates.

• Perform portfolio monitoring activities, focusing on ECL drivers, staging allocation (Stage 1, 2, 3), and parameter evolution over time.

• Prepare reporting and documentation for Senior Management, including model performance, ECL dynamics, and key risk drivers.

• Ensure proper model governance and documentation, in line with IFRS 9 standards and internal policies.

• Promote best practices in IFRS 9 modeling and forecasting, supporting continuous improvement and knowledge sharing across the organization.

Skills & Competencies

• Strong knowledge of IFRS 9 accounting principles, including ECL methodology, staging criteria, and forward-looking adjustments.

• Solid understanding of regulatory and accounting interactions (e.g., linkage between IFRS 9 and IRB frameworks).

• Technical proficiency in data management and modeling tools (primarily SAS).

• Strong analytical skills, with ability to interpret macroeconomic scenarios and their impact on credit risk parameters.

• Excellent communication skills, with the ability to interact with Finance, Audit, Validation, and Senior Management.

• Proven collaboration skills with cross-functional teams (Risk, Finance, IT, Data).

• Strong organizational and project management capabilities.

• Fluent in English, both written and spoken.

Required Experience

• Minimum 4 years of experience in IFRS 9 model development or validation, preferably on retail portfolios.

• Strong background in quantitative credit risk modeling, time-series analysis, and forecasting methodologies.

Location: Milan (hybrid)

About ING

ING offers many opportunities to build a diverse and rewarding career. You will be joining an international innovative digital bank, the first in Italy to adopt a fully flexible smart working model, and you will be working in a stimulating environment where you can grow both as an individual and as a professional.

Our purpose - empowering people to stay a step ahead in life and in business - represents our belief in people’s potential. We don’t judge, coach or to tell people how to live their lives. We empower people and businesses to realize their own vision for a better future.

#doyourthing is our brand direction with us each and every day. It is how we articulate our purpose and our promise to make banking frictionless to the world. ‘do your thing’ is about people being free to live the life they want to live, knowing that they will make their world a little better for it.

Do you think you are "a step ahead"? Apply now!

The benefits of joining ING

In addition to being a part of a great team, working in a fun and innovative environment, we offer:

• Super flexible smart working

• Competitive base salaries and performance based bonuses

• Diverse cultures & Innovative mindsets

• International Environment

• Commitment to sustainability

• Lots of training development opportunities to help you grow

• Lots of moments dedicated to physical and mental well-being

• A special day off when it is your birthday: we call it #doyourbirthday!

• And of course we can’t forget: free water & cof