Join our international team that drives positive change, united by a spirit of openness and curiosity. We empower you to have an impact and to grow – personally and professionally. With us, you work at the heart of financial systems and evolve the way markets operate. We’re excited about the future because we are the ones shaping it. Let´s do this together by sharing value!
Expert - Model Validation (f/m/d)
Clearstream International S.A. • Luxembourg
Learn. Develop. Grow. But always: Share value
Who we are
Tracing its origins to 1585, Deutsche Börse Group has become one of the world’s leading exchange organisations and an innovative market infrastructure provider. In this role, we provide investors, financial institutions and companies access to global capital markets. What’s your part in all this? With your commitment you contribute to the success of our unique business model: offering a wide range of products, services and technologies for security, transparency and integrity on the markets. By creating trust in the markets of today and tomorrow we foster growth and contribute to the prosperity of future generations.
Your career at Deutsche Börse Group
Your area of work
Model Validation provides independent effective challenge of models, applying financial theory and quantitative methods. The main task is to assign model risk according to validation guidelines, as well as develop appropriate validation methods, employ validation instruments on a regular basis and perform ad-hoc model reviews in light of a changing regulatory environment and market conditions. Your primary role is to drive and participate in the validation of risk models in scope of the regulatory requirements such as ICAAP risk models and liquidity risk models. Working on these tasks include the collaboration with model developers, the IT department, and other internal and external stakeholders.
- Development and continuous maintenance of validation concepts as well as appropriate quantitative and qualitative methods for the Clearstream ICAAP and ILAAP framework including stress test scenarios and all reported risk measures
- Carry out initial, regular, and ad-hoc validations of ICAAP and ILAAP risk models including the stress testing framework implemented within Clearstream entities
- Engage with model owners as well as business and development experts to ensure the risk positions are effectively challenged and model risk is properly addressed
- Deliver model validation analysis and reports in support of senior management and committee review
- Review and update guidelines and documentation, ensuring compliance with relevant internal policies, standards, and regulatory requirements
- M.Sc. or PhD in in a quantitative or economic discipline
- At least 5 years of relevant work experience, preferably in ICAAP or ILAAP risk model development or model validation. Sound knowledge of credit rating and haircut models would be an asset.
- Strong knowledge of the relevant regulatory landscape (CSDR, MaRisk, ECB guide to ICAAP and ILAAP) and its application to risk modelling
- Well-developed analytical skills, sound knowledge of statistical and econometric methods
- Very good programming skills (e.g. Python, R), experienced with databases (e.g. SQL)
- Efficient team player with a high degree of organizational self-reliance as well as high results orientation and good communication skills
- Strong critical thinking skills and demonstrated ability to produce clear, concise written reports
- Proficiency in written and spoken English, German or French language skills would be an asset
Why Deutsche Börse Group?
We are committed to providing a work environment where everyone feels welcome and can reach their full potential. Our standards go far beyond simply matching candidates with the right position.
We enable you to move freely with our job tickets, job (e-)bikes and free parking opportunities.
Collaboration, communication, or deep focus – in our modern office buildings you will find the perfect work environment. Free drinks and food and meal allowances included.
Health and wellbeing
We care for your health and wellbeing and besides various health promotion measures we offer you a group accident insurance and additional insurance offers at discounted rates.
We provide financial stability by offering attractive salaries, company pension schemes, participation in our Group Share Plan, as well as bonuses, subsidies and discounts.
Collaborate and exchange on-site or work remotely several days a week in line with business needs and local regulations. Our hybrid working model combines the best of both worlds.
Flexible working hours
We want your job to fit your life situation and offer flexible working time models, part-time models, childcare allowance, or the possibility to study alongside your job.
Our market infrastructures are globally connected. Working with us means collaborating with like-minded colleagues across over 60 locations from more than 100 nations.
We promote individual development by offering internal development programmes, mentoring, further education and training budgets.