Credit Risk Model Developer (IRB & IFRS9)

About the role

ING is hiring a Credit Risk Model Developer for its Model Development Unit in the Retail Credit Risk area, based in Milan. You will help design and enhance risk models for retail portfolios, developing risk parameters (PD, LGD, EAD) under the IRB and IFRS9 frameworks. The role covers AIRB models for the mortgage portfolio and IFRS9 models for mortgages and consumer lending, spanning the full model lifecycle from development to monitoring, regulatory interaction and implementation oversight.

Key responsibilities

• Develop, maintain and monitor AIRB and IFRS9 models for mortgage and consumer lending portfolios
• Ensure compliance with ECB, EBA and Group model risk management requirements, supporting model approvals, annual reviews, remediation plans and regulatory inspections
• Monitor model performance through periodic backtesting and implement corrective actions
• Define action plans for validation findings and regulatory feedback, and support implementation and production deployment
• Collaborate with Internal Validation, Audit and regulators, and carry out ad-hoc analyses such as impact and sensitivity analyses
• Prepare reports for Senior Management and integrate models into business processes

Required profile

• 8-10 years of experience in IRB/IFRS9 model development or validation for retail portfolios
• Solid background in quantitative risk modeling and regulatory compliance
• Experience with Validation, Internal Audit and regulators is a strong advantage
• Knowledge of mortgage and consumer lending portfolios is preferred

Required skills

• AIRB and IFRS9 methodologies, including PD, LGD and EAD modeling
• Data management and modeling tools such as SAS, Python or MATLAB
• Fluent English, written and spoken

What we offer

• Permanent employment contract, full-time (37 hours per week)
• Base salary starting from 57,000 EUR, with variable remuneration
• Smart working, meal vouchers, health and accident insurance, pension fund and welfare plan
• Training, international program and a birthday day off