Purpose of the Job
Quintet Private Bank is a leading private bank in the wealth management sector; we are committed to our clients and their families, and pride ourselves on our personalised service based on a deep understanding of what clients want to achieve.
We are a bank headquartered in Luxembourg , with branches in Germany, Netherlands and Belgium and a subsidiary in the UK and supervised by the ECB with an ambition to stay true to our purpose to be the most trusted fiduciary of family wealth. When you join Quintet you are joining a company that values diversity of background, equal access to opportunities, career development, collaboration and inclusiveness. We want our employees to feel proud of being part of a company that is committed to do the right thing. You will have the opportunity to grow your career while developing personally and professionally through various resources and programmes.
As part of the Group Risk function, the Financial Risk Management department is in charge of assessing and supervising the financial risks arising from the Group activities, including market, liquidity, credit, and model risks.
To reinforce its function, the Financial Risk Management department is actively looking for a Financial Risk Specialist, whose role will be to assist in the deployment of harmonised and homogeneous models, tools, data management, and risk reporting capabilities across the Group.
The selected candidate will be working in close collaboration with:
- Quantitative risk managers and risk analysts focusing on risk areas such as credit, market or liquidity risks;
- Internal model validators ensuring proper model risk governance; and
- Transversal risk managers in charge of risk reporting to internal (Authorised Management and Board) and external (regulators, investors, auditors) stakeholders.
Key Accountabilities
- Take part in the design, prototyping, implementation, and maintenance of quantitative risk models for Economic Capital (Pillar II) allocation, Expected Credit Losses evaluation, Stress Testing, and Interest Rate Risk in the Banking Book (IRRBB).
- Contribute to the enhancement and harmonisation of data structures, models, and tools used for Credit (including Climate), IRRBB and Liquidity Risks, particularly in the context of infrastructure upgrade initiatives.
- Act as a model user (or support other model users) and propose in-depth analyses of model outcomes, on a recurring basis (e.g., monthly/quarterly/annually).
- Support other risk management teams by developing end-user calculation and reporting solutions (e.g., using Excel, VBA, or PowerBI).
- Participate in cross-functional projects aimed at improving the design and integration of the current IT infrastructure supporting risk modelling, data management, and reporting.
- Provide quantitative support to infrastructure migration projects impacting market and liquidity risk frameworks, including specification of data requirements, data quality controls, and model implementation environments.
Knowledge and Experience
Requisites:
- Master (BAC+5) in a quantitative discipline (engineering mathematics, physics, finance)
- 3-6 years of previous relevant experience in a risk management environment (ideally model development, model validation or data management)
Useful assets:
- Understanding of the banking industry, of basic accounting principles and of the components of a bank’s balance sheet
- Prior experience in a credit risk management or credit risk modelling environment; understanding of key credit risk concepts such as PD, LGD, EAD and the modelling thereof
- Exposure to IRRBB and/or liquidity risk modelling, data management, or regulatory reporting
- Experience with IT change projects in risk, including specification of data interfaces, testing of new systems
- Understanding of the lending cycle, especially in a private banking context
- Knowledge of climate risk fundamentals (e.g., physical vs. transition risks, main drivers of climate risk into credit risk notably for corporate bonds and mortgage credits)
- Knowledge of applicable banking regulations (e.g., Basel framework, CRR, IFRS9, CSRD)
Attributes and Qualities
- Have strong analytical and mathematical skills
- Be able to work autonomously, design creative solutions and bring new ideas
- Have a collaborative mindset, and put oneself in the shoes of counterparts/clients
- Challenge the existing situation and seek to improve it, focusing on solutions rather than on problems
- Have excellent interpersonal and communication skills, with the ability to explain complex concepts in a simple and straightforward manner
Technical Skills
- Strong programming skills in Matlab or ability to build on other languages (Python, C#, C++, Java, R) to acquire it
- Knowledge of data management tools: SQL Server, SSIS
- Fluency with the MS Office suite, especially MS Excel
- Knowledge of PowerBI is a strong asset
Languages Skills
- Fluent in English, French is considered an advantage
