Location: Vienna Working hours: Full-time Occupational Area: Risk management Company: Erste Group Bank AG Erste Group was founded in 1819 as the first Austrian savings bank and is today one of the largest stock-listed banking groups in Central Europe. As an attractive employer, Erste Group offers interesting career opportunities in an international environment. The Model Validation unit is responsible for establishing validation methodologies and standards for AI/ML models used throughout Erste Group, with a specific focus on credit (i.e., IRB, IFRS 9, Pillar 2) and operational risk (i.e., AMA) use areas. The purpose of the Model Validation unit is to critically and independently challenge models used for regulatory and internal purposes. Your Tasks Contribute to setting the group-wide validation methodology and standards for internal models with a specific focus on credit risk (i.e., IRB, IFRS 9, Pillar 2) Implementing the validation methodologies and standards in a dedicated analytical environment Continuously improve and maintain group-wide validation methodology and validation architecture Conducting independent model validation and provide valuable feedback for the continuous improvement of internal models, ensuring the decision-making process is based on sound and quantitative-based evidence Your Background Minimum 3 years of experience in model validation or development of statistical models in a large corporation, preferably in the credit risk area Master’s degree in mathematics, statistics, econometrics, finance or a related quantitative field Strong understanding of model development and validation frameworks as well as relevant regulations (e.g. IRB, IFRS 9) Strong analytical skills and the ability to interpret results critically and clearly communicate findings Strong programming skills in Python. Expe