Counterparty Credit Risk Model Developer

Job ID: 7252 Counterparty Credit Risk Model Developer [Senior/Lead Quantitative Risk Analyst] (permanent position) We are looking for a quantitative model developer with an interest in derivatives, risk modelling and practical implementation. About our team Meet the Counterparty Credit Risk Models team. The role combines mathematical finance, Python development and an understanding of trading and regulatory requirements. We welcome candidates with experience in counterparty credit risk or XVA, as well as those with relevant experience in derivatives pricing, quantitative risk or derivative trading. Our team develops and maintains Nordea’s counterparty credit risk exposure models, including the Internal Model Method (IMM). Our work covers the full model lifecycle: interpreting requirements, developing methodologies, sourcing and analysing data, implementing models and supporting validation and regulatory approval. You will work with experienced quantitative colleagues in a friendly and supportive team and collaborate with trading, technology, model validation and risk management. We share expertise across projects, while giving each team member responsibility for taking their work forward. Collaboration. Ownership. Passion. Courage. These are the values that guide us in how we work and how we make decisions – and that we imagine you share with us. What you’ll be doing Main responsibilities in this role: Develop and improve counterparty credit risk models, combining sound methodology with practical implementation. Investigate derivatives pricing and exposure behaviour, and assess the implications of modelling choices for trading portfolios and risk measures. Source, reconcile and analyse trade and market data from front-office and other internal systems. Develop production implementations in Python, alongside tools for impact assessment, testing and ongoing model monitoring. Interpret relevant regulatory requirements and translate them into proportionate modelling and implementation choices. Write clear model documentation, analyses and decision memos for technical reviewers, senior stakeholders and regulatory submissions. Take model developments through validation and internal approval processes, explaining your choices and addressing challenge constructively. Who you are This is the right role for you if: You take ownership of your work and can move a project forward, including when requirements, data or implementation options are not straightforward. You work independently and you are able to collaborate, share and draw on the expertise of your colleagues. You combine analytical depth with practical judgement. You can explain complex topics clearly, make well-supported recommendations and discuss trade-offs with stakeholders who bring different perspectives and priorities. Your background and skills include: A degree in a relevant quantitative discipline, such as mathematical finance, mathematics, statistics, physics, engineering or econometrics. Relevant experience in a quantitative role involving derivatives, pricing or financial risk. A sound understanding of derivatives pricing and risk. Practical programming experience in Python and an interest in developing reliable production code. The ability to write clear, structured technical reports and memos, and communicate effectively in English. Experience with counterparty credit risk, IMM, CVA or XVA is particularly relevant. Familiarity with banking regulation and model validation or approval processes is also an advantage. You do not need to have worked with every aspect of the role. We value a strong foundation in derivatives and quantitative development, together with the ability and motivation to build broader expertise. What we offer People come here when they want to get somewhere. For some, it’s to take their career to the next level. For others, it’s to break new ground within their area of expertise – in other words, with us, you will always move forward. A culture that fosters performance and growth in one of the largest Nordic banks, offering various opportunities to evolve, develop and learn from brilliant colleagues with diverse backgrounds in a vibrant working environment. Hybrid working model – we believe in the value of bringing people together and at the same time we embrace the freedom of flexibility. Diversity and inclusion are a natural part of our daily work. We know that an inclusive workplace is a sustainable one. We genuinely believe that our diverse backgrounds, experiences, characteristics and traits make us stronger together. Every day we strive to find new ways to improve diversity and inclusion within our community e.g. we have signed the European Diversity Charters in the countries where we operate to show our commitment and engage with others to continue learning and improving. If this sounds like you, get in touch! Next steps Submit your application no later than 23/11/2026. We enable dreams and aspirations for a greater good. We build relationships. We add a personal touch to everything we do – when advising our customers, collaborating with colleagues, and meeting our potential candidates. We learn and develop. We take pride in being experts and thinking ahead. We use our expertise to meet our customers’ needs, from the simplest to the most complex. We bring a growth mindset to our work that enables us to focus on a broader perspective in our daily challenges. We lead change. We are responsible and aware of the impact of our decisions, both for our customers and for our local and global communities. Mindful of our responsibility towards current and future generations, we have made sustainability an integrated part of our business strategy. We are Nordea. We have a 200-year history of supporting and growing the Nordic economies and our values are deeply rooted in these open, progressive and collaborative societies. As one of the biggest employers in the Nordics, Poland and Estonia, you have excellent opportunities to evolve, develop and move forward with us. If you are an external consultant interested in this role and wish to apply please contact the hiring people leader for separate instruction on how to apply. For union information, please contact Finansförbundet at finansforbundet@nordea.se or SACO at SacoNordea@nordea.com.