Risk Manager – Model Validation
Fidelity International · Germany · 25d ago
About the Opportunity
Job Type: PermanentApplication Deadline: 30 October 2026Title Risk Manager – Model Validation
Department FIL Fondsbank (FFB)
Location Kronberg i.Ts., Germany
Reports To Head of 2nd Line Risk Management
Level Mid level
We’re proud to have been helping our clients build better financial futures for over 50 years. How have we achieved this? By working together - and supporting each other - all over the world. So, join our FFB Risk team and feel like you’re part of something bigger.
About your team :
Our Risk Management team is dedicated to ensuring the stability and security of our bank by identifying, assessing, and managing risks. With a strong focus on regulatory compliance, we proactively develop strategies for risk mitigation and ensure that our bank always maintains adequate capital buffers.
About your role :
In this role, you will act as an independent 2nd Line validation function, ensuring that all models used across FIL Fondsbank (FFB) are subject to a robust and consistent validation cycle. You will validate FFB’s risk model landscape, which primarily consists of simple to medium‑complexity models across several risk types (Market Risk, Credit Risk, Liquidity Risk, IRRBB, Business Risk, Pension Risk, ICAAP, including stress testing, and EUC‑based models).
You will help to ensure that FFB maintains a robust, well‑documented, audit‑ready model environment aligned with MaRisk, CRR/KWG and internal governance standards.
Key responsibilities :
Maintain and further enhance FFB’s Model Inventory, including risk classification and validation cycle.
Conduct independent validations covering model purpose, data quality, methodology, implementation logic, and testing of key assumptions and outputs, while maintaining clear separation from model development and ownership
Prepare clear, decision‑oriented validations, present results to FFB governance (e.g., Executive Committee) including model approval recommendations and use restrictions and set minimum content for Validation Reports.
Support EUC governance, including capturing and assessing EUCs, applying control standards, and assisting model owners with compliance requirements.
Contribute to continuous improvement of the model lifecycle processes (change management, documentation standards, decommissioning) and maintain high‑quality templates, guidance documents, and validation procedures
Support audits and regulatory reviews conducted by BaFin, Deutsche Bundesbank, and Internal Audit.
Support a good model risk culture through guidance and collaboration with 1st line model owners
About you :
You bring strong expertise in model validation and are comfortable operating in a regulatory environment. The ideal candidate should have:
3–5 years of experience in model validation, model risk management, or a closely related quantitative risk function within banking or asset management.
Degree in a quantitative discipline (e.g., Mathematics, Statistics, Econometrics, Computer Science, Physics) or equivalent experience.
Strong understanding of regulatory expectations for model governance, including MaRisk, CRR/KWG and EBA/ECB guidance.
Ability to analyze and understand a broad range of model types, including OpRisk, credit, market, liquidity, IRRBB, ICAAP, stress testing, and EUC‑based models.
Proven ability to produce high-quality documentation, meeting German supervisory expectations and communicate validation outcomes clearly to senior stakeholders.
Hands‑on proficiency with Python (preferred) and/or R; experience with version control, reproducible analysis, and data visualization.
Ability to exercise independent judgement and maintain objectivity in challenging model owners and stakeholders.
Strong written and verbal communication skills in English and German.
High integrity, curiosity, and resilience; a pragmatic, delivery‑focused mindset.
Feel rewarded :
For starters, we’ll offer you a comprehensive benefits package. We’ll value your wellbeing and support your development. And we’ll be as flexible as we can about where and when you work – finding a balance that works for all of us. It’s all part of our commitment to making you feel motivated by the work you do and happy to be part of our team. For more about our work, our approach to dynamic working and how you could build your future here, visit careers.fidelityinternational.com. :
For more about our work, our approach to dynamic working and how you could build your future here, visit careers.fidelityinternational.com.
Please note we are committed to providing equal opportunities to all candidates, regardless of background, religion, sexual orientation or identity. We value diversity and strive to create an inclusive environment where every individual can thrive and contribute with their unique skills.