Key Skills

Job Description

Freelance Model Validator – Banking & Risk Models Location: Utrecht, Netherlands (Hybrid) Contract: Freelance / Self-Employed (ZZP) Hours: 36 hours per week Start Date: ASAP Contract Duration: Until 31 December 2026 Hourly Rate: Competitive, depending on experience Application Deadline: 14 October 2026, 12:00 CET The Opportunity We are looking for an experienced Model Validator to join the Model Risk Management team of a well-established Dutch financial institution based in Utrecht. This is an excellent opportunity for a quantitative risk professional who enjoys critically evaluating financial models, challenging assumptions and ensuring models are reliable, compliant and fit for purpose. You will work closely with Model Development, Risk Management, Internal Audit and other stakeholders, contributing to effective model risk governance and providing independent advice to senior management. The position offers a hybrid working arrangement within a collaborative and technically experienced team. Key Responsibilities Independently assess and validate financial and risk models, including their development, methodology, implementation and performance. Critically review model code, statistical analyses, assumptions, documentation and supporting data. Conduct statistical testing and quantitative analyses to evaluate model accuracy, robustness and reliability. Identify model weaknesses, limitations and potential risks, recommending appropriate improvements and remediation measures. Evaluate model compliance with applicable banking regulations and internal risk management standards. Prepare comprehensive, high-quality model validation reports, clearly communicating findings, conclusions and recommendations. Present and discuss validation findings with model developers, risk managers and senior stakeholders. Collaborate with Model Development, Risk Management, Internal Audit and, where relevant, regulatory stakeholders. Contribute to improvements in model validation methodologies, governance processes and model risk management practices. Candidate Requirements We are seeking a technically strong and analytically minded professional with practical experience in financial model development and/or independent model validation. Essential: A bachelor's degree or higher in Mathematics, Statistics, Econometrics, Quantitative Finance, Physics, Computer Science or a related quantitative discipline. At least 3 years of relevant professional experience. Practical experience in model development, model validation or quantitative risk management within banking or financial services. Strong programming skills and experience analysing large datasets, ideally using Python, R, SAS or similar analytical tools. Excellent statistical and quantitative analytical skills. Sound understanding of banking regulations and relevant regulatory frameworks. Experience critically assessing model methodologies, assumptions, performance and documentation. Strong written communication skills, including the preparation of professional technical reports. Ability to communicate complex quantitative findings to technical and non-technical stakeholders. Confidence in challenging model assumptions and discussing findings constructively with senior stakeholders. Desirable: Experience validating credit risk, market risk, interest rate risk or other banking risk models. Familiarity with regulatory frameworks such as Basel III, CRR/CRD, ECB/EBA guidelines or IFRS 9. Experience working within a Model Risk Management or independent model validation function at a regulated financial institution. Familiarity with model governance, back-testing, stress testing and model performance monitoring. Personal Attributes The successful candidate will demonstrate: Strong analytical and problem-solving capabilities. Excellent attention to detail and sound professional judgement. An independent, critical and objective approach to model assessment. A proactive, solution-oriented working style. Strong interpersonal skills and the ability to build consensus across different stakeholder groups. Confidence communicating recommendations and challenging existing approaches professionally.

Core Responsibilities

Independently validate financial and risk models by reviewing their methodologies, code, assumptions, data, implementation, and performance, and conduct quantitative testing to identify weaknesses and recommend remediation. Prepare and present validation reports, advise stakeholders, and contribute to model governance and improvements in validation practices.

Requirements

Requires a bachelor's degree or higher in a quantitative discipline, at least three years of relevant experience, and practical experience in model development, validation, or quantitative risk management in banking or financial services. Candidates should have strong statistical and programming skills, knowledge of banking regulations, and the ability to write technical reports and communicate findings to diverse stakeholders.