Assistant Quantitative Risk Analyst, Retail PD

Job ID: 4444

Assistant Quantitative Risk Analyst, Retail PD (permanent position)

Would you enjoy working with data and statistical models in practice and add a real business value for Nordea? We are looking for Assistant Quantitative Risk Analyst. The role combines predictive modelling, advanced analytics and statistics, practical implementation of the models in our IT infrastructure and a sound understanding of retail banking. You need to enjoy working with large datasets, solve problems and find new and innovative solutions.

At Nordea, we use internal models for calculating regulatory capital. These models are developed and maintained by the Risk Models team. The role is within the Retail Probability of Default Modelling team (Retail PD) which sits within Risk Models and is responsible for accurately estimating probability of default for Nordea’s retail customers as well as developing pre-default signals. We are recruiting for more talented people to help us meet the standards set by the European Central Bank (ECB).

About our team

Meet the Retail PD team. Our role is to develop and maintain scorecards, probability of default models and pre-default signal models for Nordea’s household and small and medium-sized enterprise customers. The main purpose of the team’s output is to ensure that Nordea complies with capital requirements as stipulated by the ECB. Output is also used in the credit process, loan maintenance and for strategic management purposes. We add value by accurately estimating the individual probability of default for Nordea’s customers who hold our lending products. As Assistant Quantitative Risk Analyst you will play a valuable role in developing, maintaining and using models which accurately estimate retail customers’ credit risk.

Given the nature of our data and regulatory requirements, we use advanced modelling techniques and big data technology. In addition to using leading techniques for modelling and data, the team’s role is general risk governance within credit risk modelling, including management of models, model implementation, data quality and model use.

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:

• Maintain statistical models and develop new models when needed;
• Test and document that our existing models work on new portfolios;
• As model owner, ensure and verify that models are implemented correctly in production systems. Drive automation of risk models in collaboration with IT infrastructure teams;
• Support model users throughout Nordea;
• Optimise data extractions of very large datasets for modelling and analytical purposes;
• Quantitative data analyses, i.e. financial impact of model and data changes and investigation of impact on models from changes in processes and data;
• Prepare reports and other documentation used for both senior management and external reporting;
• Model governance and participating in various risk fora. Ensuring that model frameworks are followed, risks are identified, well-understood, monitored, controlled, reported and mitigated;
• Ad hoc analyses for external and internal stakeholders.

Who you are

This is the right role for you if you:

• Have genuine interest in retail banking and credit risk management;
• Enjoy working with large datasets and navigate well in tools used to analyse them;
• Keen interest in using the latest and most innovate technology and a commitment to ongoing learning;
• Work well in a dynamic and constantly changing work environment with varying workload;
• Navigate well in statistical modelling techniques;
• Are proactive and continuously seek ways to improve;
• Find solutions and not only raise problems;
• Have an analytical and problem-solving mindset;
• Exquisite attention to detail and a commitment to deliver high-quality work.

Your background and skills include:

• Tertiary qualifications in a quantitative field, including but not limited to economics, engineering, business, mathematics, science, statistics, finance, or similar;
• Experience in programming (Python, SQL or SAS; Python preferred;
• Experience in working with data and models either from your studies or previous work is required;
• Strong focus on results and deliveries—you have an eye for the value Retail PD delivers to Nordea;
• Prior experience in credit risk and retail banking is a plus.

Recent graduates are encouraged to apply.

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 11/05/2026.

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.

For union information, please contact Finansförbundet at finansforbundet@nordea.se or SACO at SacoNordea@nordea.com.