Risk Specialist in ICAAP (all genders)

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Erste Group was founded in 1819 as the first Austrian savings bank and today it is one of the largest banking groups in Central and Eastern Europe (CEE). As an attractive employer, Erste Group offers interesting career opportunities in an international environment.

Department Description

The ICAAP team within the Enterprise-wide Risk Management (ERM) division, ensures group-wide risk portfolio steering based on a holistic, cross-risk oversight of risks. We support the Erste Group’s management with a robust enterprise-wide risk management framework to ensure that the bank group has the capacity to bear its acquired risks. We also ensure that new emerging risk types (such as ESG risks) are reflected in the overall risk framework.

As a member of our team, you will play a crucial role in strengthening and further developing Pillar 2 capital adequacy framework, i.e. risk and capital quantifications from the economic view.

Your Tasks

• Taking charge of maintaining and fortifying the Pillar 2 risk-bearing capacity calculation (RCC) framework for the Group, Holding, and EBOe and being competence center for Austrian savings bank sector
• Creating advanced methodologies for RCC in alignment with Pillar 2 regulations, emphasizing an economic approach to risk quantification and internal capital computation
• Utilizing advanced credit risk models and methodologies for assessing and managing credit-related risks, including concentration risks and migration risk
• Developing and utilizing methodologies for risk assessments (beyond credit risk) based on scenario and sensitivities analysis
• Exhibiting the ability to interpret and analyze results, translating complex outputs into actionable insights for enhancing risk management strategies
• Playing a pivotal role in economic capital planning
• Overseeing the consistent application of RCC standards, methodologies, models, systems, and processes across the entire group, ensuring uniformity and compliance
• Taking the lead in coordinating and performing quarterly RCC processes, ensuring timely and accurate assessments of risk-bearing capacity

Your Background

• University degree in Quantitative Finance, Mathematics, Economics or a related area
• Strong quantitative and analytical mind, coupled with the ability to interpret from an economic perspective the output of risk models
• Proficiency in programming languages for advanced data analytics and modeling (such as Python, R, SAS)
• Previous experience in ICAAP or risk management and knowledge of the relevant regulations
• Practical knowledge in integrating risk models into risk steering is of advantage
• Proven track record of effectively utilizing advanced credit risk models and methodologies for assessing and managing credit-related risks, including concentration risks and migration risk would be considered as a plus
• Hands-on experience in leveraging models/methodologies for risks quantifications, incl. scenario and sensitivities analysis would be advantageous
• Excellent communication and presentation skills to articulate complex risk concepts clearly and concisely
• Excellent German (first language is a plus) and English skills in written and verbal communication

Our Offer

• An exciting and challenging responsibility area with significant individual responsibility
• The possibility to work in an international and highly motivated team
• Commitment to support you in your professional and personal development

• The minimum wage for this full-time position in accordance with the collective agreement with complete fulfillment of the functional profile is EUR 40.120,-- gross per year. But this is just a formality - we would be happy to talk about your actual salary in person! 

• We offer our employees the opportunity to divide their hours between working from home and at the office.

• We consider the diversity of our employees as key to innovation and success. As employer we are proud to offer everyone equal chances, irrespective of age, skin colour, religious belief, gender, sexual orientation or origin.