AI & Model Risk Specialist

Luxembourg, LU, L-2449

Purpose of the Job

Quintet Private Bank is a leading private bank in the wealth management sector; we are committed to our clients and their families, and pride ourselves on our personalised service based on a deep understanding of what clients want to achieve. We are a bank headquartered in Luxembourg with branches in Belgium, Denmark, Germany, and the Netherlands, as well as a subsidary in the UK. Supervised by the CSSF we have the ambition to stay true to our purpose to be the most trusted fiduciary of family wealth.

When you join us you are joining a company that values diversity of background, equal access to opportunities, career development, collaboration and inclusiveness. We want our employees to feel proud of being part of a company that is committed to do the right thing. You will have the opportunity to grow your career while developing personally and professionally through various resources and programmes.

The Model and AI Risk Model Validation Specialist provides independent assurance on the integrity, robustness, and appropriateness of models across their lifecycle, covering traditional data-driven risk models as well as an increasing range of AI models. The function assesses key aspects including data quality, model design, calibration, performance, and regulatory compliance, and ensures that model outputs are reliable for decision-making.
In addition, the Model and AI Risk Validation Specialist acts as a steward of Model and AI Risk, maintaining oversight of the Model Inventory across Credit, Market, Operational, and AI use cases, and ensuring that model-related risks are identified, measured, and appropriately controlled.

Key Accountabilities

Lead the validation and periodic review of a defined portfolio of models, ensuring robustness, regulatory compliance and appropriateness for decision-making.
Exercise independent 2nd Line of Defence challenge on model design, assumptions, calibration and use, including escalation of material model risks.
Monitor and analyse model risk indicators, identifying emerging risks and recommending appropriate mitigation actions. Drive timely remediation of model issues, tracking validation findings through to closure and ensuring adequate resolution of identified weaknesses.
Organise and host the the quarterly Model Risk Committee, prepare and present validation outcomes, action plans, model developments and model risk indicators and risk insights.
Act as a risk steward for Model and AI Risk in the Bank, which entails performing independent check and challenge on projects, services, or initiatives involving models, and monitor model risk indicators.
Provide independent validation input and second line of defence (2nd LoD) challenge on AI models and use cases proposed by the first line of defence (1st LoD).
Participate in the AI Risk and Compliance Forum as Model and AI Risk steward.
Provide expert advisory support to the business on model risk, regulatory expectations and best practices in model development and validation.
Contribute to strengthening the overall Model Risk Management framework, including policies, tools and processes at Group level.

Knowledge and Experience

Further professional Education (Masters / Professional qualification)
Between 3 and 5 years experience in a similar role

Attributes and Qualities

Critical Thinking & Problem Solving
Communication (Verbal & Written)
Attention to Detail
Adaptability & Learning Agility
Decision Making

Technical Skills

MS Office proficiency
SQL
Matlab or Python
Quantitative modelling or validation (IRRBB, Market Risk, Credit Risk, AI models, etc)