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FS Risk Consulting - Financial Services Risk Management - IRB Model Development - Dublin - Job Opportunity at EY

Dublin, Ireland
Full-time
Senior
Posted: July 14, 2025
Hybrid
EUR 75,000 - 95,000 for Senior Consultant level, EUR 95,000 - 120,000 for Manager level, and EUR 120,000 - 150,000 for Senior Manager level, reflecting Dublin's competitive financial services market and the specialized nature of IRB/IFRS9 expertise

Benefits

Flexible annual leave purchase options providing enhanced work-life balance beyond standard allocations
Comprehensive bike-to-work scheme supporting sustainable commuting with tax advantages
Subsidized travel pass reducing commuting costs and supporting environmental sustainability
Complimentary gym membership promoting employee wellness and health management
Competitive pension scheme ensuring long-term financial security
Discounted health insurance providing comprehensive medical coverage
Free unlimited online GP consultations for employee and family members
Hybrid working arrangements offering flexibility and autonomy
Professional development through Tech MBA fully funded by EY
Wellness rooms in select offices supporting mental health and well-being
Recognition awards acknowledging outstanding performance and contributions
Cash incentives for successful employee referrals
Company-provided mobile device for business and personal use
Enhanced maternity and paternity leave policies

Key Responsibilities

Lead strategic IRB and IFRS9 model development initiatives across diverse portfolios including Consumer SME, Retail SME, Investment Property, and Corporate segments for Ireland and UK markets, directly impacting regulatory compliance and capital optimization
Drive comprehensive data engineering and management programs including integrity validation, remediation, and analytics to support multi-million dollar model enhancement initiatives
Architect and develop sophisticated PD, LGD, and EAD models for IRB frameworks and ECL models for IFRS9 compliance, ensuring accuracy and regulatory adherence across complex financial portfolios
Navigate and implement complex regulatory frameworks including EBA Guidelines and ECB Guide to Internal Models (EGIM) while ensuring full compliance with IFRS9 accounting standards
Manage high-level stakeholder relationships and technical collaborations with senior executives to align model development with business strategy and regulatory requirements
Lead and mentor cross-functional teams of risk modeling professionals, driving successful execution across all stages of model lifecycle management and capability development
Establish comprehensive model effectiveness measurement frameworks and optimization strategies, providing strategic recommendations for continuous improvement and competitive advantage
Champion innovation through continuous learning and application of industry developments, regulatory changes, and quantitative advancements to deliver exceptional client value

Requirements

Education

Masters' Degree in Mathematics, Statistics, or related field for Senior Managers, Bachelors degree for Managers and Consultants

Experience

10 years of experience for Senior Manager, 6+ years for Manager and 4+ years for Consultants in IRB and IFRS9 model development

Required Skills

Proven track record of developing, validating and/or implementing successful IRB and IFRS9 models Experience in delivering model enhancement programmes Experience in managing teams and engaging with senior stakeholders Strong leadership and management skills Excellent communication skills, verbal and written Strong analytical and problem-solving skills Solution focused mind-set Ability to apply data insights to drive innovation and support robust decision-making Proficiency in programming languages, including SAS (macros), SQL, and Advanced Excel In-depth understanding of IRB regulations including EBA Guidelines and ECB Guide to Internal Models (EGIM) and/or IFRS9 accounting standards Experience working with large volumes of data Experience in Irish and UK asset portfolios
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Sauge AI Market Intelligence

Industry Trends

The financial services risk management sector is experiencing unprecedented transformation driven by evolving regulatory landscapes, particularly with the implementation of Basel III reforms and ongoing refinements to IFRS9 standards. Organizations are increasingly investing in sophisticated risk modeling capabilities to maintain competitive advantage while ensuring regulatory compliance. The emphasis on model validation and recalibration has intensified as regulators demand greater transparency and accuracy in risk assessment methodologies. Digital transformation in risk management is accelerating the adoption of advanced analytics, machine learning, and artificial intelligence technologies. Traditional risk modeling approaches are being enhanced with real-time data processing capabilities and predictive analytics, creating demand for professionals who can bridge quantitative expertise with technological innovation. The integration of ESG risk factors into traditional risk models is becoming a critical requirement across the industry. The post-pandemic economic environment has highlighted the importance of stress testing and scenario analysis in risk management frameworks. Financial institutions are investing heavily in dynamic provisioning models and enhanced early warning systems, driving demand for professionals with expertise in both IRB and IFRS9 model development. The focus on model interpretability and explainability has increased significantly as stakeholders demand greater understanding of risk model outputs.

Role Significance

Senior Managers typically lead teams of 8-15 risk modeling professionals, including managers, senior consultants, and analysts. The role involves managing multiple concurrent projects with cross-functional collaboration across different business units and external stakeholders. Team leadership extends to mentoring junior professionals and driving capability development across the organization.
This role represents a senior-level position within the risk management hierarchy, with significant influence over regulatory compliance strategies and capital optimization initiatives. Senior Managers operate at the intersection of technical expertise and business strategy, making critical decisions that impact organizational risk appetite and regulatory standing. The role requires deep subject matter expertise combined with leadership capabilities and stakeholder management skills.

Key Projects

Large-scale IRB model redevelopment programs spanning multiple asset classes and geographic regions, typically involving 12-18 month implementation cycles with budgets exceeding EUR 2 million IFRS9 model enhancement initiatives focusing on forward-looking provisioning and scenario analysis capabilities, requiring integration with existing risk management frameworks Regulatory compliance programs addressing EBA guidelines and ECB supervisory expectations, involving detailed model validation and documentation processes Cross-border model harmonization projects supporting international banking operations and regulatory reporting requirements

Success Factors

Deep technical expertise in quantitative risk modeling combined with practical understanding of regulatory requirements and business applications. Success requires the ability to translate complex mathematical concepts into actionable business insights while maintaining rigorous adherence to regulatory standards. Strong stakeholder management and communication skills enabling effective collaboration with senior executives, regulators, and cross-functional teams. The ability to present complex technical information to non-technical audiences is critical for driving organizational buy-in and regulatory approval. Leadership capabilities including team development, project management, and change management skills. Success depends on the ability to build high-performing teams while navigating complex organizational dynamics and competing priorities. Continuous learning mindset and adaptability to evolving regulatory landscapes and technological developments. The rapidly changing risk management environment requires professionals who can anticipate trends and proactively develop new capabilities.

Market Demand

High demand driven by regulatory requirements, digital transformation initiatives, and the critical importance of risk management in post-pandemic banking environments

Important Skills

Critical Skills

SAS programming expertise with advanced macro capabilities is absolutely essential as it remains the primary platform for complex risk model development and validation in the banking industry. Proficiency in SAS enables the manipulation of large datasets and implementation of sophisticated statistical techniques required for IRB and IFRS9 modeling. Deep understanding of IRB regulations including EBA Guidelines and ECB Guide to Internal Models (EGIM) is fundamental to success in this role. This knowledge ensures model development adheres to regulatory requirements and can withstand supervisory scrutiny during validation processes. IFRS9 accounting standards expertise is critical as financial institutions continue to refine their implementation of expected credit loss models. Understanding the interaction between regulatory capital requirements and accounting provisions is essential for effective model development. Leadership and stakeholder management skills are vital for success at senior levels, enabling effective team management and client relationship development. The ability to influence and guide complex decision-making processes is essential for career advancement.

Beneficial Skills

Python programming skills are increasingly valuable as the industry adopts more advanced analytics and machine learning techniques. While SAS remains dominant, Python proficiency demonstrates adaptability to emerging technologies and analytical approaches. Experience with cloud-based risk modeling platforms and distributed computing environments provides competitive advantage as financial institutions modernize their risk management infrastructure. Knowledge of AWS, Azure, or Google Cloud platforms enhances career prospects. Understanding of emerging regulatory requirements such as ESG risk factors, climate stress testing, and operational risk modeling frameworks positions professionals for future opportunities as these areas gain prominence. Project management certifications and change management expertise enhance effectiveness in leading large-scale transformation initiatives and managing complex stakeholder relationships across multiple business units.

Unique Aspects

This role offers rare exposure to both Irish and UK regulatory environments, providing valuable cross-jurisdictional experience in risk modeling and regulatory compliance. The opportunity to work across multiple asset classes and banking sectors offers comprehensive skill development that is highly valued in the risk management profession.
The position combines technical depth with strategic influence, offering direct engagement with senior stakeholders and regulatory bodies. This exposure to high-level decision-making processes and regulatory interactions provides exceptional career development opportunities.
EY's global platform provides access to international projects and career mobility opportunities across multiple geographic markets. The firm's investment in technology and innovation offers exposure to cutting-edge risk modeling techniques and emerging regulatory trends.
The role offers the unique opportunity to influence regulatory policy and industry best practices through EY's thought leadership initiatives and regulatory engagement activities.

Career Growth

Progression to director-level positions typically occurs within 3-5 years with demonstrated success in large-scale model development programs and team leadership. Partner-level roles may require 5-7 years of consistent performance and business development capabilities.

Potential Next Roles

Risk Management Director positions overseeing enterprise-wide risk modeling and validation functions Chief Risk Officer roles in mid-size financial institutions or specialized risk management firms Partner-level positions within consulting firms specializing in financial services risk management Regulatory affairs leadership roles focusing on model governance and supervisory relationships

Company Overview

EY

EY stands as one of the "Big Four" professional services firms globally, with a comprehensive financial services practice that serves major banks, insurance companies, and investment firms worldwide. The organization's risk consulting division has established itself as a market leader in regulatory compliance and risk management transformation, with particular strength in IRB and IFRS9 model development. EY's global reach and deep industry expertise position it as a preferred partner for complex risk management initiatives.

EY maintains a dominant position in the financial services consulting market, consistently ranking among the top providers of risk management services globally. The firm's reputation for technical excellence and regulatory expertise has made it a trusted advisor to major financial institutions and regulatory bodies. EY's investment in advanced analytics and digital transformation capabilities strengthens its competitive position in the evolving risk management landscape.
Dublin serves as EY's European hub for financial services risk consulting, leveraging Ireland's position as a major international financial center. The Dublin office plays a critical role in supporting both domestic Irish financial institutions and international banks with European operations. The location provides access to a skilled workforce and proximity to major financial centers while offering cost advantages compared to London or Frankfurt.
EY emphasizes a collaborative, learning-oriented culture that values diversity and professional development. The firm's commitment to work-life balance through flexible working arrangements and comprehensive benefits packages supports employee retention and satisfaction. The culture encourages innovation and continuous learning, with significant investment in training and development programs.
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