Join ING's Model Risk Management Department as an intern and gain valuable experience in the dynamic field of model risk management. As an intern, you will have the opportunity to work with a diverse and energetic team of highly qualified professionals, contributing to the validation and improvement of risk models used across ING.

The team

The Model Risk Department plays a vital role in safeguarding the quality and reliability of models used throughout ING. Models are critical for decision-making processes across various risk domains. The department's mission is to ensure that these models are fit for purpose, comply with regulations, and provide accurate insights for effective risk management.

The department covers four different areas of validations.  

• The Banking Book Tribe focuses on interest rate risk, asset & liability management, capital & liquidity adequacy, and client behavioral models (e.g., mortgage prepayment and deposit withdrawal).
• The Business Operations and Analytics Tribe validates machine learning models and rule-based models aimed at fraud detection and anti-money laundering.
• The Credit Risk Tribe focuses on credit risk models, including IFRS9 models, which determine expected loan losses and provisions, and internal ratings-based models (e.g., probability-of-default and loss-given-default models).
• The Trading Book Tribe covers trading risk models (e.g., Value-at-Risk), counterparty credit risk models (e.g., potential future exposure and initial margin models) and derivative pricing models.

Roles and responsibilites

This internship project focuses on applying the concepts from the article "Explainability Is Not a Game" to enhance the explainability of machine learning-based transaction monitoring models. The goal is to ensure that the feature attributions provided by the newly proposed nuSHAP method are accurate and trustworthy.

Objectives:

Understand the Transaction Monitoring Model:

• Gain familiarity with the machine learning models used for transaction monitoring, such as XGBoost.
• Analyze the features used in these models.

Implement nuSHAP for Feature Attribution:

• Apply the nuSHAP method to the machine learning model to determine the importance of different features.
• Evaluate the accuracy of these attributions and identify any misleading feature importance scores.

Compare nuSHAP with Original SHAP:

• Conduct a comparative analysis of the feature attributions provided by nuSHAP and the original SHAP method.
• Assess the consistency, reliability, and accuracy of feature attributions between the two approaches.

Documentation and Reporting:

• Document the methodology, findings, and improvements made during the project.
• Prepare a final report and presentation summarizing the project outcomes, including recommendations for integrating the improved explainability methods.

Expected Outcomes:

• Enhanced understanding of the limitations of Shapley values in explainable AI.
• Improved feature attribution methods for machine learning-based transaction monitoring models

How to succeed

We hire smart people like you for your potential. Our biggest expectation is that you’ll stay curious. Keep learning. Take on responsibility. In return, we’ll back you to develop into an even more awesome version of

We are looking for a data scientist to generate stratified data and to prototype new algorithm to improve transaction monitoring. As a member of our team, you are:

• Currently pursuing a master's degree in a quantitative field, such as Econometrics, Mathematics, Physics, or a related discipline.
• Equipped with strong analytical and problem-solving skills, demonstrating a keen interest in quantitative analysis and modeling.
• Comfortable with programming languages such as Python, R, or SAS, enabling you to handle data and conduct analyses efficiently.
• Possessing a good understanding of statistical concepts and quantitative methods, providing a solid foundation for risk modeling.
• Knowledge of machine learning and explainable AI concepts
• Exhibiting excellent written and verbal communication skills in English
• Proactive with the ability to work independently and collaborating effectively within a team environment.

Why join us?

• Gain hands-on experience in model risk management and validation within a leading global bank.
• Work alongside experienced professionals and learn from their expertise in various risk domains.
• Contribute to the ongoing improvement and enhancement of risk models across ING.
• Explore a wide range of models and risk areas, expanding your knowledge and skill set.
• Embrace a culture of innovation, continuous learning, and professional development.

Rewards and benefits

This is a great opportunity to train with highly skilled people who are experts in their field. You’ll do a lot and learn a lot – not only about your specialist area and the bank, but also about yourself and whether this type of environment is right for you.

You’ll also benefit from:

• Internship allowance of 700 EUR based on a 36 hours work week

• Your own work laptop

• Hybrid working to blend home working for focus and office working for collaboration and co-creation

• Personal growth and challenging work with endless possibilities

• An informal working environment with innovative colleagues

During the duration of your internship at ING, it is mandatory to be enrolled at a Dutch university (or EU-university for EU passport holders).

Questions?

Contact the recruiter attached to the advertisement. Want to apply directly? Please upload your CV and motivation letter by clicking the ‘Apply’ button.

Interested to learn more?

If you are excited about the prospect of contributing to the Model Risk Management Department's mission and gaining practical experience in the field of model risk management, apply today. Join ING and be part of a team that is shaping the future of risk management in the banking industry.

About our internships

Every year, more than 350 students join our internship program. While there are no guarantees about your future, many of our former interns move into a permanent role or onto our International Talent Programme (traineeship).

Whatever happens, an internship at ING is the ideal opportunity to meet a wide variety of people, to build up your own network, and to learn about many different aspects of banking – put simply, it’s a great start to your career