Model and Python Developer [Senior/Lead Quantitative Risk Analyst]

Job ID: 5167 Model & Python Developer – Counterparty Credit Risk (permanent position) Are you a professional Python developer with a strong quantitative background? Nordea’s Counterparty Credit Risk Models team is looking for individuals who combine solid mathematical understanding with hands-on software engineering skills to help build the next generation of risk models and analytics. About our team Meet the Counterparty Credit Risk Models team. Our role is to develop and maintain models for counterparty credit risk, ensuring compliance with EU CRR regulation and internal governance. Our work spans the full value chain—from interpreting regulatory requirements and analysing market data to modelling, implementation, and aggregation of risk measures. In addition, we design and maintain a central Python-based risk platform, including reusable libraries, model frameworks, and analytical tools. As part of the team, you will contribute to both: Quantitative model development, Robust software engineering, ensuring scalable, maintainable, and high-quality code.

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: You will work at the intersection of quantitative modelling and software engineering, with responsibilities including: Designing and maintaining production-quality Python code and libraries (not just scripts). Developing and implementing counterparty credit risk models, including both methodology and code. Translating quantitative models into robust, scalable software solutions. Performing model validation, performance testing, and data analysis. Building tools for impact analysis, reconciliation, and reporting. Contributing to the evolution of our internal Python ecosystem and architecture. Collaborating closely with risk managers, quants, and IT to ensure high-quality model delivery.

Who you are This is the right role for you if you: Take ownership and deliver high-quality results in a structured way. Are comfortable working both independently and collaboratively. Can translate complex quantitative concepts into well-structured code. Value clean design, testing and maintainability in software development. Are curious, proactive, and motivated to continuously improve.

We seek a hybrid candidate who possesses robust quantitative abilities, proven software engineering expertise, and a genuine interest in advancing their skills in counterparty credit risk modelling. Quantitative background includes: Master’s degree (or higher) in a quantitative field such as: Mathematics, Physics, Mathematical finance, Statistics or similar. Strong understanding of mathematical modelling and numerical methods. Knowledge of derivatives, pricing, or risk management is an advantage.

Software engineering (Python) includes: Professional experience as a Python developer (not only analytical scripting). Ability to design, structure, and maintain modular, production-grade software systems. Professional experience with: Code architecture and design patterns. Version control and collaborative development. Testing frameworks and code quality practices. Interest in building reusable frameworks and tools, not only one-off analyses.

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 14/07/2026. For more information, you’re welcome to contact Johan Sandberg, Head of Counterparty Credit Risk Models at johan.sandberg@nordea.com. We enable dreams and aspirations for a greater good. We build relationships. We add a personal touch to everything we do – when advising our customers, collaborating with colleagues, and meeting our potential candidates. We learn and develop. We take pride in being experts and thinking ahead. We use our expertise to meet our customers’ needs, from the simplest to the most complex. We bring a growth mindset to our work that enables us to focus on a broader perspective in our daily challenges. We lead change. We are responsible and aware of the impact of our decisions, both for our customers and for our local and global communities. Mindful of our responsibility towards current and future generations, we have made sustainability an integrated part of our business strategy. 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.