Model Validation Lead

The Model Validation Lead will be a key part of the second line function, reporting to the Head of Model Validation. This role involves independent validation of risk and valuation models, and continuous improvement of the Model Risk Management Framework. Responsibilities include reviewing model design, implementation, documentation, replication, and benchmarking. The lead will collaborate with stakeholders to translate quantitative insights into strategic recommendations, working across all models within Nasdaq Clearing to ensure robustness, reliability, and compliance, directly supporting financial stability.

Must Have

• Strong academic background in mathematics, physics, engineering, or finance.
• 5-10 years of experience in quantitative financial risk management, ideally derivatives.
• Experience from banks/financial firms, familiar with credit, market, capital, and liquidity models.
• Hands-on experience with Python or similar tools.
• Deep understanding of model validation techniques (backtesting, sensitivity, stress testing).
• Critical, analytical mindset.
• Excellent communication skills.
• Self-driven with integrity.

Perks & Benefits

• Interesting work with friendly colleagues from the Baltics and Nordics, who are willing to share their extensive experience
• Unlimited access to e-learning platforms, offering continuous and extensive learning opportunities
• Internal Mentorship program - learn from an employee you look up to
• Nasdaq's Flex Day program (additional 6 paid leave days a year)
• Annual monetary bonus and other benefits such as sports club membership compensation
• Comfortable and modern working environment

What will you be doing?

As Model Validation Lead, you will be part of the second line function and report to the Head of Model Validation. The team is responsible for the independent validation of risk and valuation models, as well as for developing and continuously improving the Model Risk Management Framework.

You will play a key role in ensuring that Nasdaq Clearing’s models are robust, reliable, and compliant. This includes reviewing model design, implementation, and documentation, as well as replicating and benchmarking models. You’ll work closely with model owners, external validators, and senior stakeholders—translating complex quantitative insights into clear, strategic recommendations.

You’ll work across all models used within Nasdaq Clearing—not just one and You’re encouraged to question, critique, and improve models. This is a non-operational, independent role with deep analytical tasks and our work directly supports financial stability and risk management in the derivatives clearing space.

Requirements:

• A strong academic background in mathematics, physics, engineering, finance or similar
• 5-10 years of experience within quantitative financial risk management, ideally from derivatives in various asset classes
• Experience from banks, credit institutions, or other financial firms and have familiarity with credit risk, market risk, capital and liquidity models
• Hands-on experience with Python or similar tools
• Deep understanding of model validation techniques such as backtesting, sensitivity testing, and stress testing
• A critical, analytical mindset
• Excellent communication skills and the humility to challenge others constructively
• A self-driven with the integrity to stand by your assessments

What do we offer you

• Interesting work with friendly colleagues from the Baltics and Nordics, who are willing to share their extensive experience
• Unlimited access to e-learning platforms, offering continuous and extensive learning opportunities
• Internal Mentorship program - learn from an employee you look up to
• Nasdaq's Flex Day program (additional 6 paid leave days a year)
• Annual monetary bonus and other benefits such as sports club membership compensation
• Comfortable and modern working environment

Does this sound like you?

We value our talented employees, and whenever possible strive to help one of our associates grow professionally before recruiting new talent to our open positions. If you think the open position, you see is right for you, we encourage you to apply!

This is a full-time permanent position located in Stockholm. Nasdaq offers you a hybrid workplace to find a balance between working from home and collaborating in the office, therefore it's required to come into the office at least 3 days per week.