Deel uitmaken van de teams van Dexia

Het beheer in afbouw van de groep Dexia biedt je de mogelijkheid om een unieke en boeiende ervaring op te doen

Ben je op zoek naar nieuwe, stimulerende en boeiende uitdagingen? Wil je je loopbaan in een stroomversnelling brengen door je vaardigheden verder te ontwikkelen? Zou je graag je inzetbaarheid een boost geven in een dynamische en leerrijke omgeving? Je profiel interesseert ons!

Job description

The primary role of an analyst is to monitor and to analyse credit risks for all local public sector assets within the portfolio, in line with the strategies defined by the Risk Management dept and in collaboration with all other departments of the bank.


  • Handle the annual rating process for portfolio counterparties for which the candidate is responsible, with a focus on the international public sector counterparties (Italy, Spain, Japan, UK, US and others).
  • Risk monitoring and financial analysis of counterparties (local authorities, private and public satellites…).
  • Drafting periodic investment/ scoring and/or individual annual reviews.
  • Updating quarterly reviews of sensitive files within the scope, presentation of files and recommendation proposals for the Watchlist Committee.
  • Ensuring the processing of proposals submitted to the Transaction Committee.
  • Sector and institutional monitoring (news on local finances, tracking finance laws, etc.).
  • Drafting cross-functional sectoral studies, linked with the current events happening in the sector or the needs of the bank;
  • Participate in cross-functional projects that involve the CEC local public sector, other Risk departments and/or other departments in the bank.

Profil recherché

Desired profile :

  • You are a graduate with BAC [Secondary education qualification] + 5 years’ training at a Business school/IEP/University with a finance specialisation or you are an engineer with additional training in finance.
  • You have excellent analytical and summary skills as well as solid financial analysis and risk analysis skills.
  • You have a very good command of office applications, notably Excel and Business Object.
  • You are meticulous, hard-working, responsive, a team player and have great interpersonal skills.
  • You already have initial experience in the field as a credit analyst, ideally linked to the public sector.
  • You have a very high level of spoken and written English, ideally the candidate will also be able to speak Italian, Japanese and/or Spanish (although this is not mandatory for the position).

Job description

Among the main responsibilities of RMQD are:

- Developing, backtesting and stresstesting of quantitative credit risk models (e.g. probability of default), in the context of IFRS 9 provisioning and for internal risk assessment, for all asset classes in the Dexia portfolio.

- The annual production of the internal capital assessment (ICAAP) covering all risk types. Full production of the credit risk assessment via portfolio risk models. Transversal responsibility with other teams to collect input for other risk types (market risk, operational risk, climate risk, …) and to integrate all risks in the final overall risk assessment.

- Developing and backtesting of models translating forward looking macro-economic scenarios into credit risk impacts.

- Strategic planning and capital projection under different scenarios for the full Dexia portfolio, taking into account economic and regulatory constraints, and considering specific risks at portfolio level such as correlation and concentration risk.

The position involves state-of-the-art modelling and data science for active risk management. This is a perfect first experience in quantitative risk management, in a multicultural environment within a highly motivated team.

Profil recherché

University degree with a strong quantitative orientation (mathematics, commercial engineering, physics, statistics, data science).

Strong programming skills are required.

  • Profound knowledge of English and French are required.
  • Experience in Financial Mathematics, Risk & Financial Engineering is a plus but not a requirement.
  • Desired experience: none
  • Specialization: Finance, Mathematics, Physics
  • Spoken languages: French, English
  • Level of study: Bac+5 and more
  • Degree: MASTER 2, MBA

Job description

Within the Risk Department, you will work in the RMQD (Risk Models, Quantification and Defaults) team. The RMQD team is responsible
for the development and use of all quantitative credit risk models, both at counterparty and portfolio level. The development is based on advanced statistical and mathematical modelling. The models are used by the RMQD team itself for key regulatory and strategic exercises, ranging from quarterly IFRS9 expected credit loss calculations, projections of the key risk measures in the financial plan, stress testing and the integrated ICAAP file of the bank. More specifically, the projects cover:

• The development, maintenance and backtesting of the internal credit risk models, which are used for analyzing the counterparty-level credit risk in the Dexia Portfolio. This implies the construction of rating migration, PD and LGD models, covering the whole process from data collection & treatment, discrimination analysis and calibration of the risk levels up to implementation (both long-term Through-The- Cycle and Point-In-Time macro-economic models).
• The calibration of the parameters of the internally developed portfolio management tool which assesses the portfolio tail risk (Credit Value-at-Risk, VaR). These include a.o. the calibration of stochastic PD and LGD, the asset correlation structure and global maintenance/updates of the portfolio management tool to reflect the portfolio’s risk dynamics.
• The production of strategic long-term and/or stress test results for top management. The RMQD team assists in the development of the different base and stress scenarios and is responsible for the calculation of all credit risk impacts (a.o. losses in case of default, IFRS9 provisions, risk-weighted assets). On other risks (such as operational and market risk) the RMQD team is responsible for the collection and aggregation of the relevant results from the other Risk teams in order to produce the global risk view across the bank and its entities
under all base and stress scenarios.
• The development and follow-up of the credit risk indicators within Dexia’s Risk Appetite Framework.

All the above mentioned models and tools are built and maintained within RMQD inside the Matlab environment, while the data
treatment is mainly based on SQL.

Profil recherché

• You hold a University degree with a quantitative and/or financial background (business/financial engineer, civil engineer, physicist,
mathematician, etc.).
• You speak english, french and dutch.
• You have at least 3 years of experience in risk quantification and/or Credit risk in a bank or financial institution, or have an equivalent
working experience, such as a PhD in your domain.
• You have a good knowledge on statistics/mathematics, as well as in financial products & markets and/or credit risk, or are willing to invest
in the latter.
• You are comfortable with programming/model development in Maltab (or equivalent tools like Python) and SQL.
• You are able to push the team forward and contribute to the team dynamics, while at the same time being able to work on an individual
• You are able to focus on finding effective solutions that are applicable for Dexia’s business, in a changing economic and regulatory


Job description

The post holder will be tasked with analysing and improving market risk indicators in order to render an appropriate image of the risk profile of Dexia Crédit Local and the Dexia Group.

The post holder will be responsible for all or part of the following tasks:

  • Identifying the market risks for the activities for which the post holder tracks, developing measurement indicators and market risk monitoring indicators, particularly VaR, stress tests and economic equity.
  • Updating "policies", "guidelines", methodologies and procedures facilitating the proper documentation of activities.
  • Ensuring application complies with the prudential framework (management of the internal GIRR model, calculations of equity requirements, etc.).
  • Measuring and analysing the risk indicators and financial performance indicators according to the relevant schedule and the quality level and traceability level set out.
  • Daily monitoring of limits and escalating where exceeded.
  • Periodically checking the non-significance of unmodelled risks; periodically checking the relevance of hypotheses and short cuts taken in the different models.
  • Following the regulatory developments and simulating the impacts thereof.
  • Participating in the improvement of production and reporting tools.
  • Participating in the modelling of new risks linked to new products.

Profil recherché

We are looking for a candidate with a BAC qualification +5 years specialising in market finance. 

A minimum of 3 years' experience in financial markets is required.

Good command of Excel, VBA and ACCESS is expected.

We are seeking candidates with an excellent command of both written and spoken English.