Working at SNS Bank

Working At… SNS Bank

Ivo Erkens is currently working as a risk manager in the Model Validation Department of SNS Bank. In this Working At, Ivo will talk about why he chose a career in Finance at SNS Bank.

 Where do you come from and what did you study?
I am from Kerkrade, all the way in the south of Limburg. In high school, I really enjoyed physics and mathematics but it was also keenly interested in economics. When I went to college, I had to choose between the two fields. I finally decided to go for physics, assuming correctly that I would always be able to make the switch to finance later in my career. So when I was 18, I moved to Eindhoven where I still live today and started studying Applied Physics at the Eindhoven University of Technology. I graduated in 2008 and started looking for my first real job in the industry. Unfortunately, by this time the credit crunch was well under way, and none of the companies I wanted to work for were hiring. I also considered going to work for a financial institution but those prospects didn’t look very good either. Therefore, I contacted some of my college professors, and finally ended up doing a PhD in the field of nanotechnology. Although it was not what I had planned, I had an amazing time and I learned a great deal that still benefits me today.

Why did you choose SNS Bank?
After finishing my PhD I was again presented with the choice between a career in technology or finance. In the end, my curiosity about the financial sector won and I started looking for a job at a bank. I had several interviews with different banks and recruitment agencies and it quickly became clear to me that SNS suited me best. Mostly, this has to do with the open and informal atmosphere. At that time (2014), the company was undergoing a major transition after the government takeover and the subsequent separation of the bank and the insurance company. Although this was a turbulent time, I truly enjoyed the energy and the opportunities that the transition provided. A lot of policies and processes that were in place were re-examined, which made it possible for me to show a lot of initiative.

What do you do at SNS Bank?
I work as a Risk Manager in the Model Validation department. This department is responsible for reviewing and approving the level of risk in the mathematical/stochastic models that are used by the bank. This includes models such as Value at Risk calculations, Credit Risk models and pricing models. What I love most about my job is the research autonomy it allows, and the diversity of the projects. Within a few years, you are familiar with almost every aspect of the bank. Another advantage of my work is that I get to interact with modeling experts from many different departments and learn from them.

Why would you recommend working at SNS Bank?
First of all, SNS offers a lot of opportunities for young people who are at the beginning of their careers in finance. The bank offers a range of positions from accounting to risk or sales. Furthermore, starting salaries are excellent and the working environment is really nice. Colleagues are friendly and helpful, the main office is located conveniently across the street from Utrecht main station, and you are encouraged to work from home one or two days a week. Another benefit that I find very important is the lifelong learning program, which provides a personal education budget. This allows you to improve your skills and learn new things throughout your career.
Perhaps more important for me however, is the customer friendly manifest of SNS Bank. In the recent past, banks have received a lot of bad press, perhaps partly justified. This made me consider very thoroughly whether or not I really wanted to work for a financial institution. I found out however, that the need for a change has really landed at SNS. The interests of the customer are truly placed first, above the commercial interests of the bank. I witnessed this positive attitude during an assessment of the mortgage application procedure, where it became clear that very profitable loans that post high risks for the customer are systematically turned down. For me, this socially responsible manifest is very important, which makes SNS Bank an ideal employer for me.

If you would like to get more information on working at SNS Bank or if you would like to set up a meeting? Visit https://www.snsbanknv.nl/werken-bij.