Curriculum Vitae
Personal information
First name(s) / Surname(s)
Marco Stella
Company
Prometeia SpA
Seniority level
Work experience
Senior Partner: 20+ Years of Experience
Dates
From 06/2006 to Present (Prometeia SpA)
Occupation or position held
I have covered different roles, from Junior Consultant, when I joined Prometeia in 2006, up to the current position of Senior Partner (since 2023). Since 2012 I work in the International Practice.
Within Prometeia, I currently cover the role of Global Head of Credit Risk Competence Line, in charge of following regulatory projects in the international market and providing supervision and quality assurance, alongside with being responsible for innovation.
Contract Professor at the Master’s Degree in Quantitative Finance at Bologna University (since 2025), Credit Risk Modeling course Lecturer at the PgD in Finance, Insurance and Risk Management at Collegio Carlo Alberto, University of Turin (2017-ongoing), in particular, I am responsible for the course on IRB modeling and Stress Testing.
Responsible for several IRB and Basel II training programs for Banks, conferences and Prometeia’s professionals.
Participant and speaker in credit risk models-related workshops and conferences and respondent to Regulatory Consultation Papers
Main activities / responsibilities
Strong quantitative background, with MSc in Economics and PgD in Statistics and Data Mining, I have always worked in the Credit Risk field, with a strong focus on IRB models development, validation, regulatory compliance and related topics. My expertise covers also models’ implementation topics and in general Basel 2 IT infrastructure, Data Quality as well as credit processes (e.g. use test and use of models into the banking processes, such as Early Warning, Credit approval / origination, limit setting, collection, etc.) and ICAAP. In the last 10 years I have led several IRB-compliance programs for EU and extra-EU Institutions and I have dedicated most of my time to the development of IRB and IFRS9 models for Low Default Portfolios, covering all Pillar 1 parameters (i.e. PD, LGD and CCF) as well as all portfolios (from Retail to SME, Large Corporate, FI, Sovereign, Specialized Lending, etc.), with coordination roles, in charge for supervision and quality assurance as well as performing operational activities.. I have also supported local Regulators (i.e. Russia and Turkey) in the design of their IRB approval frameworks and I have provided training to their professionals on IRB topics.
Extensive knowledge of all the relevant Regulations (IRB, IFRS9, etc.), such as CRR, EBA GLs on PD, LGD and the treatment of Defaulted Exposures, ECB Guide to On-Site Inspections and Internal Models Investigation, Stress Test, Climate Risk, Loan Origination and Monitoring, New DoD, etc.
Long-term international (i.e. involved in local projects) experience in Austria, Germany, United Kingdom, Netherlands, Denmark, Luxembourg, Ireland, Croatia, Bulgaria, Canada, USA, United Arab Emirates, Saudi Arabia, Russia, Turkey, Egypt, Tunisia and in the context of Regulators and Supervisors, Commercial as well as Multilateral Development Banks.
The following section describes some of the projects I took part in. For the sake of brevity, the list is not exhaustive, as only a selection of the most significant and recent projects is listed below; moreover, the most recent (i.e. last 10-years projects) are detailed, while the previous projects (i.e. before 2012) are only summarized.
Project data / time frame
10/2025 to 12/2025 – Copenhagen (Denmark)
Support to the ECB in the IMI for PD Retail model of a G-SIB
Role: senior manager
My main tasks where related to
- Default Definition
- Risk Quantification
- Application scorecards
- Margin of Conservatism
Project data / time frame
05/2025 to ongoing – London (UK)
Development of IFRS9 and IRB PD models for all non retail segments for a British SI
Role: supervision, methodology definition and quality assurance
Activities:
- Definition of framework and methodology
- Review and quality assurance
Project data / time frame
10/2024 to ongoing – New York / Toronto (USA / Canada)
Development of IRB LGD Project Finance Models for a North American SI
Role: supervision, methodology definition and quality assurance
Activities:
- Definition of framework and methodology
- Review and quality assurance
Project data / time frame
07/2024 to ongoing – Dubai (UAE)
Validation of all IFRS9 models for all segments (PD, LGD, CCF) for a UAE SI
Role: supervision, methodology definition and quality assurance
Activities:
- Definition of framework and methodology
- Review and quality assurance
Project data / time frame
04/2023 to 09/2023 – Milan / Verona (Italy)
Development of Slotting Criteria approach for IPRE and PF for an Italian SI
Role: supervision, methodology definition and quality assurance
Activities:
- Definition of framework and methodology
- Operational support for scorecard estimation and calibration
- Review and quality assurance
Project data / time frame
09/2022 to 12/2022 – Amsterdam (Netherlands)
Support to the ECB in the IMI for PD FI model of a G-SIB
Role: senior manager
My main tasks where related to
- Assessment of assignment to exposure classes
- Rating Assignment Review (overall process)
- Data Quality
- Report drafting (related to the parts I was in charge for)
Project data / time frame
03/2022 to 06/2022 – Istanbul (Turkey)
Preparation of IRB Submission to BRSA (IRB “pre-validation”) for a Turkish D-SIB
Role: methodology design, supervision and quality assurance
Activities:
- Definition of the roll-out plan
- Wide range analysis of compliance against local IRB Regulation, ranging from IT infrastructure and data quality, to processes (e.g. Use Test), governance and models
- Focus on LGD and EAD models audit for Retail and Corporate
- Gap analysis and remediation plan
- Supervision, quality assurance and support in the dialogue with the local Regulator
Project data / time frame
03/2022 to 06/2022 – Istanbul (Turkey)
Development of an enhanced Early Warning / monitoring model for 2 different Turkish D-SIB
Role: methodology design, supervision and quality assurance
Activities:
- Design of the enhanced EWS model/framework (including ML techniques)
- Design of the enhanced early collection model/framework (including ML techniques)
- Design of the Income Estimation and Limit Setting enhanced framework (including ML techniques)
- Integration of such models into the daily processes
- Deployment to production
- Processes optimization
Project data / time frame
02/2022 to 03/2022 – Modena (Italy)
Development of an enhanced Early Warning / monitoring model for an Italian D-SIB
Role: methodology design, supervision and quality assurance
Activities:
- Resolution of findings issued by the ECB pertaining the EW System
- Design of the enhanced EWS model/framework (including ML techniques)
- Design of the enhanced early collection model/framework (including ML techniques)
- Integration of such models into the daily processes
- Deployment to production
- Processes optimization
Project data / time frame
02/2022 to 03/2022 – Dublin (Ireland)
Data Quality and IRB Large Corporate PD model validation for an Irish D-SIB
Role: validation supervision and quality assurance
Activities:
- Analysis of input data and data quality
- Model validation and benchmarking (IRB model to be submitted to the ECB for approval)
- New DoD and EBA GLs prescriptions validation
- Model documentation inspection, qualitative and quantitative analysis
- Model outputs, estimation techniques and codes inspection
- Preparation of the final decision report and material changes
Project data / time frame
01/2022 to 03/2022 – Turin (Italy)
Support in the IRB PD FI model re-development following MMC for an Italian G-SIB
Role: methodology design, supervision and quality assurance
Activities:
- Methodological framework design to remediate the ECB findings of the previous IMI
- New DoD and EBA GLs prescriptions implementation
- Support in the model development
- Impact analysis and validation tests
- Support in the preparation of the IRB submission
Project data / time frame
09/2021 to 03/2022 – Vienna (Austria)
Support in the IRB LGD models redevelopment for Retail portfolios for an Austrian G-SIB
Role: methodology design, supervision and quality assurance
Activities:
- Methodological framework design to remediate the ECB findings of the previous IMI
- Support in the model development
- Development of all the components (LGD performing and DA models, downturn, ELbe, MoC, etc.)
- Impact analysis and validation tests
- Support in the preparation of the IRB submission
Foreseen support during the Regulatory approval process (interrupted)
Project data / time frame
09/2021 to 12/2021 – Dublin (Ireland)
Data Quality and IRB PD and LGD models validation for Retail and Corporate segments for an Irish D-SIB
Role: validation supervision
Activities:
- Analysis of input data and data quality
- Model validation and benchmarking (IRB model to be submitted to the ECB for approval)
- New DoD and EBA GLs prescriptions validation
- Model documentation inspection, qualitative and quantitative analysis
- Model outputs, estimation techniques and codes inspection
- Preparation of the final decision report and material changes
Project data / time frame
04/2021 to 06/2021 – Turin (Italy)
Support in the IRB PD model re-development for IPRE (local and global) following MMC for an Italian G-SIB
Role: methodology design, supervision and quality assurance
Activities:
- Methodological framework design to remediate the ECB findings of the previous IMI
- New DoD and EBA GLs prescriptions implementation
- Support in the model development
- Impact analysis and validation tests
- Support in the preparation of the IRB submission
Project data / time frame
01/2021 to 12/2021 – Moscow (Russian Federation)
Data Quality and IRB Large Corporate PD model validation for Russian G-SIB (local LE of an Austrian G-SIB)
Role: methodology design, supervision and quality assurance
Activities:
- Definition of the roll-out plan
- Wide range analysis of compliance against local IRB Regulation, ranging from IT infrastructure and data quality, to processes (e.g. Use Test), governance and models
- Support in the development of PD, LGD and EAD models for Retail portfolios
Supervision, quality assurance and support in the dialogue with the local Regulator
Project data / time frame
01/2021 to 06/2021 – Munich (Germany)
Data Quality and IRB PD and LGD models validation for the German LE of an Italian G-SIB
Role: validation supervision and quality assurance
Activities:
- Analysis of input data and data quality
- Model validation and benchmarking (IRB model to be submitted to the ECB for approval)
- New DoD and EBA GLs prescriptions validation
- Model documentation inspection, qualitative and quantitative analysis
- Model outputs, estimation techniques and codes inspection
- Preparation of the final decision report and material changes
Project data / time frame
09/2020 to 12/2020 – Vienna (Austria)
Support in the development of a Real Estate valuation model for an Austrian G-SIB
Role: methodology design, supervision and quality assurance
Activities:
- Methodological framework definition
- Support in the model development
- Impact analysis and validation tests
- Support in the implementation in the IT infrastructure and integration into the approval and monitoring processes
Project data / time frame
04/2020 to 12/2020 – Vienna (Austria)
Support in the development of Machine Learning model for EW/monitoring for an Austrian G-SIB
Role: methodology design, supervision and quality assurance
Activities:
- Methodological framework definition
- Support in the model development
Support in the implementation in the IT infrastructure and integration into EWS
Project data / time frame
03/2020 to 06/2021 – Sofia (Bulgaria)
Support in the IRB LGD models re-development for Retail and Corporate portfolios for the Bulgarian LE of an Italian G-SIB
Role: methodology design, supervision and quality assurance
Activities:
- Methodological framework design to remediate the ECB findings of the previous IMI
- Support in the model development
- Development of all the components (LGD performing and DA models, downturn, ELbe, MoC, etc.)
- Impact analysis and validation tests
- Support in the preparation of the IRB submission
Project data / time frame
10/2019 to 07/2020 – Bergamo (Italy)
Review of the IRB models validation framework following MMC and design & implementation of the yearly process of ongoing validation reporting for IRB models (ECB validation reporting) for an Italian D-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Design of the internal validation framework for all IRB models and parameters (PD, LGD, LGD DA, ELBE, CCF, Slotting) following MMC
- Internal validation of all IRB models and parameters (for all portfolios)
- Full automation of the internal validation process
- Design, implementation and first run of all the ECB validation tests (qualitative and quantitative) for all models/segments and parameters
- Harmonization of results of internal validation process and ECB validation reporting
- Preparation of the package to be the delivered to the ECB
- Support in the dialogue with the ECB for validation framework and models validation approval
Project data / time frame
05/2019 to 09/2019 – Vienna (Italy)
Design and estimation of Rating models for SME/Corporate portfolios for German and Austrian markets for the Austrian LE of a Turkish G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Design of the methodological framework for models estimation (including segmentation and business requirements)
- Estimation of 4 rating models
- Integration of the models into the IT infrastructure and origination/monitoring process
- Preparation of the package to be submitted to ONB and support during the inspection
Project data / time frame
01/2019 to 02/2020 – Moscow (Russian Federation)
IRB LGD models re-development for Retail portfolios for a Russian G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Methodological framework design to remediate the ECB findings of the previous IMI
- Support in the model development, including innovative framework for traditional (i.e. IRB) as well as Machine Learning (i.e. managerial) models estimation
- Development of all the components (LGD performing and DA models, downturn, ELbe, MoC, etc.)
- Impact analysis and validation tests
- Support in the preparation of the IRB submission
- Support during the Regulatory approval process
Project data / time frame
01/2019 to 06/2019 – Vienna (Austria)
Review of the IRB models validation framework following MMC and design & implementation of the yearly process of ongoing validation reporting for IRB models (ECB validation reporting) for an Austrian G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Design of the internal validation framework for all IRB models and parameters (PD, LGD, LGD DA, ELBE, CCF, Slotting) following MMC
- Internal validation of all IRB models and parameters (for all portfolios, including LDPs)
- Full automation of the internal validation process
- Design, implementation and first run of all the ECB validation tests (qualitative and quantitative) for all models/segments and parameters
- Harmonization of results of internal validation process and ECB validation reporting
- Preparation of the package to be the delivered to the ECB
- Support in the dialogue with the ECB for validation framework and models validation approval
Project data / time frame
01/2019 to 06/2020 – Milan (Italy)
IRB LGD and CCF models development for all GW segments for an Italian G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Design of the development framework for all IRB Group Wide LGD and CCF/EAD models following MMC
- Support in the design of the validation framework for all IRB Group Wide LGD and CCF/EAD models following MMC
- Models development, calibration, testing and impact simulation
- Preparation of the package to be the delivered to the ECB
- Support in the dialogue with the ECB for approval
Project data / time frame
06/2018 to 06/2019 – Zagreb (Croatia)
Support in the IRB LGD models development for Retail and Corporate portfolios for the Croatian LE of an Italian G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Methodological framework design to remediate the CNB findings of the previous Inspection
- Support in the model development
- Development of all the components (LGD performing and DA models, downturn, ELbe, MoC, etc.)
- Impact analysis and validation tests
- Support in the preparation of the IRB submission
- Implementation of the model for IFRS9 / LEL purposes
Project data / time frame
01/2018 to 12/2018 – Moscow (Russian Federation)
Support in the IRB preparation for several local G-SIB and local LE of European G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Definition of the roll-out plan
- Wide range analysis of compliance against local IRB Regulation, ranging from IT infrastructure and data quality, to processes (e.g. Use Test), governance and models
- Gap analysis and remediation plan
- Supervision, quality assurance and support in the dialogue with the local Regulator
Project data / time frame
09/2017 to 02/2018 – Vienna (Austria)
Support in the IPRE model estimation of the Austrian LE of a Russian G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Design of the methodological framework for models estimation (including segmentation and business requirements)
- Estimation of 6 rating models, one for each LE in CEE
- Integration of the models into the IT infrastructure and origination/monitoring/provisioning process
- Preparation of the package to be submitted to local Regulators and support during the regulatory approval process
Project data / time frame
05/2017 to 12/2017 – Tunis and Abidjan (Tunisia and Ivory Coast)
Support in the rating models development for all portfolios for an African MDB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Design of the methodological framework for models estimation
- Estimation of 6 rating models (Equity, Commercial Banks, Development Banks, Project Finance, Large Corporate, Sovereign)
- Integration of the models into the origination/monitoring process
Project data / time frame
01/2017 to 06/2017 – Vienna (Austria)
Support in the IFRS9 LGD and EAD models development for all Corporate portfolios for an Austrian G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Design of the methodological framework for models estimation
- Estimation of 8 set of LGD and CCF models (Equity, Municipalities, FI, Project Finance, Large Corporate, SME, SB, Sovereign)
- Estimation of LGD and CCF satellite models for PiT LGD
- Support in the models validation
- Integration of the models into the provisioning process
Project data / time frame
01/2015 to 12/2016 – Istanbul (Turkey)
Support in the IRB preparation for several local G-SIB and local LE of European G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Definition of the roll-out plan
- Wide range analysis of compliance against local IRB Regulation, ranging from IT infrastructure and data quality, to processes (e.g. Use Test), governance and models
- Gap analysis and remediation plan
Supervision, quality assurance and support in the dialogue with the local Regulator
Project data / time frame
06/2014 to 09/2014 – Moscow (Russian Federation)
Support in the IRB approval framework of the local Regulator and FIRB pre-validation of the local LE of an Austrian G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Definition of the OSIs and IMIs framework
- Training to CB-RF professionals
- Set-up and implementation of the IRB approval framework
- First run for the FIRB pre-approval of the local LE of a EU G-SIB
Outcome letter and findings draft
Project data / time frame
01/2014 to 12/2014 – Moscow (Russian Federation)
Support in the IRB preparation for several local G-SIB and local LE of European G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Definition of the roll-out plan
- Wide range analysis of compliance against local IRB Regulation, ranging from IT infrastructure and data quality, to processes (e.g. Use Test), governance and models
- Gap analysis and remediation plan
- Supervision, quality assurance and support in the dialogue with the local Regulator
Project data / time frame
06/2013 to 03/2014 – Moscow (Russian Federation)
Support in the IRB LGD and CCF models development for Corporate and Retail portfolios for the local LE of an Italian G-SIB
Role: methodology design, operations execution, coordination, supervision and quality assurance
Activities:
- Methodological framework design
- Support in the model development
- Development of all the components (LGD performing and DA models, downturn, ELbe, etc.)
- Impact analysis and validation tests
- Support in the preparation of the IRB submission
Project data / time frame
01/2013 to 06/2013 – Vicenza (Italy)
Support in the IRB PD, LGD and CCF models development for Corporate and Retail portfolios for an Italian D-SIB
Role: operations execution, coordination, supervision and quality assurance
Activities:
- Methodological framework design
- Support in the model development
- Impact analysis and validation tests
- Support in the preparation of the IRB submission
Project data / time frame
05/2012 to 03/2013 – Zagreb (Croatia)
Support in the IRB LGD models development for Retail mortgage portfolio for the Croatian LE of an Italian G-SIB
Role: operations execution and coordination
Activities:
- Support in the model development
- Impact analysis and validation tests
- Support in the preparation of the IRB submission
Project data / time frame
01/2012 to 12/2012 – Bologna (Italy)
Support in the PD, LGD and EAD models development for Retail and Corporate portfolios for a Consortium of over 70 Italian LSIs
Role: operations execution and coordination
Activities:
- Support in the model development
- Impact analysis and validation tests
- Support in the implementation into the centralized IT infrastructure
Project data / time frame
06/2006 to 12/2011 – Several cities (Italy)
Support in the PD, LGD and EAD models development for Retail and Corporate portfolios for several Italian D-SIB, including process-related project and full IRB plans
Role: operations execution
Activities:
- Support in IRB models development
- Support in IRB models validation
- Support in the design and deployment of models for managerial processes (e.g. loan approval, limit setting, delegation matrix, stress test, credit strategies, etc.)
