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- Tasks: Validate pricing models for Interest Rate Derivatives and engage with key stakeholders.
- Company: Join a leading investment bank focused on innovative financial solutions.
- Benefits: Enjoy competitive pay, professional development opportunities, and a collaborative work environment.
- Why this job: Be part of a dynamic team influencing trading strategies and model validation in finance.
- Qualifications: Bachelor's degree or equivalent; PhD in a quantitative field is a plus; coding skills preferred.
- Other info: Engage in strategic initiatives and the New Product Approval Process.
The predicted salary is between 54000 - 84000 £ per year.
The team is responsible for the Validation of Pricing models used in production by the Investment Banking trading desk. It covers all asset classes. In addition, the team is responsible for the validation of other models, like Reserve Methodologies, Fair Valuation Adjustments, the Liquidity Reserve Modelling etc.
Your key responsibilities
- Review and analyse mathematical assumptions of models used in Pricing Interest Rate Derivatives.
- Review implementation methods, products traded in the IR markets, and the associated risks.
- Responsible, where appropriate, for the review of models/payoffs of products independently implemented in a managed library. Python is usually used for testing. Prior knowledge of that would be helpful.
- The outcome of review, analysis and independent implementation forms the basis of discussion with key model stakeholders including Front Office Trading; Front Office Quants; Market Risk Managers.
- Additional responsibilities include active engagement with the due diligence aspects of the New Product Approval Process and involvement in bank wide strategic initiatives.
Your skills and experience
- Educated to Bachelors degree level or equivalent qualification/relevant work experience, a Doctor of Philosophy (PhD) qualification in numerate subject such as Mathematics, Financial Mathematics, Physics or Statistics would be beneficial
- Codding skills would be preferrable.
- Previous work experience in related subjects would be preferrable.
- Ability to communicate within the team and the stakeholders
Senior Model Validation Quant - Interest Rates & Hybrids employer: Morgan McKinley
Contact Detail:
Morgan McKinley Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Model Validation Quant - Interest Rates & Hybrids
✨Tip Number 1
Make sure to brush up on your knowledge of Interest Rate Derivatives and the associated risks. Understanding the nuances of these products will not only help you in the interview but also demonstrate your genuine interest in the role.
✨Tip Number 2
Familiarize yourself with Python, as it's commonly used for testing in this position. Consider working on small projects or exercises that involve model validation to showcase your coding skills during discussions with the team.
✨Tip Number 3
Engage with current trends and challenges in model validation and risk management. Being able to discuss recent developments in the field will set you apart and show that you're proactive about staying informed.
✨Tip Number 4
Prepare to discuss your previous experiences in related subjects. Think of specific examples where you've successfully communicated complex ideas to stakeholders, as this role requires strong communication skills within the team and with key model stakeholders.
We think you need these skills to ace Senior Model Validation Quant - Interest Rates & Hybrids
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly understand the responsibilities and requirements of the Senior Model Validation Quant position. Familiarize yourself with the key aspects of model validation, particularly in the context of Interest Rate Derivatives.
Highlight Relevant Experience: In your CV and cover letter, emphasize any previous experience you have in model validation, quantitative analysis, or related fields. Be specific about your contributions and the impact of your work.
Showcase Technical Skills: Since coding skills are preferred, make sure to mention your proficiency in Python or any other relevant programming languages. Provide examples of how you've used these skills in past projects or roles.
Tailor Your Application: Customize your application materials to reflect the language and requirements outlined in the job description. Use keywords from the posting to demonstrate that you are a strong fit for the role.
How to prepare for a job interview at Morgan McKinley
✨Understand the Models
Make sure you have a solid grasp of the pricing models used in interest rate derivatives. Be prepared to discuss mathematical assumptions and implementation methods, as well as how these models relate to the products traded in the IR markets.
✨Showcase Your Python Skills
Since Python is commonly used for testing, be ready to demonstrate your coding skills. You might be asked to solve a problem or explain how you would approach testing a model using Python.
✨Engage with Stakeholders
Highlight your ability to communicate effectively with various stakeholders, including Front Office Trading and Market Risk Managers. Prepare examples of how you've successfully collaborated with different teams in the past.
✨Discuss Your Experience
Be ready to talk about your previous work experience related to model validation or quantitative analysis. If you have experience with due diligence in new product approval processes, make sure to mention that as well.
