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- Tasks: Lead the development of advanced risk and pricing models for counterparty exposures.
- Company: CME Group is the world's top derivatives marketplace, shaping global markets.
- Benefits: Enjoy a diverse workplace, career growth opportunities, and a chance to impact industries.
- Why this job: Join a team of experts and tackle complex challenges in a dynamic environment.
- Qualifications: Master's or Doctorate in relevant fields with 4-6 years of experience in risk modelling.
- Other info: Embrace diversity and inclusion while working on cutting-edge financial technologies.
The predicted salary is between 43200 - 72000 £ per year.
CME Group is the world's leading and most diverse derivatives exchange. The role will be part of the CME Clearing Quantitative Risk Management department. Our Quants team are working with complex and advanced modelling and we are looking for someone ready for a new challenge to join the Chicago team.
The Manager Quantitative Risk Management is responsible for developing Risk/Pricing Models that evaluate counterparty exposures to the Clearing House. These include models related to Pricing, Value-at-Risk, Stress Testing, Liquidity, Regulatory Capital, and also developing tools for Portfolio Analytics. The incumbent also works to develop strategies to perform back-testing to ensure the adequacy of margin coverage and model assumptions.
Principal Accountabilities:
- Conduct empirical studies and make recommendations on margin levels, modeling issues, and other risk-mitigation measures. Ensure that the model is up to date with the proven theories in the field.
- Design and develop pricing and risk models across different asset classes like Fixed Income Cash and Derivatives, OTC and Exchange-traded Futures and Options (e.g. Pricing, VaR, Backtest, Stress, Liquidity, etc.).
- Ensure risk models meet the risk appetite across varying needs for coverage, anti-procyclicality as well as provide transparency, replicability and what-if capabilities.
- Ability to do hands-on programming in C++/Java, SQL as well as Cloud-based platforms and work with financial developers and technology to deploy, test and continuously improve the models within the Production Infrastructure of CME.
- Document and present results to Senior Management, Risk Committees as well as regulators and end clients; work with internal and external model validators for governance needs.
- These tasks apply at an individual contributor level, as well as a team supervisor and project manager because they entail mentoring junior quantitative and financial developers.
- The successful candidate will be ultimately responsible for the long-term modelling strategy, and for the architecture of the development library (supported by a quantitative developer).
Qualifications:
- Master or Doctorate in Computer Science, Financial Engineering, Financial/Applied/Pure Mathematics, Physics, or a related discipline.
- 4-6+ years of experience in pricing complex derivatives and performing advanced statistical analysis on underlying risk factors.
- Very strong expertise (3+ years) with Bond Mathematics, Fixed Income Pricing and Risk modeling as well as with team management.
- 3+ years in developing risk models (e.g. Historical VaR, Monte Carlo VaR, Multi-Factor Risk Models, Stressed VaR, and Liquidity Risk models) as well as model evaluation techniques (backtesting, sensitivity analysis, coverage statistics, etc.).
- Experience providing theoretical justifications of risk models, for internal as well as external stakeholders.
- Experience in writing model documentation and technical presentations.
Skills & Software Requirements:
- Proficiency in programming languages such as C++, Python, VBA and SQL is essential.
Manager Quantitative Risk Management employer: Job Traffic
Contact Detail:
Job Traffic Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Manager Quantitative Risk Management
✨Tip Number 1
Familiarise yourself with the latest trends in quantitative risk management and pricing models. Being able to discuss recent developments or innovations in the field during your interview can demonstrate your passion and commitment to staying current.
✨Tip Number 2
Network with professionals in the industry, especially those who work at CME Group or similar organisations. Attend relevant conferences or webinars where you can meet potential colleagues and learn more about the company culture and expectations.
✨Tip Number 3
Prepare to showcase your programming skills in C++, Python, and SQL. Consider working on a small project or case study that highlights your ability to develop risk models, as practical examples can make a strong impression during discussions.
✨Tip Number 4
Understand the regulatory landscape surrounding risk management and be ready to discuss how your experience aligns with compliance requirements. This knowledge will show that you are not only technically proficient but also aware of the broader implications of your work.
We think you need these skills to ace Manager Quantitative Risk Management
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in quantitative risk management, programming skills in C++/Java, and any specific projects related to pricing models or statistical analysis. Use keywords from the job description to align your experience with what CME Group is looking for.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss your experience in developing risk models and how it aligns with the responsibilities outlined in the job description. Be sure to mention any leadership experience, as the role involves mentoring junior team members.
Showcase Technical Skills: Highlight your proficiency in programming languages such as C++, Python, and SQL. Provide examples of how you've used these skills in past roles, particularly in developing or evaluating risk models. This will demonstrate your technical capability to meet the demands of the position.
Prepare for Technical Questions: Anticipate technical questions related to probability theory, statistics, and numerical methods that may arise during the interview process. Brush up on key concepts and be ready to discuss your approach to model development and validation, as well as any empirical studies you've conducted.
How to prepare for a job interview at Job Traffic
✨Showcase Your Technical Skills
Make sure to highlight your proficiency in programming languages like C++, Python, and SQL during the interview. Be prepared to discuss specific projects where you've applied these skills, especially in developing risk models or performing statistical analysis.
✨Demonstrate Your Understanding of Risk Models
Familiarise yourself with various risk models such as Historical VaR, Monte Carlo VaR, and Liquidity Risk models. Be ready to explain how you have used these models in past roles and the theoretical justifications behind them.
✨Prepare for Technical Questions
Expect technical questions related to probability theory, statistics, and numerical methods. Brush up on concepts like stochastic processes and time series analysis, as these are crucial for the role.
✨Emphasise Team Management Experience
Since the role involves mentoring junior developers, be sure to discuss your experience in team management. Share examples of how you've successfully led a team, managed projects, and contributed to a collaborative work environment.
