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- Tasks: Validate and monitor risk models, ensuring accuracy and compliance with regulations.
- Company: Join ICE Clear Europe, a leading clearing house in the financial sector.
- Benefits: Enjoy a collaborative work environment with opportunities for mentorship and professional growth.
- Why this job: Be part of a flat organisational structure that values technical expertise and innovation.
- Qualifications: MSc/PhD in a relevant field and experience in model validation or quantitative analysis required.
- Other info: Familiarity with SR 11-7 guidelines and proficiency in Python and SQL are preferred.
The predicted salary is between 43200 - 72000 £ per year.
ICE Clear Europe is seeking a Quantitative Risk Manager to join its Model Risk Management team. This role is responsible for validating and monitoring risk models used in the clearing house, ensuring their accuracy, robustness, and compliance with regulatory standards. The position involves end-to-end model risk assessment across initial margin, add-ons, and stress testing frameworks, with a focus on market, credit, and liquidity risk. This is an exciting opportunity for a technical expert looking for broader model and management exposure in a collaborative and flat organizational structure.
Responsibilities
- Conduct independent validation of risk and pricing models and review of stress testing frameworks, including conceptual soundness, assumption reasonableness, and performance benchmarking.
- Continuously monitor model performance and review first-line risk management monitoring approaches.
- Document validation findings, communicate risks, and recommend improvements.
- Provide guidance on model usage and act as a key stakeholder liaison for new models and changes.
- Stay updated on evolving market practices, regulatory requirements, and quantitative methodologies.
- Mentor and support junior team members.
Knowledge and Experience
- Degree (MSc/PhD preferred) in Mathematics, Statistics, Quantitative Finance, or related field.
- Extensive experience in model validation, quantitative analysis, or risk analytics.
- Strong knowledge of market, credit, and liquidity risk frameworks.
- Proficiency in Python (NumPy, Pandas, etc.) and SQL for data analysis.
- Strong understanding of option pricing theory and statistical risk modelling techniques (VaR, Backtesting, Stress Testing).
- Excellent verbal and written communication skills.
- Preferred Industry certifications (PRM, FRM, CFA).
- Experience in a clearing house, trading firm, or similar financial institution.
- Familiarity with SR 11-7 model risk guidelines and exchange-traded derivatives.
Model Risk Manager employer: ICE Clear Europe Limited
Contact Detail:
ICE Clear Europe Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Model Risk Manager
✨Tip Number 1
Network with professionals in the financial services industry, especially those working in model risk management. Attend relevant conferences or webinars to meet potential colleagues and learn about the latest trends in model validation.
✨Tip Number 2
Familiarise yourself with the specific regulatory standards mentioned in the job description, such as SR 11-7. Understanding these guidelines will not only help you in interviews but also demonstrate your commitment to compliance and best practices.
✨Tip Number 3
Brush up on your technical skills, particularly in Python and SQL. Consider working on personal projects or contributing to open-source projects that involve quantitative analysis or risk modelling to showcase your proficiency.
✨Tip Number 4
Prepare to discuss your experience with model validation and quantitative analysis in detail. Be ready to provide examples of how you've assessed model performance and communicated findings, as this will be crucial in demonstrating your fit for the role.
We think you need these skills to ace Model Risk Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in model validation, quantitative analysis, and risk analytics. Emphasise your proficiency in Python and SQL, as well as any industry certifications you hold.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss your understanding of market, credit, and liquidity risk frameworks, and how your background aligns with the responsibilities outlined in the job description.
Showcase Technical Skills: Be specific about your technical skills in your application. Mention your experience with statistical risk modelling techniques and any relevant projects or achievements that demonstrate your expertise in this area.
Highlight Communication Skills: Since excellent verbal and written communication skills are essential for this role, provide examples in your application where you've effectively communicated complex ideas or mentored others, showcasing your ability to liaise with stakeholders.
How to prepare for a job interview at ICE Clear Europe Limited
✨Showcase Your Technical Expertise
As a Model Risk Manager, it's crucial to demonstrate your technical skills during the interview. Be prepared to discuss your experience with model validation, quantitative analysis, and risk analytics in detail. Highlight specific projects where you've successfully applied your knowledge of market, credit, and liquidity risk frameworks.
✨Familiarise Yourself with Regulatory Standards
Understanding regulatory requirements is key for this role. Make sure you are well-versed in SR 11-7 model risk guidelines and can articulate how they apply to the models you'll be working with. This will show your potential employer that you are proactive and knowledgeable about compliance.
✨Prepare for Technical Questions
Expect to face technical questions related to option pricing theory, statistical risk modelling techniques, and your proficiency in Python and SQL. Brush up on these topics and be ready to solve problems or explain concepts clearly, as this will demonstrate your analytical capabilities.
✨Emphasise Communication Skills
Since the role involves liaising with stakeholders and mentoring junior team members, strong communication skills are essential. Prepare examples of how you've effectively communicated complex ideas in the past, and be ready to discuss how you would approach guiding others in the team.
