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- Tasks: Validate pricing models and assess their performance using Python and quantitative methods.
- Company: Join a leading international investment bank with a strong focus on innovation and analytics.
- Benefits: Enjoy competitive pay, flexible working options, and opportunities for professional growth.
- Why this job: Be part of a dynamic team that influences trading strategies and risk management in finance.
- Qualifications: MSc or PhD in a quantitative field; programming skills in C++ or VBA are a plus.
- Other info: Ideal for analytical thinkers eager to challenge assumptions and drive improvements.
The predicted salary is between 43200 - 72000 £ per year.
Job Title: Pricing Model Validation Analyst
Location: London
Department: Model Validation / Quantitative Analytics
Reporting to: Head of Model Validation
Overview:
An international investment bank is seeking a Pricing Model Validation professional to join its London-based Model Validation team. This role focuses on the independent review and validation of pricing and risk models used across the firm’s trading and risk platforms. The function sits independently from Risk and works closely with Front Office Quants, IT, and Model Developers.
Key Responsibilities:
- Perform independent validation of pricing models cross asset classes, with a focus on derivatives.
- Assess the conceptual soundness, implementation correctness, and ongoing performance of pricing and valuation models.
- Rebuild models in Python or other quantitative libraries to benchmark performance and accuracy.
- Review model documentation, assumptions, numerical methods, calibration techniques, and risk sensitivities.
- Conduct quantitative testing including backtesting, stress testing, and scenario analysis.
- Liaise with model developers and Front Office quants to understand model design and propose improvements where necessary.
- Contribute to validation reports that meet internal governance and regulatory expectations.
- Maintain ongoing monitoring of model performance, usage, and limitations.
Candidate Profile:
- MSc or PhD in a quantitative field.
- Knowledge of quantitative finance, in particular stochastic calculus and numerical methods.
- Fluency with Microsoft Word and Excel, working with potentially large spreadsheets.
- Fluency with programming languages (e.g., C++, VBA)
- Experience with all aspects of Model Validation, preferably across different asset classes.
- An analytical person with a growth mindset.
- A lateral thinker with ability and eagerness to identify and challenge assumptions.
- Ability to catch up and adapt quickly to new work environment.
- Ability to understand and write scientific documentation on quantitative finance, in particular pricing models.
- Ability to extract headlines and synthetise them concisely.
- Ability to perform efficient model testing, including slicing and dicing.
- Ability to adapt their communication to diverse stakeholders.
Quantitative Analyst employer: ETRA Talent
Contact Detail:
ETRA Talent Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Quantitative Analyst
✨Tip Number 1
Familiarise yourself with the latest trends in quantitative finance, especially around pricing models and validation techniques. This knowledge will not only help you during interviews but also demonstrate your genuine interest in the field.
✨Tip Number 2
Network with professionals already working in model validation or quantitative analytics. Attend industry events or webinars to connect with potential colleagues and learn about their experiences, which can provide valuable insights for your application.
✨Tip Number 3
Brush up on your programming skills, particularly in Python and C++. Being able to discuss your coding experience and how you've used these languages in past projects can set you apart from other candidates.
✨Tip Number 4
Prepare to discuss specific examples of how you've validated models or conducted quantitative testing in previous roles. Having concrete examples ready will showcase your expertise and problem-solving abilities during the interview process.
We think you need these skills to ace Quantitative Analyst
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly understand the responsibilities of a Pricing Model Validation Analyst. Familiarise yourself with key concepts in quantitative finance, especially those related to pricing models and risk assessment.
Tailor Your CV: Highlight your relevant experience and skills in your CV. Emphasise your educational background in quantitative fields, programming proficiency, and any previous work in model validation or quantitative analytics.
Craft a Strong Cover Letter: Write a compelling cover letter that showcases your passion for quantitative analysis and your understanding of the role. Mention specific experiences that demonstrate your analytical skills and ability to work with diverse stakeholders.
Showcase Technical Skills: In your application, be sure to mention your proficiency in programming languages like Python, C++, and VBA. Provide examples of how you've used these skills in past projects, particularly in model validation or quantitative testing.
How to prepare for a job interview at ETRA Talent
✨Showcase Your Technical Skills
Be prepared to discuss your experience with programming languages like Python, C++, and VBA. You might be asked to solve a technical problem or explain how you've used these skills in past projects, so brush up on relevant examples.
✨Understand the Role of Model Validation
Familiarise yourself with the key responsibilities of a Pricing Model Validation Analyst. Be ready to discuss how you would approach validating pricing models and the importance of independent reviews in the context of risk management.
✨Demonstrate Analytical Thinking
Prepare to showcase your analytical skills by discussing past experiences where you identified assumptions or proposed improvements in model design. Use specific examples to illustrate your lateral thinking and problem-solving abilities.
✨Communicate Effectively with Stakeholders
Since the role involves liaising with various teams, practice how you would adapt your communication style for different stakeholders. Be ready to explain complex concepts in a clear and concise manner, as this will be crucial in your interactions.
