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- Tasks: Assess and mitigate model risk for complex interest rate derivatives.
- Company: Join a leading financial firm with a focus on innovation and collaboration.
- Benefits: Competitive salary, professional development, and mentorship opportunities.
- Why this job: Make an impact in model risk management while mentoring the next generation of talent.
- Qualifications: 5+ years in quantitative roles, strong analytical skills, and coding proficiency.
- Other info: Dynamic team environment with exposure to various business areas.
The predicted salary is between 72000 - 108000 £ per year.
We are looking for a new member to join our Interest Rates team in the Model Risk Governance and Review Group which is responsible for end-to-end model risk management across the firm. As a Quant Model Risk Vice President in the Interest Rates team, you will assess and help mitigate the model risk of complex models used in the context of valuation and risk measurement for Interest Rate derivatives. Additionally, you will have an opportunity for exposure to a variety of business and functional areas as well as work closely with model developers and users. You will also have managerial responsibility to oversee, train and mentor junior members of the team.
Job responsibilities:
- Carries out model reviews: analyse conceptual soundness of complex pricing models, engines, and reserve methodologies; assess model behaviour and suitability of pricing models/engines to particular products/structures.
- Provides guidance on model usage and acts as first point of contact for the business on all new models and changes to existing models.
- Develops and implements alternative model benchmarks and compares the outcome of various models; designs model performance metrics.
- Liaises with model developers, Risk and Valuation Control Groups and provides guidance on model risk.
- Evaluates model performance on a regular basis.
- Manages and develops junior members of the team.
Required qualifications, capabilities, and skills:
- 5+ years of experience in a FO or model risk quantitative role.
- Excellence in probability theory, stochastic processes, statistics, partial differential equations, and numerical analysis.
- MSc, PhD or equivalent in a quantitative discipline.
- Inquisitive nature, ability to ask right questions and elevate issues.
- Excellent communication skills (written and verbal).
- Good understanding of option pricing theory (i.e. quantitative models for pricing and hedging derivatives).
- Good coding skills, for example in C/C++ or Python.
Preferred qualifications, capabilities, and skills:
- Experience with interest rates derivatives.
Quant Model Risk Vice President - Rates in London employer: J.P. Morgan
Contact Detail:
J.P. Morgan Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Quant Model Risk Vice President - Rates in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and model risk space. Attend industry events or webinars where you can meet potential colleagues or hiring managers. A personal introduction can make all the difference!
✨Tip Number 2
Prepare for those interviews! Brush up on your knowledge of probability theory, stochastic processes, and option pricing theory. Be ready to discuss your experience with complex models and how you've tackled model risk in the past.
✨Tip Number 3
Show off your coding skills! If you're proficient in C/C++ or Python, be prepared to demonstrate your abilities. Maybe even bring along a project or two that showcases your coding prowess in relation to model risk.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you're genuinely interested in joining our team at StudySmarter!
We think you need these skills to ace Quant Model Risk Vice President - Rates in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experiences that match the job description. Highlight your quantitative experience, especially in model risk and interest rate derivatives, to show us you’re the right fit.
Craft a Compelling Cover Letter: Use your cover letter to tell us why you're excited about this role. Share specific examples of your past work in model risk management and how it relates to the responsibilities outlined in the job description.
Showcase Your Communication Skills: Since excellent communication is key for this role, ensure your written application is clear and concise. Use professional language but let your personality shine through to make a memorable impression on us.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates during the process.
How to prepare for a job interview at J.P. Morgan
✨Know Your Models Inside Out
Make sure you have a solid understanding of the complex pricing models and methodologies mentioned in the job description. Be prepared to discuss their conceptual soundness and how they apply to interest rate derivatives. Brush up on your knowledge of option pricing theory, as this will likely come up during the interview.
✨Showcase Your Communication Skills
Since excellent communication is key for this role, practice articulating your thoughts clearly and concisely. Prepare to explain complex concepts in a way that’s easy to understand, as you’ll need to liaise with model developers and other teams. Consider doing mock interviews with a friend to refine your delivery.
✨Demonstrate Your Inquisitive Nature
Be ready to ask insightful questions about the company’s model risk management processes and the specific challenges they face. This shows your enthusiasm for the role and your ability to think critically about model risk. Think of questions that can help you understand their approach to model performance evaluation.
✨Highlight Your Leadership Experience
As this role involves managing and mentoring junior team members, be prepared to discuss your leadership style and any relevant experiences. Share examples of how you've successfully guided others in previous roles, and be ready to talk about how you would approach training and developing new talent in the team.
