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- Tasks: Review and enhance complex pricing models in a dynamic team environment.
- Company: Join a leading global firm in model risk management with a presence in major financial hubs.
- Benefits: Enjoy opportunities for collaboration, innovation, and professional growth in a supportive culture.
- Why this job: Make a real impact on critical decision-making processes while working with top professionals.
- Qualifications: MSc or equivalent in a relevant field; strong analytical skills and programming proficiency required.
- Other info: Ideal for those passionate about finance and model risk governance.
The predicted salary is between 43200 - 72000 £ per year.
Are you ready to make a significant impact in the world of model risk management? At Model Risk Governance and Review Group (MRGR), we are at the forefront of assessing and mitigating model risks across the globe. With a presence in major financial hubs like New York, London, Mumbai, and Paris, our team collaborates with top professionals in Risk, Finance, and Model Development. This is your chance to work in a dynamic environment, gain exposure to various business areas, and contribute to critical decision-making processes.
As a Model Risk Associate in the Model Risk Governance and Review team, you will play a crucial role in reviewing equity derivatives models and enhancing model risk governance. You will collaborate with model developers, trading desks, and risk professionals to ensure the soundness and suitability of complex pricing models. Together, we will drive innovation and maintain robust model risk controls.
Job Responsibilities
- Analyze the conceptual soundness of complex pricing models and reserve methodologies.
- Develop and implement alternative model benchmarks and performance metrics.
- Liaise with model developers, trading desks, and risk professionals to provide guidance on model risk and usage.
- Maintain model risk control apparatus and serve as the first point of contact for the coverage area.
Required Qualifications, Capabilities, and Skills
- Excellence in probability theory, stochastic processes, statistics, and numerical analysis.
- Strong understanding of option pricing theory and quantitative models for derivatives.
- Experience with Monte Carlo and numerical methods.
- Strong analytical and problem-solving abilities.
- MSc or equivalent in a relevant field.
- Proficiency in C/C++ programming and Python.
- Inquisitive nature with excellent communication skills.
- Teamwork-oriented mindset.
Preferred Qualifications, Capabilities, and Skills
- Experience with equity derivatives.
Model Risk Associate/Vice President employer: J.P. Morgan
Contact Detail:
J.P. Morgan Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Model Risk Associate/Vice President
✨Tip Number 1
Network with professionals in the model risk management field. Attend industry conferences or webinars where you can meet people from MRGR or similar organisations. Building these connections can provide insights into the company culture and potentially lead to referrals.
✨Tip Number 2
Stay updated on the latest trends and developments in model risk governance. Follow relevant publications, blogs, and forums to understand current challenges and innovations in the field. This knowledge will help you engage in meaningful conversations during interviews.
✨Tip Number 3
Prepare to discuss your technical skills in C/C++ and Python. Be ready to demonstrate your understanding of quantitative models and option pricing theory. Consider working on a small project or case study that showcases your analytical abilities and problem-solving skills.
✨Tip Number 4
Familiarise yourself with the specific equity derivatives models used in the industry. Research common benchmarks and performance metrics to discuss how you would approach model validation and governance. Showing this initiative can set you apart from other candidates.
We think you need these skills to ace Model Risk Associate/Vice President
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and qualifications required for the Model Risk Associate position. Familiarise yourself with model risk management concepts, especially in equity derivatives.
Tailor Your CV: Highlight your relevant experience in probability theory, stochastic processes, and quantitative models. Make sure to include any specific projects or roles that demonstrate your analytical skills and programming proficiency in C/C++ and Python.
Craft a Compelling Cover Letter: Use your cover letter to express your enthusiasm for the role and the company. Discuss how your background aligns with the job requirements and mention any experience you have with model risk governance or equity derivatives.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors. Ensure that your documents are clear, concise, and free of typos, as attention to detail is crucial in this field.
How to prepare for a job interview at J.P. Morgan
✨Brush Up on Technical Knowledge
Make sure you're well-versed in probability theory, stochastic processes, and option pricing theory. Be prepared to discuss your understanding of these concepts and how they apply to model risk management.
✨Showcase Your Analytical Skills
During the interview, highlight your analytical and problem-solving abilities. Prepare examples from your past experiences where you successfully tackled complex problems, especially related to quantitative models or derivatives.
✨Demonstrate Programming Proficiency
Since proficiency in C/C++ and Python is crucial for this role, be ready to discuss your programming experience. You might even be asked to solve a coding problem, so practice common algorithms and data structures beforehand.
✨Emphasise Team Collaboration
This role requires a teamwork-oriented mindset, so be prepared to share examples of how you've effectively collaborated with others in previous roles. Highlight any experiences working with model developers or trading desks to show your ability to liaise across teams.
