At a Glance
- Tasks: Join our Interest Rates team to assess and mitigate model risk for complex financial models.
- Company: J.P. Morgan, a global leader in financial services with a focus on diversity and inclusion.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Other info: Dynamic workplace with opportunities for growth and exposure to various business areas.
- Why this job: Make a real impact in finance while mentoring junior team members and collaborating with experts.
- Qualifications: 5+ years in quantitative roles, strong coding skills, and a passion for model risk management.
The predicted salary is between 59400 - 72600 £ 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 Senior Associate/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: analyze conceptual soundness of complex pricing models, engines, and reserve methodologies; assess model behavior 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 escalate 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 Senior Associate/Vice President - Rates in London employer: JP Morgan Chase
At J.P. Morgan, we pride ourselves on being an exceptional employer, particularly within our Global Financial Crimes Compliance team in EMEA. Our commitment to diversity and inclusion fosters a collaborative work culture where employees are empowered to grow and develop their skills in a dynamic environment. With access to comprehensive training and the opportunity to engage with a wide range of financial services, you will find meaningful and rewarding career advancement in a company that values your contributions.
StudySmarter Expert Advice🤫
We think this is how you could land Quant Model Risk Senior Associate/Vice President - Rates in London
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We think you need these skills to ace Quant Model Risk Senior Associate/Vice President - Rates in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to JP Morgan Chase.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on JP Morgan Chase's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at JP Morgan Chase
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with JP Morgan Chase.
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✨Network with Industry Professionals
Before your interview, reach out to current or former JP Morgan Chase employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
