At a Glance
- Tasks: Assess and mitigate model risk for complex financial models in a dynamic team.
- Company: Join J.P. Morgan, a global leader in financial services with a focus on diversity.
- Benefits: Competitive salary, inclusive culture, and opportunities for professional growth.
- Other info: Collaborate with diverse teams and gain exposure to various business areas.
- Why this job: Make an impact in risk management while working with cutting-edge quantitative models.
- Qualifications: MSc or PhD in a quantitative field; strong coding and communication skills required.
The predicted salary is between 56700 - 69300 £ per year.
We are looking for a new member to join our 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 Associate in our Model Risk Governance and Review team, you will assess and help mitigate the model risk of complex models used in the context of valuation, risk measurement, the calculation of capital, and more broadly for decision-making purposes. 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.
Job responsibilities:
- Carries out model reviews: analyze 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.
Required qualifications, capabilities, and skills:
- 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 Rates derivatives.
- Experience in a FO or model risk quantitative role.
Quant Model Risk Associate - Rates 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.
