At a Glance
- Tasks: Assess and mitigate model risk for complex pricing models in a dynamic team.
- Company: Join a leading financial firm with a focus on innovation and collaboration.
- Benefits: Competitive salary, professional development, and exposure to diverse business areas.
- Other info: Opportunity for growth in a fast-paced environment with a focus on teamwork.
- Why this job: Make an impact by ensuring the integrity of models that drive key business decisions.
- Qualifications: MSc or PhD in a quantitative field with strong analytical and coding skills.
The predicted salary is between 60000 - 80000 £ 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:
- Carry 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.
- Provide guidance on model usage and act as first point of contact for the business on all new models and changes to existing models.
- Develop and implement alternative model benchmarks and compare the outcome of various models; design model performance metrics.
- Liaise with model developers, Risk and Valuation Control Groups and provide guidance on model risk.
- Evaluate 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 in London employer: Jpmorgan Chase & Co.
Join our dynamic Rates team as a Quant Model Risk Associate, where you will engage in meaningful work that directly impacts decision-making across the firm. We pride ourselves on fostering a collaborative and innovative work culture, offering extensive opportunities for professional growth and development. Located in a vibrant city, our company provides a supportive environment that encourages continuous learning and the chance to work alongside industry experts.
StudySmarter Expert Advice🤫
We think this is how you could land Quant Model Risk Associate - Rates in London
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We think you need these skills to ace Quant Model Risk Associate - 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 Jpmorgan Chase & Co..
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How to prepare for a job interview at Jpmorgan Chase & Co.
✨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 Jpmorgan Chase & Co..
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✨Network with Industry Professionals
Before your interview, reach out to current or former Jpmorgan Chase & Co. 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.
