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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.
- Benefits: Competitive salary, mentorship opportunities, and career advancement.
- Why this job: Make an impact in model risk management while developing your skills.
- Qualifications: 5+ years in quantitative roles and strong coding skills required.
- Other info: Collaborative 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 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.
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 Vice President - Rates in London employer: Jpmorgan Chase & Co.
Contact Detail:
Jpmorgan Chase & Co. 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, and don’t be shy about introducing yourself. We all know that sometimes it’s not just what you know, but who you know!
✨Tip Number 2
Prepare for those tricky interviews! Brush up on your knowledge of probability theory and option pricing. We recommend practising common interview questions related to model risk and derivatives. The more confident you are, the better you'll perform!
✨Tip Number 3
Showcase your coding skills! If you’re proficient in C/C++ or Python, make sure to highlight this in conversations. We suggest working on a small project or two that demonstrates your abilities, so you can discuss them during interviews.
✨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, we love seeing candidates who take the initiative to connect directly with us!
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 is tailored to the Quant Model Risk Vice President role. Highlight your experience in model risk management and any relevant quantitative skills. We want to see how your background aligns with what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about model risk and how your skills can benefit our Interest Rates team. Keep it concise but impactful – we love a good story!
Showcase Your Technical Skills: Don’t forget to mention your coding skills, especially in C/C++ or Python. If you’ve worked on any interesting projects or models, share those experiences! We’re keen to see how you apply your technical know-how.
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you don’t miss out on any important updates. Plus, it’s super easy!
How to prepare for a job interview at Jpmorgan Chase & Co.
✨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 you'll be liaising with various teams, it's crucial to demonstrate your excellent communication skills. Practice explaining complex concepts in simple terms, as you may need to guide model developers or users. Think of examples where you've successfully communicated technical information to non-technical stakeholders.
✨Prepare for Technical Questions
Expect to face technical questions related to probability theory, stochastic processes, and numerical analysis. Review key concepts and be ready to solve problems on the spot. It might help to practice coding challenges in C/C++ or Python, as good coding skills are essential for this role.
✨Demonstrate Leadership Potential
As you'll have managerial responsibilities, be prepared to discuss your experience in mentoring or training junior team members. Share specific examples of how you've developed others in your previous roles, and express your enthusiasm for fostering a collaborative team environment.
