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- Tasks: Lead a team in assessing and mitigating model risk for complex financial models.
- Company: Join the UK's top age-inclusive jobs board focused on diverse talent.
- Benefits: Enjoy opportunities for mentorship, collaboration, and exposure to various business areas.
- Why this job: Make an impact in model risk management while developing your leadership skills.
- Qualifications: MSc/PhD in a quantitative field with strong coding and communication skills required.
- Other info: Ideal for those passionate about finance and eager to mentor junior talent.
The predicted salary is between 72000 - 108000 £ per year.
This job is brought to you by Jobs/Redefined, the UK’s leading over-50s age inclusive jobs board.
Job Description
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 Executive Director you will lead a team that 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 will work closely with model developers and users.
You will also have be expected to 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.
- Act as Model Review Lead, supervising the work of multiple team members and being responsible for the quality of the reviews they produce.
- Provides 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.
- Liaises with model developers, Risk and Valuation Control Groups and provide guidance on model risk.
- Evaluates model performance on a regular basis.
- Manage and develop junior members of the team.
Required Qualifications, Capabilities, and Skills
- Extensive work 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.
- Extensive knowledge of and experience with interest rates derivatives.
Preferred Qualifications, Capabilities, and Skills
- Experience managing quants.
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Quant Model Risk - Executive Director 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 - Executive Director
✨Tip Number 1
Make sure to showcase your extensive experience in front office or model risk quantitative roles during networking events. Connect with professionals in the industry who can provide insights and potentially refer you to opportunities at StudySmarter.
✨Tip Number 2
Brush up on your knowledge of option pricing theory and derivatives. Being able to discuss these topics confidently in conversations will demonstrate your expertise and passion for the field, making you a more attractive candidate.
✨Tip Number 3
Engage with online communities and forums related to quantitative finance and model risk management. Sharing your insights and learning from others can help you stay updated on industry trends and may lead to valuable connections.
✨Tip Number 4
Consider reaching out to current or former employees of StudySmarter on LinkedIn. Ask them about their experiences and any tips they might have for applying. This can give you an insider's perspective and help you tailor your approach.
We think you need these skills to ace Quant Model Risk - Executive Director
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and qualifications required for the Quant Model Risk Executive Director position. Familiarize yourself with model risk management and the specific skills mentioned in the job description.
Tailor Your CV: Customize your CV to highlight your extensive experience in quantitative roles, particularly in model risk. Emphasize your expertise in probability theory, statistics, and any relevant coding skills, such as C/C++ or Python.
Craft a Strong Cover Letter: Write a compelling cover letter that showcases your inquisitive nature and ability to communicate complex concepts clearly. Mention specific experiences where you have successfully managed teams or conducted model reviews.
Highlight Relevant Experience: In your application, be sure to detail your experience with interest rate derivatives and any previous roles where you trained or mentored junior team members. This will demonstrate your leadership capabilities and technical knowledge.
How to prepare for a job interview at JPMorgan Chase & Co.
✨Showcase Your Quantitative Expertise
Be prepared to discuss your extensive experience in quantitative roles, particularly in model risk management. Highlight specific projects where you applied probability theory, stochastic processes, and numerical analysis.
✨Demonstrate Leadership Skills
Since this role involves managing and mentoring junior team members, share examples of your leadership experiences. Discuss how you've successfully guided teams in the past and the impact it had on their development.
✨Prepare for Technical Questions
Expect technical questions related to option pricing theory and coding skills. Brush up on your knowledge of derivatives and be ready to demonstrate your coding abilities in languages like C/C++ or Python.
✨Communicate Effectively
Excellent communication skills are crucial for this role. Practice articulating complex concepts clearly and concisely, as you'll need to liaise with various stakeholders, including model developers and business users.
