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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: Dynamic team environment with opportunities to lead and mentor.
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 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
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and quantitative modelling space. Attend industry events or webinars where you can meet potential employers and showcase your expertise.
✨Tip Number 2
Prepare for interviews by brushing up on your technical skills. Be ready to discuss complex models and demonstrate your understanding of option pricing theory. We recommend practising with mock interviews to build confidence.
✨Tip Number 3
Showcase your coding skills! If you're proficient in C/C++ or Python, make sure to highlight this during discussions. Consider sharing a project or two that demonstrates your ability to apply these skills in real-world scenarios.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Quant Model Risk Vice President - Rates
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 related to option pricing or model performance, share those experiences with us. We’re keen to see your technical prowess!
Apply Through Our Website: We encourage you to apply through our website for a smoother application 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 model developers and various teams, it's crucial to demonstrate your excellent communication skills. Practice explaining complex concepts in simple terms, as you may need to act as the first point of contact for new models and changes. 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 also be helpful to brush up on your coding skills in C/C++ or Python, as practical coding questions could arise.
✨Demonstrate Leadership Potential
As a managerial role, you'll need to show that you can oversee and mentor junior team members. Prepare examples from your past experience where you've successfully led a team or trained others. Highlight your ability to guide and support colleagues, as this will be an important aspect of the role.
