At a Glance
- Tasks: Join our team to assess and mitigate model risks in electronic trading.
- Company: Dynamic financial firm focused on innovative model risk management.
- Benefits: Competitive salary, professional development, and exposure to diverse business areas.
- Other info: Collaborative environment with opportunities for growth and learning.
- Why this job: Make a real impact in finance by working with cutting-edge quantitative models.
- Qualifications: Master's or PhD in a quantitative field and strong model validation experience.
The predicted salary is between 60000 - 80000 £ per year.
We are looking for a new member to join our cross-asset team in the Model Risk Governance and Review group which is responsible for end-to-end model risk management across the firm for electronic trading models. As a Quant Modeling Associate/Vice President 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 and will work closely with model developers and users.
Job responsibilities:
- Evaluate conceptual soundness of model specifications, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, and suitability and comprehensiveness of performance metrics and risk measures.
- Perform independent testing of models by replicating or building benchmark models.
- Design and implement experiments to measure the potential impact of model limitations, parameter estimation errors, and deviations from model assumptions; compare model outputs with empirical evidence or outputs from model benchmarks.
- Evaluate the risks posed by non-transparent model parameters and/or non-linear relationships, and suggest ways to mitigate such risks.
- Document the model review findings and communicate them to stakeholders.
- Serve as the first point of contact for model governance related inquiries for the coverage area, and help identify and escape issues to ensure that their resolutions are sound and timely.
- Provide guidance on the appropriate usage of models to model developers, users, and other stakeholders in the firm.
- Stay abreast of the ongoing performance testing outcomes for models used in the coverage area, and communicate those outcomes to stakeholders.
- Maintain the model inventory and model metadata for the coverage area.
- Maintain the pace with the latest developments in coverage area in terms of products, markets, models, risk management practices, and industry standards.
Required qualifications, capabilities, and skills:
- Master's or PhD in a quantitative discipline such as Mathematics, Physics, Engineering, Computer Science, Economics or Finance.
- Strong experience in model validation or front office in an area of electronic trading (either agency or market making).
- Excellence in probability theory, stochastic processes, statistics, and numerical analysis.
- Strong understanding of option pricing theory and quantitative models for derivatives.
- Excellent communication skills (written and verbal).
- Risk and control-oriented mindset: ability to ask incisive questions, assess materiality of model issues, and escalation of issues appropriately.
- Proficiency in Python (NumPy, SciPy, Pandas, etc).
- Curious, ownership-driven, and teamwork-oriented mindset.
Preferred qualifications, capabilities and skills:
- Prior model validation or front-office quant experience in pricing, risk, or electronic market making models.
- Database interfacing, data management and (pre‑)processing (kdb, q, SQL).
- Experience of working with tensorflow and other ML packages.
Quant Modelling Associate/Vice President employer: Jpmorgan Chase & Co.
Join a leading firm that prioritises innovation and collaboration in the heart of the financial district. As a Quant Modelling Associate/Vice President, you will thrive in a dynamic work culture that fosters professional growth and offers exposure to diverse business areas. With a strong emphasis on employee development and a commitment to maintaining a supportive environment, this role provides a unique opportunity to make a meaningful impact in model risk management while working alongside industry experts.
StudySmarter Expert Advice🤫
We think this is how you could land Quant Modelling Associate/Vice President
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Jpmorgan Chase & Co.. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Quant Modelling Associate/Vice President
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..
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Jpmorgan Chase & Co.'s website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
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..
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Jpmorgan Chase & Co. will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨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.
