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- Tasks: Assess and mitigate model risk for complex interest rate derivatives.
- Company: Join J.P. Morgan, a global leader in financial services.
- Benefits: Competitive salary, diverse work environment, and career development opportunities.
- Why this job: Make an impact in model risk management while mentoring junior team members.
- Qualifications: 5+ years in quantitative roles, strong coding skills, and excellent communication.
- Other info: Diverse and inclusive workplace with a focus on professional growth.
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 an opportunity for 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.
- 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
- 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
- The following additional items will be considered but are not required for this role: Experience with interest rates derivatives.
About Us
J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs.
About The Team
Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we’re setting our businesses, clients, customers and employees up for success.
Quant Model Risk Vice President - Rates in London employer: JPMorganChase
Contact Detail:
JPMorganChase 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 folks in the industry, especially those already working at J.P. Morgan. A friendly chat can open doors and give you insider info on the role.
✨Tip Number 2
Prepare for the interview by brushing up on your technical skills. Be ready to discuss complex models and demonstrate your coding prowess in C/C++ or Python. We want to see your thought process!
✨Tip Number 3
Showcase your leadership skills! If you’ve mentored or trained others, share those experiences. We love seeing candidates who can guide junior team members and contribute to a collaborative environment.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you’re serious about joining our team at J.P. Morgan.
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 reflects the skills and experiences that match the Quant Model Risk Vice President role. Highlight your quantitative background, model risk experience, and any relevant coding skills to catch our eye!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about model risk management and how your background makes you a perfect fit for our Interest Rates team. Be genuine and let your personality come through.
Showcase Your Communication Skills: Since excellent communication is key in this role, make sure your written application is clear and concise. Avoid jargon where possible and ensure your ideas flow logically. We want to see how well you can convey complex concepts!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, you’ll find all the details you need about the role and our company culture there!
How to prepare for a job interview at JPMorganChase
✨Know Your Models Inside Out
Make sure you have a solid understanding of the complex pricing models and methodologies mentioned in the job description. Brush up on your knowledge of option pricing theory and be ready to discuss how you've assessed model risk in previous roles.
✨Showcase Your Communication Skills
Since you'll be liaising with various teams, it's crucial to demonstrate your excellent communication skills during the interview. Prepare examples of how you've effectively communicated complex quantitative concepts to non-technical stakeholders.
✨Prepare for Technical Questions
Expect technical questions related to probability theory, stochastic processes, and numerical analysis. Review key concepts and be ready to solve problems on the spot, as this will showcase your analytical skills and thought process.
✨Highlight Your Leadership Experience
As you'll have managerial responsibilities, be prepared to discuss your experience in mentoring and training junior team members. Share specific examples of how you've developed talent and fostered a collaborative team environment.
