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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
- Experience with interest rates derivatives
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.
Quant Model Risk Vice President - Rates employer: JPMorganChase
Contact Detail:
JPMorganChase 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 model risk space. Attend industry events or webinars, and don’t be shy about introducing yourself. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for those interviews by brushing up on your technical skills. Make sure you can discuss complex pricing models and their applications confidently. Practise explaining your thought process clearly, as communication is key in this role.
✨Tip Number 3
Showcase your experience with coding! If you’ve got skills in C/C++ or Python, make sure to highlight them during interviews. Being able to demonstrate your coding prowess can set you apart from other candidates.
✨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, it shows you’re genuinely interested in joining our team at J.P. Morgan.
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 reflects the skills and experiences that match the Quant Model Risk Vice President role. Highlight your expertise in probability theory, stochastic processes, and any relevant coding skills. We want to see how you fit into our team!
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 the perfect fit for our Interest Rates team. Let us know what excites you about this opportunity!
Showcase Your Communication Skills: Since excellent communication is key for this role, make sure your written application is clear and concise. We want to see your ability to convey complex ideas simply. Remember, we’re looking for someone who can guide others effectively!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets to the right people. 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. 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 excellent communication is key for this role, practice articulating your thoughts clearly and concisely. Prepare to explain complex concepts in a way that’s easy to understand, as you’ll need to liaise with model developers and other teams. Consider doing mock interviews with a friend to refine your delivery.
✨Demonstrate Your Leadership Potential
As a Vice President, you’ll have managerial responsibilities. Think about examples from your past experience where you’ve successfully trained or mentored junior team members. Be ready to discuss your leadership style and how you can contribute to developing the team.
✨Prepare for Technical Questions
Expect technical questions related to probability theory, stochastic processes, and numerical analysis. Brush up on your coding skills in C/C++ or Python, as you may be asked to solve problems or demonstrate your coding abilities. Practising coding challenges can help you feel more confident.
