Senior Interest Rate Model Validator

Overview

Traded Risk Model Validation is a group that performs in depth technical model validations of models covering pricing, algo trading models, market and counterparty credit risk of derivatives spanning all asset classes. This opportunity is for a validator to perform model validations, build benchmark models and conduct testing and develop standardised model testing frameworks. The role may evolve into having management and/or mentoring roles across the London and Poland based teams. The role sits within the Interest Rate (IR) and Inflation Valuation Models Validation team and is expected to conduct validations across models with a focus on Interest Rate pricing Models. The role requires collaborative working both across the local team in the UK and other validators in Poland, Singapore HK and the US.

Responsibilities

• Perform validation of IR models and payoffs by verifying the conceptual soundness of the chosen methodology and correctness of implementation, and by identifying and assessing model limitations and uncertainties.
• Assess and quantify model risk by performing independent testing and developing alternative benchmark models.
• Oversee monitoring of ongoing model performance.
• Liaise with model developers, Trading, Risk managers and Valuation control teams and provide guidance on model risk.
• Communicate validation outcomes and findings to key stakeholders and management.

Qualifications

• Advanced Degree (Masters, PhD or equivalent) in a quantitative or engineering field e.g. mathematics, physics, quantitative finance…
• Extensive practical experience in either a model validation or model development role covering pricing models. Candidates with other similar technical experience will be considered.
• Knowledge of interest rate derivatives and interest rate trading markets is highly desirable.
• Demonstrable knowledge and ability to apply mathematical techniques in modelling problems including stochastic calculus.
• Strong analytical and programming skills, ideally in C++, Python or Haskell.
• Strong communication skills to facilitate the ability to work effectively as part of a Global Team and liaise with key stakeholders.
• Fluency in written and spoken English.
• Strong writing skills with ability to present conclusions and recommendations from technical projects to a less technical audience.

About Standard Chartered

We\’re an international bank, nimble enough to act, big enough for impact. For more than 170 years, we\’ve worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you\’re looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can\’t wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you\’ll see how we value difference and advocate inclusion.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies – everyone feels respected and can realise their full potential.

Recruitment Assessments

Some of our roles use assessments to help us understand how suitable you are for the role you\’ve applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.

Visit our careers website: www.sc.com/careers