Senior Model Validator Algorithmic Trading

Traded Risk Model Validation is a group that performs in depth technical model validations of models covering pricing, market and counterparty credit risk of derivatives spanning all asset classes. This opportunity is for a validator to perform independent model validations of valuation models used for the books and records of the Group, for official risk reporting and uses in regulatory stress testing. This role will primarily focus on the validation of algorithmic trading models, assessing the associated model risk, building benchmark models, and conducting testing and developing standardised model testing frameworks. The successful candidate is expected to have mentoring responsibility across the London and Poland based teams.

Key Responsibilities

• Strategy
  • The role sits within the valuation models validation team which encompasses interest rates (IR), FX, credit, commodities, inflation and equity.
  • This role will primarily focus on the validation of Algorithmic trading models, assessing the associated model risk, building benchmark models, and conducting testing and developing standardised model testing frameworks.
  • The role requires collaborative working both across the different asset classes as well as different locations in UK, Poland, Singapore, HK and the US.
• Business
  • Work with stakeholders across business to ensure that Algorithmic Trading models are properly reviewed and validated.
  • Liaise with key stakeholders, including trading, front office quantitative analysts and developers, market risk management, and valuation control throughout the model risk model lifecycle.
  • Assess and opine on model risk across range of credit Algo trading models.
  • Contribute to the implementation of independent benchmark/alternative models and development of standardized testing suites to enable exploration and quantification of model risk.
  • Delivery of validations of a high quality and according to agreed timelines.
• Processes
  • Traded Risk Model Validation is a group that performs in depth technical model validations of models covering pricing, market and counterparty credit risk of derivatives spanning all asset classes.
  • This role is to perform model validations, build benchmark models and conduct testing and develop standardised model testing frameworks. The role requires collaborative working both across the local team in London and other validators in Poland and Singapore.
• People & Talent
  • The successful candidate is expected to have mentoring responsibility across the London and Poland based teams.
• Risk Management
  • Performed model validations performed in algorithmic trading models for Macro space in the context of both internal and external (vendor) models to ensure they are fit for their intended use cases and that key risks are identified and communicated to stakeholders.
  • Ensure sound judgement in the assessment of the strengths and weaknesses of modelling approaches.
  • Raised model issues when identified model limitations are not adequately mitigated, and assessed the proposed mitigation plans when they are submitted.
• Governance
  • Contribute to maintaining sound and comprehensive data in GAME, our central Model Risk Inventory and model Lifecycle Management reporting tool.
  • Actively participate in the governance processes that oversee the performance of the valuation models.
  • Ensure compliance with the Group Model Risk Policy and Standards, as well as with the FM Model Family standards.
  • Ensure compliance with any Operational Risk controls processes that relate to validation activities.
  • Aware of the regulatory framework in which the Group operates, existing and emerging regulatory requirements, and the expectations relevant to the role.
• Regulatory & Business Conduct
  • Display exemplary conduct and live by the Group’s Values and Code of Conduct.
  • Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank.
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders

• Global Head of Traded Risk Model Validation, ERM
• TRM Validation members located in other countries
• Risk Management and model developers
• Front Office traders

Other Responsibilities

• Embed Here for good and Group’s brand and values in Traded Risk Model Validation team. Support of the TRM Validation teams in London and Singapore in ad hoc topics within the scope of Model Risk Management.

Skills and Experience

• Statistical / Machine Learning models
• FX/Rate e-markets
• Coding (Python)
• Mathematical Finance
• Stochastic calculus and numerical analysis
• Financial derivatives
• Writing and oral communication skills

Qualifications

• Strong quantitative background, PhDs or equivalent in highly numerical subject such as mathematics, physics, engineering or mathematical finance.
• Demonstrable knowledge and ability to apply statistical and machine learning techniques.
• Familiarity with hit rate models, execution algorithm, automated hedging, alpha prediction.
• Practical knowledge of optimization, statistics and machine learning (e.g. time series analysis, classification, supervised and unsupervised learning) and applications in finance is desirable.
• Proven experience in either a model validation or model development role covering algorithmic trading / pricing for a minimum of 5 years is desirable.
• Advanced knowledge of FX/Fixed Incomes markets with deep understanding of market practices and market drivers is required.
• Proficiency in Python (other languages would be considered).
• Experience with typical data sets that are used in Rates/FX e-trading is desirable (e.g. Request for Quotes; Trade information; bond prices; Swap Rates).
• Experience with ePricing platforms is highly desirable.
• English

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.