Associate Quantitative Analyst, Model Validation

Jefferies; City Of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading financial firm in London seeks an Associate Quantitative Analyst for the Model Validation function. The role involves independent validation and approval of models, conducting reviews, and communicating results to stakeholders. Ideal candidates should have an MSc or PhD in a quantitative field, strong communication skills, and proficiency in Python programming. This position offers a unique opportunity to impact model risk management at the firm.

Qualifications

• Must have strong communication skills and practical problem-solving abilities.
• Teamwork and collaboration skills are essential.
• Solid analytical background with experience in programming.

Responsibilities

• Validate and approve models independently.
• Conduct annual reviews and revalidations of models.
• Challenge model assumptions and formulations.
• Assess model risk and inform stakeholders.
• Monitor ongoing model performance.
• Communicate validation results to stakeholders.

Skills

Communication skills

Teamwork

Analytical skills

Programming in Python

Understanding of market risk

Education

MSc or PhD in a quantitative field

Job description

Team

The primary mandate ofModel Validation Team is to manage risk that arises from models used in the firm throughout its range of businesses, including models used for derivatives valuation, market and credit risk management, liquidity, and capital computations. The team is responsible for independently reviewing models for validity, theoretical consistency and implementation accuracy, as well as assessing the risk associated with model choice.

Role

Jefferies is looking for an Associate Quantitative Analyst to join our Model Validation function.

Key Responsibilities

• Perform independent validation and approval of models, including raising and managing model validation findings
• Conduct annual review and revalidation of existing models
• Provide effective challenge to model assumptions, mathematical formulation, and implementation
• Assess and quantify the model risk arising from model limitations, to inform stakeholders of their risk profile and development of compensating controls
• Contribute to strategic, cross-functional initiatives within the model risk team
• Oversee ongoing model performance monitoring, including benchmarking, process verification and outcome analysis performed by model developers
• Communicate the results of model validation activities, model limitations and uncertainties to the key stakeholders and management

Qualifications

• MSc or preferably PhD in a quantitative field (physics, mathematics, computer science, financial engineering, etc.)
• Strong communication skills with the ability to find practical solutions to challenging problems
• Teamwork and collaboration skills a must
• Strong analytical and programming skills (numerical techniques, coding in Python)
• Good familiarity with market risk and derivative pricing models