Associate Quantitative Analyst, Model Validation

Jefferies; London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A financial services firm in London is seeking an Associate Quantitative Analyst for their Model Validation team. The role involves performing independent validation of models, conducting annual reviews, and assessing model risk. The ideal candidate should have an MSc or PhD in a quantitative field, strong analytical and programming skills, and excellent communication abilities. This position offers opportunities for strategic initiatives within the model risk team.

Qualifications

• Ability to find practical solutions to challenging problems.
• Good familiarity with market risk and derivative pricing models.

Responsibilities

• Perform independent validation and approval of models.
• Conduct annual review and revalidation of existing models.
• Provide effective challenge to model assumptions.
• Assess and quantify the model risk arising from model limitations.
• Contribute to strategic cross-functional initiatives.
• Oversee ongoing model performance monitoring.
• Communicate model validation results to stakeholders.

Skills

Strong communication skills

Teamwork and collaboration

Analytical skills

Programming skills in Python

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