Model Validation - Specialist in London York Road

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

Job summary

A global energy company in London seeks a Model Validation Specialist to analyze algorithms for risk measurement in complex energy portfolios. Candidates should have experience in financial mathematics and energy markets. The role involves collaborating with various stakeholders and ensuring the reliability of models used in risk management. Excellent problem-solving and communication skills are crucial.

Benefits

Competitive salary

Paid parental leave

Career development programs

Diverse and inclusive work environment

Qualifications

• 5-8 years of experience in risk management in the Energy industry.
• General knowledge of energy markets.
• Ability to communicate complex ideas to diverse audiences.

Responsibilities

• Perform model validation and analyze derivatives and assets.
• Review processes and determine adjustments for models.
• Collaborate with stakeholders and team members.

Skills

Advanced financial mathematics

Data analysis techniques

Communication skills

Strong analytical skills

Teamwork

Proficiency in Microsoft Office Suite

Knowledge of SQL

Experience with Python, R, or MatLab

Education

Degree in relevant field (Bachelor's or above)

Tools

SQL (TOAD or GOLDEN)

VBA in Excel

QlikSense

Power BI

Job description

Job Family Group: Finance

Worker Type: Regular

Posting Start Date: October 30, 2025

Business unit: Finance

Experience Level: Experienced Professionals

Job Description

What you will be doing:

The candidate will participate in the validation of models used in the valuation and risk measurement of commodity portfolios, physical assets and financial instruments, as well as the formulation of market and input data for Global Energy markets. She or he is based in London, Houston, Singapore or Bangalore.

They will bridge seven areas:

• Assessment that a model is “fit for purpose” and to analyze complex derivatives and assets such as Natural Gas & Oil Storage, LNG & Freight Cargos, Transport, Transmission, Power and Battery Storage, and to calculate portfolio metrics like Market Value at Risk (VaR), Credit Potential Future Exposure (PFE) and Economic Capital.
• Analysis of model algorithms applying different validation techniques, including the use of challenger models internally built or procured externally.
• Review of the process underlying a model including inputs and outputs flows.
• Determination of adjustments to the model required to mitigate weaknesses.
• Maintenance and extension of the Model Validation policy.
• Inventory of models used within the Risk Management Function (RMF) and without as requested.
• Collection of code and documentation for successive model versions.

The different professionals involved in these activities along with the Group manager will intervene on a model at three levels:

• The Scientist Senior Analyst will investigate the conceptual underpinnings of the model and audit the embedded algorithms with a view to identifying limitations to the model and remediations.
• The Engineer Analyst will consider the cases where the model is applied and formulate test scripts to verify that inputs & parameters are used appropriately to generate outputs that are properly understood.
• The Technician Specialist Analyst will compile the information related to the model and execute test scripts.

Engagement of the Model Validation specialists with external stakeholders will be very significant, starting with other groups in the RMF such as Quantitative Analysis, Portfolio Valuation, Market Risk Management Advisory, Market Risk Operations, Risk Management Transformation and Credit Risk Management Advisory.

They will also interface ongoing with Commercial Traders, Originators & Structurers, Quantitative Analysts & Research Analysts as well as Back‑Office and Information Technology Departments.

The Model Validation specialists also participate in educational efforts with benefits across RMF and the firm.

Requirements

The skills required for the tasks include:

• Application of advanced financial mathematics to formulate algorithms used for valuation and risk measurement of complex derivatives, assets and portfolios.
• Industry experience in structuring and balancing these deals and portfolios while selecting the appropriate inputs & parameters for modeling.
• Abilities in multiple software tools to analyze the code underlying a model and build challenger models by transforming algorithms quickly in working applications.
• Data analysis techniques allowing to follow data extraction, transformation and interfacing from numerous corporate systems into a model application.
• Communication methods to explain the model implications to senior management as well as quantitative specialists who built and are using the model.
• A degree in business administration, finance, economics, mathematics, engineering or information systems at the bachelor’s or above level for the Technician specialist and master’s to PhD for the Engineer and Scientist.
• General knowledge of energy markets, natural gas, power, emissions, oil crude & products and LNG.
• Preferably 5‑8 years of relevant experience in risk management in the Energy industry.
• CQF, ERP, FRM and other related certifications are welcome.
• Excellent critical thinking and problem‑solving skills.
• Strong analytical skills with attention to detailed data analysis and complex model configuration.
• Ability to multi‑task and accommodate organic changes in requirements for deliverables.
• Ability to work as a team member and with all members of the organization.
• Ability to communicate complex technical ideas, regardless of the technical capacity of the audience.
• Proficiency with Microsoft Office Suite, SharePoint and Teams.
• Knowledge of SQL (e.g., TOAD or GOLDEN), VBA in/excel, C# and .Net.
• Experience with analytical tools such as Python, R, MatLab or SAS.
• Usage of QlikSense, QlikView, Spotfire, Power BI or Alteryx.
• Navigation in Energy Trading and Risk Management systems (ETRMs) such as Ion OpenLink, Endur, SunGard Nucleus, FIS Aligne, CubeLogic and connecting analytical libraries like Lacima, Kyos, Topaz, SAS Viya, ZEMA cQuant, Numerix, Ion Allegro, FEA & Open Source Risk (OSR).
• Application processing in Microsoft Azure Cloud and AWS.

Benefits

What we offer:

• Progress as a person as we work on the energy transition together.
• Continuously grow the transferable skills you need to get ahead.
• Work at the forefront of technology, trends, and practices.
• Collaborate with experienced colleagues with unique expertise.
• Achieve your balance in a values‑led culture that encourages you to be the best version of yourself.
• Perform at your best with a competitive starting salary and annual performance related salary increase – our pay and benefits packages are considered to be among the best in the world.
• Take advantage of paid parental leave, including for non‑birthing parents.
• Join an organisation working to become one of the most diverse and inclusive in the world. We strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, and life experiences to apply.
• Grow as you progress through diverse career opportunities in international teams.
• Gain access to a wide range of training and development programs.

Disclaimer

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