Model Validation Specialist | London, UK

Deutsche Bank; London; Hybrid; GBP 50,000 - 90,000; Full time

Job description

Model Validation Specialist

Deutsche Bank London, United Kingdom Apply now Posted 17 hours ago Permanent Competitive

Job Description:

Job Title: Model Validation Specialist

Location: London

Corporate Title: AVP

You will join the Model Risk Management (MoRM) team which provides oversight and governance for senior managers of model analytics and their implementation into the risk architecture that drive valuation, risk, and stress results. Model Validation as part of MoRM is responsible for the review and analysis of all pricing models used for valuation and risk across the bank.

What we'll offer you:

• Hybrid Working - we understand that employee expectations and preferences are changing. We have implemented a model that enables eligible employees to work remotely for a part of their working time and reach a working pattern that works for them.
• Competitive salary and non-contributory pension.
• 30 days' holiday plus bank holidays, with the option to purchase additional days.
• Life Assurance and Private Healthcare for you and your family.
• A range of flexible benefits including Retail Discounts, a Bike4Work scheme and Gym benefits.
• The opportunity to support a wide ranging CSR programme + 2 days' volunteering leave per year.

Your key responsibilities:

• Validating models and the creation of validation reports for market risk models.
• Reviewing the methodologies used to generate scenarios and revalue positions, in the space of Profit & Loss stress testing and Value at Risk.
• Reviewing and challenging the mathematical/theoretical soundness of the model, check independently its implementation, and assess its suitability for the quantity modelled.
• Supporting the model developers and owners and communicating in a structured manner with wider model risk stakeholders on every aspect of the model risk management lifecycle.
• Reviewing of model performance and applicability as well as the validation and review of model changes.

Your skills and experience:

• Post-graduate qualification (or equivalent qualification / work experience) in a numerate subject such as Mathematics, Physics, Statistics, Finance (PhD or equivalent is not required but would be beneficial).
• Experience in model validation, other quantitative risk management role or Front Office quantitative discipline.
• Excellent mathematical ability with a strong understanding of stochastic calculus, partial differential equations, Monte-Carlo methods, finite difference methods, numerical algorithms, and statistical methods. Understanding of stress testing and VAR methodologies or cross-asset pricing models is a plus.
• You have experience in coding in Python in a managed codebase or equivalent languages.
• Self-motivated and proactive team player that possesses excellent communication skills, both written and spoken.

How we'll support you:

• Training and development to help you excel in your career.
• Flexible working to assist you balance your personal priorities.
• Coaching and support from experts in your team.
• A culture of continuous learning to aid progression.
• A range of flexible benefits that you can tailor to suit your needs.
• We value diversity and as an equal opportunities' employer, we make reasonable adjustments for those with a disability such as the provision of assistive equipment if required (e.g. screen readers, assistive hearing devices, adapted keyboards).

About us:

Deutsche Bank is the leading German bank with strong European roots and a global network. Deutsche Bank in the UK is proud to have been named in The Times Top 50 Employers for Gender Equality 2024 for five consecutive years. Additionally, we have been awarded a Gold Award from Stonewall and named in their Top 100 Employers 2024 for our work supporting LGBTQ+ inclusion.

We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.

Together we share and celebrate the successes of our people. Together we are Deutsche Bank Group.

We welcome applications from all people and promote a positive, fair and inclusive work environment.