Quant Model Risk Analyst

JPMorgan Chase & Co.; Greater London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading global financial institution is seeking a Model Risk Analyst/Associate in Greater London. In this role, you will analyze complex pricing models, develop benchmarks, and enhance model risk governance. Ideal candidates should have a strong foundation in probability theory, option pricing, and programming skills in C/C++ and Python. This opportunity allows for collaboration with professionals in finance and model development, contributing to critical risk management decisions in a dynamic environment.

Qualifications

• Excellence in probability theory, stochastic processes, statistics, and numerical analysis.
• Strong understanding of option pricing theory and quantitative models for derivatives.
• Experience with Monte Carlo and numerical methods.
• Strong analytical and problem-solving abilities.
• Proficiency in C/C++ programming and Python.
• Inquisitive nature with excellent communication skills.
• Teamwork-oriented mindset.

Responsibilities

• Analyze the conceptual soundness of complex pricing models and reserve methodologies.
• Develop and implement alternative model benchmarks and performance metrics.
• Liaise with model developers, trading desks, and risk professionals for guidance.
• Maintain model risk control apparatus and serve as the first point of contact.

Skills

Probability theory

Stochastic processes

Statistics

Numerical analysis

Option pricing theory

Quantitative models for derivatives

Analytical skills

Problem-solving

C/C++ programming

Python

Communication skills

Teamwork

Education

MSc or equivalent in a relevant field

Job description

Are you ready to make a significant impact in the world of model risk management? At Model Risk Governance and Review Group (MRGR), we are at the forefront of assessing and mitigating model risks across the globe. With a presence in major financial hubs like New York, London, Mumbai, and Paris, our team collaborates with top professionals in Risk, Finance, and Model Development. This is your chance to work in a dynamic environment, gain exposure to various business areas, and contribute to critical decision‑making processes.

As a Model Risk Analyst/Associate in the Model Risk Governance and Review team, you will play a crucial role in reviewing credit derivatives models and enhancing model risk governance. You will collaborate with model developers, trading desks, and risk professionals to ensure the soundness and suitability of complex pricing models. Together, we will drive innovation and maintain robust model risk controls.

Job responsibilities

• Analyze the conceptual soundness of complex pricing models and reserve methodologies.
• Develop and implement alternative model benchmarks and performance metrics.
• Liaise with model developers, trading desks, and risk professionals to provide guidance on model risk and usage.
• Maintain model risk control apparatus and serve as the first point of contact for the coverage area.

Required qualifications, capabilities, and skills

• Excellence in probability theory, stochastic processes, statistics, and numerical analysis.
• Strong understanding of option pricing theory and quantitative models for derivatives.
• Experience with Monte Carlo and numerical methods.
• Strong analytical and problem‑solving abilities.
• MSc or equivalent in a relevant field.
• Proficiency in C/C++ programming and Python.
• Inquisitive nature with excellent communication skills.
• Teamwork‑oriented mindset.

Preferred qualifications, capabilities, and skills

• Experiencewithcredit derivatives