Quant Model Risk Analyst/Associate

JPMorganChase; Greater London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading global financial services firm is seeking a Model Risk Analyst/Associate in London to assess and mitigate model risks within their Model Risk Governance and Review team. The ideal candidate will analyze complex pricing models, collaborate with various professionals, and contribute to robust model governance. This position offers the opportunity to work in a dynamic environment focused on innovation and critical decision-making processes while ensuring sound risk practices.

Qualifications

• Solid understanding of stochastic processes and numerical analysis.
• Experience analyzing derivatives and complex pricing models.
• Ability to work collaboratively with model developers and trading desks.

Responsibilities

• Analyze the conceptual soundness of complex pricing models.
• Develop alternative model benchmarks.
• Liaise with model developers for model risk guidance.
• Maintain model risk control measures.

Skills

Strong analytical and problem-solving abilities

Excellence in probability theory

Proficiency in C/C++ programming

Strong understanding of option pricing theory

Experience with Monte Carlo and numerical methods

Inquisitive nature

Excellent communication skills

Teamwork-oriented mindset

Education

MSc or equivalent in a relevant field

Tools

Python

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

• Experience with credit derivatives

About Us

J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world's most prominent corporations, governments, wealthy individuals and institutional investors. Our first‑class business in a first‑class way approach to serving clients drives everything we do. We strive to build trusted, long‑term partnerships to help our clients achieve their business objectives.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

About the Team

Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we're setting our businesses, clients, customers and employees up for success.