Quant Model Risk Analyst: Valuation & Governance

JPMorgan Chase & Co.; Greater London; On-site; GBP 65,000 - 105,000; Full time

Job summary

JPMorgan Chase & Co. is seeking an Analyst/Associate in Model Risk Governance and Review's Valuation Control Group to perform independent reviews of valuation, risk, valuation adjustment, and prudent valuation methodologies across the Corporate & Investment Bank.

You will use Python and data analysis techniques to design tests, evaluate methodology specifications, and communicate conclusions to stakeholders, contributing to robust risk governance and model integrity.

Qualifications

• Strong quantitative background in mathematical finance, statistics, applied mathematics, physics, engineering, computer science, or a related discipline.
• Practical coding ability in Python or a comparable programming language, with data analysis experience.
• Understanding of derivatives pricing, risk sensitivities, calibration, probability, statistics, and numerical methods.
• Strong analytical judgement, including challenging assumptions and assessing materiality.

Responsibilities

• Evaluate the conceptual soundness of model and qualitative methodology specifications, including assumptions, mathematical structure, empirical evidence, limitations, and controls.
• Assess valuation, risk measurement, and valuation adjustment methodologies, including fair value, liquidity, concentration, close-out cost, market price uncertainty, future hedging cost, and prudent valuation approaches.
• Use Python and data analysis techniques to design targeted independent tests, including benchmark comparisons, sensitivity analysis, backtesting, threshold calibration, small-sample analysis, and materiality assessments.
• Review derivatives valuation and risk methodologies, including volatility dynamics, stochastic rates, jumps, correlation, curve construction, proxying, aggregation, and risk decomposition.
• Assess statistical, data science, and machine learning approaches where relevant, including calibration quality, feature engineering, validation metrics, explainability, and monitoring.
• Review implementation and data lineage, including upstream dependencies, market data, sensitivity generation, system flows, and downstream usage.
• Leverage approved AI and automation tools to accelerate evidence review, code understanding, data analysis, documentation drafting, and quality checks while maintaining independent judgement, confidentiality, and model risk standards.
• Document review findings clearly and communicate conclusions to model developers, valuation control, trading, finance, market risk, technology, senior management, auditors, and regulators.
• Represent the team in review meetings, governance discussions, and regulatory or audit interactions.
• Support model governance activities, including model inventory quality, issue tracking, ongoing performance monitoring outcomes, review planning, and the escalation of model risk issues.
• Contribute to the development of reusable tools, diagnostics, review standards, and governance practices while maintaining awareness of industry developments, regulatory expectations, and market practices.

Skills

Strong quantitative background

Python coding

Derivatives pricing understanding

Analytical judgement

Communication skills

Evidence-driven mindset

Risk & controls mindset

Cross-functional collaboration

Tools

Python

Job description

JPMorgan Chase & Co. is seeking an Analyst/Associate in Model Risk Governance and Review's Valuation Control Group to perform independent reviews of valuation, risk, valuation adjustment, and prudent valuation methodologies across the Corporate & Investment Bank.

You will use Python and data analysis techniques to design tests, evaluate methodology specifications, and communicate conclusions to stakeholders, contributing to robust risk governance and model integrity.