Quant Model Risk Analyst — Valuation & Governance

JPMorganChase; Greater London; On-site; GBP 90,000 - 130,000; Full time

Job summary

J.P. Morgan is seeking an Analyst/Associate in Model Risk Governance and Review to evaluate valuation, risk, valuation adjustment, and prudent valuation methodologies across the Corporate & Investment Bank. The role emphasizes independence, rigorous testing, and clear communication of findings.

You will apply Python and data analysis to design tests, review derivatives processes, and contribute to governance discussions with senior stakeholders and regulators.

Qualifications

• Strong quantitative background in mathematical finance, statistics, applied mathematics, physics, engineering, computer science, or a related discipline.
• Practical coding ability in Python, with data analysis experience.
• Understanding of derivatives pricing, risk sensitivities, calibration, and numerical methods.
• Strong analytical judgement and ability to challenge assumptions.
• Excellent written and verbal communication skills.
• Inquisitive, evidence-driven mindset with the ability to defend conclusions.
• Strong risk and control mindset with handling of confidential information.
• Ability to collaborate across teams and manage shifting priorities.

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

Quantitative background

Python coding

Derivatives knowledge

Analytical judgement

Communication skills

Curiosity

Risk & controls

Collaboration

Tools

Python

Job description

J.P. Morgan is seeking an Analyst/Associate in Model Risk Governance and Review to evaluate valuation, risk, valuation adjustment, and prudent valuation methodologies across the Corporate & Investment Bank. The role emphasizes independence, rigorous testing, and clear communication of findings.

You will apply Python and data analysis to design tests, review derivatives processes, and contribute to governance discussions with senior stakeholders and regulators.