Quant Model Risk Associate/Vice President - Equities

JPMorgan Chase & Co.; Greater London; On-site; GBP 120,000 - 190,000; Full time

Job summary

JPMorgan Chase & Co. in London seeks a Model Risk Associate/VP to review equity derivatives models and strengthen model risk governance within MRGR. You will collaborate with model developers, trading desks, and risk professionals to ensure sound pricing models and robust controls.

The role offers exposure across global markets and multiple business areas. The ideal candidate has MSc-level training in quantitative fields, strong analytical and communication skills, and fluency in C/C++ and

Qualifications

• Advanced knowledge of 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.

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.

Skills

Probability theory

Stochastic processes

Statistics

Numerical analysis

Option pricing theory

Monte Carlo

C/C++

Python

Communication skills

Teamwork

Education

MSc or equivalent in a relevant field

Tools

Python

C/C++

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 Associate/Vice President in the Model Risk Governance and Review team, you will play a crucial role in reviewing equityderivatives 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

• Experiencewithequity derivatives