Quant Modeling Analyst

JPMorgan Chase & Co.; London; On-site; GBP 60,000 - 90,000; Full time

Job summary

Join a leading financial services firm as a Quant Modeling Analyst in the Model Risk Governance group. You will assess complex models for electronic trading and collaborate with various stakeholders to ensure effective model risk management. This role offers exposure to diverse business areas and the opportunity to contribute to risk mitigation strategies.

Qualifications

• Strong analytical and problem-solving skills.
• Expertise in probability theory, stochastic processes, and statistics.
• Excellent written and verbal communication skills.

Responsibilities

• Evaluate model specifications and assumptions.
• Perform independent testing of models.
• Document review findings and communicate to stakeholders.

Skills

Analytical Skills

Problem Solving

Communication

Education

Master's or PhD in Mathematics

Master's or PhD in Physics

Master's or PhD in Engineering

Master's or PhD in Computer Science

Master's or PhD in Economics

Master's or PhD in Finance

Tools

C/C++

Python

NumPy

SciPy

Pandas

SQL

TensorFlow

Job description

Job Description

We are seeking a new member to join our cross-asset team in the Model Risk Governance and Review group, responsible for end-to-end model risk management across the firm for electronic trading, strategic indices, and prime services models.

As a Quant Modeling Analyst in our group, you will assess and help mitigate the model risk of complex models used in valuation, risk measurement, capital calculation, and decision-making. You will gain exposure to various business and functional areas and collaborate closely with model developers and users.

Job Responsibilities

1. Evaluate the conceptual soundness of model specifications, assumptions, input reliability, testing completeness, implementation correctness, and performance metrics.
2. Perform independent testing of models by replicating or building benchmark models.
3. Design experiments to assess model limitations, parameter estimation errors, and deviations from assumptions; compare outputs with empirical data or benchmarks.
4. Evaluate risks from non-transparent parameters and non-linear relationships, and suggest mitigation strategies.
5. Document review findings and communicate them to stakeholders.
6. Serve as the primary contact for model governance inquiries and escalate issues as needed.
7. Guide model developers, users, and stakeholders on appropriate model usage.
8. Monitor ongoing performance testing outcomes and communicate results to stakeholders.
9. Maintain the model inventory and metadata for the coverage area.
10. Keep abreast of developments in products, markets, models, risk practices, and industry standards.

Required Qualifications and Skills

1. Master's or PhD in Mathematics, Physics, Engineering, Computer Science, Economics, or Finance.
2. Strong analytical and problem-solving skills.
3. Expertise in probability theory, stochastic processes, statistics, PDEs, and numerical analysis.
4. Risk-aware mindset: ability to question, assess materiality, and escalate issues.
5. Excellent written and verbal communication skills.
6. Understanding of option pricing theory and derivatives models.
7. Proficiency in coding, e.g., C/C++ or Python.

Preferred Qualifications

1. Experience with data/numeric programming (NumPy, SciPy, Pandas).
2. Database interfacing and data management (kdb, q, SQL).
3. Experience with ML packages like TensorFlow.

About Us

J.P. Morgan is a global leader in financial services, providing strategic advice and products to prominent clients worldwide. Our approach emphasizes building trusted, long-term partnerships to help clients achieve their objectives. We value diversity and inclusion, ensuring equal opportunities for all employees and applicants.

About the Team

Our Commercial & Investment Bank operates across banking, markets, securities services, and payments, serving clients in over 100 countries. We provide strategic advice, capital raising, risk management, and liquidity extension services globally.