Senior Manager Risk Management

Intercontinental Exchange; City of Westminster; On-site; GBP 70,000 - 90,000; Full time

Job summary

A leading financial services firm based in the UK is seeking a Quantitative Risk Manager to join their Model Risk Management team. This role focuses on validating risk models used in clearing, ensuring accuracy and compliance with regulatory standards. The successful candidate will have an advanced degree in a quantitative field, strong experience in model validation, and proficiency in Python and SQL. This position offers opportunities for technical expertise and career growth within a collaborative team environment.

Qualifications

• Strong knowledge of market, credit, and liquidity risk frameworks.
• Excellent verbal and written communication skills.
• Strong understanding of option pricing theory and statistical risk modelling techniques.

Responsibilities

• Conduct independent validation of risk and pricing models.
• Document validation findings and communicate risks.
• Continuously monitor model performance and identify changes.

Skills

Model validation

Quantitative analysis

Python

SQL

Communication skills

Education

Advanced degree (MSc/PhD) in Mathematics, Statistics, or Quantitative Finance

Tools

NumPy

Pandas

Job description

Overview

ICE Clear Europe is seeking a Quantitative Risk Manager to join its Model Risk Management team. This role is responsible for validating and monitoring risk models used in the clearing house, ensuring their accuracy, robustness, and compliance with regulatory standards. The position involves end-to-end model risk assessment across initial margin, add-ons, and stress testing frameworks, with a focus on market, credit, and liquidity risk. This is an exciting opportunity for a technical expert looking for broader model and management exposure in a collaborative and flat organizational structure at the centre of financial markets.

Responsibilities

• Conduct independent validation of risk and pricing models and review of stress testing frameworks, including conceptual soundness, assumption reasonableness, and performance benchmarking.
• Document validation findings, communicate risks, and recommend improvements.
• Continuously monitor model performance, review first-line risk management monitoring approaches, and identify and drive model changes or risk mitigating actions.
• Provide guidance on model usage and act as a key stakeholder liaison for new models and changes.
• Stay updated on evolving market practices, regulatory requirements, and quantitative methodologies.
• Guide and mentor junior team members in executing validation tasks and developing technical capabilities.

Knowledge and Experience

• Advanced degree (MSc/PhD) in Mathematics, Statistics, Quantitative Finance, or related field.
• Strong experience in model validation, quantitative analysis, or risk analytics.
• Strong knowledge of market, credit, and liquidity risk frameworks.
• Proficiency in Python (NumPy, Pandas, etc.) and SQL for data analysis.
• Strong understanding of option pricing theory and statistical risk modelling techniques (VaR, Backtesting, Stress Testing).
• Excellent verbal and written communication skills.

Desirable Knowledge and Experience

• Industry certifications (PRM, FRM, CFA).
• Experience in a clearing house, trading firm, bank or similar financial institution.
• Knowledge of SR 11-7 model risk guidelines and exchange-traded derivatives.

Job Purpose

With approximately 5 million contracts cleared every day across multiple asset classes, ICE Clear Europe (ICEU) is one of the world's most diverse and leading clearing houses. As a clearing house, ICEU performs a critical role in ensuring market stability especially through periods of volatility and increased uncertainty. It provides central counterparty clearing and risk management services for global energy, interest rate, equity index, and agricultural derivatives. We leverage advanced quantitative models to effectively manage market risk for exchange-traded derivatives, credit risk of clearing members and counterparties, and liquidity risk associated with posted collateral. Our risk framework ensures resilience in dynamic market conditions while upholding the highest regulatory and operational standards. The Model Risk Management team, part of the Risk Oversight Department, is responsible for all aspects of model governance & control, model