Senior Market Risk Model Developer

Experis UK; Greater London; On-site; GBP 90,000 - 120,000; Full time

Job summary

Experis UK is seeking a senior professional to lead the development and analysis of Market Risk models, with a focus on FRTB IMA compliance for Equity and FX. You will partner with Risk Transformation and Financial Engineering to define objectives, develop and test models in Python, and produce robust documentation, ensuring regulatory alignment.

The role requires expertise in derivatives, pricing, risk models, and strong communication with Front Office Traders, Quants, Traded Risk, and IT.

Qualifications

• Master’s level qualification as listed.
• FRTB/IMA familiarity must be demonstrated.
• Strong knowledge of derivative products, pricing and risk models.
• Experience producing clear technical documentation.
• Proven collaboration in change-driven environments with tech, controls and project teams.
• Experience with version control (Git/GitHub) and Jira; Agile a plus.
• Ability to investigate and replicate large IT platforms at prototype level.

Responsibilities

• Develop and re-design MR models (Equity and FX) for FRTB IMA compliance and other risk measures.
• Interpret regulatory/business requirements and propose fit-for-purpose modelling approaches.
• Collaborate with Risk Transformation and Financial Engineering teams end-to-end: define objectives, develop/test models in Python, document, and support validation.
• Act as SME in pricing and risk computations for Equity and FX; liaise with Front Office, Quants, Traded Risk, and IT.
• Build Python tools to test models, perform analyses, and quantify impacts of changes.
• Deliver new models within tight deadlines amid changing regulatory requirements.
• Maintain understanding of market risk measurement changes and translate to data classifications and reporting.
• Develop market risk methods using limited data; ensure adequacy through validation.

Skills

Market risk measures

FRTB/IMA regulations

Derivative pricing & risk models

Technical documentation

Stakeholder management

Agile workflow

Education

Master’s degree in Mathematics/Science/Engineering/IT

Tools

Git/GitHub

Jira

Python

Job description

Contract Length - Initially until end of Feb 2027

Senior role responsible for the development and analysis of Market Risk (MR) models. The role supports accurate risk measurement under FRTB IMA and related internal/regulatory requirements, and provides subject matter expertise across pricing and risk computations.

Key responsibilities

• Develop and re-design MR models (especially for Equity and FX) to support accurate measurement of FRTB IMA and other required risk measures, in line with internal governance and regulatory expectations.
• Interpret regulatory and business requirements and propose modelling approaches that are fit-for-purpose, well-controlled, and defensible under internal and regulatory scrutiny.
• Partner with Risk Transformation and Financial Engineering teams end-to-end: define modelling objectives, develop and test models in Python, produce model documentation, and support ongoing model assessment and validation.
• Act as an SME in pricing and risk computations for Equity and FX products; liaise effectively with Front Office Traders, Quants, Traded Risk, and technology teams.
• Build Python tools to test proposed models, perform required analysis, and quantify the impacts of model changes.
• Deliver new models to tight timeframes, managing a potentially changing set of regulatory requirements.
• Maintain strong understanding of market risk measurement changes and translate these into impacts on asset class data classifications and risk reporting.
• Develop market risk measurement methods using available (often limited) datasets and demonstrate adequacy, subject to appropriate model validation.
• Maintain a strong focus on input data quality (securing, monitoring, and improving data controls).
• Apply FRTB/Market Risk regulations carefully when implementing model prototypes.
• Build a clear understanding of the Traded Risk IT infrastructure, with the capacity to replicate it at prototype level; develop knowledge of HSBC’s traded risk systems globally and locally.
• Produce highly readable, reusable code to tight deadlines, conforming to team software development standards.
• Work autonomously and manage senior stakeholders across business, Traded Risk, and IT; collaborate across regions and functions.

Risk, controls and compliance

• Continually reassess operational risks associated with the role, considering changing market conditions, legal/regulatory requirements, operating practices, restructurings, and new technology.
• Demonstrate adherence to internal controls through compliance with procedures, appropriate record-keeping, and timely implementation of internal/external audit points (including regulatory issues).
• Implement Group compliance policy by containing compliance risk in liaison with Compliance, engaging early on new initiatives, and supporting a strong compliance culture.

Required qualifications and experience

• Master’s level qualification in Mathematics / Science / Engineering / IT (or equivalent).
• Clear, demonstrable familiarity with market risk measures and FRTB/IMA regulations.
• Strong knowledge of derivative products, pricing and risk models
• Experience producing clear, understandable technical documentation.
• Proven experience collaborating effectively in a change-driven environment, including with technology, internal controls, and project management teams.
• Experience with software build systems, version control (Git/GitHub) and issue trackers (JIRA). Experience in agile workflow is a plus.
• Ability to investigate and explain large IT platforms with limited documentation, and replicate them at prototype level.

Highly desirable

• Strong, demonstrable coding and model development skills (robust, testable, maintainable implementations).