Senior Model Risk Analyst: Validation & Pricing

NCSL International; Greater London; Hybrid; GBP 90,000 - 130,000; Full time

Job summary

ICE Clear Europe seeks a Senior Model Risk Analyst to join its Model Risk Management team, focusing on validating and monitoring pricing and risk models used in the clearing house. You will ensure accuracy, robustness, and regulatory compliance across initial margin, add-ons, and stress-testing frameworks.

In this role you will conduct independent validation, document findings, and drive improvements while staying current with evolving market practices and regulatory requirements.

Qualifications

• Advanced degree (MSc/PhD) in Mathematics, Statistics, Quantitative Finance, or related field.
• 3+ years of experience in model validation, quantitative analysis, or risk analytics.
• Strong knowledge of market, credit, or 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.

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
• Review model change and calibration proposals
• Stay updated on evolving market practices, regulatory requirements, and quantitative methodologies.
• Provide technical interpretations to regulatory text
• Utilise programming skills to execute validation tasks and develop technical capabilities and tools for model testing, model monitoring and other related analytics.

Skills

Python (NumPy, Pandas)

SQL

Model risk validation

Quantitative analysis

Risk analytics

Education

Master's or PhD in Mathematics/Statistics/Quantitative Finance

Job description

ICE Clear Europe seeks a Senior Model Risk Analyst to join its Model Risk Management team, focusing on validating and monitoring pricing and risk models used in the clearing house. You will ensure accuracy, robustness, and regulatory compliance across initial margin, add-ons, and stress-testing frameworks.

In this role you will conduct independent validation, document findings, and drive improvements while staying current with evolving market practices and regulatory requirements.