XVA Model Validator

Standard Chartered; City of Westminster; On-site; GBP 60,000 - 80,000; Full time

Job summary

An international bank in the City of Westminster is seeking a professional experienced in model validation to enhance and manage model risk. You will collaborate with various stakeholders, implement models, and ensure regulatory compliance. Ideal candidates should possess extensive experience in model validation or development, particularly in derivatives, along with practical coding skills in C++. Strong communication in English is essential.

Benefits

Competitive salary and benefits

Flexible working options

Continuous learning culture

Qualifications

• Extensive experience related to pricing or risk modeling for derivatives.
• Direct experience in XVA model validation or development is desirable.
• Ability to work effectively within a global team.

Responsibilities

• Liaise with key stakeholders throughout the model risk lifecycle.
• Implement models and develop testing suites for model risk.
• Deliver validations of high quality and on time.

Skills

Extensive expertise in model validation or model development

Knowledge of Financial Mathematics including Stochastics for XVA

Strong communication skills

Fluency in written and spoken English

Practical coding experience in C++

Education

PhD in mathematics, physics, engineering, or mathematical finance

Job description

Responsibilities

• Liaise with key stakeholders, including sales & trading, front office quantitative analysts and developers, XVA, market risk management, counterparty risk management, and valuation control throughout the model risk model lifecycle.
• Implement independent benchmark/alternative models and development of standardized testing suites to enable exploration and quantification of model risk.
• Ensure sound judgement in assessing strengths and weaknesses of modelling approaches and actively challenge assumptions and limitations, as well as mitigate model risks via controls and reserves.
• Deliver validations of high quality and according to agreed timelines.
• Apply good practice with coding standards and reviews, as well as with documentation.
• Cooperate with and mentor junior members of the Model Risk Team.
• Apply Model Risk Governance Policies and Standards and ensure compliance with any Model / Operational Risk controls over processes related to validation activities.
• Maintain awareness and understanding of the regulatory framework in which the Group operates, including existing and emerging regulatory requirements and role‑relevant expectations.

Qualifications

• Extensive expertise in model validation or model development roles related to pricing or risk modelling for derivatives.
• Knowledge of Financial Mathematics including Stochastics for XVA and/or pricing of derivatives and basic statistics.
• Recent direct experience in XVA model validation or development is highly desirable.
• Practical coding experience, preferably in C++.
• Strong communication skills to work effectively within a Global Team and liaise with key stakeholders.
• Fluency in written and spoken English.
• PhD in mathematics, physics, engineering, or mathematical finance is advantageous.

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us. Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion. Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

Benefits

• In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time‑off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first‑aiders and all sorts of self‑help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values‑driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies – everyone feels respected and can realise their full potential.

Recruitment Process

Some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.