Quant Model Risk Analyst/Associate

Location: LONDON, LONDON, United Kingdom

Job Family: Quant Analytics

About the Role

JPMorgan Chase & Co. is a leading global financial services firm with assets of $3.9 trillion and operations worldwide. We operate in over 60 countries, providing innovative solutions in investment banking, consumer and commercial banking, treasury services, and asset management. Our Model Risk Governance and Review (MRGR) team in London plays a critical role in ensuring the robustness of quantitative models across our businesses, particularly in managing risks associated with complex financial instruments. As a Quant Model Risk Analyst/Associate, you will join this dynamic team to focus on reviewing and enhancing models for credit derivatives, contributing to the firm's commitment to sound risk management and regulatory compliance in the financial services industry. In this role, you will perform independent validation of credit derivatives models, including those for collateralized debt obligations (CDOs), credit default swaps (CDS), and other structured products. Your work will involve scrutinizing model methodologies, testing assumptions under various market scenarios, and identifying potential weaknesses that could impact trading, hedging, or capital adequacy. Collaborating closely with quants, risk officers, and business leaders, you will help strengthen our model risk framework, aligning with global standards such as those from the PRA, ECB, and OCC. This position offers exposure to cutting-edge quantitative techniques and the opportunity to influence governance practices at one of the world's largest banks. We seek candidates with a strong quantitative background and a passion for financial risk. At JPMorgan Chase, we value diversity and inclusion, fostering an environment where innovative thinking drives our success. This role provides a platform for professional growth, with access to mentorship, training, and career progression within our Quant Analytics category. If you are ready to contribute to a team that safeguards the integrity of our financial models in a vibrant London hub, join us in building a more resilient future for global finance.

Key Responsibilities

• Review and validate credit derivatives models used in trading, risk management, and capital calculations
• Assess model assumptions, limitations, and potential risks to ensure compliance with internal and regulatory standards
• Collaborate with quant developers, traders, and risk managers to enhance model performance and governance
• Conduct independent model testing, sensitivity analysis, and scenario simulations for credit products
• Contribute to the development of model risk policies and procedures within the MRGR team
• Monitor model performance and recommend remediation actions for underperforming models
• Prepare detailed reports and presentations on model risk findings for senior stakeholders
• Stay updated on industry best practices and regulatory changes affecting credit risk modeling
• Support ad-hoc projects related to model risk in derivatives and structured finance
• Foster a culture of risk awareness and continuous improvement in quantitative analytics

Required Qualifications

• Bachelor's degree in quantitative field such as Mathematics, Physics, Engineering, or Finance
• Minimum 2-3 years of experience in quantitative analysis, model risk management, or credit risk modeling in financial services
• Strong understanding of credit derivatives, including CDS, CDOs, and related pricing models
• Proficiency in statistical modeling and risk assessment techniques
• Experience with regulatory frameworks like Basel III, SR 11-7, and model risk governance
• Ability to work in a fast-paced, collaborative environment in London
• Fluency in English with excellent written and verbal communication skills

Preferred Qualifications

• Master's or PhD in a quantitative discipline
• Prior experience at a major investment bank or regulatory body in model validation
• Familiarity with JPMorgan's internal risk management systems
• Certifications such as FRM (Financial Risk Manager) or CFA
• Knowledge of machine learning applications in credit risk modeling

Required Skills

• Quantitative modeling and statistical analysis
• Credit derivatives pricing and valuation
• Model validation and risk assessment
• Programming in Python, R, or MATLAB
• Data analysis and visualization tools (e.g., SQL, Excel, Tableau)
• Understanding of financial regulations and compliance
• Strong analytical and problem-solving abilities
• Attention to detail and accuracy in complex datasets
• Effective communication and presentation skills
• Team collaboration and stakeholder management
• Time management in high-pressure environments
• Knowledge of stochastic processes and Monte Carlo simulations
• Risk governance and policy development
• Adaptability to evolving market conditions
• Ethical judgment in financial decision-making

Benefits

• Competitive base salary and performance-based annual bonus
• Comprehensive health, dental, and vision insurance coverage
• Generous pension contributions and retirement savings plans
• Paid time off including vacation, sick leave, and parental leave
• Professional development opportunities with tuition reimbursement and internal training programs
• Employee stock purchase plan and financial wellness resources
• Flexible working arrangements and hybrid work options in London
• Access to JPMorgan's global wellness programs, including gym memberships and mental health support

JP Morgan Chase is an equal opportunity employer.