Quant Model Risk Associate - Market Risk

Location: LONDON, United Kingdom

Job Family: Associates

About the Role

At JP Morgan Chase, we are seeking a Quant Model Risk Associate - Market Risk to join our dynamic team in London. This role is pivotal in safeguarding the integrity of our market risk models, which underpin trading activities across global markets. As a key member of the Model Risk Management group, you will play a crucial role in validating sophisticated quantitative models used for measuring and managing market risks, including Value at Risk (VaR), stress testing, and scenario analysis. Working within our Corporate & Investment Bank division, you will ensure that these models adhere to stringent regulatory requirements such as Basel III and the firm's internal governance standards, contributing to the overall stability and profitability of our operations in a highly competitive financial landscape. Your day-to-day responsibilities will involve conducting rigorous independent reviews of model methodologies, assumptions, and outputs, identifying potential weaknesses, and recommending improvements to enhance model robustness. You will collaborate closely with quantitative developers, front-office traders, and senior risk officers to address real-time challenges in volatile markets, leveraging advanced tools like Python and MATLAB. Additionally, you will support the development of comprehensive validation reports and participate in ongoing monitoring to detect model drift or performance issues, ensuring alignment with JP Morgan Chase's commitment to prudent risk management and client trust. This position offers an exciting opportunity to grow within one of the world's leading financial institutions, where innovation meets tradition. Ideal candidates bring a strong quantitative background and a passion for applying mathematical rigor to financial challenges. Join us in London to advance your career while helping shape the future of market risk practices at JP Morgan Chase.

Key Responsibilities

• Conduct independent validation of market risk models used across JP Morgan Chase's trading portfolios, ensuring compliance with internal policies and regulatory standards
• Perform quantitative assessments of model assumptions, limitations, and performance, including backtesting and sensitivity analysis
• Collaborate with model developers, traders, and risk managers to identify and mitigate model risks in real-time trading environments
• Develop and maintain documentation for model validations, including reports on findings, recommendations, and ongoing monitoring
• Support the implementation of stress testing scenarios for market risk, aligning with firm-wide risk appetite and regulatory requirements
• Analyze emerging risks from new financial products or market conditions, proposing enhancements to existing models
• Contribute to the firm's Model Risk Management framework by reviewing governance processes and participating in model approval committees
• Monitor model performance metrics and escalate issues related to model degradation or inaccuracies
• Assist in training junior team members on market risk validation techniques and best practices

Required Qualifications

• Bachelor's degree in quantitative finance, mathematics, statistics, physics, or a related field; advanced degree (Master's or PhD) preferred
• At least 2-3 years of experience in quantitative modeling, risk management, or model validation within the financial services industry
• Strong understanding of market risk models, including Value at Risk (VaR), Expected Shortfall (ES), and stress testing methodologies
• Proficiency in programming languages such as Python, R, or MATLAB for model development and analysis
• Knowledge of regulatory frameworks like Basel III, Dodd-Frank, and SR 11-7 for model risk management
• Experience with financial instruments such as derivatives, equities, fixed income, and commodities
• Ability to work in a fast-paced, collaborative environment in London

Preferred Qualifications

• CFA, FRM, or CQF certification
• Prior experience at a major investment bank or financial institution like JP Morgan Chase
• Familiarity with JP Morgan's internal risk management systems and tools
• Publications or research in quantitative finance or risk modeling
• Experience with machine learning applications in market risk assessment

Required Skills

• Quantitative analysis and statistical modeling
• Proficiency in Python, R, or MATLAB
• Knowledge of financial derivatives and market instruments
• Risk assessment and validation techniques
• Data analysis and visualization tools (e.g., SQL, Tableau)
• Regulatory compliance in banking (Basel, SR 11-7)
• Problem-solving and critical thinking
• Attention to detail and accuracy
• Communication and report writing
• Team collaboration and stakeholder management
• Time management in high-pressure environments
• Machine learning basics for risk modeling
• Excel and financial modeling software
• Adaptability to evolving market conditions
• Ethical judgment in risk decision-making

Benefits

• Competitive base salary and performance-based annual bonus
• Comprehensive health, dental, and vision insurance coverage
• Generous retirement savings plan with company matching contributions
• Paid time off including vacation, sick leave, and parental leave
• Professional development opportunities, including tuition reimbursement and access to internal training programs
• Employee stock purchase plan and financial wellness resources
• On-site fitness centers and wellness programs at JP Morgan Chase offices
• Flexible working arrangements, including hybrid options in London

JP Morgan Chase is an equal opportunity employer.