Are you ready to make a significant impact in the world of model risk management? At the Model Risk Governance and Review Group (MRGR), we are at the forefront of assessing and mitigating model risk across the globe. With a presence in major financial hubs such as New York, London, Mumbai, Hong Kong, and Paris, our team collaborates with top professionals in Risk, Finance, and Model Development. This is your chance to work in a dynamic environment, gain exposure to various business areas, and contribute to critical decision-making processes.

As a Model Risk Analyst/Associate in the Model Risk Governance and Review team, you will play a crucial role in reviewing derivative models and enhancing model risk governance. You will collaborate with model developers, trading desks, and risk professionals to ensure the soundness and suitability of complex pricing models. Together, we will drive innovation and maintain robust model risk controls.

Job responsibilities

• Assess the conceptual soundness of complex pricing and electronic market making models.

• Develop and implement alternative model benchmarks and performance tests.

• Liaise with model developers, trading desks, and risk professionals to provide guidance on model risk and usage.

• Maintain model risk control apparatus and serve as the first point of contact for the coverage area.

Required qualifications, capabilities, and skills

• Education: Bachelor’s, Master’s or PhD in a quantitative field (e.g., Mathematics, Statistics, Computer Science, Engineering, Physics).

• Bachelor’s degree with 3–5 years, Master’s degree with 2–4 years, or PhD with 0–2 years of experience in quantitative models for derivatives and/or electronic market making.

• Excellence in probability theory, stochastic processes, statistics, and numerical analysis.

• Strong understanding of option pricing theory and quantitative models for derivatives.

• Experience with Monte Carlo simulation and numerical methods, familiarity with calibration techniques and performance benchmarking.

• Strong analytical problem-solving skills and clear written/verbal communication, ability to articulate technical issues to diverse stakeholders.

• Proficiency in Python, SQL and C/C++ programming.

• Curious, ownership-driven, and teamwork-oriented mindset.

Preferred qualifications, capabilities and skills

• Prior model validation or front‑office quant experience in pricing, risk, or electronic market making models.