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Employment Type: Full-time

Quantitative Developer

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IN_Manager_ Market Risk Quant_ FST-CT,C&M_Advisory_Mumbai

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Senior Manager Traded Risk Model Validation

Organization Unit Purpose

Group Model Validation (GMV) plays the role of central model risk management within Group Risk. It is an independent team that sets out overarching model risk management policy at Group level and performs the roles of model governance and model validation for different types of models. The unit has the mandate from the Board Risk Committee (BRC) for model risk management across the Group. And the operations and deliverables are regulated by the central bank of the UAE (CBUAE) and audited by ENBD Group’s financial auditors.

The Unit is part of Group Capital and Portfolio Analytics (GCPA) in Group Risk. GCPA leads the Group in providing technical and thought leadership in the areas of risk analytics, the Internal Capital Adequacy Assessment Process (ICAAP) and model management for the Group in line with international practices. GCPA provides a strong support function within the Group and raises the profile of the Group capabilities with external stakeholders such as Central Banks, rating agencies and peer or working groups globally. The Unit is an area of center for excellence in advanced analytics and the leadership in application of Straight Through Processing (STP) methodologies.

Job Purpose

The senior manager role is created in GMV to strengthen its capacity to manage the model risk embedded in traded risk models. The candidate of the role is required to perform end-to-end model validation on market risk and counterparty credit risk (MR&CCR) models and support the relevant operations in model governance process. The main duties of the role are:

Perform vendor or in-house built model validation

  • Based on model validation standards to conduct independent validation by assessing integrity of data, soundness of methodology and level of model performance and accuracy of computation
  • Setup project working group and communicate with relevant stakeholders, discuss validation issues and explore remediation plan
  • Create model validation report, and work with team heads to conclude final validation outcome whether the model is fit for purpose

Oversee and manage external model validation project

  • Support the team head during the RFP process to provide business requirements and select vendor
  • Closely collaborate with the vendor to onboard external validators
  • Supervise validators to perform model validation in line with ENBD policies and process
  • Setup working group meetings to discuss validation issues and remediation plans
  • Support the external validator to finalize validation report and discuss with team head to conclude validation outcome

Closely work with team head to

  • Develop and maintain technical standards for model validation
  • Prepare materials to be submitted to model oversight committee or other internal / external forum

Closely work with model governance unit to

  • Maintain and regularly update model inventory
  • Track model validation issue in MRM system and evaluate the appropriateness of the resolution submitted by model owner / developer

The job holder is required to be technically strong in terms of model development / validation techniques and be familiar with regulations associated with models. The scope of the validation covers wider ranges of products and associated risk measurement as well as system implementation.

  • Financial market product valuation
  • Market data integrity
  • Market risk measurement – Sensitivities, VaR (LVaR, SVaR etc.), Stress and Back Testing
  • Counterparty credit risk – PFE, EPE, CVA, DVA, FVA etc.
  • International and local regulatory capital framework
  • System implementation

It is also expected the job holder is familiar with market risk / Finance system (Bloomberg / Calypso /Murex) in order to extract data and perform detailed independent validation. The job holder is expected to work very closely with key stakeholders such as front office, market risk and counterparty risk department, Group IT and external vendor (when applicable) to ensure that the requirements stipulated in regulations and internal policies are properly satisfied.

Job Content

Model Validation

  • Independently lead and / or perform detailed end-to-end model validation
  • Collaborate with model owner / developer and other stakeholders to drive validation process
  • Raise model validation issues and articulate it in working group or committees
  • Agree resolution plans with model owner / developer and track its status
  • Create model validation report and review / sign off the report delivered by vendor
  • Support the submission of validation report to model oversight committee

Model Validation Standards for MR&CCR Models

  • Develop validation methodology and technical standards and maintain it in the Group Model Validation Standards

 

Model Governance

  • Ensure the integrity of model inventory in the MRM system
  • Track validation issue in the MRM system and evaluate the resolution plan

Education

  • Msc or PhD in quantitative finance, mathematics, statistics, physics or engineering from recognized university
  • Certificate of Quantitative Finance

Experiences

  • Model development / validation / implementation models in banks from advanced jurisdictions (>10)
  • Market and / or counterparty credit risk modelling experience (>8)
  • Strong experience of working in trading floor environment and having dealt with trading, sales, structuring and treasury function (>5)
  • Worked in a regulator capacity in a mature model jurisdiction

Knowledge

  • Financial market product valuation
  • Market data integrity
  • Market risk measurement – Sensitivities, VaR (LVaR, SVaR etc.), Stress and Back Testing
  • Counterparty credit risk – PFE, EPE, CVA, DVA, FVA etc.
  • International and local regulatory capital framework
  • System implementation in Calypso or Murex
  • Bloomberg

Skills

  • Excellent math/stats skills in calculus, stochastic calculus, linear algebra, numerical methods, and probability theory
  • Strong programming skills in Python or VBA
  • Basic project management
  • Basic stakeholder management

Behavioral Competencies

  • High integrity and moral standards
  • Team work
  • Consistency and reliability

Valuation Risk Senior Analyst

About The Role

  • Work with a multi-location team on valuation risk assessment covering various asset classes including fixed income, equity, insurance-linked derivatives, etc.
  • Perform Independent Price Verification on various asset classes. Identify and analyse how changes in the market, inputs or methodologies can lead to uncertainties in valuations.
  • Valuation risk assessment require good understanding of valuation drivers and methods.
  • Work with large data sets using MS Excel.
  • Produce valuation risk analysis reports on monthly basis to communicate the results to senior management.

About The Team

The Financial Model and Valuation Risk Management (FM&VRM) team primarily assess model risks and valuation risks. VRM squad is responsible for assessing the risks in valuations. It is responsible for performing Independent Price Verification (IPV) control, which formally assesses the quality of valuations and acts to correct any issues. The IPV process is a critical control function to ensure that fair valuations on financial market instruments reasonably reflect current markets as of a given date, providing confidence in the absence of material misstatements that could impact the financial balance sheet or decision-making processes. Valuation feed into our accounts, are at the core of P/L, determine the calibration of models, and form a key part of risk assessment. Inaccurate valuations distort the decision-making process, and so performing controls to ensure appropriate valuations are reported are an essential part of the firm’s operations.

About You

  • 4+ years of experience in valuations/product control/quant finance/market risk. The ideal candidate would have experience with the independent price verification (IPV) or valuation control functions to determine whether assets are valued correctly and determine whether valuation adjustments are required for external financial reporting.
  • Practical understanding of valuation models like discounted cashflow, no-arbitrage prices, Black-Scholes, etc.
  • Strong academic background, preferably an undergraduate or master’s degree in a quantitative discipline.
  • CQF/CFA/FRM will be a plus.
  • Exposure to financial technologies like Bloomberg, Refinitive will be an advantage.
  • Strong communication skills are required as reporting and presenting analysis is a core part of the job.
  • Good organisational skills, ability to meet tight deadlines.
  • Possess proactive attitude and willingness to apply general technical knowledge to new situations.
  • Exposure to any programming environment is a plus.

As Technical / Functional Expert in Market Risk IT consultant

As Technical / Functional Expert in Market Risk IT consultant he/she

  • enables the Market Risk IT team to provide support for the users and PolyPaths application.
  • analyzes, designs, develops, deploys, and maintains software application for Market Risk users (PolyPaths).
  • Develop and integrate Java/python components within fixed income technology stack that consists of in-house built components (integrations),
  • coordinate and be part of the vendor software monthly patching, upgrades, daily BAU level 2 support in PolyPaths.

Requirements

  • 3-5 years of development experience with Numerix PolyPaths and Fixed Income Product related experience
  • Understanding of the PolyPaths front end, batch process, OAS module, Jobs configuration, re run, etc
  • Strong understanding of Fixed Income Products, Structured Products – Pricing, Valuation and Sensitivities
  • Strong understanding of Market Risk measures like VaR, Expected Shortfall, XVA etc
  • Hands on experience in Python, Java
  • Strong work experience in Risk applications like Murex, Calypso, SS&C etc will be desirable
  • Certification like FRM/PRM/CFA/CQF is desirable

Technical Service Engineer

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Snr Manager, Quant Development

Lead the design and development of advanced quantitative and AI-driven models for market abuse detection across multiple asset classes and trading venues. Drive the solutioning and delivery of large-scale surveillance systems in a global investment banking environment, leveraging Python, PySpark, big data technologies, and MS Copilot for model development, automation, and code quality. Play a pivotal role in communicating complex technical concepts through compelling storytelling, ensuring alignment, and understanding across business, compliance, and technology teams.

Key Responsibilities

  • Architect and implement scalable AI/ML models (using MS Copilot, Python, PySpark, and other tools) for detecting market abuse patterns (e.g., spoofing, layering, insider trading)

across equities, fixed income, FX, and derivatives.

  • Collaborate closely with consultants, MAR monitoring teams, and technology stakeholders to gather requirements, share insights, and co-create innovative solutions.
  • Translate regulatory and business requirements into actionable technical designs, using storytelling to bridge gaps between technical and non-technical audiences.
  • Develop cross-venue monitoring solutions to aggregate, normalize, and analyse trading data from multiple exchanges and platforms using big data frameworks.
  • Design and optimize real-time and batch processing pipelines for large-scale market data ingestion and analysis.
  • Build statistical and machine learning models for anomaly detection, behavioural analytics, and alert generation.
  • Ensure solutions are compliant with global Market Abuse Regulations (MAR, MAD, MiFID II, Dodd-Frank, etc.).
  • Lead code reviews, mentor junior quants/developers, and establish best practices for model validation and software engineering, with a focus on AI-assisted development.
  • Integrate surveillance models with existing compliance platforms and workflow tools.
  • Conduct backtesting, scenario analysis, and performance benchmarking of surveillance models.
  • Document model logic, assumptions, and validation results for regulatory audits and internal governance.

Skills And Experience

Technical Skills:

  • Advanced AI/ML modelling (Python, PySpark, MS Copilot, kdb+/q, C++, Java)
  • Must be well versed with SQL and have hands on experience writing SQL (preferably Spark SQL) that is productionized (not ad-hoc queries) for at least 2-4 years
  • Familiarity with Cross-Product and Cross-Venue Surveillance Techniques particularly with vendors such as Trading Hub, Steeleye, Nasdaq or NICE
  • Statistical analysis and anomaly detection
  • Large-scale data engineering and ETL pipeline development (Spark, Hadoop, or similar)
  • Market microstructure and trading strategy expertise
  • Experience with enterprise-grade surveillance systems in banking.
  • Integration of cross-product and cross-venue data sources
  • Regulatory compliance (MAR, MAD, MiFID II, Dodd-Frank)
  • Code quality, version control, and best practices.

Soft Skills

  • Strong storytelling and communication for technical and non-technical audiences
  • Collaboration with consultants, MAR monitoring teams, and technology stakeholders
  • Stakeholder management and requirements gathering
  • Leadership, mentoring, and team guidance
  • Problem-solving and critical thinking
  • Adaptability and continuous learning

Qualification

  • Bachelor’s or Master’s degree in a quantitative discipline such as Mathematics, Statistics, Computer Science, Engineering, Physics, or Economics from a recognized Indian university
  • Additional certifications in Data Science, Machine Learning, or Financial Engineering (e.g., CFA, FRM, CQF) are must

Financial Risk Analyst

About The Role

As an Assistant Vice President in our Financial Risk Aggregation and Analytics (FRAA) team, you’llbe at the intersection of financial markets, data analytics, and risk management. You’ll leverageyour technical and analytical skills to provide critical insights that shape our risk strategy andreporting processes.

Key Responsibilities

  • Monitor and analyze Market and Credit risk portfolio exposures for Swiss Re group,performing change & impact analysis and presenting key business drivers to management
  • Develop innovative tools to improve data consistency and identify irregularities in the riskaggregation and reporting process
  • Conduct advanced analytics n large-scale data, interpreting results and presentingsimplified insights to management
  • Identify and lead projects to enhance measurement and attribution of Risk Metrics likeStress, VaR, SPLC, and Shortfall
  • Ensure quality delivery of day-to-day reporting with appropriate analysis, timeliness, andconsistency across reporting dimensions
  • Address stakeholder requests efficiently while maintaining service excellence
  • Drive continuous improvement of risk reports and reporting processes through fast-developed IT solutions
  • Communicate effectively with Credit Underwriting, Asset Management, Treasury and otherbusiness units, articulating actionable feedback on events, exposures and issues impactingSwiss Re’s risk profile

About The Team

The Financial Risk Aggregation and Analytics (FRAA) team within Solvency and Financial RiskManagement (SFRM) is responsible for collecting and aggregating Swiss Re’s firm-wide financialmarket and credit risks. We produce various analytics and periodic reports for internal andexternal stakeholders with a strong focus on analysis, timeliness, and quality. Our team worksclosely with Market Risk Managers, Credit Risk Managers, Credit Underwriters, Asset Managers, and Treasury to align reporting needs in a fast-changing environment. We emphasize strong ITcapabilities for efficient implementation of reporting processes.

About You

You’re a detail-oriented analytical thinker with excellent communication skills and a passion forfinancial risk management. You thrive in a collaborative environment where you can apply yourtechnical expertise to solve complex problems. Your ability to translate complex data intoactionable insights makes you an invaluable partner to stakeholders across the organization.

We Are Looking For Candidates Who Meet These Requirements

  • Good academic track record in Engineering, Data Science, Finance or Mathematics(Bachelors/Masters) or a professional designation such as CFA, CQF or FRM
  • 7-8 years of experience in the financial services or insurance sector with a goodunderstanding of financial products (fixed income, equities and derivatives) and counterparty credit risk
  • Solid IT & analytical skills with exposure to at least one scripting language (e.g. Python, R),data modeling, and SQL
  • Good communication skills with an ability to articulate technical topics in simple terms
  • Strong organizational skills with ability to handle multiple priorities and meet deadlines

Deal Structurer – Power

This role is an exciting and challenging position with excellent development opportunities across T&S and the wider Shell group. We require a creative individual with excellent analytical and interpersonal skills, working under tight deadlines and pressures requiring dynamic expectation management of stakeholders. The candidate will be needed to continue delivering to an excellent standard, with clear focus on the bottom line and priorities in hand. The successful candidate will show the will and the ability to contribute to this objective and to constantly improve personal and team performance.

The main responsibility of the role is to collaborate with the power business and support the growth of the power portfolio in Europe, while being accountable for the methodology of the valuation and risk assessment of complex transactions.

The role specifically involves the following:

  • Commercial structuring as well as Financial & Quantitative modelling of complex power transactions
  • Represent the Deal Structuring team and build strong relationships working with the local stakeholders in the power business and internal functional departments (Risk, Finance, Credit)
  • Collaborate with power originators and traders to create innovative structured products in response to demand and changing market conditions
  • Provide specialized knowledge on structure, valuation and risk assessment for opportunities in the European power market
  • Provide an independent view on structured transactions, with constructive challenge of the deal owner as required and suggest alternative solutions or improvements
  • Develop and own valuation methods and models in python and excel, for pricing and risk assessment of complex structured contracts.
  • As part of the deal team proactively engage with commercial project leaders to (re-)structure non-standard transactions during negotiation phase, be creative to suggest alternative solutions and adaption of contract structures
  • Collaborate with deal owners to manage and extract value from acquired structured positions
  • Maintain an outward mindset and ongoing commitment of Deal Structuring to the One-team approach undefined

What You Bring

We are keen to hear from individuals who are quick learners with demonstrable experience of leading individually as well as small teams towards finding solutions to complex business problems, with proven exposure to the Italian market and the ability to grow within a dynamic environment of power trading.

With deal structuring & quantitative analysis at the heart of this role, the candidates would ideally need prior relevant experience in structuring/quantitative analytics and/or qualification in numerical subject (MSc, CFA, CQF, ACA or similar), with proven track record of working in Power/Gas/LNG markets (Preferably one or more European power markets).

Beyond the key requirements mentioned above, strong knowledge or experience in the areas listed below is needed to succeed and thrive in this role:

Required

  • Programming in python and Excel VBA
  • Developing and maintaining high quality excel financial models for business end use
  • Theory and Practice of quantitative finance, models and application to gas and power derivatives
  • Experience of structured asset and deal valuations, including risk management strategies.
  • Fluency in the English language, with Italian/German speaker advantageous

Advantageous

  • Knowledge of corporate finance and accounting principles
  • Commercial acumen and strong grasp of principles of long-term commodity investments & risk drivers
  • Coaching/mentoring junior team members
  • A Certificate in Quantitative Finance (CQF) is considered preferable

Associate Director – Structured Rates Valuations, Product Control Valuations (London)

You will be responsible for leading Global Structured Rates IPV (Independent Price Verification) Team.

You will be working with the Desk, Quants, Market Risk, Valuations Methodology and Senior Management to facilitate expanding business by maintaining strong second line control and governance within the CFO Group.

You will be heavily involved in maintaining IPV Valuations Models and driving automation within your area.

This position is full time and will require 4 days in the office.

What will you do?

  • Lead the control function to perform IPV (Independent Price Verification) and other Valuation Adjustments across a wide range of mainly derivative positions for the Global Structured Rates businesses within RBC Capital Markets.
  • Play a key role in the production and implementation of methodology for Valuation Adjustments relating to the Structured Rates business.
  • Play a key role in the provision of detailed reports and analysis on IPV/VA results to senior managers, business heads, Valuations and Risk committees, and Heads of Valuations, Market Risk and Finance.
  • Manage a team of 2/3 strong inviduals
  • Ensure that existing VA/IPV processes continue to be aligned and keep pace with the business, and Regulator and Accounting Best Practice.
  • Ensure that all VA/IPV processes are complete and follow RBCs risk policies and procedures. Identify and escalate appropriate improvements.
  • This role is also required to provide significant subject matter expertise on various valuations related projects and initiatives, as required, including ad hoc management and/or regulatory reviews and new business initiatives
  • Review IPV and Reserve calculations and reports produced by the team.
  • Maintain effective working relations with the regional Heads of businesses.
  • Ensure process documentation is up to date and adhered to.
  • Ensure other related valuations responsibilities relevant to IR structured products are carried out. For example, Levelling, Prudential Valuations (AVA) calculations, input into MIS reporting, and large Day 1 P&L investigations.
  • Lead on on-going enhancements and development of the control environment; applying an awareness of accounting and regulatory constraints.
  • Provide pro-active input into valuation related projects, regulatory reviews and new business initiatives.
  • Ensuring the team follows EUC (End User Computing, e.g., Cluster Seven) practices.

What do you need to succeed?

Must-have

  • Strong Technical understanding of derivatives and their valuation, including vanilla and exotic interest rate derivatives. Relevant experience in a Product Control role focusing on Structured Products is an advantage. Management experience, or well established in a senior role within a team.
  • Experience of IPV and reserve calculations A good understanding of the following financial products and their valuations: vanilla derivative products (including futures, interest rate swaps, FRAs, basis swaps, cross currency swaps and structured products).
  • A developed understanding of P&L calculations for businesses that trade these products; A developed understanding of the purpose of control processes such as IPV and Valuation Adjustments (reserves).
  • Experience of creating or overseeing professional reports, including written commentary, to fixed deadlines and for business or senior management consumption.
  • Ability to communicate and liaise confidently and effectively with junior and senior members of all areas including the business (Front Office), and external vendors, using written and oral methods.
  • Ability to work to tight deadlines in a pressured environment.
  • Ability to work well in a small team and in conjunction with other staff members of all levels from various functional areas.
  • Ability to communicate and liaise confidently and effectively with junior and senior members of all areas including Front Office, using written and oral methods.
  • Ability to manage a small team and in conjunction with other staff members of all levels from various functional areas.
  • Strong background in mathematics and/or IT.
  • Solid understanding of pricing methodologies.
  • Ability to produce clear, concise, and well written documents.
  • Practical IT experience (e.g., Excel and/or VBA, Python).
  • Familiarity with market data platforms and analytical tools including Bloomberg, Reuters, and Markit/Totem.
  • Educated to degree level or similar/equivalent in a numerical subject. ACA/CFA/CQF will be an advantage.