Job Summary

Traded Risk Model Validation is a group that performs in depth technical model validations of models covering pricing, market and counterparty credit risk of derivatives spanning all asset classes.  This opportunity is for a validator to perform independent model validations of valuation models used for the books and records of the Group, for official risk reporting and uses in regulatory stress testing. This role will primarily focus on the validation of FX derivative valuation models, assessing the associated model risk, building benchmark models, and conducting testing and developing standardised model testing frameworks.

Key Responsibilities

Model Validation & Quantitative Analysis

• Perform independent validation of valuation models across FX derivatives, including both internal and vendor models.
• Assess model assumptions, methodologies, and limitations to ensure models are robust and fit for their intended use.
• Develop and implement benchmark or challenger models to assess model performance and quantify model risk.
• Conduct detailed quantitative testing, including sensitivity analysis, stress testing, and back-testing where appropriate.
• Contribute to the development and enhancement of standardised model validation frameworks and testing methodologies.

Stakeholder Engagement & Collaboration

• Partner with Front Office traders, quantitative analysts, model developers, and Risk Management teams throughout the model lifecycle.
• Provide clear, independent challenge and technical feedback on model design, implementation, and usage.
• Collaborate with global validation teams across multiple regions (e.g. UK, Europe, Asia, and the US) to ensure consistency and best practice.

Risk Management & Governance

• Identify, assess, and communicate model risks, limitations, and uncertainties to key stakeholders.
• Escalate model issues where risks are not adequately mitigated and review remediation plans.
• Ensure all validation activities comply with the Group Model Risk Policy and relevant regulatory requirements.
• Maintain accurate documentation of validation work, findings, and decisions within model inventory systems (e.g. model lifecycle management tools).
• Participate in governance forums and committees overseeing model risk and validation outcomes.

Skills and Experience

• Strong quantitative background with expertise in financial derivatives and valuation modelling.
• In-depth knowledge of FX derivatives and associated pricing models.
• Solid understanding of stochastic calculus, numerical methods, and mathematical finance.
• Experience in model validation, model development, or quantitative analysis within a financial institution is highly desirable.
• Strong programming skills (e.g. C++, Python, or similar) with the ability to implement and test models.
• Analytical mindset with the ability to assess complex models and identify risks and limitations.
• Excellent written and verbal communication skills, with the ability to present technical concepts clearly to non-technical stakeholders.
• Strong collaboration skills and ability to work effectively across global, matrixed teams.
• High attention to detail and a disciplined, methodical approach to problem-solving.

Qualifications

• Advanced degree (Master’s or PhD) in a quantitative discipline such as Mathematics, Physics, Quantitative Finance, Engineering, or Computer Science.
• Demonstrated ability to apply advanced mathematical techniques (including stochastic calculus) to financial modelling problems.
• Prior experience in model validation, quantitative modelling, or risk modelling is preferred; high-calibre PhD graduates with relevant knowledge will also be considered.
• Practical coding experience (ideally C++, Python, or similar).
• Fluency in English (written and spoken).

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

What we offer

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.