Senior Manager, Risk Management

Intercontinental Exchange; Greater London; On-site; GBP 70,000 - GBP 90,000; Full time

Job summary

A global financial services company in the UK is seeking a Quantitative Risk Manager to join its Model Risk Management team. The role involves validating and monitoring risk models used in the clearing house, ensuring compliance with regulatory standards. Key responsibilities include conducting independent validation of models, documenting findings, and mentoring junior team members. The ideal candidate will have an advanced degree in a relevant field and strong experiences in model validation and quantitative analysis. This role offers an opportunity to work in a collaborative environment at the center of financial markets.

Qualifications

• Strong experience in model validation or quantitative analysis.
• Knowledge of market, credit, and liquidity risk frameworks is essential.
• Familiarity with option pricing theory and statistical risk modelling techniques.

Responsibilities

• Conduct independent validation of risk models and stress testing frameworks.
• Document validation findings and communicate risks.
• Continuously monitor model performance and identify improvements.
• Guide and mentor junior team members.

Skills

Model validation

Quantitative analysis

Risk analytics

Python programming

SQL proficiency

Communication skills

Education

Advanced degree (MSc/PhD) in Mathematics, Statistics, Quantitative Finance

Job description

Job Description

Job Purpose

With approximately 5 million contracts cleared every day across multiple asset classes, ICE Clear Europe (ICEU) is one of the world’s most diverse and leading clearing houses. As a clearing house, ICEU performs a critical role in ensuring market stability especially through periods of volatility and increased uncertainty. It provides central counterparty clearing and risk management services for global energy, interest rate, equity index, and agricultural derivatives.

We leverage advanced quantitative models to effectively manage market risk for exchange‑traded derivatives, credit risk of clearing members and counterparties, and liquidity risk associated with posted collateral. Our risk framework ensures resilience in dynamic market conditions while upholding the highest regulatory and operational standards.

The Model Risk Management team, part of the Risk Oversight Department, is responsible for all aspects of model risk, encompassing model governance & control, model validation, and model performance monitoring across a wide range of applications.

ICE Clear Europe is seeking a Quantitative Risk Manager to join its Model Risk Management team. This role is responsible for validating and monitoring risk models used in the clearing house, ensuring their accuracy, robustness, and compliance with regulatory standards. The position involves end‑to‑end model risk assessment across initial margin, add‑ons, and stress testing frameworks, with a focus on market, credit, and liquidity risk.

This is an exciting opportunity for a technical expert looking for broader model and management exposure in a collaborative and flat organizational structure at the centre of financial markets.

Responsibilities

• Conduct independent validation of risk and pricing models and review of stress testing frameworks, including conceptual soundness, assumption reasonableness, and performance benchmarking.
• Document validation findings, communicate risks, and recommend improvements.
• Continuously monitor model performance, review first‑line risk management monitoring approaches, and identify and drive model changes or risk mitigating actions.
• Provide guidance on model usage and act as a key stakeholder liaison for new models and changes.
• Stay updated on evolving market practices, regulatory requirements, and quantitative methodologies.
• Guide and mentor junior team members in executing validation tasks and developing technical capabilities.

Knowledge and Experience

• Advanced degree (MSc/PhD) in Mathematics, Statistics, Quantitative Finance, or related field.
• Strong experience in model validation, quantitative analysis, or risk analytics.
• Strong knowledge of market, credit, and liquidity risk frameworks.
• Proficiency in Python (NumPy, Pandas, etc.) and SQL for data analysis.
• Strong understanding of option pricing theory and statistical risk modelling techniques (VaR, Backtesting, Stress Testing).
• Excellent verbal and written communication skills.

Desirable Knowledge and Experience

• Industry certifications (PRM, FRM, CFA).
• Experience in a clearing house, trading firm, bank or similar financial institution.
• Knowledge of SR 11‑7 model risk guidelines and exchange‑traded derivatives.