London, GB,

Risk,

Full-Time

For more information visit https://www.marex.com/

The Quantitative Analyst (Model Validation) will continuously be challenged around model risk management, model validation, pricing methodology and quantitative model development of various pricing and risk engines. The role includes validating and challenging model assumptions, data, calibration, implementation, governance, and performance through robust quantitative testing and clear documentation. Exposure spans multiple asset classes (commodities, FX, equities, crypto, interest rates, structured and exotic derivatives), and includes reviewing systematic strategies (e.g., statistical arbitrage) and AI/ML-driven approaches where they intersect with model risk and front-to-back controls.

Responsibilities:

Demonstrate familiarity with statistical arbitrage and systematic strategy mechanics (signals, feature construction, portfolio construction, transaction costs, overfitting risks, and regime sensitivity).
Where strategies or risk tools leverage AI/ML, contribute to validation of:
o feature and label integrity, leakage controls, stability and drift,
o cross-validation design, out-of-sample testing, robustness and stress behaviour,
o explainability, governance, reproducibility, and monitoring requirements.
Contribute to the Model Risk Management framework for structured financial products and exotic trades.
Contribute to independent model validation of Front Office Analytics libraries and models for equities, FX, credit and commodities.
Produced high-quality quantitative analysis and model validation documentation (LaTeX).
Enhancement of the risk management infrastructure through the transformation of data with coding.
Ongoing model development for valuation and risk measurement, carrying out reviews and calibration of model parameters to help ensure best practice is followed.
Develop and implement tactical & strategic risk tools to provide analysis and potential reporting capabilities to the overall team.
Build & maintain historical data sets across price and implied volatility surfaces to support pricing and risk models.
Quantitatively analyse new product structures and identify embedded risks using Monte Carlo simulation-based modelling and other methods.
Maintain and extend a Stress Portfolio Options Engine used for margining calculations.
Design and implement efficient and effective internal data controls to ensure appropriate risk management across all traded asset classes.

Skills & Experience:

Essential
Strong quantitative and analytical skills, including Stochastic Calculus, Stochastic Processes, Numerical Analysis, Derivative Pricing, Computational Finance and Quantitative Risk Management.
Excellent programming knowledge (Python required, MATLAB, C++, Java, C# Desirable).
Statistical arbitrage / systematic trading familiarity (factor models, mean-reversion signals, execution/TC modelling, drawdown/regime risk).
AI/ML exposure for trading/risk (e.g., tree-based models, regularisation, neural nets, time-series ML), including awareness of validation pitfalls (leakage, drift, reproducibility).
Experience in assessing, quantifying and implementing appropriate portfolio price and stress tests.
Some familiarity in volatility surface construction and calibration.
Professional in creating well-structured documents using scientific typesetting software i.e. LaTeX etc.
Ability to obtain data from multiple sources, link and analyse the information, perform data integrity checks.
Masters degree/PhD in Maths, Physics, Engineering, Quantitative Finance, Computer Science, Financial Economics, Econometrics or any related field (or equivalent qualification or experience).
Strong presentation technique and ability to adapt communication to Management (ability to summarise succinctly, while maintaining a deep understanding of the subject to respond to questions).
High quality assessment of a wide range of potential complex transactions, carrying out modelling and analysis as necessary, advising upon the value and risk-related quantitative issues associated with the proposals.

Desirable
Relevant exotic options work experience including knowledge of commodities.
Options trading, Econometric Forecasting, Data Mining.
Structured products and hybrid structures.
IT and software development-oriented mindset.

If youre forging a career in this area and are looking for your next step, get in touch!

Marex is fully committed to being an inclusive employer and providing an inclusive and accessible recruitment process for all. We will provide reasonable adjustments to remove any disadvantage to you being considered for this role. We value the differences that a diverse workforce brings to the company. We welcome applications from candidates returning to the workforce. Also, Marex is committed to avoiding circumstances in which the appearance or possibility of conflicts of interest may exist within the hiring process.

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