Assistant Vice President

3 weeks ago

London, Greater London, United Kingdom Mizuho International Full time
Assistant Vice President - Risk and Model Validation Mizuho International

About Us
Mizuho International is not your average financial institution. Our strength lies in our diverse workforce, where every individual is valued for their unique contributions. We foster a culture that emphasizes purpose, passion, and compassion. At Mizuho, we combine the stability of a global leader with the dynamic growth opportunities of a developing business. This unique blend provides our employees with rewarding responsibilities and enriching experiences that surpass those found in smaller firms or larger, established corporations.
Joining Mizuho means not only embarking on a fulfilling career with excellent prospects but also forming lasting connections with colleagues from various backgrounds. The local expertise of our team members enhances the strength of our global network.

Opportunity Overview
The Quantitative Risk team (QR) is an integral part of the EMEA Risk Management division. This team is divided into the Model Risk Management (MR) and Risk Analytics (RA) segments. The role of Quantitative Risk Analyst is situated within the Model Risk Management team (MR).
On both the MHBK and MHI fronts, the MR team is tasked with delivering independent and precise model validations while effectively managing model risk, which includes engaging with the trading desk and overall risk management teams.
The MR team also oversees the documentation of the MHI model life cycle within the Archer Model Risk Management system.

Key Responsibilities

  1. Assist the Head of Model Risk Management with MR-related initiatives.
  2. Conduct independent and thorough model validation analyses and documentation.
  3. Maintain and update the Archer model risk management system.
  4. Prepare materials for the MMMRC meetings.
  5. Collaborate closely with the RA team.
  6. Engage in projects that influence the valuation and risk assessments of MHBK and MHI Treasury, structured, and derivatives positions.
  7. Provide expertise in quantitative matters, particularly in valuation, risk assessments, and financial modeling for IR, FX, and Inflation derivatives across MHBK and MHI.
  8. Develop and support both new and existing in-house financial analytical models and libraries.
  9. Create Python and VBA scripts to streamline the model revalidation process.
  10. Work in conjunction with teams such as European Valuations and Risk Systems Engineering to ensure effective implementation of technical and quantitative solutions.
  11. Utilize quantitative and programming skills for ad-hoc support on issues and projects within the combined MHI and MHBK Risk functions.
  12. Critically assess the appropriateness of existing valuation models and assist in validating new models in emerging systems or products.
  13. Ensure the correct configuration of valuation and risk data, models, and systems for accurate and reliable outcomes.
  14. Collaborate with external departments (e.g., Front Office, IT, EMEA Risk Management teams) on joint initiatives.
  15. Produce theoretical and technical documentation related to models and systems.
  16. Provide cross-training to other members of the QR teams.
  17. Deliver periodic monitoring and review reports on models.

Qualifications for Success

  • Strong academic foundation: a minimum of a Master's degree in a quantitative discipline, ideally in Maths, Physics, Engineering, or Finance. Relevant professional qualifications or experience will also be considered.
  • Proven experience in Model Validation and Model life-cycle management.
  • Familiarity with financial markets, products, methodologies, and financial analytics, including key concepts of IR, FX, and Inflation curve construction, derivative pricing & risk, and XVA.
  • Knowledge of option pricing techniques, including normal and log-normal models, path-dependent models, and SABR.
  • Understanding of FRTB, IRRBB, and Risk Models such as Value-at-Risk (VaR) and Stress methodologies.
  • Strong mathematical skills, including stochastic calculus, statistics, matrix algebra, optimization methods, and interpolation techniques.
  • Proficiency in object-oriented programming, preferably in Python and/or C#, with consideration for skills in other languages such as C++ or Java.
  • Advanced Excel skills, including VBA proficiency.
  • Experience with Microsoft SQL Server and TSQL, or other database management systems.

Desirable Skills

  • Experience with source code control systems like Team Foundation Server or GitHub.
  • Knowledge or experience in Inflation Derivatives valuation and risk.

What We Offer
At Mizuho, we provide excellent opportunities for career advancement and clear paths for promotion. We encourage our employees to drive change and contribute to the growth of our business.
In addition to the opportunities outlined above, we currently offer:

  • Competitive starting salary with discretionary bonuses.
  • Non-contributory pension plan.
  • 27 days of annual leave.
  • Core working hours.
  • Hybrid working model - a combination of office and remote work.
  • Access to virtual GP services.
  • Wellbeing benefits, including Mental Health Allies and First Aiders.

Flexible Work Environment
We champion a flexible work environment, recognizing the importance of balancing personal commitments and work-life harmony. We are open to discussing flexible working arrangements for this role, including reduced hours and homeworking options.

Commitment to Inclusion
At Mizuho, we are dedicated to fostering inclusion, equity, and diversity. We strive to create a workplace that is fully inclusive and welcome applications from all segments of the community, regardless of ethnic background, sexual orientation, beliefs, gender identities, or disabilities.

If you require more information about our equal opportunities policy or wish to discuss any accessibility requirements or reasonable adjustments, please reach out to our recruitment team. We are here to assist you.

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