Senior Quantitative Model Risk Associate

Senior Quantitative Model Risk Associate

Business Area: Financial Risk

Place of Work: London

Contract Type: Fixed Term Contract

When you join USS, the size and scale of our pension scheme means you will have numerous opportunities to learn and develop your career. Given our size you'll have real autonomy and influence as you collaborate closely with a wide-ranging team of experts.

About the role

In your role as Senior Quantitative Model Risk Associate, you will make a meaningful and valued contribution from the outset. This role will provide a great opportunity to support the Investment Model Risk Manager, Head of USSIM Financial Risk, Group CRO and Head of USSIM Enterprise & Operational Risk in ensuring all models within USSIM are regularly reviewed, at the least to the level required by the USS Model Risk Framework.

The role will be focused on expanding the model validation work established in the Financial Risk team to the Funding Strategy, Investment and Finance functions, involving significant cooperative engagement with model owners across these areas and ultimately helping the Investment Model Risk Manager implement a model risk culture in USSIM based on clear standards of model documentation, validation, and quality assurance (QA) processes.

The role specifically covers:

a) Validation of models in the Financial Risk, Funding Strategy, Investment and Finance functions, ensuring compliance with the Model Risk Framework and aiming to increase model coverage in line with priorities identified alongside key stakeholders.

b) Working with model owners across all functions to promote a model risk culture within USSIM, including the ongoing maintenance of detailed process documentation, timely validation of new models/model changes and strong QA practices.

c) Working with Risk Champions to ensure model risk events are understood and linked to model validation conclusions.

d) Support the Model Risk and Control team with end-to-end assessments of processes around models and work with model owners to improve controls where applicable.

What you will be doing

As a trusted part of the Financial Risk team you will:

1. Scope and execute the initial validation of models in the Funding Strategy, Investments and Finance functions, including developing the necessary quantitative tools if required.

2. Update validations on an annual basis for higher risk models and ensure methodology changes are validated timely and ahead of implementation.

3. Improve the quantitative capabilities of the Model Risk and Control team by developing analytics that can be leveraged for multiple models.

4. Help promote a model risk culture in USSIM by regularly interacting with model owners and providing ad hoc model risk support as required.

5. Ensure risk events are followed by appropriate remediation actions.

About you

We know that sometimes people can be put off applying for a job if they don't tick every box, if you're excited about working for us and have most of the skills or experience we're looking for, then please apply, regardless of whether you meet all the requirements outlined in this profile.

To be successful in the role you will have:

• Excellent programming (Python, SQL, Excel, AI)
• Experience developing or validating risk or investment models
• Solid understanding of financial markets and instruments gained through courses or experience
• Ability to break down complex concepts into simple components
• Strong verbal and written communication skills
• Proficient at prioritisation, project organisation, and management of multiple workstreams
• Intellectual curiosity – willingness and ability to investigate and develop new ideas

Why join us?

At USS, every individual contributes to building a secure financial future for our members and their families. We strive to create a work environment where everyone can thrive professionally while making a meaningful impact on the lives of others. We're also committed to helping you build your career by providing opportunities for development. We put a focus on recognising and supporting each individual's unique career path, driving this forward with the support of an engaged and proactive management team. Here at USS, we want you to thrive in and out of work with a friendly team, flexible culture and excellent range of benefits

How we will reward you

• Great starting salary
• Generous annual leave package
• Access to a high quality pension scheme provided through Universities Superannuation Scheme
• Supportive people policies (including enhanced occupational sickness pay and family friendly pay)
• Financial contributions towards your personal development to help you maintain your physical and mental wellbeing
• Access to a range of health and wellbeing services i.e., private healthcare, discounted gym membership
• Learning and development opportunities to develop your skills, knowledge and talent
• Employee Volunteer Day's to support the communities where you work and live
• Cycle to Work Scheme

Our culture and values

Our people are what makes us different. We work together to create a diverse and inclusive culture that embraces individuality, where people are welcomed and feel comfortable in the knowledge that they can be themselves. Our purpose firmly states the importance of members, putting them 'front and centre' of what we do. This is embedded through our values:

• Integrity
• Collaboration
• Excellence

About us

Universities Superannuation Scheme (USS) was established in 1974 as the principal pension scheme for universities and other higher education institutions in the UK. We work with around 330 employers to help build a secure financial future for almost 577,000 members and their families. We are one of the largest private defined benefit pension schemes in the UK, with total assets of around £76.8bn (at 31 March To find out more, please visit

USSIM is proud to be an equal opportunity employer. We strive to ensure our recruitment process is as flexible and inclusive as possible so we can attract diverse candidates and recruit the best talent. We want all candidates to perform at their best during the recruitment process, so if you need any reasonable adjustments or if there is anything we can do to help support you through your recruitment journey please let us know by contacting