DWS - Risk Manager (m/f/d) Model Validation Specialist

About DWS

At DWS, we’re capturing the opportunities of tomorrow. You can be part of a leading, client-committed, global Asset Manager, making an impact on individuals, communities, and the world.

Join us on our journey, and you can shape our transformation by working side by side with industry thought-leaders and gaining new and diverse perspectives. You can share ideas and be yourself, whilst driving innovative and sustainable solutions that influence markets and behaviours for the better.

Every day brings the opportunity to discover a new now, and here at DWS, you’ll be supported as you overcome challenges and reach your ambitions. This is your chance to lead an extraordinary career and invest in your future.

Read more about DWS and who we are

Team / division overview

The Risk platform is the independent risk oversight function of DWS. Model Risk is part of the Risk function and is designed to provide governance and control to manage a variety of models used in the Firm and associated risks. The Model Risk team works as a global organization with team members in New York, London and Frankfurt with a focus around validating, testing and overseeing the usage of models related to Corporate Risk (liquidity/economic capital) and Investment Risk for Liquid and Illiquid investment strategies.

Role Details

As a Risk Manager, you will be:

• Conducting model validations on the DWS models, both in-house and vendor models, based on regulatory guidance, internal policy and procedures and best industry practice and communicate findings and recommendations to model owners and prepare the model validation reports
• Working closely with Investment teams on topics including model assumptions and limitations to ensure models remain fit for purpose
• Carry out independent model reviews on complex topics in accordance with business needs and regulatory requirements
• Review ongoing model monitoring reports, identify potential model risk and document the findings to key stakeholders while evaluating the corrective actions
• Assist in building benchmark models used across the model validation team, design backtesting or other methodologies to test the conceptual soundness of model assumptions

We are looking for 

• Previous quantitative risk management, model validation or model development experience from across the Investments, Consulting or Banking industry with sound experience of validating or developing valuation or risk models across asset classes such as FX, Rates and Equities
• Strong quantitative skills across programming languages such as R, SQL, C++, SAS, Python, MATLAB. Expertise in at least one of Python or C++ is essential.
• Good understanding of valuation methods, capital markets, portfolio theory and risk management
• Excellent verbal and written communications skills -- previous experience of writing either technical documentation related to model validation or development or independent peer-reviewed research articles
• Educated to post-graduate degree level in a quantitative field such physics, mathematics, statistics, economics or engineering, or with relevant industry experience / professional qualification
• German language fluency is required

~German Version~

Team-/Abteilungsübersicht

Die Risikoplattform ist die unabhängige Risikoüberwachungsfunktion der DWS. Model Risk ist Teil der Risikofunktion und ist für Governance und Kontrolle einer Vielzahl von im Unternehmen verwendeten Modellen und der damit verbundenen Risiken zuständig. Das Model Risk Team arbeitet als globale Organisation mit Teammitgliedern in New York, London und Frankfurt. Der Schwerpunkt liegt auf der Validierung, Prüfung und Überwachung der Verwendung von Modellen im Zusammenhang mit Unternehmensrisiken (Liquidität/Ökonomisches Kapital) und Investitionsrisiken für liquide und illiquide Investmentstrategien.

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Rollendetails

Als Risk Manager verantworten Sie:

• die Durchführung von Modellvalidierungen von internen  und Vendor-Modellen, unter Berücksichtigung von behördlichen Leitlinien, internen Richtlinien und Verfahren sowie bewährter Branchenpraxis, Kommunikation der Validierungsergebnissen und Erstellung der Validierungsberichte
• die enge Zusammenarbeit mit Investmentteams zu Themen wie Modellannahmen und -beschränkungen, um sicherzustellen, dass die Modelle für bestimmte Zwecke geeignet sind
• die Durchführung der unabhängigen Modellprüfungen zu komplexen Themen gemäß den Geschäftsanforderungen und regulatorischen Anforderungen
• die Überprüfung der Modellüberwachungsberichte, Identifizierung potenzieller Modellrisiken und Dokumentation der Ergebnisse gegenüber wichtigen Interessenvertretern
• die Unterstützung bei der Erstellung von Benchmark-Modellen, die im gesamten Modellvalidierungsteam verwendet werden, beim Backtesting oder bei anderen Methoden, um die konzeptionelle Stimmigkeit von Modellannahmen zu testen

Wir suchen:

• Erfahrung im Bereich quantitatives Risikomanagement, Modellvalidierung oder Modellentwicklung aus der Investment-, Beratungs- oder Bankenbranche, insbesondere Erfahrung mit Validierung oder Entwicklung von Bewertungs- oder Risikomodellen für Anlageklassen wie Devisen-, Zins- und Aktieninstrumente
• Fundierte quantitative Kenntnisse in Programmiersprachen wie R, SQL, C++, SAS, Python, MATLAB. Kenntnisse in mindestens Python oder C++ sind notwendig
• Gutes Verständnis von Bewertungsmethoden, Kapitalmärkten, Portfoliotheorie und Risikomanagement
• Hervorragende mündliche und schriftliche Kommunikationsfähigkeiten –Erfahrung mit dem Verfassen technischer Dokumentation im Zusammenhang mit Modellvalidierung oder -entwicklung oder unabhängigen, von Experten begutachteten Forschungsartikeln
• Akademische Ausbildung in einer quantitativen Disziplin (z.B. Physik, Mathematik, Statistik, Wirtschaftswissenschaften oder Ingenieurwesen) oder einschlägige Berufserfahrung
• Deutschkenntnisse sind erforderlich

~German Version End~

What we’ll offer you:

Without the ambitions of our people, our achievements wouldn’t be possible. And it’s important to us that you enjoy coming to work - feeling healthy, happy and rewarded. At DWS, you’ll have access to a range of benefits which you can choose from to create a personalised plan unique to your lifestyle. Whether you’re interested in healthcare, company perks or are thinking about your retirement plan, there’s something for everyone.

Some of our core benefits:
 

• Physical and Mental Health Well-Being benefits including (but not limited to) Statutory Health Insurance (BKK), sickness benefit allowance and support helplines for employees
• Family friendly benefits including generous parental leave packages (supporting all variations of family set-ups) and support in finding childcare options including DWS’s own kindergarten service
• A wide selection of pension plans, Personal Budget Accounts to enable sabbaticals or early retirement and capital-forming benefits
• The opportunity to support our CSR strategy which is focused on combatting climate change & achieving greater social justice. You can make donations to our partnered organisations or take part in corporate volunteering opportunities in your local communities by providing on hand support.

DWS’ current Hybrid Working model is designed to find the balance between in-person collaboration & engagement in the office, which is core to our working culture, whilst still remaining focused on supporting our employees with flexibility. We are committed to support flexible and hybrid working agreements across the globe. Depending on the location or role you are applying for, the split between working in the office and at home will be discussed and made clear as part of your application and interview process.

We will continue to review and evolve our working environments and methods to ensure that we are working in the best way possible for our people.

If you require any adjustments or changes to be made to the interview process for any reason including, or related to a disability or long-term health condition, then please contact your recruiter and let us know what assistance you may need. Examples of adjustments include providing a change to the format of the interview or providing assistance when at the DWS office. This will not affect your application and your recruitment team will discuss options with you. 

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Our values define the working environment we strive to create – diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.

We promote good working relationships and encourage high standards of conduct and work performance.