Quantitative Risk Analyst

About the role:

Quantitative Risk Analyst plays a pivotal role in safeguarding the integrity of the models that drive critical financial decisions. You'll be part of a collaborative, multi-location team spanning Bangalore, London, and Zurich, reviewing derivatives pricing to insurance-linked risk models. This is a role where your analytical rigor, curiosity, and technical depth will directly influence how Swiss Re understands and manages financial risk at a global scale.

Key Responsibilities:

• Validate valuation and risk measurement models across a wide range of asset classes including fixed income, equity, derivatives, and insurance-linked derivatives, working closely with colleagues in London and Zurich
• Review and critically assess risk aggregation methodologies such as Value at Risk (VaR), Stress Testing, and Credit Risk Measurement to ensure mathematical soundness and practical accuracy
• Evaluate financial risk representations embedded in insurance products, bridging the gap between actuarial and quantitative finance disciplines
• Conduct independent model testing and alternative model analysis, including building independent model implementations where necessary, to quantify and communicate model risk
• Prepare clear, thorough validation documentation summarising findings, conclusions, and recommendations in line with approved standards — ensuring technical rigour meets business clarity
• Track and follow up on identified model issues, ensuring timely resolution or appropriate risk containment measures are in place
• Collaborate across teams and geographies, engaging with model developers, risk managers, and IT stakeholders to deliver robust, fit-for-purpose solutions

About the team:

The Financial Model & Valuation Risk Management (FM&VRM) team is part of Swiss Re's Group Risk Management division, with presence across London, Zurich, and Bangalore. The team is responsible for ensuring that every material model or tool used to determine the valuation or risk characteristics of financial instruments is grounded in sound mathematical and economic principles, correctly implemented, and producing accurate results.

Beyond model validation, the team plays an active role in developing and maintaining the risk methodologies used by Financial Risk Management (FRM), and works in close partnership with IT to build robust, scalable platforms that power FRM's work. It's a team that values intellectual curiosity, precision, and a collaborative spirit — where every team member's contribution makes a real difference.

About you:

You are a detail-oriented, intellectually curious quantitative professional who brings both technical depth and strong communication skills to the table. You're comfortable navigating complexity, enjoy learning new modelling approaches, and take pride in producing well-structured, insightful technical documentation. You work well across cultures and time zones, and you're energized by the opportunity to contribute to a high-impact global team.

Requirements:

• Strong academic background with an undergraduate or master's degree in a quantitative discipline such as quantitative finance, mathematics, statistics, physics, or engineering
• 4+ years of experience in a quantitative role within a financial institution, with hands-on exposure to financial modelling, risk measurement, or model validation
• Demonstrated written communication skills, with the ability to produce clear, structured technical reports — a sample technical report will be requested as part of the screening process
• Strong organizational skills with the ability to manage multiple priorities, meet deadlines, and maintain high-quality output under pressure
• Proactive, self-driven attitude with a genuine willingness to explore unfamiliar areas and apply general technical knowledge to new, specific challenges

Nice to haves:

• Strong understanding of derivatives pricing theory and numerical methods (e.g., Monte Carlo simulation, finite difference methods, analytical approximations)
• Experience with risk aggregation frameworks such as VaR, stress testing, or economic capital models within a financial or insurance context
• Actuarial qualifications or professional experience in the (re)insurance industry, bridging quantitative finance and insurance risk
• Exposure to programming environments such as Python, R, MATLAB, or C++ for model testing and independent implementation

Our company has a hybrid work model where the expectation is that you will be in the office at least three days per week.