Risk Analyst

FDM is a global business and technology consultancy seeking a Junior Model Risk Analyst to work for our client within the Banking sector. This is initially a 6 month contract with very good prospects to extend and will be a hybrid role that will be based in London.

Our client is seeking highly motivated early‑career professionals to join the Model Risk Management team within a top FDM Client- a major Australian bank. This team plays a critical role in safeguarding the bank through independent oversight, validation, and governance of the models that drive key financial, risk, and regulatory decisions.

This is an excellent opportunity for candidates with strong quantitative capability, analytical thinking, and an interest in financial markets, modelling, and emerging technologies such as AI. As a Junior Model Risk Analyst, you will support the review, validation, and ongoing monitoring of a wide range of risk models used across the bank- including credit risk, market risk, valuation, pricing, and AI/ML‑based applications.

You will work closely with senior analysts to ensure models meet regulatory expectations, internal standards, and industry best practice. The work is varied, intellectually challenging, and central to the bank’s risk and compliance framework.

Responsibilities:

• Supporting independent validation of quantitative models (credit, market, pricing, valuation, forecasting, AI/ML models)
• Assisting with model documentation, testing, and performance monitoring
• Contributing to regulatory compliance activities and model governance processes
• Analysing model inputs, assumptions, and outputs to identify risks and control gaps
• Supporting uplift projects across model risk, compliance, and efficiency initiatives

About You

We’re looking for candidates who bring strong quantitative foundations, curiosity, and attention to detail, you must hold a University Degree (Bachelor or Higher). You may come from backgrounds such as:

• Actuarial science
• Forensic accounting
• Quantitative finance
• Mathematics, statistics, economics
• Engineering or computer science
• Physics, or Aeronautical Engineering
• Former trading or markets experience (junior level)
• Project or model governance roles

You should also have:

• Strong numeracy and analytical problem‑solving skills
• High academic achievement in a quantitative discipline
• Understanding of advanced modelling techniques
• Interest in coding, automation, and leveraging technology
• Ability to communicate complex concepts clearly
• Strong attention to detail and a commitment to compliance and control
• A collaborative mindset and willingness to learn

Experience with SAS, Python, R, or similar tools is highly regarded. Experience in Finance desirable.

About Us

We are a business and technology consultancy and one of the UK's leading employers, recruiting the brightest talent to become the innovators of tomorrow. We have centres across Europe, North America and Asia-Pacific, and a global workforce of over 2,500 Consultants. FDM has shown exponential growth throughout the years, firmly establishing itself as an award-winning employer and is listed on the FTSE4Good Index.

Diversity and Inclusion

FDM Group is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, colour, religion, sex, sexual orientation, national origin, age, disability, veteran status or any other status protected by federal, provincial or local laws.

Why join us

• Career coaching, mentoring and access to upskilling throughout your entire FDM career
• Assignments with global companies and opportunities to work abroad
• Opportunity to re-skill and up-skill into new areas, develop non-linear career paths and build a skillset within your field
• Annual leave and work-place pension