The TP ICAP Group is a world leading provider of market infrastructure.

Our purpose is to provide clients with access to global financial and commodities markets, improving price discovery, liquidity, and distribution of data, through responsible and innovative solutions.

Through our people and technology, we connect clients to superior liquidity and data solutions.

The Group is home to a stable of premium brands. Collectively, TP ICAP is the largest interdealer broker in the world by revenue, the number one Energy & Commodities broker in the world, the world’s leading provider of OTC data, and an award winning all-to-all trading platform.

Founded in London in 1866, the Group operates from more than 60 offices in 27 countries.  We are 5,200 people strong.  We work as one to achieve our vision of being the world’s most trusted, innovative, liquidity and data solutions specialist.

Financial Risk Management (FRM) Overview

The FRM team operates across the TP ICAP Group to embed best practices in financial risk management and control, ensuring they are consistently followed. FRM provides comprehensive oversight of the Group’s financial risks on behalf of the Group CRO and the Board.

Role Overview

The role holder will be responsible for ensuring that an appropriate model risk framework is in place and that the Group operates in line with that framework, with a particular focus on algorithmic models. They will also be expected to support broader Market, Credit, and Liquidity risk activities within FRM.

Role Responsibilities

Framework Design

Ensure that policies and procedures remain compliant with regulatory requirements and aligned  with industry best practices

Maintain an up-to-date inventory of TP ICAP’s algorithmic trading systems, including third-party vendor models

Partner with model developers, quantitative analysts, and IT teams to embed robust risk management practices throughout the model lifecycle

Periodic Model Review

Assess, validate, and review model development, implementation, operation and usage

Evaluate model assumptions, methodologies, and conceptual soundness

Perform independent validations and oversee both internal and external validation processes

Oversight & Engagement

Monitor the operation and performance of algo trading systems, including the design and effectiveness of relevant core controls

Support the Chair of the Global Algo Forum by defining agendas and preparing and reviewing papers

Prepare detailed reports and presentations for senior management, executive committees, and regulators

Lead training sessions and workshops to promote model risk awareness and foster a risk-conscious culture across the organisation

Experience / Competences

Essential

A Bachelor’s degree in Finance, Economics, Mathematics, Computer Science, or a related discipline

Experience in model risk management or a closely related field

Proven exposure to algorithmic trading systems and order types, including benchmark algorithms (e.g., TWAP, VWAP, POV) and liquidity-seeking strategies (e.g., dark pool aggregators)

Demonstrated foundation in statistical analysis, econometric theory, and data modelling

Demonstrated ability to analyse complex datasets, assess model performance, and make sound, data-driven decisions

Excellent verbal and written communication skills, with the ability to translate technical concepts into clear, actionable insights for non-technical stakeholders

A meticulous approach to work, ensuring accuracy and consistency in all aspects of model evaluation and reporting

Desired

A Master’s degree or relevant professional certification (e.g., FRM, CFA)

Experience with electronic trading platforms such as Trading Technologies, Fidessa, or equivalent

Experience in programming languages such as Python, R, SAS, or SQL

Job Band & Level:  

Manager / 6

#LI-MID #LI-Hybrid

Not The Perfect Fit?

Concerned that you may not meet the criteria precisely? At TP ICAP, we wholeheartedly believe in fostering inclusivity and cultivating a work environment where everyone can flourish, regardless of your personal or professional background. If you are enthusiastic about this role but find that your experience doesn't align perfectly with every aspect of the job description, we strongly encourage you to apply. You may be the ideal candidate for this position or another opportunity within our organisation. Our dedicated Talent Acquisition team is here to assist you in recognising how your unique skills and abilities can be a valuable contribution. Don't hesitate to take the leap and explore the possibilities. Your potential is what truly matters to us.

Company Statement

We know that the best innovation happens when diverse people with different perspectives and skills work together in an inclusive atmosphere. That's why we're building a culture where everyone plays a part in making people feel welcome, ready and willing to contribute. TP ICAP Accord - our Employee Network - is a central to this. As well as representing specific groups, TP ICAP Accord helps increase awareness, collaboration, shares best practice, and holds our firm to account for driving continuous cultural improvement. 

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