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.

About Parameta Solutions

Parameta Solutions is the Data & Analytics division of TP ICAP Group. The business provides clients with unbiased OTC content and proprietary data, in-depth insights across price discovery, risk management, benchmark and indices, and pre and post-trade analytics. Its post-trade solutions offering helps market participants control their counterparty and regulatory risks through a growing range of tools that manage balance-sheet exposure, as well as compression and optimisation services. The Data & Analytics division includes the following brands: Tullett Prebon Information, PVM Data Services, ICAP Information and Burton-Taylor Consulting.

Role Overview

We are seeking a highly skilled Risk Product Engineer to join our Financial Engineering team within Parameta Solutions. This is a hands-on, client-facing role focused on delivering premium structuring, valuation, and risk solutions to our expanding global client base.

You will bring strong expertise in OTC derivatives, structured notes, and risk management practices—ideally from experience in a trading, structuring, or financial engineering environment at a leading financial institution. Your deep understanding of market standards, valuation models, and regulatory requirements will be critical in shaping innovative risk products and services in collaboration with internal teams and external partners.

Key Responsibilities

Support the Senior Product Manager – Risk in the design and development of solutions addressing client needs around risk, valuation, and product control.

Contribute to the execution of Data & Analytics (D&A) go-to-market strategies, including joint ventures and collaborations with third-party vendors and technology providers.

Collaborate closely with Quantitative and Data Science teams within TP ICAP to create cutting-edge tools and services for valuation, pricing, and risk analytics.

Participate in the full lifecycle of product development, from market research and concept testing through to implementation and client rollout.

Apply market expertise to evaluate and enhance existing D&A product sets and solutions, ensuring they meet evolving market and regulatory standards.

Provide qualitative and quantitative analysis of derivative pricing model outputs, including validation and calibration of bespoke and exotic instruments.

Present risk solutions and analytics clearly to clients and stakeholders across various communication formats—verbal, written, and in presentations.

Act as a subject matter expert across asset classes (FX, Rates, Credit, Commodities, and Equities), bringing insight into valuation techniques, market conventions, and hedging approaches.

Ensure alignment between internal functions including Product, Sales, Technology, and Operations to meet client requirements effectively.

Travel to client sites or other TP ICAP offices as required to support product implementations and training.

Experience / Competencies

Essential

Significant experience in derivatives trading, structuring, product control, or financial engineering at a top-tier bank or financial institution.

Demonstrated cross-asset knowledge, particularly in OTC derivatives and structured products across FX, Rates, Credit, Commodities, and Equities.

In-depth understanding of valuation models and methodologies used for both vanilla and exotic options.

Hands-on experience assessing and calibrating pricing model outputs, including adjustments for market conventions and bespoke features.

Strong understanding of market risk frameworks and the ability to interpret how valuation models tie into risk and capital management.

Excellent communication and presentation skills with the ability to explain complex financial concepts to both technical and non-technical audiences.

Demonstrated ability to work effectively in a fast-paced, cross-functional, and multi-asset environment.

Proficiency with Microsoft Excel and Word.

Master’s degree in a quantitative discipline such as Mathematics, Physics, Engineering, or Financial Engineering.

Desired

PhD in Mathematical Finance, Financial Engineering, or a related quantitative field.

Familiarity with industry-standard pricing tools such as Bloomberg, Reuters, Numerix, or equivalent.

Programming experience in VBA, C++, Python, or MATLAB for financial modelling or prototyping.

Experience with building or validating custom structured note term sheets.

Understanding of risk-related regulatory requirements (e.g. FRTB, XVA, capital optimisation, model risk governance).

Exposure to working within a product-led Agile development framework.

Ability to work across functional teams, including business stakeholders, developers, and data scientists.

Job Band & Level

Professional / 5

#PARAMETA #LI-ASO #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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