Join us as a Senior Quantitative Risk Analyst – Financial Risk (LOD2, CCP)
Location: Rome (Hybrid) Team: Clearing Risk – LOD2 Financial & Credit Risk Reporting to: Head of Financial & Credit Risk Gross Annual Salary: 45.000 - 50.000 euro
About the role
We are looking for a quantitative profile to join the Risk Oversight & Controls (ROC) function within the Second Line of Defence (LOD2) of a Central Counterparty (CCP). The role is focused on independent model challenge, EMIR regulatory testing and controls across margin, default fund, and risk frameworks. This is a high-impact position: you will not develop models, but you will assess, challenge, and strengthen them. You will work at the intersection of quantitative modelling, risk governance, and regulatory expectations.
Key responsibilities
- Model Challenge (core focus)
- Perform independent challenge of Initial Margin, Default Fund, and stress testing frameworks across asset classes (Fixed Income, Equities, Derivatives, Commodities, Power)
- Analyse model assumptions, limitations,



and behaviour under stressed and non-linear market conditions
- Identify weaknesses and propose improvements, recalibration, or redesign
- Contribute to structured reviews of new models, parameter changes, and new business initiatives
- EMIR Tests & Quantitative Validation Activities
- Execute and enhance EMIR-mandated tests (Backtesting, Sensitivity Analysis, Reverse Stress Testing)
- Analyse results with a critical view on model performance, stability, and procyclicality
- Support interpretation of outcomes and escalation of key findings
- Contribute to continuous improvement of testing frameworks and methodologies
- Controls & Risk Monitoring
- Design and perform quantitative controls on margin, default fund, and key risk metrics
- Monitor consistency, stability, and risk sensitivity of model outputs
- Develop anomaly detection approaches (including data-driven or ML-based techniques)
- Investigate outliers and perform deep-dive anal

📌 Euronext Clearing- Senior Associate, Financial Risk (Roma)
🏢 Cassa di Compensazione e Garanzia
📍 Roma