Euronext Clearing- Senior Associate, Financial Risk LOD2

Join us as a Senior Quantitative Risk Analyst – Financial Risk (LOD2, CCP)Location: Rome (Hybrid)Team: Clearing Risk – LOD2 Financial & Credit RiskReporting to: Head of Financial & Credit RiskGross Annual Salary: 45.000 - 50.000 euroAbout the roleWe 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 responsibilitiesModel 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 conditionsIdentify weaknesses and propose improvements, recalibration, or redesignContribute to structured reviews of new models, parameter changes, and new business initiativesEMIR Tests & Quantitative Validation ActivitiesExecute and enhance EMIR-mandated tests (Backtesting, Sensitivity Analysis, Reverse Stress Testing)Analyse results with a critical view on model performance, stability, and procyclicalitySupport interpretation of outcomes and escalation of key findingsContribute to continuous improvement of testing frameworks and methodologiesControls & Risk MonitoringDesign and perform quantitative controls on margin, default fund, and key risk metricsMonitor consistency, stability, and risk sensitivity of model outputsDevelop anomaly detection approaches (including data-driven or ML-based techniques)Investigate outliers and perform deep-dive analyses when neededOther responsibilities (secondary scope)Contribute to the challenge of key risk policies (Default Management, Liquidity, Collateral, Investment)Support default-related activities (e.g. liquidation logic, fire drills)Contribute to liquidity and investment risk monitoring toolsSupport development of internal analytics (including credit-related insights where relevant)Contribute to regulatory monitoring (EMIR / ESMA / IOSCO) and internal reportingParticipate in the development of tools, dashboards, and automation initiativesWhat we are looking forWe are looking for a strong quantitative thinker, able to challenge and not just execute.Required:Degree in Mathematics, Physics, Engineering, Quantitative Finance or similarStrong understanding of financial risk conceptsSolid analytical mindset with the ability to question models and assumptionsGood programming skills (Python preferred) for data analysis and modellingAbility to work independently on complex and unstructured problemsPreferred:Experience in CCPs, clearing houses, or financial marketsKnowledge of margin methodologies (VaR, Expected Shortfall, stress testing)Familiarity with EMIR or similar regulatory frameworksExposure to large datasets and/or machine learning / AI techniquesWhat makes this role interestingDirect involvement in the independent challenge of CCP risk modelsExposure to regulatory-driven quantitative frameworks (EMIR testing)High visibility and interaction with senior stakeholdersOpportunity to develop a critical understanding of how risk models behave in practiceSteep learning curve across multiple asset classes and risk dimensionsWhy join usYou will be part of a function that plays a critical role in ensuring the robustness and credibility of the CCP risk framework.This is an opportunity to work on complex quantitative problems with real impact, in an environment where critical thinking and independence are key.We are proud to be an equal opportunity employer. We do not discriminate against individuals on the basis of race, gender, age, citizenship, religion, sexual orientation, gender identity or expression, disability, or any other legally protected factor. We value the unique talents of all our people, who come from diverse backgrounds with different personal experiences and points of view and we are committed to providing an environment of mutual respect. Additional InformationThis job description is only describing the main activities within a certain role and is not exhaustive. It does not prevent to add more tasks, projects. SummaryLocation: Rome - via Tomacelli; MilanType: Full time