Job Description
As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.
MRGR is a global team of modeling experts within the firm's Risk Management and Compliance organization. The team is responsible for conducting independent model validation and model governance activities to help identify, measure, and mitigate Model Risk in the firm. The objective is to ensure that models are fit for purpose, used appropriately within the business context for which they have been approved, and that model users are aware of the model limitations and how they could impact business decisions.
Being part of the MRGR team will put you at the center of the firm's model validation and governance activities with exposure to a wide variety of model types and cutting-edge modeling techniques, while frequently interacting with the best and brightest in the firm. You will expand your knowledge of the different forecasting models used in the firm, their unique limitations, and use that knowledge to help shape business strategy and protect the firm.
Core responsibilities.
- Engage in typical model validation activities, including evaluating the conceptual soundness of model specifications, the reasonableness of assumptions and reliability of inputs, the completeness of testing performed to support the correctness of the implementation, the robustness of numerical aspects, and the suitability and comprehensiveness of performance metrics and risk measures associated with the use of the models.
- Perform additional model review activities, including proposing enhancements to existing models, assessing extensions to the scope of existing models, and developing benchmarking models.
- Apply in-depth understanding of the drivers of balances and revenues for different investment banking and Markets products and businesses by using a combination of research and liaising with business lines.
- Liaise with Risk and Finance professionals to provide oversight and guidance on appropriate usage, controls around model restrictions and limitations, and findings for ongoing performance assessment and testing.
- Maintain model risk control apparatus of the bank for the coverage area and serve as the first point of contact.
- Stay updated on the latest developments in the coverage area in terms of products, markets, models, risk management practices, and industry standards.
Qualifications:
- Strong quantitative and analytical skills: Master's degree in a quantitative field such as Math, Physics, Engineering, Statistics, Economics or Finance.
- 0 - 2 years of experience in a quantitative or modeling role.
- Deep understanding of statistical/econometric models such as linear, logistics and time series models.
- Proficiency in Python, R, or equivalent.
- Domain expertise in PPNR and balance sheet modeling, stress testing exercises (such as CCAR, ICAAP, etc.), financial forecasting, econometrics and statistics, and machine learning methods is preferred.
- Strong communication skills verbally and particularly in writing, with the ability to interface with other functional areas in the firm on model-related issues and write high quality technical reports
- Risk and control mindset: ability to ask incisive questions, converge on critical matters, assess and escalate issues.
- Prior experience in financial products/markets and regulatory stress testing (CCAR/ICAAP) is a plus
ABOUT USJPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
ABOUT THE TEAMOur professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we're setting our businesses, clients, customers and employees up for success.
Risk Management helps the firm understand, manage and anticipate risks in a constantly changing environment. The work covers areas such as evaluating country-specific risk, understanding regulatory changes and determining credit worthiness. Risk Management provides independent oversight and maintains an effective control environment.
