Apply Now    

Corporate - Model Risk Governance & Review – Associate

Job Description

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.
Risk Management, under the direction of the Firm’s CRO provides a Firmwide independent function for the management of risk. This function provides oversight of the risks inherent in the Firm’s businesses. Each line of business is responsible for decisions relating to risk strategy, policy, measurement and control within its respective business.
The Model Risk and Development Group (MRaD) provides oversight of the Firmwide Model Risk policy, guidance with respect to a model’s appropriate usage, and conducts independent reviews of models. In addition MRaD develops internal models related to measurement of counterparty risk, economic risk capital, and regulatory risk capital measures.
The Firm-wide Model Risk Governance Group focuses on monitoring and evaluating quantitative methodologies used throughout the firm. In particular, the group reviews economic and regulatory capital models, analyses complex model risk, and assesses appropriateness of risk measurement and reserve methodologies in major lines of business (Commercial Bank, Treasury Services, Asset Management, Corporate Treasury, Chief Investment Officer etc.). Team members have opportunities for exposure to a variety of business areas and research projects.
Core responsibilities:
  • Conduct reviews of models used in connection with pricing, loss forecasting, and capital calculation for wholesale products
  • Evaluate conceptual soundness of model specification; reasonableness of assumptions and reliability of inputs; completeness of testing performed to support the correctness of the implementation; robustness of numerical aspects; suitability and comprehensiveness of performance metrics and risk measures associated with use of model.
  • Design and implement experiments to measure the potential impact of model limitations, parameter estimation error or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks.
  • Liaise with front office, Finance and Risk professionals to monitor usage and performance of the models and syndicate the findings of model validation.
  • Advanced degree in Economics, Statistics, Physics, Sciences, Engineering or similar
  • Two years or more of applied modeling, quantitative research and data analysis.
  • Deep understanding of probability theory and statistics 
  • Programming experience in C/C++, Python or similar preferred, experience with statistical software (e.g. SAS, R) is desirable
  • Excellent written and oral communication skills
  • Excellent analytical and problem solving abilities.
  • Experience with model validation/review desirable but not mandatory
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.
Req #: 180051302
Location: New York, NY US
Job Category: Accounting/Finance/Audit/Risk
Employment Type: Full Time
Potential Referral Amount: 3000 US Dollar (USD)

Apply Now    

Join our Talent Community

Not ready to apply? Leave your information with us and we will keep you up to date with new career opportunities.

Join Now

Privacy Statement

Any information you provide is confidential and will only be viewed by our recruiters in an effort to fill open positions. In addition, the information you provide is subject to our privacy policy practices.

Please note that J.P. Morgan will not accept unsolicited approaches or speculative CVs, nor will J.P. Morgan be responsible for any related fees, from Third Party Firms who are not preferred suppliers.

The firm invites all interested and qualified candidates to apply for employment opportunities.

Need disability related assistance?

If you are a US or Canadian applicant with a disability who is unable to use our online tools to search and apply for jobs, please contact us by calling (US and Canada Only) 1-866-777-4690. Please indicate the specifics of the assistance needed.

Keep in touch

Not ready to apply? Leave your information with us and we will keep you up to date with new career opportunities.