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Corporate - Model Risk Governance & Review - Model Review Group - VP/ED

Job Description

The Model Risk Governance and Review Group (MRGR) oversees model risk at JPMorgan, conducts independent model reviews and provides guidance around a model’s appropriate usage. MRGR has recently started a Machine Learning Center of Excellence to ensure that risks posed by ML models are captured accurately and consistently across various Lines of Business. Such models are currently used by the bank to detect fraud, improve marketing techniques, and optimize order routing in markets, among other things.

This Vice President or Executive Director level position requires the successful candidate to run a team to 1) quantitatively evaluate complex AI / ML models, and 2) build benchmark models in the process of evaluating (1). 

Core responsibilities
  • Evaluate conceptual soundness of ML model techniques, specifications and feature sets; reasonableness of assumptions; reliability of inputs; completeness of testing performed; correctness of implementation; and suitability / comprehensiveness of performance metrics and risk measures.
  • Measure the potential impact of model limitations, convergence errors or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from benchmark models.
  • Evaluate the risk posed by non-transparency and non-linearity in ML models, and suggest ways to mitigate such risks.
  • Liaise with Developers, Finance, and Risk professionals to monitor usage and performance of the models.
  • Work with colleagues to evaluate econometric and mathematical models developed by the office of the Chief Investment Officer (CIO), and various other lines of business such as the retail bank, commercial bank and investment bank.
  • Cogently document findings.

Desirable skills, experience, and qualifications

  • A Ph.D. or master’s degree in a quantitative field such as Finance, Economics, Math, Physics or Engineering is required.
  • 7-10 years relevant experience
  • Experience in development of AI / ML models and use of large data sets is required.
  • Understanding of statistics / econometrics.
  • Thorough knowledge of at least one programming language such as Matlab, R, Python, C/C++, etc.
  • Good communication skills
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at
Req #: 180021247
Location: New York, NY US
Job Category: Accounting/Finance/Audit/Risk
Employment Type: Full Time
Potential Referral Amount: 5000 US Dollar (USD)

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