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 firms 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 firms 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:  Masters 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

The successful candidate will be a member of the MRGR group covering Commercial and Investment Bank (CIB) Finance PPNR and balance sheet forecasting models used for both regulatory exercises (such as CCAR, ICCAP, etc.) and BAU risk management activities across all Investment Banking and Markets businesses.