Join JPMorgan Chase's Risk Management and Compliance team, where your expertise will be pivotal in maintaining our strength and resilience. You'll be tasked with anticipating emerging risks and using your judgement to address challenges impacting our company, customers, and communities. Our culture encourages innovative thinking and challenges the status quo, striving for excellence in all we do.

As a Risk Management - Model Risk Associate in the Risk Management and Compliance team, you are at the center of keeping JPMorgan Chase strong and resilient. You help us grow our 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 is all about thinking outside the box, challenging the status quo and striving to be best-in-class. Being part of our 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.

Job Responsibilities

Set standards for robust model development practices and enhance them as needed to meet evolving industry standards Evaluate adherence to development standards including soundness of model design, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, and suitability of performance metrics  Identify weaknesses, limitations, and emerging risks through independent testing, building of benchmark models, and ongoing monitoring activities Communicate risk assessments and findings to stakeholders, and document in high quality technical reports Assist the firm in maintaining (i) appropriateness of ongoing model usage, and (ii) the level of aggregate model risk within risk appetite 

 

Required qualifications, skills and capabilities

A Degree in a quantitative field such as Math, Physics, Engineering, Economics or Finance is required. 2 plus years of experience in a quantitative or modeling role.  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  Experience with large data sets is required Understanding of  Python, R, or equivalent Deep understanding of statistics / econometrics Risk and control mindset: ability to ask incisive questions, assess materiality of model issues, and escalate issues appropriately

Preferred qualifications, skills and capabilities

A Ph.D. or Master’s degree in a quantitative field such as Math, Physics, Engineering, Economics or Finance is a plus. Knowledge of credit loss forecasting models for C&I portfolios is desirable. Additionally, knowledge of credit models such as Merton type structural models is a plus. Some knowledge of pricing models is useful.