Associate, Model Governance Team null

Job Description

About Us:

JPMorgan Chase & Co., 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.

Financial Institutions routinely use models for a broad range of activities including estimating the fair value of assets, identifying and measuring risk, hedging derivative positions, conducting stress testing, assessing capital adequacy, etc. Model Risk arises from the potential adverse consequences of making decisions based on incorrect or misused model outputs and reports, leading to financial loss, poor business decision making, or reputational damage. 

As part of the firm’s model risk management function, the Model Governance Group (MGG) is charged with guiding the applicable model use governance, advising businesses on the appropriate usage of models, ensuring that model user are aware of models’ strengths and limitations, evaluating ongoing model performance testing, and performing model validation. 

Core responsibilities:

The successful candidates will have a keen interest in working with models used across the firm’s business activities. The candidate will join the team within MGG that is tasked with analysis and effective challenge of the Model Risk Management Framework including (but not limited to) the following areas:

• Evaluation of rigor and uniformity of model validation spanning models used by business areas across the bank: Capital, Credit, Data Science, Liquidity, ML, Risk, Valuation
• Identification of process weaknesses and proposal of remediation to meet strategic target state of the Model Risk Management framework
• Maintenance of model review and documentation templates in line with both regulatory guidance and the firm’s model development and review standards
• Development of best practice guidelines and training materials related to Model Risk Management and control practices

Qualifications:

• Experience with Model validation and/or development is a strong plus
• Strong quantitative & analytical skills founded on a Master’s Degree (or higher) in a quantitative discipline such as Math, Science, Economics, Engineering, Quantitative/Math Finance, etc.
• Strong written and verbal communication skills and ability to interface with other functional areas in the bank on model-related issues
• Risk and control mindset: the ability to ask incisive questions, converge on critical matters, assess materiality, and escalate issues

About the Team:

Our 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 creditworthiness. Risk Management provides independent oversight and maintains an effective control environment.