JPMorgan Chase Corporate - Wholesale Credit Analytics & Solutions - Wholesale Loans Stress Testing, Budget-Baseline Forecasting agenda – Associate in Jersey City, New Jersey
JPMorgan Chase is a leading global financial services firm with assets of $2.5 trillion and operations in more than 60 countries. The firm is a leader in investment banking, commercial banking, financial services for small business and consumers, financial transaction processing, asset management and private equity.
Wholesale Credit Analytics and Solutions (WCAS)
The Wholesale Credit Analytics and Solutions team (WCAS) is responsible for implementing key credit risk practices across Wholesale businesses and for ensuring consistency in methodologies within Wholesale Credit Risk. WCAS’ areas of responsibility include Traditional Credit Product stress testing, developing the firm's authoritative wholesale credit risk parameter data set, reserve/allowance management, development and implementation of an economic credit capital model, the construction and integration of credit and capital limits, risk grading methodology, and the provision of strategic advice and solutions to the originating businesses.
WCAS provides excellent exposure to any candidate interested in Credit Risk, Basel regulations, and Economic Capital. The team works across the Wholesale bank and is closely aligned with firm-wide partners including Reporting, Finance, Model Risk & Development, Technology and the Regulatory Capital Management Office. We seek candidates with strong skills in finance, analytics, problem-solving, and communication.
Role Description and Responsibilities
The successful candidate will join a broader team focused on the review and performance of stress testing models for the wholesale loan portfolio, with a focus on Balance, Credit Cost, Income, and Capital metrics
Work closely with senior management to drive technical thought leadership and best practice adoption on how forecasting should evolve to meet business, risk and regulatory needs
The Budget-Baseline forecasting Associate will work very closely with each Line of Business to ultimately gain a firm understanding of the firm’s Budgeting methodologies
A key benchmark to measure the success of the stress testing model is reflected in the comparison of stress testing results for a Baseline scenario (normal economic environment) against Budgeted forecasts produced by Finance P&A teams
This effort will have significant impact on JPMorgan’s CCAR submission and has significant senior management attention.
Specific responsibilities include:
Owns tactical and strategic implementation of Budget-Baseline forecasting agenda, with the goal to facilitate a long-term goal that allows Budget and economic scenario driven projections to be produced in a more common framework
Skillful at communicating key drivers of the loss forecasting model to both senior management as well as line of business executive management
Work with a high-performing team that leads advanced analyses to assess relationships and patterns driving loss performance and assess performance of existing models
Additional functions may include:
Produce annual CCAR 2017 Narratives, an overview of JPM’s Wholesale portfolio, forecasting methodologies, and results. Participate in Fed/JPM model review meetings
Responsible to contribute to firm wide Risk Identification and Scenario Design agenda on behalf of Wholesale
Responsible to establish CCAR model output sensitivities to macro-economic variables, creating a sustainable process to maintenance sensitivity changes in response to model enhancements
Produce Product Briefs and model training material, ability to develop product and model expertise
Support Forecasting lead in other strategic initiatives. Contribute to various ad hoc analysis, including support for underlying Overlay documentation and support for analysis of results
The ideal candidate should possess the following:
2 – 5 years of experience working in Credit Risk and/or Finance, with a preferred focus on CCAR stress testing or P&A budgeting processes
Demonstrated ability of packaging and summarizing qualitative and quantitative information effectively and concisely to help drive strategic decision making processes
Strong desire to gain an understanding of JPM’s portfolio composition at macro level, along with the key risk drivers by industry, product, and business unit
Strong desire to learn model techniques for TCP portfolios, and key credit risks concepts
Excellent communication and partnering skills to coordinate with multiple functional areas
Inquisitive nature with advanced problem solving and critical thinking capabilities
Excellent PowerPoint skills required, strong Microsoft Excel. Tableau experience preferred
Wholesale loans and commitments products
CCAR or other regulatory reporting
Balance sheet and Income Statement analysis from a business perspective
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.