JPMorgan Chase Corporate - Model Risk Governance and Review - Central Challenger - Associate in Brooklyn, New York

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.

Model Risk Governance & Review (MRGR) is a Corporate Risk team within JPMC with the responsibility for developing and implementing the Firmwide Model Risk Management (MRM) framework across the firm.

The Central Challenger team within MRGR has a firm-wide purview for independently assessing and driving improvements in the following areas:

  • Forecasting methodologies developed within various lines of business (LOBs) for the Firm’s Capital Stress Testing process. It also includes developing independent statistical models/analytical calculators to challenge LOB results.

  • Key assumptions and pro-forma financial results across material entities, primarily in the context of the Firm’s Resolution and Recovery process.

  • Key financial calculations across the Firm, including those related to capital measurement, stress testing & reporting, product valuations, and other high priority processes.

Job Summary:

  • Forecasting methodologies developed within various lines of business (LOBs) for the Firm’s Capital Stress Testing process. It also includes

  • Key financial calculations and processes deemed Non Model Estimation (NME) and Management Judgements across the Firm, including those related to capital measurement, stress testing & reporting, product valuation, and other high priority processes. Responsibilities include developing independent statistical models/analytical calculators to challenge LOB results and macroeconomic variables distributed centrally for stress testing.

  • Key assumptions and pro-forma financial results across material entities, primarily in the context of the Firm’s Resolution and Recovery process.

  • Review of the firm’s high risk User Tools used for regulatory capital reporting/SOX/Valuation.

  • Capital Markets products across the entire range of securities and derivatives held within the Firm’s Corporate Investment Bank and Chief Investment Office entities.

  • Risk/Capital calculations and macroeconomic variable modeling for firm wide stress testing such as CCAR

Core Responsibilities:

  • Develop an understanding of the drivers of the behavior of balances/fees/losses of different products and businesses using a combination of research and liaising with business lines.

  • Analyze forecasting frameworks using mathematical approaches (including but not limited to time series analysis and regression approaches) to ensure they make business sense and satisfy statistical feasibility criteria

  • Stay abreast of macroeconomic, regulatory and industry landscape and bring this to bear in benchmarking analysis and process changes.

  • Identify innovation opportunities to enhance forecast effectiveness and efficiency

The team partners with the Corporate Capital Stress Testing team, Recovery & Resolution team, Lines of Business, Regulatory Policy, Financial Reporting, Quantitative Research and various other Finance and Risk teams on various firm-wide initiatives.

The position involves interaction with many teams across finance and risk, lines of business (front/middle/back office) and reporting groups. The ability to work efficiently and communicate effectively across these boundaries will be one of the keys to success.

The specific role and responsibilities of the successful candidate will evolve based on qualifications, prior experience and demonstrated skills.

  • 3+ years of experience in banking / financial services industry

  • Advanced degree in a Finance, Engineering, Economics, Math/Statistics or related quantitative discipline

  • Strong quantitative, analytical skills and flair for independent research & problem solving

  • Knowledge of financial products/markets and regulatory requirements

  • Strong organizational, communication (verbal and written) and negotiation skills

  • Extreme attention to detail

  • Self-starter who is able to perform effectively in a fast paced, results driven environment

  • Risk Management and Control mindset (ability to identify control gaps and/or issues)

Additional qualifications/experience considerations:

  • Background or experience with various models (including pricing, capital, and/or financial forecasting models) and the model development and maintenance life cycle.

  • Experience in statistical modeling software (SAS, EViews, R, Matlab etc.)

  • Experience and knowledge in regulatory capital rules (Basel and CCAR)

JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.