JPMorgan Chase Corporate - RCMO – Central Challenger - Associate in Brooklyn, New York

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, 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.

  • 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.