Risk Management - Quant Model Risk Associate

Quant Model Risk Associate

As part of Risk Management and Compliance at JPMorgan Chase, you play a key role in maintaining the firm’s strength and resilience. You help the business grow in a responsible way by anticipating new and emerging risks and applying expert judgment to real-world challenges that impact the company, customers, and communities. The culture emphasizes challenging the status quo and striving to be best-in-class.

Within the Model Risk Governance and Review team, you will assess and mitigate risks associated with complex models used across Corporate and Industrial Wholesale loan loss forecasting, Obligor Grading, Economic Capital, and related BAU activities for wholesale credit risk. You will drive continuous improvement in a dynamic, collaborative environment and collaborate closely with model developers and users across various business and functional areas.

Job Responsibilities

• Perform thorough reviews of complex models used in Corporate and Investment Banking (ex-Trading), including PPNR, balance sheet, and RWA forecasting models, by analyzing conceptual soundness, model design, and appropriateness for specific products and structures.
• Evaluate model behavior and ensure the suitability of stress testing models for their intended applications, identifying potential limitations and areas for improvement.
• Develop and implement alternative model benchmarks; design and maintain robust model performance metrics to compare and monitor outcomes of various models.
• Continuously evaluate model performance to ensure models remain fit for purpose and compliant with internal and regulatory standards; recommend enhancements and oversee remediation where necessary.
• Act as the primary point of contact for the business regarding new model implementations and changes to existing models; provide expert guidance on model usage, limitations, and governance requirements.
• Liaise with model developers, Risk, and Control Groups; provide guidance and support on model risk management, validation standards, and regulatory expectations.

Required Qualifications, Capabilities and Skills

• Advanced degree (MSc, PhD, or equivalent) in a quantitative discipline such as mathematics, statistics, financial engineering, or a related field.
• Advanced knowledge of statistics, econometrics, economics, and finance, with demonstrated ability to apply these concepts to financial modeling and risk assessment.
• Deep understanding of the drivers of the behavior of balances/fees/losses for different products and businesses.
• Strong analytical and problem-solving skills, with an inquisitive mindset; ability to formulate insightful questions, identify model limitations, and escalate issues appropriately.
• Excellent written and verbal communication skills, including the ability to clearly explain complex quantitative concepts to both technical and non-technical stakeholders.
• Proficient programming skills in languages such as Python (or similar), with experience implementing numerical algorithms and developing model prototypes.
• Demonstrated curiosity and ownership, with a strong willingness to work collaboratively in a team-oriented environment.
• 1+ years’ experience in model development or in model review, validation, and governance within financial services, with strong understanding of stress testing models.

Preferred Qualifications, Capabilities and Skills

• Experience in stress testing exercises.

Join JPMorgan Chase to help manage risk, drive innovation, and support growth in a collaborative, forward-thinking environment.