Risk Management - Quant Modeling Program Associate

Risk Management Quant Modeling Program Associate

As part of Risk Management and Compliance, you help keep JPMorgan Chase strong and resilient. You support the firm’s responsible growth by anticipating new and emerging risks and applying expert judgment to solve real-world challenges impacting the firm, its customers, and communities. The culture in Risk Management and Compliance emphasizes thinking outside the box, challenging the status quo, and striving to be best-in-class.

MRGR is a global team of modeling experts within the Risk Management and Compliance organization. The team is responsible for independent model validation and model governance activities to help identify, measure, and mitigate Model Risk. The objective is to ensure models are fit for purpose, used appropriately within the business context for which they have been approved, and that model users understand model limitations and how they may impact business decisions.

As part of MRGR, you will be at the center of the firm’s model validation and governance activities, with exposure to a wide variety of model types and advanced modeling techniques. You will frequently collaborate with experienced professionals across the firm.

Job Responsibilities

• Set standards for robust model development practices and enhance them as needed to meet evolving industry standards
• Evaluate adherence to development standards, including the soundness of model design, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, and suitability of performance metrics
• Identify weaknesses, limitations, and emerging risks through independent testing, building of benchmark models, and ongoing monitoring activities
• Communicate risk assessments and findings to stakeholders and document in high-quality technical reports
• Assist the firm in maintaining (i) the appropriateness of ongoing model usage and (ii) the level of aggregate model risk within risk appetite

Required Qualifications, Skills, and Capabilities

• Master’s degree in a quantitative field such as Math, Physics, Engineering, Statistics, Economics, or Finance
• At least one year of experience in a quantitative or modeling role
• Deep understanding of statistical/econometric models such as linear, logistic, and time series models
• Proficiency in Python, R, or equivalent
• Strong communication skills, verbally and particularly in writing, with the ability to interface with other functional areas on model-related issues and write high-quality technical reports

Preferred Qualifications, Skills, and Capabilities

• Prior experience in mortgage or CRE risk model development or validation
• Prior experience in financial products/markets and regulatory stress testing (CCAR/ICAAP)
• Knowledge of financial markets