Associate at J.P. Morgan
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JP Morgan - Associate - Model Risk Governance & Review (3-8 yrs)
Model Risk Governance & Review - Associate
The Model Risk Governance and Review Group (MRGR) provides oversight of the firm wide Model Risk policy, guidance with respect to a model's appropriate usage, and conducts independent reviews of models across the firm. MRGR is composed of four distinct units: Model Review Group, Model Governance Group, Central Challenger Team and the Chief Operating Officer group.
- Model Review Group (MRG) serves as an independent model validation function that reviews and approves a wide range of models, including risk management, valuation, and certain regulatory capital models used by the firm.
- Model Governance Group (MGG) is responsible for day-to-day management of model risk, such as ensuring that models are governed by the appropriate policies and procedures, that they are subject to performance review, and that their use includes appropriate operating controls (e.g., access, change control).
- Central Challenger Team (CCT) reviews and approves the use of key financial estimations and calculations through NMEM reviews, UT reviews and Confirmation Benchmarking across Lines of Business (LOBs) and functions.
- The Chief Operating Officer office is tasked with coordination, planning, and execution of regulatory, control, audit, and corporate risk initiatives and deliverables.
Position Overview :
The person in this role will assist an Executive Director within the Chief Operating Officer office. This person will work on long term projects relating to model risk process enhancements and manage model review and project timelines. In addition this person will aid in managing timelines for regulatory initiatives and deliverables. This person should be able to manage multiple projects and tasks simultaneously and be flexible to work outside of the defined position overview as needed.
- Responsible for but not limited to model confirmation and model status assessment processes
- Work with all levels across MGG contact groups on various projects
- Update relevant model procedures
- Track, manage, and follow up on issues and action items raised in regular meetings
- Proactively manage project plans to ensure target dates are on track
- Respond to requests on audit/regulatory exams
- Effectively engage control officers, MGG, MRG and Senior Management, as appropriate
- Undergrad, MBA or Master's degree in Business or Finance, Math, Sciences, Engineering or Computer Science with 3 years of experience
- Excellent analytical, quantitative and problem-solving skills
- Excellent organizational and project skills
- Excellent communication skills
- Ability to manage multiple complex projects and tasks within given timelines
- Excellent computer skills: MS Office (esp. Excel) is a requirement and basic programming experience is a plus
- Knowledge of financial modeling (e.g., probability theory, statistics, numerical analysis) is plus but is not required
- Knowledge of finance, such as options pricing is a plus but is not required