JP Morgan Chase - Associate - Model Risk Policies & Governance

As part of MRGR, the central Policy and Governance team associate will facilitate maintaining the groups governing policies and procedures, while working on consistency, best practices, and improvements to our processes.

Job summary:

Financial Institutions routinely use models for a broad range of activities including credit underwriting, valuing financial instruments, measuring and managing risk , assessing the adequacy of reserves and capital resources, and many other applications. Model Risk arises from the potential adverse consequences of making decisions based on incorrect or misused model outputs and reports, leading to financial loss, poor business decision making, or reputational damage.

The Model Risk and Governance Group (MRGR) is responsible for conducting model validation to help identify, measure, and mitigate Model Risk. The objective is to ensure that models are used appropriately in the business context and that model users are aware of the models' strengths and limitations and how these can impact their decisions.

MRGR carries out model validation activities and works closely with Risk, Finance and LOB professionals to review findings, on-going model risk measurement and risk mitigating strategies.

As part of MRGR, the central Policy and Governance team is in charge of maintaining the groups governing policies and procedures, while working on consistency, best practices, and improvements to our processes.

Core responsibilities:

The successful candidate will be a member of the central Policy and Governance team and will work on cross-LOB governance activities and efforts relating to model risk management and process enhancements.

This person should be able to manage multiple projects and tasks simultaneously and be flexible to work outside of the defined position as needed.

Effectively communicate and manage project expectations to program managers, sponsors, team members and other stakeholders in a clear and concise fashion

Proactively manage project plans to ensure target dates are on track

Track, manage, and follow up on issues and action items raised in regular meetings

Update relevant model procedures as needed

Respond to requests on audit/regulatory exams

Essential skills, experience, and qualifications:

Relevant experience in project management preferably on risk management, quantitative research processes, model development process or model validation process or regulatory deliverables

Bachelors, MBA or Master's degree in Business or Finance, Math, Sciences, Engineering or Computer Science with 3 + years of experience

Excellent analytical and problem-solving skills

Excellent organizational and project management skills

Ability to manage multiple complex projects and tasks within given timelines

Familiarity with software, such as MS Office Suite incl. Excel, Visio, SharePoint, etc. and ability to navigate systems and technology tools independently

Basic programming experience is a plus.

Excellent communication skills (written and verbal).

Risk & Control mindsets : Inquisitive nature, ability to ask right questions and escalate issues.

Knowledge of financial modeling (e.g., probability theory, statistics, numerical analysis) or financial products (e.g. Derivatives, loans, payments, cards.) is a plus

Ability to work during EMEA/NY working hours.