JP Morgan Chase - Analyst - Corporate Risk/Model Risk Governance & Review (4-7 yrs)
Risk - Corporate Risk - Model Risk Governance and Review - Rates - Analyst
Job Description :
Financial Institutions routinely use models for a broad range of activities including analyzing business strategies, informing business decisions, identifying and measuring risk, valuing exposures or instruments, hedging derivative positions, conducting stress testing, assessing capital adequacy, managing clients assets, informing investment process, measuring compliance with internal limits, maintaining the formal control apparatus of the bank, meeting financial or regulatory reporting requirements and issuing public disclosures. 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.
- As part of the firm's model risk management function, the Model Governance Group (MGG) is charged with developing model risk policy and control procedures, performing model validation activities, providing guidance on a model's appropriate usage in the business context, evaluating ongoing model performance testing, and ensuring that model users are aware of the model strengths and limitations.
The successful candidate will focus on the following activities:
- Perform assessments of the conceptual soundness of model specification, the appropriateness of the methodology for its intended purpose, reasonableness of assumptions and reliability of inputs
- Assess completeness of testing performed to support the correctness of the implementation
- Assist with model identification process, assessing whether newly identified methodologies should be in scope of the model risk policy
- Work with model developers and model users across the firm to understand methodology and usage
- Liaise with other Model Governance groups in relevant coverage areas across the firm
Essential skills, experience, and qualifications:
The successful candidate will have the following skills, experience, and qualifications:
- Quantitative background ideally with a Master's degree in Maths, Science, Engineering, Statistics, Quant Finance etc
- Strong quantitative, analytical, and problem solving skills; knowledge of probability theory, statistics, mathematical finance, econometrics, numerical methods
- Knowledge of finance industry, particularly in modeling- valuation, risk, capital, forecasting, investment management
- Experience in model validation and/or model development preferred
- Strong communication and interpersonal skills
- Strong project management and organizational skills; ability to multi-task and meet deadlines
- Ability to work independently, with remote supervision
- Risk and control mindset: ability to ask incisive questions, assess materiality and escalate issues
About Us :
- JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
- We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants- and employees- religious practices and beliefs, as well as any mental health or physical disability needs.
About the Team :
- Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we- re setting our businesses, clients, customers and employees up for success.
- Risk Management helps the firm understand, manage and anticipate risks in a constantly changing environment. The work covers areas such as evaluating country-specific risk, understanding regulatory changes and determining credit worthiness. Risk Management provides independent oversight and maintains an effective control environment.
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