JP Morgan Chase - Analyst - Risk Model Validation

JP Morgan - Analyst - Risk Model Validation

- Model Risk Governance & Review (MRGR) Central Challenger Team (CCT) Corporate Investment Banking - Analyst

- JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.

- Model Risk Governance & Review (MRGR) is a Corporate Risk team within JPMC with the responsibility for developing and implementing the Firmwide Model Risk Management (MRM) framework across the firm.

- The Central Challenger team within MRGR has a firm-wide purview for independently reviewing and approving Qualitative Models in accordance with the Firm's Policies and Standards.

Job Summary :

- Review of qualitative models developed primarily within the Investment Bank and Chief Investment Office for the Firm's Capital Stress Testing, Resolution planning, Risk Management and other processes. This includes the review of -

- Key financial estimations and management judgments, including those related to capital measurement, stress testing & reporting, product valuation, and other high priority processes

- Key assumptions and pro-forma financial results across material entities, primarily in the context of the Firm's Resolution and Recovery process.

Core Responsibilities :

- Review qualitative estimations relying on statistical and judgmental components

- Apply in-depth understanding of the drivers of the behavior of balances/fees/losses of different products and businesses using a combination of research and liaising with business lines.

- Develop independent benchmarks to challenge LOB results (Statistical modeling experience is considered a strong plus)

- Stay abreast of macroeconomic, regulatory and industry landscape and bring this to bear in benchmarking analysis

- Maintain knowledge of capital markets products/market risk concepts and their applications in forecasting

- Identify innovation opportunities to enhance forecast effectiveness and efficiency

- The team partners with the Corporate Capital Stress Testing team, Recovery & Resolution team, Lines of Business, Regulatory Policy, Financial Reporting, Quantitative Research and various other Finance and Risk teams on various firm-wide initiatives.

- The individual will acquire invaluable insights into the key drivers of all businesses at JPM. The work involves partnering with Corporate and LOB functions, contributing to financial and quantitative analysis, and creating presentations for senior management in their discussions with the Capital Governance and Operating Committee, the Board of Directors, and regulators.

- The position involves interaction with many teams across finance and risk, lines of business (front/middle/back office) and reporting groups. The ability to work efficiently and communicate effectively across these boundaries will be one of the keys to success.

- The specific role and responsibilities of the successful candidate will evolve based on qualifications, prior experience and demonstrated skills.

- 0 - 3 years of experience in banking / financial services industry (candidates limited practical experience, but outstanding academic achievement will be considered)

- Advanced degree in Finance, Engineering, Economics, Math/Statistics or related quantitative discipline (candidates with no advanced degree but strong practical experience will be considered)

- Strong quantitative, analytical skills and flair for independent research & problem solving

- Knowledge of financial products/markets and regulatory requirements

- Strong writing, organizational, communication and negotiation skills

- Self-starter who is able to perform effectively in a fast paced, results driven environment

Additional qualifications/experience considerations :

- Background or experience with various models (including pricing, capital, and/or financial forecasting models) and the model development and maintenance life cycle.

- Experience in statistical modeling software is a plus. Strong Excel skills (Python/R coding experience is a plus), proficient in MS Office

- Experience with and knowledge of regulatory capital rules (Basel and CCAR)