Risk - Corporate Risk - Model Risk Governance and Review - MGG Wholesale - Associate - 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, 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. - Model manager roles within MGG provide attractive career paths for model development and model validation quants in a dynamic setting working closely with Model Developers, Risk and Finance professionals, where they act as key stakeholders on day-to-day model-related risk management decisions. Core responsibilities : The successful candidate will be a member of the MGG Group covering the Risk areas such as wholesale credit risk (may also include coverage of Market Risk & other areas as need arises), and will focus on the following activities: - Engage in new model validation activities for a subset of models in the coverage area - evaluate conceptual soundness of model specification; reasonableness of assumptions and reliability of inputs; completeness of testing performed to support the correctness of the implementation; robustness of numerical aspects; suitability and comprehensiveness of performance metrics and risk measures associated with use of model. - Work on the review of Machine Learning Models employed in the Wholesale Credit Risk Space - Maintain model risk control apparatus of the bank for the coverage area & serve as first point of contact - Keep up with the latest developments in coverage area in terms of products, markets, models, risk management practices and industry standards Essential skills, experience, and qualifications: - Strong quantitative & analytical skills: The role requires a strong quantitative background based on a PhD or Masters Degree (or equivalent) in a quantitative discipline such as Math, Science, Economics, Engineering, Quantitative/Math Finance, etc. - Experience in model development and/or model validation and strong familiarity with PD/LGD & EAD Models; At least 4+ year of the following areas (preferably in Wholesale/Consumer banking): - Strong communication skills and ability to interface with other functional areas in the bank on model-related issues - Risk and control mindset: ability to ask incisive questions, converge on critical matters, assess materiality and escalate issues 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. The Apply Button will redirect you to website. Please apply there as well

Mumbai

JP Morgan Chase -  Associate - Corporate Risk/Model Risk Governance & Review - MGG Wholesale 

JP Morgan Chase -  Associate - Corporate Risk/Model Risk Governance & Review - MGG Wholesale  ,Job Description for JP Morgan Chase -  Associate - Corporate Risk/Model Risk Governance & Review - MGG Wholesale  in JP Morgan Chase in  Mumbai for (4-7) years of experience. Apply Now!

Job Description for JP Morgan Chase -  Associate - Corporate Risk/Model Risk Governance & Review - MGG Wholesale  in JP Morgan Chase in  Mumbai for (4-7) years of experience. Apply Now!