JP Morgan Chase - Associate - Model Risk Governance & Review - Central Challenger Team (6-8 yrs)
Model Risk Governance & Review (MRGR) - Central Challenger Team (CCT) - QM Reviews - Associate
Model Risk Governance and Review (MRGR) is responsible for review and maintenance of estimation methodologies across the firm.
The Central Challenger team (CCT) within MRGR has a firm-wide purview for independently assessing and driving improvements in the following areas:
Qualitative models (QMs) developed within various lines of business (LOBs) for the Firm's Capital Stress Testing, Budget Forecasting and Resolution & Recovery processes. It also includes developing independent statistical models/analytical calculators to challenge LOB results.
The team partners with the Corporate Capital Stress Testing team, Recovery & Resolution team, LOBs, Regulatory Policy, Financial Reporting, Economic Scenarios, Quantitative Research and various other Finance and Risk teams on various firm-wide initiatives.
The primary role of Central Challenger is to (i) constructively challenge and improve existing forecasting methodologies used across the Firm and (ii) review implementation accuracy and soundness of financial calculations. The Associate will support Pillar Leads on qualitative model reviews. Ability to think critically, take ownership of the review process and communicate effectively (both spoken and written) are critical to this role.
The individual will cater to CIB/CIO (Corporate & Investment Banking/Chief Investment Office) business, and will be responsible for conducting reviews to evaluate the suitability and soundness of QMs under the guidance of SR11-7 and SR15-18 regulatory letter for CCAR/ICAAP/DFAST stress testing submission. This role would require reasonable amount of knowledge in statistics and financial modelling, and products and services within CIB/CIO business - like Equity Capital Markets, Global Investment Banking, Corporate Finance Advisory, Mergers & Acquisitions, Origination & Debt Capital Markets, Global Trade & Loan products, Wholesale Payments, Security Services, etc.
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 role and responsibilities of the successful candidate will be determined based on qualifications, prior experience and demonstrated skills.
- Conducting independent assessment of the firm's capital stress test forecasting methodologies, Budget Forecasting, Resolution & Recovery, and Risk Appetite processes (QMs) - both qualitative and quantitative assessment on inputs, assumptions, methodology, outputs, analysis, documentation, etc.
- Reviewing model implementation in model validation lifecycle - through technical and design assessment - to make sure the calculations are in line with model methodologies
- Work with the Review Leads to independently review/lead and challenge key estimation methodologies and analytics/tools for firm-wide capital stress testing, resolution & recovery, budgeting and risk appetite processes
- Review documentation of estimations and write assessment reports
- Interact with teams across Finance and Risk functions, lines of business (front/middle/back office) and reporting groups.
- Stay abreast of regulatory and industry requirements in finance/risk/accounting to manage reviews and changes in processes
- Develop analytical tools to challenge forecasting methodologies/estimation approaches
- Develop expertise across a broad spectrum of financial products & services (retail, wholesale and capital markets)
- Report and present plans, status and findings to various stakeholders and business leaders
Qualifications and Skills
- Graduate degree in finance, risk management, economics or MBA (undergraduate in a quantitative discipline such as Mathematics, Statistics, Engineering, or related quantitative field is highly desired) from top tier institutes like IIM/IIT/NIT etc.
- 6-8 years of experience in banking / financial services / analytics industry
- Experience and strong knowledge in market risk, capital market, stress testing and regulatory rules (Basel, CCAR, ICAAP)
- Reasonable knowledge of products and services in CIB/CIO business as mentioned in the job summary
- The candidate must be a self-starter who is able to work in a fast paced and results driven environment
- Strong quantitative, analytical, and problem solving skills
- Strong Excel skills (VBA / SQL is a plus), proficient in MS Office
- Outstanding presentation, reporting and communication skills
- Strong organizational, communication (verbal and written) and negotiation skills
- Risk Management and Control mind-set (ability to identify control gaps and/or issues)
- Inquisitive and intellectually curious, extreme attention to detail
Qualifications considered an additional plus
- 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 modelling software (SAS, R, Matlab, etc.) and/or valuation experience
- Certifications such as FRM, CFA, etc.
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.
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