JP Morgan Chase - Associate - Model Risk Governance & Review - Central Challenger Team - Corporate/Investment Banking

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

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

- Models that are developed within various lines of business (LOBs) for the Firm's Capital Stress Testing, Budget Forecasting and Resolution & Recovery, and Risk Appetite processes. It also includes developing independent statistical models/analytical frameworks to challenge LOB results.

- This role is within CIB/CIO (Corporate & Investment Banking/Chief Investment Office) pillar who does the Model Validation/Model Review of stress testing models used by Investment Banking and Treasury lines of businesses.

- 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.

Job Summary:

- 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.

Core Responsibilities:

- Conducting independent assessment of the firm's capital stress test forecasting methodologies, Budget Forecasting, Resolution & Recovery, and Risk Appetite processes - 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 estimations 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, budget, 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:

- Model risk experience / knowledge in IB and Treasury products and services / understanding of various risk stripes like market risks, counterparty credit risks, etc. / experience in modeling like PPNR, RWA, etc. / Statistical and Quantitative background - experience in one or many said areas is desired

- Master or bachelor's degree in finance, risk management, statistics, economics, or MBA (undergraduate in a quantitative discipline such as Mathematics, Statistics, Engineering, or related quantitative field is highly desired) from a reputed institute.

- 3-6 years of relevant experience in banking / financial services / analytics industry

- Experience and strong knowledge in market risk, capital market, stress testing and regulatory rules (Basel, CCAR, ICAAP)

- 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 (Python/R coding experience 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

Additional qualifications considered plus

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

Certifications such as FRM, CFA, CQF, etc.