Risk - Corporate Risk - Model Risk Governance and Review - MGG VaR - Associate Job Description : Job summary: 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 Front Office Trading Desks, Desk Quants or 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 Market Risk (may also include coverage of wholesale credit risk and other risk areas as the 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. - Perform additional model review activities ranging from proposed enhancements to existing models, extensions to scope of existing models, use of approximate bookings, to providing transaction-specific approvals. - Liaise with Trading Desk, Risk and Finance professionals to provide oversight of and guidance on appropriate usage, controls around model restrictions & limitations, and findings for ongoing performance assessment & testing - 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. - Domain expertize in the relevant areas such as the following: Market Risk capital models including VaR Models, Derivatives pricing models, CCAR Models, Regulatory/Economic Capital Models, probability theory, econometrics, statistics, and numerical methods - Prior experience in following backgrounds: Quantitative Model Development, Model Validation, Trading or Structuring, Market/Credit Risk Management - Strong communication skills and ability to interface with other functional areas in the bank on model-related issuesRisk and control mindset: ability to ask incisive questions, converge on critical matters, 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. The link provided below will redirect you to a website. Please apply there as well.

Maharashtra

Mumbai

JP Morgan Chase - Associate - Model Risk Governance & Review - Var - MGG 

JP Morgan Chase - Associate - Model Risk Governance & Review - Var - MGG  ,Job Description for JP Morgan Chase - Associate - Model Risk Governance & Review - Var - MGG  in JP Morgan Chase in  Maharashtra Mumbai for (4-5) years of experience. Apply Now!

Job Description for JP Morgan Chase - Associate - Model Risk Governance & Review - Var - MGG  in JP Morgan Chase in  Maharashtra Mumbai for (4-5) years of experience. Apply Now!