Description: Financial Institutions routinely use models for a broad range of activities including estimating fair value of assets, identifying and measuring risk, hedging derivative positions, conducting stress testing, assessing capital adequacy, etc. 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 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, Model Developers, Portfolio Managers or Quantitative Strategists, and 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 Asset and Wealth Management (AWM) line of business (LOB) of the firm. The candidate will be performing model risk management related activities for models developed and/or used by the AWM LOB, which include, but are not limited to, excess return generating models, portfolio risk management models, and portfolio construction models. The candidate will focus on the following areas on his day-to-day job: - Engage in validation activities for models in the coverage area to provide comprehensive evaluation regarding areas such as 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. - Review and opine on enhancements and extension of scope to existing models. - Keep up with the latest developments in coverage area in terms of products, markets, models, risk management practices and industry standards. - Coordinate with the New York team and stakeholders from different areas inside the firm to ensure model risk is appropriately managed. Qualifications: - Strong quantitative & analytical background based on a PhD or Master's degree (or equivalent) in a quantitative discipline such as Math, Science, Economics, Engineering, Mathematical Finance, etc. - 1 to 3 years of experience in model development and/or validation for models in asset management or derivatives, e.g. alpha generating models, portfolio construction models, securitized products, CCAR & regulatory capital, optimization, and numerical methods. - Basic understanding of the Asset and Wealth management business, investment process and investment strategies and where/how models are used as part of these activities. - Strong communication skills and ability to effectively deliver messages to other functional areas in the firm on model risk related issues. - Risk and control mindset: ability to ask incisive questions, converge on critical matters, assess materiality and escalate issues. - Able to work in a dynamic environment with competing priorities; capable of delivering high quality work with pressing timelines. 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. Note : For your candidature to be considered on this job, you need to apply necessarily on the company's redirected page of this job. Please make sure you apply on the redirected page as well.

Mumbai

JP Morgan Chase - Risk Analyst - Asset & Wealth Management Domain 

JP Morgan Chase - Risk Analyst - Asset & Wealth Management Domain  ,Job Description for JP Morgan Chase - Risk Analyst - Asset & Wealth Management Domain  in JP Morgan Chase in  Mumbai for (1-3) years of experience. Apply Now!

Job Description for JP Morgan Chase - Risk Analyst - Asset & Wealth Management Domain  in JP Morgan Chase in  Mumbai for (1-3) years of experience. Apply Now!