JP Morgan Chase - Risk Analyst - Model Risk Governance & Review - MGG Legal Entity Team (2-5 yrs)
Risk - Model Risk Governance and Review - MGG Legal Entity Team - Analyst
- 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, the 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, being a first point of contact on model risk related issues for regulators and internal audit, 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 in a dynamic setting working closely with External Regulators, Model Developers and Risk and Finance professionals, where they act as key stakeholders on day-to-day model-related risk management decisions.
The successful candidate will become a member of the global Legal Entity MGG team with following responsibilities:
- Contribute to enhancements to global the legal entity model governance framework of MGG.
- Support the MGG contributions to key EMEA projects and regulatory deliverables;
- Support the MGG contributions to model risk committees and forums to ensure that the appropriate governance is in place;
- Liaise with Risk and Finance professionals to provide oversight of and guidance on appropriate usage, controls around model restrictions & limitations, and findings for model reviews and ongoing performance assessment & testing;
- 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 :
- Prior experience in following roles would be desirable: Model Governance, Model Validation, Model Development
- Domain expertise in following areas would be a desirable: stress testing modelling and regulatory/economic capital modelling
- Strong quantitative & analytical skills: ability to understand and discuss model risk related issues.
- Ability to read and interpret supervisory statements and regulatory policy
- Risk and control mindset: ability to ask incisive questions and make risk based judgement calls
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.
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