Model Risk Associate

JPMorganChase; Mumbai; On-site; INR 1,800,000 - 3,000,000; Full time

Job summary

A leading financial institution in Mumbai seeks a professional in model risk management to evaluate complex pricing models and develop benchmarks. The ideal candidate has a background in quantitative fields and expertise in programming languages such as Python and SQL. This role provides exposure to various business areas while contributing to decision-making processes. Join a dynamic team committed to innovation and collaboration.

Qualifications

• 3-5 years of experience for Bachelor's, 2-4 years for Master's, or 0-2 years for PhD in quantitative models for derivatives.
• Excellence in probability theory, stochastic processes, statistics, and numerical analysis.
• Excellence in probability theory, stochastic processes, statistics, and numerical analysis.
• Strong understanding of option pricing theory and quantitative models for derivatives.
• Experience with Monte Carlo simulation and numerical methods; familiar with calibration techniques and performance benchmarking.
• Clear written/verbal communication; ability to articulate technical issues to diverse stakeholders.

Responsibilities

• Assess the conceptual soundness of complex pricing and market making models.
• Develop and implement alternative model benchmarks and performance tests.
• Liaise with developers and risk professionals on model risk.
• Maintain model risk control apparatus.

Skills

Analytical problem-solving skills

Strong communication skills

Python programming

SQL proficiency

C/C++ programming

Education

Bachelor’s, Master’s or PhD in a quantitative field

Tools

Python

SQL

C/C++

Job description

Overview

Are you ready to make a significant impact in the world of model risk management? At the Model Risk Governance and Review Group (MRGR), we are at the forefront of assessing and mitigating model risk across the globe. With a presence in major financial hubs such as New York, London, Mumbai, Hong Kong, and Paris, our team collaborates with top professionals in Risk, Finance, and Model Development. This is your chance to work in a dynamic environment, gain exposure to various business areas, and contribute to critical decision-making processes.

Responsibilities

• Assess the conceptual soundness of complex pricing and electronic market making models.
• Develop and implement alternative model benchmarks and performance tests.
• Liaise with model developers, trading desks, and risk professionals to provide guidance on model risk and usage.
• Maintain model risk control apparatus and serve as the first point of contact for the coverage area.

Required Qualifications, Capabilities, And Skills

• Education: Bachelor’s, Master’s or PhD in a quantitative field (e.g., Mathematics, Statistics, Computer Science, Engineering, Physics).
• Bachelor’s degree with 3–5 years, Master’s degree with 2–4 years, or PhD with 0–2 years of experience in quantitative models for derivatives and/or electronic market making.
• Excellence in probability theory, stochastic processes, statistics, and numerical analysis.
• Strong understanding of option pricing theory and quantitative models for derivatives.
• Experience with Monte Carlo simulation and numerical methods, familiarity with calibration techniques and performance benchmarking.
• Strong analytical problem-solving skills and clear written/verbal communication, ability to articulate technical issues to diverse stakeholders.
• Proficiency in Python, SQL and C/C++ programming.
• Curious, ownership-driven, and teamwork-oriented mindset.

Preferred Qualifications, Capabilities And Skills

• Prior model validation or front‑office quant experience in pricing, risk, or electronic market making models.

About Us

JPMorganChase, 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. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.