Valuation Control Model Risk - Associate

JPMorgan Chase; Poland; On-site; PLN 233,644 - 318,606; Full time

Job summary

JPMorgan Chase is seeking an Associate to join the Valuation Control Group in Poland. This role focuses on overseeing model risk, ensuring adherence to valuation policies, and collaborating with various teams to enhance risk management frameworks. Ideal candidates will have experience in model validation, strong analytical skills, and proficiency in Python, VBA, and Excel. The position offers significant exposure to senior management and involvement in diverse financial products.

Qualifications

• Experience with model validation and/or development is a strong plus.
• Knowledge and experience across financial products, models, and asset classes.
• Working knowledge of Python and/or VBA and Excel.

Responsibilities

• Oversee model risk for the Valuation Control Group.
• Review and evaluate documentation of fair value and prudent valuation adjustments models.
• Work closely with Model Review and Quantitative Research groups.
• Enhance the risk management framework for models.
• Communicate model risks to senior stakeholders.
• Develop best practice guidelines and training materials.

Skills

Model validation

Valuation control processes

Knowledge of financial products

Analytical skills

Strong communication skills

Python

VBA

Excel

Job description

Job Description

The Valuation Control Group (VCG) is an independent group within Finance whose primary responsibility is to ensure that the firm’s risk portfolios are fairly valued. The group sets independent pricing and valuation adjustments policies, executes & generates results, and then works with Trading to remediate and prevent issues on an ongoing basis. VCG also works to identify and control potential valuation risk concentrations, uncertainty in pricing inputs, and valuation model uncertainty.

The group is organized along business lines such as the Investment Bank and Consumer & Community Bank and works closely with Traders, CFOs, Market Risk, Product Control, Model Governance and Quantitative Research to ensure a complete understanding of business issues and the accurate execution of valuation policy. The group plays a critical role within the Firm and has exposure to senior management, Business heads, Regulators, and both internal and external audit.

VCG is looking to hire an Associate (601/602) to specialize in model risk and drive the model risk agenda for the group, including documentation and review of fair value and prudent valuation methodologies and assessment of mitigants and compensating controls for associated model risks.

Job Responsibilities

• Assists in overseeing model risk for the Valuation Control Group through the tracking of model limitations, ongoing model performance metrics and independent testing of model risk mitigants and compensating controls for fair value and prudent valuation adjustment models.
• Creates, reviews and evaluates documentation of fair value and prudent valuation adjustments models across a broad set of products for consistency and adherence to the firm’s model development and review standards.
• Works closely with Model Review and Quantitative Research groups and model owners during review and approvalcycles, to resolve queries and ensureadherence to the firm’s model risk management controls.
• Introduces enhancements to the strategic target state risk management framework for fair value and prudent valuation adjustments models.
• Summarizes and communicate model risks to senior stakeholdersin a clear and concise manner.
• Develops best practice guidelines and training materials related to Model Risk Management.

Required Qualifications, Capabilities, and Skills

• Experience with model validation and/or development is a strong plus.
• Experience of valuation control processes is desirable but not a requirement.
• Knowledge and experience across financial products, models, and asset classes.
• Analytical, quantitative aptitude and attention to detail.
• Strong verbal and written communications skills to interface with a wide variety of functional areas.
• Ability to ask incisive questions, converge on critical matters, assess materiality and elevate issues.
• Working knowledge of Python and/or VBA and Excel.

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.