Model Risk Governance and Review Associate for Corporate Aligned - Model Risk Program Associate

JPMorganChase; Jersey City (NJ); On-site; USD 120,000 - 180,000; Full time

Job summary

JPMorgan Chase is seeking a Model Risk Program Associate within the Corporate Aligned functions. You will assess model risks across HR, Legal, Finance and Technology, perform independent testing, develop benchmarking tools, and monitor model performance.

You will leverage technical expertise to assess conceptual validity and model interactions. You will collaborate with developers, users, and control teams to guide model usage, document processes, and present findings to stakeholders.

Qualifications

• PhD or Master’s in Mathematics, Physics, Engineering, CS, Economics or Finance is required.
• Data Science education and/or hands-on experience.
• Strong verbal and written communication with ability to interface with other functions on model issues and write high-quality technical reports.
• Deep understanding of standard statistical techniques and AI/ML methods.
• Strong analytical and problem-solving skills.
• Ability to work independently and as part of a team.
• Ability to implement benchmarking models in Python, R, or equivalent.
• Risk- and control-oriented mindset with incisive questioning and issue elevation.
• Ability to work in a fast-paced, results-driven environment.

Responsibilities

• Conduct independent model validation and governance activities to assess model soundness, focusing on statistical models and AI/ML methods.
• Provide expert judgment on model performance.
• Guide on model usage and serve as the primary contact for new models and changes.
• Develop and implement alternative model benchmarks and compare outcomes across models.
• Liaise with model developers, users, and control functions to aid discovery and provide guidance on model risk.
• Document validation processes and results, communicating findings and recommendations to stakeholders.
• Design model performance metrics and evaluate performance regularly.

Skills

Data Science

Communication skills

Statistical methods

Analytical thinking

Python

R

Benchmarking models

Independent work

Team collaboration

Adaptability to pace

Education

PhD or Master’s in a quantitative field

Tools

Python

R

Job description

Job Description

Bring your Expertise to JPMorgan Chase. As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.

Bring your Expertise to JPMorgan Chase. As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class. As a Model Risk Program Associate within the Corporate Aligned functions, you will be responsible for assessing the risks associated with models used within the Corporate Aligned functions including, but not limited to, Human Resources, Legal, Finance and Technology. You will perform independent testing, develop benchmarking tools, and monitor performance of the models. You will leverage your technical expertise and intellectual rigor to assess conceptual soundness of the models, identify and assess the emerging model risks from various component models and model-to-model interactions.

Job Responsibilities

• Conduct independent model validation and governance activities to assess model soundness, mitigate model risk with a focus on statistical model, including AI/ML (e.g. XGB, Neural Networks, Reinforcement Learning, as well as variations of Regression algorithms).
• Provide expert judgment on model performance
• Guide on model usage and act as the first point of contact for the business on all new models and changes to existing models.
• Develop and implement alternative model benchmarks and compare the outcome of various models.
• Liaise with model developers, users, and control functions to aid model discovery and provide guidance on model risk.
• Document validation processes and results, communicate findings and recommendations to stakeholders
• Design model performance metrics and evaluate model performance on a regular basis.

Required Qualifications, Capabilities, And Skills

• A PhD or Master's degree in a quantitative field such as Mathematics, Physics, Engineering, Computer Science, Economics or Finance is required.
• Data Science via education and/or hands-on experience
• Strong verbal and written communication skills, with the ability to interface with other functional areas in the firm on model-related issues and write high quality technical reports.
• Deep understanding of standard statistical techniques as well as AI/ML methods.
• Strong analytical and problem-solving skills
• Ability to work independently and as part of a team
• Ability to implement benchmarking models in Python, R, or equivalent
• Risk- and control-oriented mindset: ability to ask incisive questions, assess the materiality of model issues, and elevate issues appropriately.
• Ability to work in a fast-paced, results-driven environment.

Preferred Qualifications, Capabilities, And Skills

• Experience in model validation or risk management
• Experience with model governance frameworks
• Familiarity with generative AI models
• Advanced proficiency in programming languages
• Experience in financial services or banking

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 offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process. 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. JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans.

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.