Risk Management - Model Risk Program Associate

JPMorganChase; Jersey City (NJ); On-site; USD 50,000 - 115,000; Full time

Job summary

Join a leading financial institution as a Risk Management - Model Risk Program Associate, where you will conduct independent model validation to mitigate risks. With 2+ years of modeling experience and strong communication skills, you will influence firm strategy and governance while collaborating with top professionals. Competitive rewards and comprehensive benefits await you.

Qualifications

• 2+ years of experience in a business modeling role.
• Strong communication skills verbally and in writing.
• Ability to interface with other functional areas on model-related issues.

Responsibilities

• Set standards for robust qualitative model development practices.
• Evaluate adherence to development standards and documentation.
• Identify weaknesses, limitations, and emerging risks through testing.

Skills

Strong communication skills

Risk and control mindset

Understanding of Python

Understanding of R

Understanding of statistics

Machine learning techniques

Education

Undergraduate or Master’s degree in business, finance, economics or accounting

Job description

Join to apply for the Risk Management - Model Risk Program Associate role at JPMorganChase

Join to apply for the Risk Management - Model Risk Program Associate role at JPMorganChase

Job Description

Join JPMorgan Chase's Risk Management and Compliance team, where your expertise will help us anticipate and navigate emerging risks. As part of the Model Risk Governance and Review (MRGR) team, you'll conduct independent model validation and governance activities to mitigate Model Risk. This role offers exposure to a variety of modeling techniques and frequent interaction with top professionals in the firm. Your knowledge will be instrumental in shaping business strategy and safeguarding the firm. they could impact business decisions.

Job Description

Join JPMorgan Chase's Risk Management and Compliance team, where your expertise will help us anticipate and navigate emerging risks. As part of the Model Risk Governance and Review (MRGR) team, you'll conduct independent model validation and governance activities to mitigate Model Risk. This role offers exposure to a variety of modeling techniques and frequent interaction with top professionals in the firm. Your knowledge will be instrumental in shaping business strategy and safeguarding the firm. they could impact business decisions.

As a Risk Management - Model Risk Program Associate within the Risk Management and Compliance team, you will be at the center of keeping JPMorgan Chase strong and resilient. You will 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. Being part of the Model Risk Governance and Review (MRGR) team, you will be involved in independent model validation and governance activities, helping to identify, measure, and mitigate Model Risk in the firm. This role offers you the opportunity to expand your knowledge of different modeling techniques, their unique limitations, and use that knowledge to shape business strategy and protect the firm.

Job Responsibilities

• Set standards for robust qualitative model development practices and enhance them as needed to meet evolving industry standards
• Evaluate adherence to development standards including soundness of design, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, and suitability of performance metrics
• Identify weaknesses, limitations, and emerging risks through independent testing, building benchmarks, and ongoing monitoring activities
• Communicate risk assessments and findings to stakeholders, and document in high quality technical reports
• Assist the firm in maintaining (i) appropriateness of ongoing qualitative model usage, and (ii) the level of aggregate model risk within risk appetite
  
  

Required Qualifications, Capabilities And Skills

• Undergraduate or Master’s degree in business, finance, economics or accounting.
• 2 plus years of experience in a business modeling role. Candidates with significantly more experience may be considered for more senior roles
• Strong communication skills verbally and particularly in writing, with the ability to interface with other functional areas in the firm on model-related issues and write high quality technical reports
• Risk and control mindset: ability to ask incisive questions, assess materiality of model issues, and escalate issues appropriately
• Understanding of Python, R, or equivalent
• Understanding of statistics and machine learning techniques
  
  

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.

Seniority level

• Seniority level

  Not Applicable

Employment type

• Employment type

  Full-time

Job function

• Job function

  General Business, Management, and Business Development

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