Risk Management - Quant Modeling Lead - Vice President

JPMorganChase; New York (NY); On-site; USD 130,000 - 180,000; Full time

Benefits offered by this job

Comprehensive health care coverage

Tuition reimbursement

Mental health support

Job summary

JPMorgan Chase in New York is hiring a Quant Model Risk Vice President to assess complex models and mentor the team. In this role, you'll conduct thorough reviews of pricing models, ensuring compliance and suitability. An advanced degree in a quantitative field is required, along with deep knowledge of option pricing theory and strong programming skills in languages such as C/C++ or Python. The position offers a chance to contribute to high-impact projects with a focus on innovation and collaboration.

Qualifications

• Advanced degree in mathematics, statistics, financial engineering, or related field.
• Knowledge of stochastic processes and numerical analysis.
• Expertise in financial modeling and risk assessment.

Responsibilities

• Review complex credit, interest rate, and equity pricing models.
• Evaluate model behavior and suitability for applications.
• Develop and maintain model performance metrics.
• Ensure models comply with internal and regulatory standards.
• Serve as primary point of contact for new model implementations.
• Liaise with model developers and risk management.
• Mentor junior team members.

Skills

Advanced degree in a quantitative discipline

Advanced knowledge of probability theory

Deep understanding of option pricing theory

Strong analytical and problem-solving skills

Excellent written and verbal communication skills

Proficient programming skills in C/C++ or Python

Experience in front office model development

Education

Advanced degree (MSc, PhD, or equivalent)

Job description

Job Description

Bring your expertise to JPMorgan Chase. As part of Risk Management and Compliance, you play a crucial role in maintaining JPMorgan Chase's strength and resilience. 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.

Quant Model Risk Vice President

As a Quant Model Risk Vice President in the Model Risk Governance and Review team, you will be responsible for assessing and mitigating the risks associated with complex models used for valuation, risk measurement, capital calculation, and decision-making purposes. You'll be at the forefront of innovation, driving continuous improvement in a dynamic and collaborative environment. This role also provides the opportunity to gain exposure to various business and functional areas, as well as collaborate closely with model developers and users. You will also have managerial responsibility to oversee, train and mentor junior members of the team.

Job Responsibilities

• Perform thorough reviews of complex credit, interest rate, and equity pricing models, including valuation engines and reserve methodologies. Analyze the conceptual soundness, model design, and appropriateness of models for specific products and structures.
• Evaluate model behavior and ensure the suitability of pricing models and engines for their intended applications, identifying potential limitations and areas for improvement.
• Develop and implement alternative model benchmarks. Design and maintain robust model performance metrics to compare and monitor the outcomes of various models.
• Continuously evaluate model performance, ensuring models remain fit for purpose and compliant with internal and regulatory standards. Recommend enhancements and oversee remediation where necessary.
• Serve as the primary point of contact for the business regarding new model implementations and changes to existing models. Provide expert guidance on model usage, limitations, and governance requirements.
• Liaise effectively with model developers, Risk, and Valuation Control Groups. Offer guidance and support on model risk management, validation standards, and regulatory expectations.
• Manage and develop junior team members, providing mentorship, guidance, and support to foster their professional growth and enhance overall team performance.

Required Qualifications, Capabilities and Skills

• Advanced degree (MSc, PhD, or equivalent) in a quantitative discipline such as mathematics, statistics, financial engineering, or related field.
• Advanced knowledge of probability theory, stochastic processes, statistics, partial differential equations, and numerical analysis, with demonstrated ability to apply these concepts to financial modeling and risk assessment.
• Deep understanding of option pricing theory and quantitative models for pricing and hedging derivatives, including familiarity with stochastic calculus and risk‑neutral valuation.
• Strong analytical and problem‑solving skills, with an inquisitive mindset and the ability to formulate insightful questions, identify model limitations, and elevate issues appropriately.
• Excellent written and verbal communication skills, with the ability to clearly explain complex quantitative concepts to both technical and non‑technical stakeholders.
• Proficient programming skills in languages such as C/C++, Python, or similar, with experience implementing numerical algorithms and developing model prototypes.
• Demonstrated curiosity and ownership, with a strong willingness to work collaboratively within a team‑oriented environment.
• Extensive experience in front office model development or in model review, validation, and governance within financial services, with a strong understanding of credit, interest rate, and equity pricing models.

Benefits

We offer a competitive total rewards package, including base salary determined based on the role, experience, skill set and location. Eligible roles may receive commission‑based pay and/or discretionary incentive compensation paid in cash or forfeitable equity. Additional 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. 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 Us

JPMorgan Chase, 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.

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.