Model Review Group – Associate - NY

Job description

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.

Risk Management, under the direction of the Firm's CRO, provides a Firmwide independent function for the management of risk. This function provides oversight of the risks inherent in the Firm's businesses. Each line of business is responsible for decisions relating to risk strategy, policy, measurement and control within its respective business.

The Model Risk and Development Group (MRaD) provides oversight of the firmwide Model Risk policy, guidance with respect to a model's appropriate usage, and conducts independent reviews of models. In addition,MRaD develops internal models related to measurement of counterparty risk,economic risk capital, and regulatory risk capital measures.

Model Risk arises from the potential adverse consequences of making decisions based on incorrect or misused model outputs and reports, leading to financial loss, poor business decision making, or damage to the Bank"s reputation. The Model Risk Group designs and implements the model validation framework which incorporates the review of conceptual soundness, on-going model performance measurement, and model benchmarking studies.

Core responsibilities:
· Carry out the review of models used across the firm
· Assesses and helps mitigate the model risk of complex models used in the context of valuation, risk measurement, the calculation of capital, and more broadly for decision-making purposes
· Model validation includes an evaluation of conceptual soundness; designing and conducting experiments to compare a model's prediction against actual designing and monitoring model performance metrics
· MRG partners with Risk and Finance professionals and works closely with FO quants and well as traders.

Desired profile

· Advanced degree in Economics, Statistics, Physics, Sciences, Engineering or similar
· 1-2 years of experience in financial services modeling preferred
· Excellent written and oral communication skills
· Excellent analytical and problem solving abilities.
· Deep understanding of probability theory and statistics
· Programming experience in C/C++, Python or similar preferred, experience with statistical software (e.g. SAS, R) is desirable
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.