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

JPMorgan Chase & Co.•Jersey City, NJ

1d•$135,000 - $150,000

About The Position

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.

Requirements

A PhD or Master’s degree in a quantitative field such as Mathematics, Physics, Engineering, Computer Science, Economics or Finance is required.
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
Attention to detail and commitment to quality
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 escalate issues appropriately.
Ability to work in a fast-paced, results-driven environment.

Nice To Haves

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

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.