Risk Management - Model Risk Program Associate

JPMorgan Chase & Co. • Jersey City, NJ

5h

About The Position

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. Your knowledge will be instrumental in safeguarding the firm from decisions based on unreliable model outputs and ensuring robust model risk management practices.
As an associate in the Model Risk Governance and Review team (CIB Wholesale Payments and Data Science), you will participate in independent model validation and governance activities, helping to identify, assess, and reduce model risk in the firm. This position offers hands-on experience with diverse modeling approaches while keeping you up to date on the latest developments in products, AI/ML models, Generative AI, and risk management practices.

Requirements

• Strong quantitative and analytical skills: The role requires a strong quantitative background based on a Master or PhD Degree in a quantitative discipline such as Math, Statistics, Economics, Finance, Engineering, or related fields
• 2 plus years of experience in model validation, model development, quantitative analysis, or a related analytical role in financial services or a similar industry.
• Strong communication skills, with the ability to present complex concepts to both technical and non-technical audiences. Risk and control mindset: ability to ask incisive questions, assess materiality of model issues, and escalate issues appropriately
• Strong foundation in statistics, with hands-on experience applying statistics and machine learning techniques, including Regression, Boosted Trees, Neural Networks, Support Vector Machines (SVM), and Large Language Models such as BERT.
• Proficiency in Python, with hands-on experience using libraries for data analysis, machine learning, and working with LLM frameworks and APIs
• Experience with Generative AI applications, including Large Language Models, prompt engineering, RAG architectures, and building agentic AI systems.

Responsibilities

• Conduct independent model validation and governance activities to mitigate model risk across a diverse portfolio, including CIB Wholesale Payments, CIB Fraud, Marketing, and Operations models.
• Engage in model validation activities and evaluate adherence to development standards including conceptual 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 high quality technical reports
• Assess and determine whether tools and applications qualify as models under the firm's model risk framework, distinguishing between models, analytical tools, and non-model applications
• Liaise with Risk and Finance professionals to provide oversight and guidance on appropriate usage, controls around model restrictions and limitations, and findings for ongoing performance assessment and testing
• Design, build, and test LLM-based use cases to enhance MRGR processes and improve operational efficiency

Benefits

• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level