Risk Management - Quant Modeling Associate

JPMorgan Chase & Co.•Jersey City, NJ

23h•$118,750 - $170,000

About The Position

As a risk management quant modeling associate, you are at the center of keeping JPMorgan Chase strong and resilient. 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. MRGR is a global team of modeling experts within the firm’s Risk Management and Compliance organization. The team is responsible for conducting independent model validation and model governance activities to help identify, measure, and mitigate Model Risk in the firm. The objective is to ensure that models are fit for purpose, used appropriately within the business context for which have been approved, and that model users are aware of the model limitations and how they could impact business decisions. Being part of the MRGR team will put you at the center of the firm’s model validation and governance activities with exposure to a wide variety of model types and cutting edge modeling techniques, while frequently interacting with the best and brightest in the firm. You will expand your knowledge of the different forecasting models used in the firm, their unique limitations, and use that knowledge to help shape business strategy and protect the firm.

Requirements

Master’s degree in a quantitative field such as Math, Physics, Engineering, Statistics, Economics or Finance is required
at least one year of experience in a quantitative or modeling role.
Deep understanding of statistical/econometric models such as linear, logistics and time series models, is required
Proficiency in Python, R, or equivalent
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

Nice To Haves

Prior experience in mortgage or CRE risk model development or validation is a plus
Prior experience in financial products/markets and regulatory stress testing (CCAR/ICAAP) is a plus
Knowledge in financial market is preferred
Experience with large data sets is preferred

Responsibilities

Set standards for robust model development practices and enhance them as needed to meet evolving industry standards
Evaluate adherence to development standards including soundness of model 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 of benchmark models, 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 model usage, and (ii) the level of aggregate model risk within risk appetite