Risk Management - Quant Modeling Director - Executive Director

JPMorgan Chase & Co.•Jersey City, NJ

2d•$204,250 - $285,000

About The Position

As a Risk Management - Quant Modeling Director - Executive Director in Model Risk Governance & Review (MRGR), you lead model validation and governance. You help us ensure models are used appropriately and support business decisions. You collaborate with diverse teams to monitor model performance and implement risk mitigation. You contribute to a culture of innovation and continuous improvement. JPMorganChase, 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. 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.

Requirements

PhD or Master’s in quantitative discipline
10+ years relevant experience, 5+ years in model development/validation for retail financial products
Leadership in model governance
Experience with CCAR regulatory requirements and other relevant regulatory requirements
Expertise in retail banking products
Risk & Control mindset
Excellent written and verbal communication skills

Nice To Haves

Experience with model validation for credit underwriting, risk management, and capital planning
Familiarity with model risk management practices
Ability to collaborate with Risk, Finance, Control, and LOB professionals
Knowledge of industry standards
Experience with automation solutions in model review
Training and mentoring skills
Strong analytical and problem-solving abilities

Responsibilities

Lead model reviews; evaluate the conceptual soundness; reasonableness of assumptions and reliability of inputs; completeness of testing; model robustness; performance metrics and risk measures associated with model use. Conduct independent testing.
Review models used in retail lending, CCAR, PPNR, and forecasting. identifying applicable regulatory requirements, including SR 26-2 and SR 15-18. Apply there requirements to model validation; assess the severity of stress projections and the support for those projections; assessing model sensitivity to assumptions and macroeconomic variables. Evaluate the reasonableness of model overlays, including rationale, methodology, and impact.
Measure model risk
Maintain model risk controls
Participate to automation adoption for model review
Stay current on industry developments
Assist in training junior team members