Risk Management - Quant Modeling Lead - Vice President

JPMorgan Chase & Co. • Jersey City, NJ

8h

About The Position

Bring your Expertise to JPMorgan Chase. As part of Risk Management and
Compliance, 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.

The Quant Modeling Lead – Vice President position within MRGR provides an
attractive career paths in a dynamic setting working closely with Model
Developers, Users, Risk and Finance professionals. MRGR team members act as key
stakeholders on day-to-day model-related risk management decisions.

JPMorgan Chase’s Model Risk Governance and Review (MRGR) is a global team of
modeling experts. 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 they have
been approved, and that model users are aware of the model limitations and how
they could impact business decisions.

Requirements

• PhD or Master Degree in Statistics, Economics (with a focus on Econometrics), Data Science, Computer Science, Operations Research, Physics, Engineering, Applied Math or a quantitative science. In depth knowledge of probability theory, econometrics, statistics, numerical methods and machine learning, as well as experience with advanced AI/ML techniques.
• 5+ years prior experience in model development, model validation or quantitative research in financial institutions. Ability to conduct model validation end-to-end as an individual contributor.
• Ability to ask incisive questions, assess issues and risks’ materiality. Inquisitive nature and strong analytical & problem solving abilities.
• Knowledge of consumer banking; ability to understand the business and the regulation surrounding the business.
• Verbal and written; ability to interface with stakeholders on model-related issues, write clear model validation reports; create presentations on model validation topics.
• Proficient in statistical programming language such as Python or R; experienced in dealing with large data sets.

Responsibilities

• Focus on the review and risk governance of forecasting and scoring models (including models developed using traditional statistical methods as well as advanced AI/ML techniques) and used by Consumer and Community Banking (CCB) for stress testing, risk and regulatory capital measurement, allowance determination, new origination, etc.
• Lead and engage in model validation activities, including (a) evaluate models’ conceptual soundness, reasonableness of assumptions, reliability of inputs, completeness of testing, outcome analysis and model performance (b) perform independent testing; measure the potential impact of model limitations, parameter estimation error or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks, and (c) monitor model performance on an ongoing basis.
• Liaise with internal and external groups including Model Developers & Users (Risk, Finance, Operations and Marketing), Fair Lending, Technology, Control teams, Internal Audit and Bank regulators.
• Maintain model risk controls, help identify and escalate issues to ensure that their resolutions are sound and timely.
• Keep up with the latest developments in consumer banking (CCB and industry) in terms of modeling techniques (e.g., advanced AI/ML methodologies, LLMs), products, markets, models, risk management practices and industry standards.
• Participate and actively contribute to the life and activities of MRGR CCB and MRGR more broadly.

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.
• Additional details about total compensation and benefits will be provided during the hiring process.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Ph.D. or professional degree
• Number of Employees: 5,001-10,000 employees