JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.
Model Risk Governance & Review (MRGR) is a Corporate Risk team within JPMC with the responsibility for developing and implementing the Firm’s Estimation Risk Management framework across the firm.
The Central Challenger team within MRGR has a firm-wide purview for independently reviewing and approving Qualitative Models in accordance with the Firm’s Policies and Standards.
Review of qualitative models developed and used by the Firm’s Corporate function (Corporate Finance and Risk Management) to the application of the Firm’s capital stress testing, resolution planning, budget forecast and other processes. This includes the review of –
· Key financial estimations and management judgments, including those related to capital measurement, stress testing & reporting, product valuation, and other high priority processes
· Key assumptions and pro-forma financial results across material entities, primarily in the context of the Firm’s Resolution and Recovery process.
· Review qualitative estimations relying on statistical and judgmental components
· Develop independent benchmarks to challenge developer’s results (Statistical modeling experience is considered a strong plus)
· Stay abreast of macroeconomic, regulatory and industry landscape and bring this to bear in benchmarking analysis
· Identify innovation opportunities to enhance forecast effectiveness and efficiency
The team partners with Corporate Finance, Operational Risk Management, the Corporate Capital Stress Testing team (“CCST”) and various other Finance and Risk teams on various Firmwide initiatives. Additionally, the team also regularly interfaces with other arms of MRGR on initiatives specific to estimation risk management. The ability to work efficiently and communicate effectively across these boundaries will be one of the keys to success.
While the specific role and responsibilities of the successful candidate will evolve based on prior work and academic experience and demonstrated skills, he/she should hold the following:
2+ years of experience in banking / financial services industry
Advanced degree in a Finance, Engineering, Economics, Math/Statistics or related quantitative discipline
Strong quantitative, analytical skills and flair for independent research & problem solving
Knowledge of financial products/markets and regulatory requirements
Strong writing, organizational, communication and negotiation skills
Self-starter who is able to perform effectively in a fast paced, results driven environment
Additional qualifications/experience considerations:
Background or experience with model/estimation development, governance or validation
Programming experience in Python or similar
Experience in statistical modeling software is a plus (SAS, EViews, R, Matlab etc.)
Knowledge of regulatory capital rules (CCAR and CECL)