Company

JPMorgan Chase & CoSee more

addressAddressNew York, NY
type Form of workFull-Time
CategoryHuman Resources

Job description

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 by 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.

Model Risk Governance and Review (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 review 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.

MRGR CIB Trading covers valuation and risk-management models used within the Corporate & Investment Bank. The team focuses on derivatives instruments, which involve some of the most complex and advanced modeling techniques used in the industry.

MRGR Rates is the part of MRGR CIB Trading specifically dedicated to interest rates derivatives models.

As a VP in MRGR Rates, you will be at the center of the firm's model review and governance activities with exposure to a wide variety of model types and cutting-edge modeling techniques. You will have exposure to a variety of trading businesses and work closely with other Risk teams, Model Developers, traders, and Finance all of whom play a key role in the day-to-day management of Model Risk.

Job 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.
  • Participate in model-related audits and regulatory examinations.

Required qualifications, Skills and Capabilities

  • A Ph.D. or Master's degree in a quantitative field such as Math, Physics, Engineering, Computer Science, Economics or Finance is required.
  • [Based on title grid below] years of experience in a quantitative or modeling role. Candidates with significantly more experience may be considered for more senior roles.
  • Strong communication skills verbally and particularly in writing, with the ability to interface with front office traders and other functional areas on model-related issues, as well as write high quality technical reports. 
  • Understanding of Python, R, Matlab, C++, or other programming languages.
  • Understanding of options and derivative pricing theory and risks.
  • 3+ years of experience in a derivative pricing modeling or model validation role (# of years' experience is also dependent on hiring location).
  • Excellence in probability theory, stochastic processes, statistics, partial differential equations, and numerical analysis.
  • Risk and control mindset: ability to ask incisive questions, assess materiality of model issues, and escalate issues appropriately.
  • Strong project management and organization skills: flexible, adaptable to shifting priorities to achieve the most effective result and able to work in a fast-paced, results-driven environment. 
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.
JPMorgan Chase & Co., 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.

We recognize that our people are our strength and the diverse talents and perspectives that they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.  (If you are a US or Canadian applicant with a disability and wish to request an accommodation to complete the application process, please contact us by calling the Accessibility Line (US and Canada Only) 1-866-777-4690 and indicate the specifics of the assistance needed.)

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set, and location. For those in eligible roles, we offer discretionary incentive compensation which may be awarded in recognition of firm performance and 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.

JPMorgan Chase is an Equal Opportunity Employer, including Disability/Veterans

Refer code: 7246959. JPMorgan Chase & Co - The previous day - 2023-12-18 07:45

JPMorgan Chase & Co

New York, NY
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