Are you looking for an exciting opportunity to join a dynamic and growing team in a fast paced and challenging area? This is a unique opportunity for you to work in our team to partner with the Business to provide a comprehensive view.
As a Business Banking Loss Forecasting - Associate within the Consumer Credit Forecasting team, you will be responsible for executing credit loss forecasting models, diagnosing model accuracy, and leading advanced analyses to assess relationships and patterns promoting loss performance. You will also manage process automation and spearhead documentation for audit controls surrounding loss forecasting and reserves. This role provides an exciting opportunity to contribute to our team's success and develop your skills in a fast-paced environment.
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Within Consumer Credit Forecasting is the Business Banking Loss Forecasting team. Our team is accountable for model execution and providing reasonable forecasts of delinquencies, charge off and recovery of charged off assets throughout the year for Regulatory (CCAR and Risk Appetite), capacity planning, business planning exercise such as year-end budget and mid-year forecast in partnership with P&A, collections staffing plans, etc. by various macro-economic scenarios. The team is also responsible for monitoring the health of the portfolio and updating the business on any concerning trends.
The candidate will be part of the core forecasting team and will support the US credit forecasting functions and be responsible for execution of their processes through analytical insights, new age technologies and predictive analysis.
Job responsibilities
- Execute credit loss forecasting models to forecast credit losses and allowance for the Chase Business Banking portfolio supporting regulatory exercises like CCAR, CECL, firmwide Risk Appetite and Budget
- involve in determining the loss forecasting results and levers. This information will be presented to executive management and other internal clients
- Diagnose Model and liaison with modelling team to propose changes to model for accuracy at granular segments; Maintenance of existing models, identification of opportunities and issues, and proposing effective solutions
- Participate in cross-functional communications with Risk Management, Finance, Marketing and Collections to inform the forecast on current learnings and incorporate strategic initiatives
- Conduct macro sensitivity analytics, loss and allowance attribution, deep dives and story-boarding
- Lead advanced analyses to assess relationships and patterns driving loss performance
- Manage Process automation, using Excel / VBA and/or programming languages like Python/SAS
- Spearhead best in class documentation for audit controls surrounding loss forecasting and reserves
- Work on multiple projects with limited guidance
Required qualifications, capabilities, and skills
- A Bachelor's or Master's Degree in a quantitative discipline (Finance/Stats/Econ/Math/Engineering) or equivalent work/training is required
- Minimum 5 yrs of credit risk analytics, loss forecasting, statistical modeling, model execution and/or consulting experience
- Proficient in programming languages like Python/SAS /SQL
- Highly proficient in Microsoft Office suite of products (Advanced Excel, VBA and PowerPoint)
- Strong analytical and problem solving skills with the ability to interpret large amounts of data and its impact in both operational and financial areas
- Well-organized and structured with strong communication and presentation skills
Preferred qualifications, capabilities, and skills
- Knowledge of regulatory modeling (IFRS9/CECL/CCAR)
- Credit risk experience in one or more US consumer credit portfolios (i.e. U.S. Mortgage, Home Equity, Credit Card, Automotive, Lease, Business Banking)
ABOUT US
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 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. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
ABOUT THE TEAM
Our Consumer & Community Banking division serves our Chase customers through a range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. We're proud to lead the U.S. in credit card sales and deposit growth and have the most-used digital solutions - all while ranking first in customer satisfaction.
Risk Management helps the firm understand, manage and anticipate risks in a constantly changing environment. The work covers areas such as evaluating country-specific risk, understanding regulatory changes and determining credit worthiness. Risk Management provides independent oversight and maintains an effective control environment.