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. This opportunity is for the role of Vice President in Model Risk Governance and Review (MRGR) for Corporate & Investment Bank (CIB) Trading, based in either Mumbai or Bangalore, India. As a key player in Risk Management and Compliance at JPMorgan Chase, you'll be instrumental in managing business growth responsibly by anticipating and addressing emerging risks. The MRGR team, a global group of modeling experts, conducts independent model reviews and governance activities to identify, measure, and mitigate Model Risk. The focus of MRGR Trading is on Derivatives Instruments, involving complex and advanced modeling techniques.
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Job responsibilities:
Model Review
- Evaluate conceptual soundness of model specifications, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, and suitability and comprehensiveness of performance metrics and risk measures
- Perform independent testing of models by replicating or building benchmark models
- Design and implement experiments to measure the potential impact of model limitations, parameter estimation errors, and deviations from model assumptions; compare model outputs with empirical evidence or outputs from model benchmarks
- Document the model review findings and communicate them to stakeholders
Model Governance
- Serve as the first point of contact for model governance related inquiries for the coverage area, and help identify and escalate issues to ensure that their resolutions are sound and timely
- Provide guidance on the appropriate usage of models to model developers, users, and other stakeholders in the firm
- Stay abreast of the ongoing performance testing outcomes for models used in the coverage area, and communicate those outcomes to stakeholders
- Maintain the model inventory and model metadata for the coverage area
- Keep up with the latest developments in coverage area in terms of products, markets, models, risk management practices, and industry standards
Minimum Skills, Experience and Qualifications:
- A Ph.D. or Master's degree in a quantitative field such as Math, Physics, Engineering, Computer Science, Economics or Finance is required
- Strong analytical and problem-solving abilities
- Proficient in Python, R, Matlab, C++, or other programming language
- Understanding of options and derivative pricing theory and risk
- Strong communication skills with the ability to interface with front office traders, and other functional areas in the firm on model-related issues; and produce documents for internal and external (regulatory) consumption
- Teamwork oriented
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 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.