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.
As a Vice President position within MRGR you will work 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. This is an individual contributor position.
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JPMorganChase's Model Risk Governance and Review (MRGR) is comprised of 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.
Job Responsibilities
- 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 developments in consumer banking in terms of modeling techniques (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
Required qualifications, capabilities, and skills
- 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 statistic/econometric methodologies (time series, panel data, etc.) and hands on experience with Machine Learning models are required.
- Minimum of 5 years of prior experience in Model Development or Model Validation in Financial Institutions. Ability to conduct model validation end-to-end as an individual contributor.
- Ask incisive questions, assess issues and risks' materiality
- Haveknowledge of consumer banking; ability to understand the business and the regulation surrounding the business
- Ability to interface with stakeholders on model-related issues, write clear model validation reports; create presentations on model validation topics
- Experience in Python, SAS or another programming language
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 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.
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.
JPMorgan Chase is an Equal Opportunity Employer, including Disability/Veterans
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.