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 VP within the MRGR Asset Management team, you will own assigned model reviews, develop benchmark tools for independent testing, and assess ongoing model performance within the Asset Management business context. You will apply technical expertise and intellectual rigor to assess conceptual soundness, evaluate assumptions and implementation, and identify risks arising from individual models and model-to-model interactions. As an individual contributor, you will deliver high-quality validation reports, provide effective independent challenge to model developers and users, and communicate material findings and limitations to senior stakeholders. You will collaborate with colleagues across locations.
Model Risk Governance Review is a global team of modeling experts within the firm's Risk Management and Compliance organization. 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 - Assess Asset Management models against robust model development and testing standards, and contribute to enhancements in validation practices.
- Independently evaluate 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 risk assessments, hands-on independent testing, development and implementation of benchmark models, and evaluation of ongoing monitoring.
- Own assigned model risk assessments, document high-quality validation reports, and communicate findings, limitations, and their business implications to senior internal and external stakeholders, as appropriate.
- Support model-related audits and regulatory examinations by explaining review conclusions and providing clear supporting analysis and documentation.
- Stay abreast of industry best practices, regulatory developments, and modeling advancements relevant to Asset Management, and incorporate them into independent assessments and validation methodologies.
- Manage assigned review deliverables and priorities independently, collaborating with model developers, users, and MRGR colleagues to resolve findings and escalate material issues appropriately.
- Proven ability to deliver complex quantitative work independently and collaborate effectively across multiple locations and geographic time zones.
- Ability to engage with senior business stakeholders and model developers and challenge them effectively.
Required qualifications, capabilities, and skills - A PhD or Master's degree in a quantitative field such as Mathematics, Physics, Engineering, Computer Science, Economics or Finance is required.
- 3+ years of experience in model validation or front office model development roles.
- Strong verbal and written communication skills, with the ability to interface with other functional areas in the firm on model-related issues and write high quality technical reports.
- Deep understanding of pricing and risk management models - Requires understanding of derivative pricing and stochastic calculus.
- Deep understanding of standard statistical techniques for use in testing
- Ability to implement benchmarking models in Python, R, or equivalent.
- Risk- and control-oriented mindset: ability to ask incisive questions, assess the materiality of model issues, and escalate issues appropriately.
- Strong project management and organizational skills: flexible and adaptable to shifting priorities to achieve the most effective results.
- Ability to work in a fast-paced, results-driven environment.
Preferred qualifications, capabilities, and skills - Prior experience developing, validating, or working with models used in Asset Management is highly desirable. The range of models covers the full spectrum of models - from Factor models for alpha generation and risk measurement, portfolio optimization, securities and derivative pricing and risk analytics to VaR and counterparty credit.
- Hands-on experience with standard Machine Learning models, including Boosted Trees, Neural Networks, SVM, and LLM (e.g. BERT).
- Experience of working with dedicated ML packages, such as TensorFlow or similar, as well as data processing and numeric programming tools (NumPy, SciPy, Pandas, etc.).
ABOUT USJPMorganChase, 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. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of 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 & Co. is an Equal Opportunity Employer, including Disability/Veterans
ABOUT THE TEAMOur 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.
