Risk Management - Model Risk Associate - Wholesale Credit Loss Forecasting C&I

Job Description
Join JPMorgan Chase's Risk Management and Compliance team, where your expertise will be pivotal in maintaining our strength and resilience. You'll be tasked with anticipating emerging risks and using your judgement to address challenges impacting our company, customers, and communities. Our culture encourages innovative thinking and challenges the status quo, striving for excellence in all we do.
As a Risk Management - Model Risk Associate in the Risk Management and Compliance team, you are at the center of keeping JPMorgan Chase strong and resilient. You help us grow our 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 is all about thinking outside the box, challenging the status quo and striving to be best-in-class. Being part of our team will put you at the center of the firm's model validation and governance activities with exposure to a wide variety of model types and cutting edge modeling techniques, while frequently interacting with the best and brightest in the firm. You will expand your knowledge of the different forecasting models used in the firm, their unique limitations, and use that knowledge to help shape business strategy and protect the firm.
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

Required qualifications, skills and capabilities

• A Degree in a quantitative field such as Math, Physics, Engineering, Economics or Finance is required.
• 2 plus years of experience in a quantitative or modeling role.
• Strong communication skills verbally and particularly in writing, with the ability to interface with other functional areas in the firm on model-related issues and write high quality technical reports
• Experience with large data sets is required
• Understanding of Python, R, or equivalent
• Deep understanding of statistics / econometrics
• Risk and control mindset: ability to ask incisive questions, assess materiality of model issues, and escalate issues appropriately

Preferred qualifications, skills and capabilities

• A Ph.D. or Master's degree in a quantitative field such as Math, Physics, Engineering, Economics or Finance is a plus.
• Knowledge of credit loss forecasting models for C&I portfolios is desirable. Additionally, knowledge of credit models such as Merton type structural models is a plus.
• Some knowledge of pricing models is useful.

About Us
JPMorganChase, 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 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.
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.