Best suited to candidates with a Master's degree in quantitative fields and experience in model validation and risk analysis, working in Corporate and Investment Banking within New York, NY.
Derived from job-description analysis by Serendipath's career intelligence engine.
Original posting from JPMorgan Chase
DESCRIPTION:
Duties: Perform model surveillance activities ranging from proposing enhancements to existing models, assessing extensions to scope of existing models, and developing benchmarking models. Validate quantitative forecasting frameworks to ensure they satisfy statistical criteria within the CIB Finance space by performing regression diagnostics on modelling assumptions, model specifications, and residual analysis. Collaborate with cross-functional teams to evaluate model effectiveness, identify model risks and limitations, and ensure models meet regulatory and business requirements. Leverage feature selection techniques to build benchmark models. Refine and deliver model validation report to model risk officers, model developers and model users. Oversee model performance monitoring activities, including quarterly ongoing model performance monitoring and model status assessment. Lead model governance initiatives within CIB Finance coverage by partnering with Lines of Business, regulatory policy, financial reporting, quantitative research, and other finance and risk teams. Guide a team of associates, including assigning tasks to junior team members, reviewing their work for quality and accuracy, and providing guidance to increase their efficiency and support their development. Provide guidance on appropriate model usage and compensating controls and ensuring compliance with regulatory requirements.
QUALIFICATIONS:
Minimum education and experience required: Master's degree in Economics, Finance, Math, Statistics, or related field of study plus 3 years of experience in the job offered or as Quant Analytics or related occupation.
Skills Required: This position requires three (3) years of experience with the following: Conducting Corporate and Investment Banking PPNR, balance sheet risk analysis, and stress forecasting leveraging advanced statistical and econometric computational techniques using Python packages including Statsmodels, Scikit- learn, and SciPy; Applying probability theory and numerical methods to identify model risks and enhance model reliability; Developing benchmark models for Corporate and Investment Banking PPNR and balance sheet forecasting and capital planning purpose; Designing forecasting frameworks using quantitative approaches including linear regression, logistic regression, and time series modeling; Designing scenarios, analyzing outcomes, and ensuring compliance with regulatory requirements through documentation and reporting using regulatory capital planning stress testing exercises, including CCAR and ICAA; Crafting technical documentation and reports for both internal stakeholders and regulators; Translating quantitative analyses into insights to facilitate communication; Identifying model risk issues and implementing risk management controls and frameworks; Developing strategies for regulatory capital planning stress testing exercises, recovery and resolution planning, and addressing controls gaps to mitigate potential risks; Developing and integrating quantitative models into business processes and decision-making frameworks; Implementing models, aligning model outputs with strategic business goals, and facilitating model review operational efficiency; Lead projects to enhance model governance, ensuring compliance with internal and industry standards and regulatory guidelines, and drive continuous improvement in model development and application.
Job Location: 237 Park Ave, New York, NY, 10017.
Full-Time. Salary: $168,500 - $215,000 per year.
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
Source: JPMorgan Chase careers