Risk Management - Model Risk Governance & Review, Quant Modeling - Managing Director - JPMorgan Chase
New York, NY
About the Job
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 Managing Director in the Model Risk Governance & Review (MRGR) group, you will be responsible for conducting model validation and governance through the model lifecycle. In this role you and your team will help identify, measure, and mitigate Model Risk. MRGR works closely with Risk, Finance, Control and Line Of Business (LOB) professionals to monitor model performance, review findings, and implement risk mitigating strategies.
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.
MRGR 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 have been approved, and that model users are aware of the model limitations and how they could impact business decisions.
Job Responsibilities:
+ Lead the Model Risk Governance and Review (MRGR0 group for Asset and Wealth Management (AWM)
+ Manage a team responsible for the validation and risk governance of all quantitative and qualitative models used across AWM.
+ Supervise model validation, including model reviews and model risk measurement:
+ Model reviews: Evaluate conceptual soundness of model specification; assess the reasonableness of assumptions and reliability of inputs; ensure completeness of testing performed to support the correctness of the implementation; examine the robustness of numerical aspects; and check the suitability and comprehensiveness of performance metrics and risk measures associated with use of model.
+ Model risk measurement: Design experiments to 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.
+ Stay informed about the latest developments in AWM/industry in terms of modeling techniques, products, markets, models, model risk management practices and industry standards.
+ Set direction, including providing training for junior members of the team and facilitating their learning and development.
+ Lead the end-to-end model risk management of model validation of Machine Learning (ML) within AWM, being proficient in the technical aspects of ML, understanding the strengths and limitations of ML techniques, being able to articulate whether the choice of an ML technique is appropriate, and having a practitioner's understanding of their regulatory requirements.
Required Qualifications, Skills and Capabilities
+ 10+ years' of relevant experience, with at least 5+ years of experience in applied quantitative research or model development demonstrating expertise in leadership.
+ In depth knowledge of economics, econometrics, statistics, numerical methods.
+ Product domain expertise in Asset and Wealth Management
+ Excellent analytical and problem-solving abilities.
+ Risk & Control mindset: Inquisitive nature, bias for action, ability to ask the right questions, escalate issues promptly and drive resolution.
+ Excellent communication skills (written and verbal).
+ PhD or Master's degree in quantitative disciplines such as Economics, Finance, Econometrics, Statistics, or similar.
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
Base Pay/Salary
Jersey City,NJ $300,000.00 - $500,000.00 / year; New York,NY $300,000.00 - $500,000.00 / year
As a Managing Director in the Model Risk Governance & Review (MRGR) group, you will be responsible for conducting model validation and governance through the model lifecycle. In this role you and your team will help identify, measure, and mitigate Model Risk. MRGR works closely with Risk, Finance, Control and Line Of Business (LOB) professionals to monitor model performance, review findings, and implement risk mitigating strategies.
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.
MRGR 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 have been approved, and that model users are aware of the model limitations and how they could impact business decisions.
Job Responsibilities:
+ Lead the Model Risk Governance and Review (MRGR0 group for Asset and Wealth Management (AWM)
+ Manage a team responsible for the validation and risk governance of all quantitative and qualitative models used across AWM.
+ Supervise model validation, including model reviews and model risk measurement:
+ Model reviews: Evaluate conceptual soundness of model specification; assess the reasonableness of assumptions and reliability of inputs; ensure completeness of testing performed to support the correctness of the implementation; examine the robustness of numerical aspects; and check the suitability and comprehensiveness of performance metrics and risk measures associated with use of model.
+ Model risk measurement: Design experiments to 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.
+ Stay informed about the latest developments in AWM/industry in terms of modeling techniques, products, markets, models, model risk management practices and industry standards.
+ Set direction, including providing training for junior members of the team and facilitating their learning and development.
+ Lead the end-to-end model risk management of model validation of Machine Learning (ML) within AWM, being proficient in the technical aspects of ML, understanding the strengths and limitations of ML techniques, being able to articulate whether the choice of an ML technique is appropriate, and having a practitioner's understanding of their regulatory requirements.
Required Qualifications, Skills and Capabilities
+ 10+ years' of relevant experience, with at least 5+ years of experience in applied quantitative research or model development demonstrating expertise in leadership.
+ In depth knowledge of economics, econometrics, statistics, numerical methods.
+ Product domain expertise in Asset and Wealth Management
+ Excellent analytical and problem-solving abilities.
+ Risk & Control mindset: Inquisitive nature, bias for action, ability to ask the right questions, escalate issues promptly and drive resolution.
+ Excellent communication skills (written and verbal).
+ PhD or Master's degree in quantitative disciplines such as Economics, Finance, Econometrics, Statistics, or similar.
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
Base Pay/Salary
Jersey City,NJ $300,000.00 - $500,000.00 / year; New York,NY $300,000.00 - $500,000.00 / year
Source : JPMorgan Chase