Job Description

DESCRIPTION:

Duties: Conduct independent reviews of models from Asset & Wealth Management, Commercial Banking, Consumer & Community Banking businesses such as fund performance, investment strategy management, alpha/beta funds execution, management fee yield forecast, banking book balance forecast, Card Services, risk-weighted assets forecast, individual asset class behavior under different economic conditions and etc. to the entire AWM, CB and CCB pillar, lead the whole team on executing reviews on quarterly stress testing deadlines. Provide thorough guidance to associates and analysts on various review focuses including option pricing, asset pricing, hedging strategy costs, volatility modeling, Net Interest Income, Non-Interest Income, Net-Interest Expense and etc. for both statistical analysis and business rationales. Drive the communication with counterparties and the dialogues with senior management, actively engage in working with other groups such as the Model Review Group, Model Governance Group, Asset & Wealth Management, Market Risk, Finance, Fair Lending, Corporate Loans, Corporate Risk, Technology and Audit to ensure that model risk is understood, captured, monitored and managed. Ensure consistency in model reviews by understanding the model exposure, market conditions, model limitations and scope of usage are not materially different from the approved model. Provide inputs into Firmwide Model Risk Policy and Procedures across JPMC Model Risk Governance & Review. Provide thorough guidance to the counterparties on how to build and ensure right level of model controls. Conduct benchmarking / independent modeling for all the business inputs, variances or gaps identified from the parallel running are the basis of model reviewing. Evaluate periodic testing assumptions and results. Ensure models have adequate and reliable back-testing processes in place and monitor ongoing model performance for errors and failures and ensure that their resolutions are sound. Ensure right level of operational controls are in place for the models. Work across the organization to ensure consistency of model assumptions and applications. Respond to model related inquiries from audit, US regulators and firmwide risk appetite on a semi-annual basis, address any issues that are highlighted by the regulators or audit. This position does not supervise employees.

QUALIFICATIONS:

Minimum education required: Masters degree in Finance, Economics, Business Management, Accounting, Engineering, Math/Statistics, or related field.

Minimum experience required: 3 years of experience in Financial Services, specifically Research, Risk, Regulatory Compliance, or Consulting, or related experience.

Skills required: Must have experience with US regulatory framework, including comprehensive capital analysis and review, stress testing, pre-provision net revenue, budget, risk-weighted assets, BASEL II, III and IV requirements, and etc. Must have experience with quantitative modeling on balance sheet and income statement items. Must have experience on risk management, including credit risk, market risk, liquidity risk and investment risk. Must have experience conducting economic outlook and financial market analysis. Must have experience on fund and investment management, modeling for alpha and beta strategies. Must have quantitative experience with statistics and coding. Must have programming experience in R. Must have programming experience in Python. Must have demonstrated knowledge of financial instrument pricing including bank loans, credit, rates, equities and derivatives. Must have experience with factor modeling across financial instruments. Must have demonstrated knowledge of banking operations. Employer will accept any amount of professional experience with the required skills.