Job Vacancy Associate – Model Review – CIB SPG Trading JPMorgan Chase
Job title: Associate – Model Review – CIB SPG Trading
Company: JPMorgan Chase
Job description: About the Group
The Model Risk Governance and Review Group (MRGR) oversees model risk at the firm, conducts independent model reviews, and provides guidance around a model’s appropriate usage. MRGR is responsible for conducting model validation to help identify, measure, and mitigate Model Risk. The objective is to ensure that models are used appropriately in the business context and that model users are aware of the models’ strengths and limitations and how these can impact their decisions.
Our team, MRGR SPG covers the trading and risk models used in CIB SPG Trading business and Mortgage Servicing Rights capital markets.
Key Responsibilities:
The successful candidate will work on the validation of valuation and risk models under coverage.
- S/he will carry out model validation, including model reviews and model risk measurement:
- Model reviews: evaluate conceptual soundness of model specification; reasonableness of assumptions and reliability of inputs; completeness of testing performed to support the correctness of the implementation; robustness of numerical aspects; suitability and comprehensiveness of performance metrics and risk measures associated with use of model.
- Model risk measurement: design and implement 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 benchmark models; carry out research and build benchmark model.
- Liaise with FO, Finance and Market Risk stakeholders to monitor usage and performance of the models and syndicate the findings of model validation.
Qualifications :
- PhD or MS degree in Applied Math, Economics (quantitative), Physics, Statistics, Engineering or similar.
- Good understanding of probability theory, econometrics, statistics, and numerical methods.
- 1-2 yrs. of experience in quantitative finance, preferable in model development and validation for mortgage prepayment and credit modelling.
- Experienced in dealing with large data sets and statistical modelling.
- Excellent analytical and problem solving abilities.
- Inquisitive nature, ability to ask right questions and escalate issues. Risk & Control mindset.
- Excellent communication skills (written and verbal).
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 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. In accordance with applicable law, we make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as any mental health or physical disability needs.
The health and safety of our colleagues, candidates, clients and communities has been a top priority in light of the COVID-19 pandemic. JPMorgan Chase was awarded the “WELL Health-Safety Rating” for all of our 6,200 locations globally based on our operational policies, maintenance protocols, stakeholder engagement and emergency plans to address a post-COVID-19 environment.
As a part of our commitment to health and safety, we have implemented various COVID-related health and safety requirements for our workforce. Employees are expected to follow the Firm’s current COVID-19 or other infectious disease health and safety requirements, including local requirements. Requirements include sharing information including your vaccine card in the firm’s vaccine record tool, and may include mask wearing. Requirements may change in the future with the evolving public health landscape. JPMorgan Chase will consider accommodation requests as required by applicable law.
Equal Opportunity Employer/Disability/Veterans
Expected salary:
Location: New York
Job date: Sat, 27 Aug 2022 22:13:28 GMT
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