Jpmorgan Chase & Co. Jersey City , NJ 07097
Vice President, Model Review Group
Req #: 180096510
Location: Jersey City, NJ,US
Job Category: Accounting/Finance/Audit/Risk
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide.
The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com."
Duties: Validate models used for valuation, risk, and stress testing of structured mortgage products, with activities covering the following:
Pre-screen model submissions, coordinate prioritization of reviews, draft review reports, and drive review publication effort; Organize and prepare for tollgates and risk assessment meetings, communicate high importance issues to model developers and work with developers to come up with plans to ensure successful documentation delivery; Conduct statistical tests for evaluating model performance with software packages in R and Python; Build benchmark framework and run analytical tests in leading securitized product platforms, including JP Morgan's BondStudio, Citi's YieldBook and Credit Suisse's Locus; Lead and conduct testing effort to verify correct end to end model implementation; Design stress testing scenarios and evaluate the adequacy of model performance in stress; Drive post-review process including evaluating issue closure evidence, gathering additional information from model developers and drafting and publishing issue evaluation reports. Conduct ad-hoc quantitative analysis to assess model risk impacts per senior management request. Assist front office including model developers establish sound model risk and control practices. Work with other coverage partners such as Model Governance Group, Risk, Finance and Audit to ensure that model risk is understood and managed.
Minimum education required: Master's degree or equivalent in Mathematics, Physics, Economics, Finance, Engineering, or a related quantitative field.
Minimum experience required: One (1) year of experience in financial modeling, programming, or related experience.