JP Morgan Chase & Co.

Risk Management - Quant Modelling Senior Associate

JP Morgan Chase & Co. • $120K — $150K *
New York, NY 10017In-Person
Finance & Insurance
Less than 5 years of experience
Today
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Job Overview by Ladders

Qualifications

  • PhD or MSc (or equivalent) in quantitative discipline (Math, Science, Engineering, Quantitative Finance).
  • Proficiency in derivative pricing and stochastic calculus.
  • Knowledge/experience in interest rate modelling for fixed income products.
  • Domain expertise in prepayment modeling and Interest Rate/MBS trading models.
  • Minimum 1 year of experience in Quantitative Model Development or Model Validation.
  • Strong communication and interpersonal skills for collaboration across functional areas.
  • Risk-oriented mindset to assess materiality and escalate issues.

Responsibilities

  • Perform model validation activities to ensure conceptual soundness and reliability of models.
  • Conduct reviews to propose enhancements and assess model scope.
  • Collaborate with Risk and Finance teams for model usage oversight and performance assessment.
  • Maintain the bank's model risk control framework and serve as a primary contact.
  • Stay updated with industry standards, products, and risk management practices.

Benefits

  • Opportunity to impact financial decision-making through model governance.
  • Collaboration with senior Risk and Finance professionals.
  • Access to continuous learning and development in quantitative fields.
  • Exposure to cutting-edge practices in risk management.
  • Potential for career advancement within a reputable financial institution.
Full Job Description
JOB DESCRIPTION

As a Risk Management - Quant Modelling Senior Associate within the MRGR CIO team, you will be responsible for overseeing model risk and conducting independent model reviews.. Model Risk arises from the potential adverse consequences of making decisions based on incorrect or misused model outputs and reports, leading to financial loss, poor business decision making, or reputational damage.

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.

Job Responsibilities

 

  • Engage in typical model validation activities - 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.

  • Perform additional model review activities ranging from proposing enhancements to existing models, assessing extensions to scope of existing models, developing benchmarking models.

  • Liaise with Risk and Finance professionals to provide oversight of and guidance on appropriate usage, controls around model restrictions & limitations, and findings for ongoing performance assessment and testing

  • Maintain model risk control apparatus of the bank for the coverage area, and serve as first point of contact

  • Keep up with the latest developments in coverage area in terms of products, markets, models, risk management practices, and industry standards

 

Required qualifications, skills and capabilities

  • Strong quantitative & analytical skills:  The role requires a strong quantitative background based on a PhD or MSc Degree (or equivalent) in a quantitative discipline such as Math, Science, Engineering, Quantitative/Math Finance, etc.

  • Strong technical skills in derivative pricing with deep understanding of stochastic calculus

  • Strong knowledge and/or experience with interest rate modelling (for fixed income vanilla product pricing) 

  • Domain expertise in following areas: prepayment modeling across trading and traditional banking products, Interest Rate and Mortgage Backed Securities trading models.

  • 1+ years of relevant working experience in areas such as Quantitative Model Development, Model Validation, Credit and/or Market Risk Management

  • Strong communication skills and ability to interface with other functional areas in the bank on model-related issues

  • Risk and control mindset: ability to ask incisive questions, converge on critical matters, assess materiality and escalate issues

About JP Morgan Chase & Co.

JP Morgan Chase & Co. stands at the forefront of the global financial services industry. They offer an expansive array of products and services to a diverse clientele, including individuals, corporations, governments, and institutions. Ever since the merger of J.P. Morgan & Co. and Chase Manhattan Corporation in 2000, this industry-leading entity has become renowned for its comprehensive portfolio encompassing consumer and community banking, corporate and investment banking, commercial banking, as well as asset and wealth management. Headquartered in the vibrant city of New York, JP Morgan Chase & Co. boasts a formidable presence across over 100 countries worldwide.

Unveiling Employment Opportunities at JP Morgan Chase & Co.

Vacancies and Hiring Initiatives

JP Morgan Chase & Co. is continuously on the lookout for talented individuals eager to contribute to its legacy of excellence. The company's recruitment efforts are geared towards identifying candidates with the right blend of skills and qualifications to drive forward its various business segments. Whether you are a seasoned professional or a recent graduate, JP Morgan Chase offers a plethora of job openings across multiple disciplines.

High-Demand Positions

Among the myriad of roles, certain positions stand out for their attractive compensation packages and career advancement prospects. Notably, high-paying jobs at JP Morgan Chase & Co. include Relationship Manager, Branch Manager, and Software Engineer. These roles are critical to the firm's operations and offer lucrative opportunities for those with the requisite expertise.

Navigating the Job Market at JP Morgan Chase & Co.

Leveraging Job Portals and Job Alerts

For job seekers aiming to tap into the opportunities at JP Morgan Chase, staying updated through job portals and subscribing to job alerts is crucial. These tools can provide timely information about job openings, job fairs, and recruitment events, enabling candidates to apply promptly and prepare adequately for interviews.

Preparing Your Job Application

Your job application, comprising your resume and cover letter, is your ticket to securing an interview at JP Morgan Chase. Highlight your qualifications, skills, and experiences that align with the job listing, ensuring you stand out in the competitive job market.

Acing the Interview

Preparation is key to succeeding in your interview with JP Morgan Chase. Familiarize yourself with the company's business segments, values, and recent achievements. Demonstrating how your background and aspirations match the company's goals can significantly increase your chances of employment. A World of Job Opportunites in the Financial Services Industry JP Morgan Chase & Co. offers a world of job opportunities for those seeking to make their mark in the financial services industry. With competitive salaries, comprehensive benefits, and endless possibilities for growth, positions at JP Morgan Chase are highly coveted. By staying informed through job sites, tailoring your applications, and preparing thoroughly for interviews, you can enhance your prospects of joining the esteemed ranks of JP Morgan Chase employees. Explore the job board, seize the job opportunities, and embark on a rewarding career journey with one of the world's leading financial institutions.
Learn more about JP Morgan Chase & Co.
Size
661 employees
Market Cap
$384.5 billion
Industry
Finance & Insurance
Net Income
$29.1 billion
Founded
1823
5 Year Trend
+0.7%
Revenue
$261.5 million
NASDAQ
CCF
* Ladders Estimates

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