Vice President, Quant Modelling Lead; Model Risk Governance & Review

Posting Description

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

• Engage in model validation activities - evaluate conceptual soundness, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, etc., associated with development and use of the model. Perform additional model review activities such as reviewing proposed enhancements to existing models, extensions to scope of usage for existing models or providing specific approvals. Perform independent testing of the models by replicating and/or building alternative models.
• Liaise with various stakeholders including: Model Developers & Users (Digital Intelligence, Finance, Operations and Marketing), Fair Lending, Technology, Control teams, Internal Audit and Bank regulators.
• Maintain model risk controls for the Consumer and Community Banking models & serve as first point of contact, help identify and escalate issues to ensure that their resolutions are sound and timely.
• Manage accuracy of Model inventory, ongoing model performance monitoring, model change control, and participate in discussions with regulators on model risk.
• Keep up with the latest developments in Consumer and Community Banking/industry in terms of modeling techniques (advanced AI/ML methodologies) products, markets, models, risk management practices and industry standards.
• Participate and actively contribute to various process enhancement initiatives for innovations/automation.

Required qualifications, capabilities and skill

• Strong quantitative & analytical skills: The role requires a strong quantitative background (PhD /Master Degree in Statistics, Mathematics, Operations Research, Physics, or a quantitative science, or a BE/BTech degree in Computer Science/Electronics/Electrical Engineering etc. from top tier universities).
• Quant modelling skills: Prefer candidates with hands-on experience of Machine Learning modeling methodologies and hands-on experience of programming with Python or other computer languages
• Product domain expertise in: Consumer & Business banking, Digital Intelligence, Marketing, Operations etc.); ability to understand the business / knowledge of regulation surrounding business)
• Experience: Preferably 3+ years prior experience in Model Development or Model Validation in Financial institutions.
• Strong communication skills - Verbal and Written, ability to interface with stakeholders on model-related issues
• Risk and control mindset: Ask incisive questions, assess materiality of issues and escalate as required
• Proficient in Microsoft Office Suite (MS Word, Excel, PowerPoint and Access)