Posted in General Business 12 days ago.
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Location: Jersey City, New Jersey
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.
The Model Risk Governance and Review Group (MRGR) oversees model risk at JPMorgan, conducts independent model and qualitative model reviews and provides guidance around model and qualitative model's appropriate usage. MRGR is composed of 4 distinct units: Model Review Group (MRG), Model Governance Group (MGG), Chief Operating Officer (COO) and Central Challenger Team (CCT). The Central Challenger team has a firm-wide purview for independently assessing and driving improvements in the following areas:
1. Forecasting methodologies developed by various lines of business (LOBs) for the Firm's Capital Stress Testing and Budgeting process.
2. Key assumptions and pro-forma financial results across material entities, primarily in the context of the Firm's Resolution and Recovery process.
3. Key financial calculations across the Firm, including those related to capital measurement, stress testing & reporting, and product valuations.
The team partners with the Corporate Capital Stress Testing, Recovery & Resolution, LOBs, Regulatory Policy, Financial Reporting, Quantitative Research and various other Finance and Risk teams on various firm-wide initiatives.
The primary role of Central Challenger is to (i) constructively challenge and improve existing forecasting methodologies used across the Firm and (ii) review implementation accuracy and soundness of financial calculations. The Associate will support the Review Lead on the above qualitative reviews. Ability to think critically, take ownership of the review process, and communicate effectively (both spoken and written) are essential to this role. Fluency in statistics and model development are a plus.
• Work with the review lead to independently review and challenge key estimation methodologies and analytics/tools for firm-wide capital stress testing, resolution & recovery, budgeting and related processes
• Develop expertise in Consumer banking products & services, Asset & Wealth Management and /or Commercial banking, including an understanding of the drivers behind different products and businesses using a combination of research and liaising with business lines
• Review qualitative model documentation and write assessment reports
• Interact with teams across Finance and Risk functions, lines of business (front/middle/back office) and reporting groups
• Stay abreast of regulatory and industry requirements in finance / risk / accounting to manage reviews and changes in processes
The role and responsibilities of the successful candidate will be determined based on qualifications, prior experience and demonstrated skills.
Location: Jersey City, NJJPMorgan 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.
Equal Opportunity Employer/Disability/Veterans