About the Group

The Model Risk Governance and Review Group (MRGR) oversees model risk at JPMorgan, conducts independent model reviews and provides guidance around a model's appropriate usage. The Model Review Group (MRG) is part of MRGR and is tasked with assessing and mitigating the risk posed by quantitative models being used within the firm.

About the Team

Our team oversees the risk posed by models in the fields of Machine Learning (ML), Statistics / Econometrics and Anti-Money Laundering (AML). We are data scientists, statisticians, risk managers, and early adopters of technology tasked with mitigating model risk. We also provide guidance around appropriate development of such models.

Why Join Us?

We offer a collegial environment that emphasizes professional learning in the fields of statistics / econometrics, ML and AML. In addition we offer you the opportunity to:

1. Review a wide variety of statistical/econometric, ML and AML models across different lines of business, allowing you to learn in a real-world environment.

2. Help solve challenging ML problems.

About the Role

The Associate level position requires the successful candidate to 1) quantitatively evaluate complex models, 2) use advanced statistical / ML techniques to assess model risks.

A significant portion of the successful candidate's time is likely to be spent reviewing statistical / econometric and ML models. Such models are currently used in applications such as fraud detection, digital marketing, Anti-Money Laundering and order routing. The role requires significant interaction with other groups, as well as document writing for internal and external stakeholders.

The position is located in New York, NY.

Core responsibilities

• Evaluate conceptual soundness of model specification; reasonableness of assumptions; reliability of inputs; completeness of testing performed; correctness of implementation; and suitability / comprehensiveness of performance metrics and risk measures.

• Design and implement experiments to measure the potential impact of model limitations, parameter estimation errors or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks.

• Evaluate the risk posed specifically by non-transparent and non-linear models, and suggest ways to mitigate such risks.

• Liaise with front office, Finance and Risk professionals to monitor usage and performance of the models.

• Evaluate market conditions under which a given model is likely to break down.

• Identify model risks most relevant to the bank's various lines of business.

• Cogently document findings.

Desirable skills, experience, and qualifications

• A Ph.D. or master's degree in a quantitative field such as Statistics, Economics, Math, Physics or Engineering.

• 0-2 years of experience.

• Deep understanding of statistics / econometrics

• Reasonable understanding of machine learning models. Experience with large data sets is preferred.

• Thorough knowledge of at least one programming language such as Matlab, R, Python, C/C++, etc.

• Good oral and written communication skillsJPMorgan 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