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Associate – Modeling Analytics (Challenger Mortgage)

Req #: 180006651
Location: Bangalore East, KA, IN
Job Category: Credit
Job Description:
J.P. Morgan is a leading global financial services firm, established over 200 years ago:
o We are the leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.
o We have assets of $2.5 trillion and operations worldwide
o We operate in more than 100 markets.
o We have more than 243,000 employees globally.
 
Our wholesale businesses include J.P. Morgan’s Asset Management, Commercial Banking and the Corporate & Investment Bank which provide products and services to corporations, governments, municipalities, non-profits, institutions, financial intermediaries and high-net worth individuals and families.
 
Our corporate functions support the entire organization and include the following functions: Accounting, Audit, Finance, Human Resources, Operations, and Technology.
 
J.P. Morgan in India provides a comprehensive range of Corporate & Investment Banking, Commercial Banking, Asset & Wealth Management, and Corporate functions services and solutions to our clients, executing some of the most important financial transactions and providing essential strategic advice to our clients such as the government, large domestic and multi-national corporations, non-government organizations and financial institutions and investors. India is a key market for JPMorgan Chase globally and our employees in India are a critical part of how we do business globally and are integrated within our businesses. Our Global Service Centres (GSCs) are strategically positioned in Mumbai, Bangalore and Hyderabad to support the firm’s operations regionally and globally. The centres provide comprehensive strategic support across technology and business operations processing to all lines of business and the corporate functions.
 
This an excellent opportunity for an individual who thrives in a fast-paced and team-oriented environment where strong analytical skills, business acumen, and superior communication skills are leveraged to support our company's ability to accurately forecast our losses and identify early signs of credit risks.

 

The Consumer and Community Bank (CCB) currently consists of a number of credit portfolios including Credit Card, Mortgage, Auto, Student Loans, Business Banking and Dealer Commercial Services. The consumer business is supported by both Vertical Organizations (dedicated risk staff supporting a specific business) and Horizontal Organizations (staff that is accountable for working across businesses.) One of these Horizontal organizations is the Consumer Credit Forecasting team.
 
Within Consumer Credit Forecasting is the Mortgage Loss Forecasting team.  Our team is accountable for providing reasonable forecasts of delinquencies, losses and loan loss reserves throughout the year for various purposes like regulatory stress tests (CCAR, and quarterly Risk appetite), business planning exercise such as year-end budget and mid-year forecast in partnership with P&A, collections staffing plans, etc. The team is also responsible for monitoring the health of the portfolio and updating the business on any concerning trends.
 
The candidate will be part of the centralized team but will have dotted line reporting to the Mortgage LOB. Based on SR 15 /18 guidelines, there is a need to build independent challenger stress forecast for 2019 in addition to the work supported by the firm wide challenger team. The challenger stress model would be an independent challenge to the champion model.
 
Responsibilities include:
  • Executing core forecast runs using the challenger stress model and assessing inputs
  • Analysing data and forecast results in a business and financial context
  • Explaining the variations in loss forecast model outputs based on portfolio trends, planned business actions and model components/assumptions
  • Reviewing back-test results to assess the model performance
  • Addressing gaps in the model output through model deficiency / management judgement
  • Leveraging challenger analytical approach to benchmark the stress model output
  • Conducting independent user acceptance testing
  • Performing sensitivity analysis on inputs and independently challenging the forecast numbers
  • Working closely with upstream and downstream partners to communicate outcomes and analysis
  • Supporting all results through appropriate documentation
  • Developing enhanced reporting through use of automation, if required, such as excel macros or SAS programming as needed
  • Managing ad hoc analysis; starting with identifying the opportunities and issues, collecting data, analysing and presenting the data
  • Presenting findings, recommendations and presentations to Senior Management. 
  • Effectively mentoring other analysts to help them develop their risk management skills and knowledge
 
The work schedule is Monday - Wednesday, 1 PM - 10 PM IST and Thursday - Friday, 11 AM – 8 PM IST  
  • Bachelor's degree in a quantitative discipline; Math, Finance, Statistics, Economics or equivalent work/training is required; advanced degree is preferred
  • 3+ years of related analytical experience
  • Deep credit risk experience in one or more US consumer credit portfolios (i.e. U.S. Mortgage, Home Equity, Credit Card, Automotive, Lease, Business Banking)
  • Knowledge of the Forecasting process, macroeconomics and finance preferred
  • Strong technical and statistical skills.  Ability to synthesize data and communicate to leadership in a concise and effective manner, both verbally and written
  • Focused attention to detail, analytical & inquisitive with high standards for quality and accuracy 
  • History of effective multi-tasking, expectation setting, and escalation of issues, where appropriate
  • Project Management Skills -- well-organized, structured approach.  Ability to achieve tight timelines on complex deliverables.  Ability to manage and prioritize projects across cross-functional groups
  • Strong communication and interpersonal skills, ability to interact with individuals across departments / functions and with senior-level individuals 
  • Able to work effectively under pressure and in a rapidly changing environment in order to meet deadlines
  • Collaborative, team-oriented, passionate about supporting our internal / external clients
  • Self-starter, able to take the initiative and operate independently on a daily basis
  • Strong understanding of controls and dedicated to continuously improving processes
  • Exhibited leadership and desire to oversee the development of credit analysts in the team
  • 2+ years of SAS (including SAS Macros) & SQL programming experience (PC, UNIX or mainframe). Knowledge of Tableau preferred
  • Highly proficient in Microsoft Office suite of products (Excel and PowerPoint, experience with Essbase a plus)
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