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Corporate - Model Risk Governance & Review - Model Review and Ongoing Monitoring - ED

Req #: 180019694
Location: New York, NY, US
Job Category: Accounting/Finance/Audit/Risk
Job Description:
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The Firm is a leader in investment banking; financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the worlds most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.
Financial Institutions routinely use models for a broad range of activities including credit underwriting, valuing financial instruments, measuring and managing risk, assessing the adequacy of reserves and capital resources, and many other applications. 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 Group (MRG) 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. MRG works closely with Risk, Finance and LOB professionals to review findings, on-going model risk measurement and risk mitigating strategies.
The Model Review Strategy team within MRG is responsible for formulating the standard of care applied to model development and review at all stages of the model lifecycle. The team works in close collaboration with model developers and users, performs pilot projects aimed at in-depth analysis of various aspects of model risk, and develops guidance to ensure comprehensive and effective coverage of model risk. The incumbent will be an integral part of the team.


  • A PhD or MS degree in Finance, Economics, Math, Physics, or another quantitative field, along with 12+ years of experience
  • Experience with model development and review process at a large financial institution
  • Exceptional written and oral communication skills
  • Exceptional critical reasoning skills
  • CFA or FRM qualification is a plus
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