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CIB QR - Quantitative Research – Wholesale Credit Rating Group – VP

Req #: 170037820
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. www.jpmorganchase.com.
 
Description
 
Corporate and Investment Banking Quantitative Research group (IBQR) is responsible for Wholesale Credit Risk model developments for the firm. These models will relate to CIB, CB and GWM lines of businesses (LOBs) as well as a few other wholesale related sub-LOBs.   Wholesale Credit Rating Group within IBQR is responsible for monitoring, validating the accuracy and timelines of the current internal rating framework as well as developments of benchmarks models, and beyond.    
 
JPMC internal client rating is a key risk parameter that is utilized for many different purposes across the bank such as for pricing decisions, RWA and Allowance calculations, CCAR/ICCAP stress testing and its most fundamental purpose of providing an indication of the credit quality of JPMC’s wholesale portfolio. Assigning ratings to JPMC Wholesale clients is a multi-step process whereby a credit officer responsible for rating a client will rely on all available information. Such information will generally consist of both quantitative (e.g., financial measures) as well as qualitative information (e.g., industry and tier position, management and contingencies).
 
Specifically, the current open position requires the successful candidates to quantitatively develop and evaluate complex models relating to the internal client rating methodologies and frameworks covering all of the firm’s products. The initial focus of these positions are to build quantitative models/platforms to study and assess large sets of data, designing name mapping algorithms between various datasets, as well as designing and implementing Merton type models. Designing interfaces that generates charts and presentable material is also a large part of the work. In addition, the position may require participation in meetings and possible occasional travels.  
Qualifications
 
The candidate is expected to be self-driven, and have an understanding of risk, accounting and financial analysis. Given a problem, the candidate must be able to formulate it effectively and efficiently, educate himself/herself as well as the team about the subject matter and come up with a range of solutions to solve the problem. A PhD or MS degree in Finance, Economics, Math, Physics, or another quantitative field is required, along with 1-3 years of experience (for the Associate level) and 5 - 10 years of experience (for the VP level). Thorough knowledge programming languages such as Python, Matlab, R, C/C++, etc. is required. CFA or FRM qualification is a plus.
 
Furthermore, the candidates must have excellent communications and presentation skills. Being able to present highly technical analysis in non-technical ways (in plain English) is a must for this open position.     
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