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Firmwide Market Risk – Market Risk Basel Group VP

Req #: 170088011
Location: New York, NY, US
Job Category: Accounting/Finance/Audit/Risk
Job Description:
JP Morgan is a leading global financial services firm with assets of $2.1 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. Information about J.P. Morgan is available at
Market Risk is an independent risk group within Risk Management, reporting to the Firm’s CRO, which identifies, measures, monitors and controls market risk. Market risk management seeks to facilitate efficient risk/return decisions, reduce volatility in operating performance and ensure that the firm's market risk profile is transparent to senior management, the Board of Directors and regulators. Firmwide Market Risk works closely with the Market Risk teams aligned to each Line of Business and other partner teams including Risk Reporting, Risk Policy, Regulatory Risk, Market Risk Middle Office, Business Middle Offices, Control & Oversight and Model Review to set Market Risk policy and a consistent framework for Market Risk across the firm, and to share best practices across LOB Market Risk teams. The Market Risk Basel Group is part of the Firmwide Market Risk organization and is responsible for developing and delivering the operating model and framework for Basel Market Risk Rule implementation in partnership with key stakeholder groups.
Job Description
The Market Risk Basel Group is seeking a VP-level professional to provide support for the MRBG Asset Lead on Market Risk Regulatory Capital across asset classes including Equities, Credit, Securitized Products and Macro (Rates, FX, EM and Commodities).  The individual will support the development and build out of the end-to-end framework, and manage key initiatives and workstreams, based in London or New York. The VP will ensure that Basel 2.5 framework is properly implemented and maintained for the respective line of business.  The successful candidate will need to effectively partner across Firmwide Market Risk, Market Risk Coverage, the Regulatory Capital Management Office, Model Risk and Development, Quantitative Research, and Finance to manage strategic and tactical initiatives including ensuring implementation of covered position identification and management, significant sub-portfolio designation, providing oversight on regulatory Market Risk capital including VaR, Stress VaR, Specific Risk, IRC, CRM and etc.
Job Responsibilities
  • Oversight on regulatory Market Risk Capital including VaR, Stress VaR, Stress based capital and etc
  • Drive and support market risk capital initiatives across partner teams in Market Risk, QR, Product Control, Technology, and the Business
  • Provide expertise and governance on the Basel 2.5 rule to Risk, Finance and Front Office business-aligned teams
  • Stay abreast of changes in the LOB-specific Basel 2.5 implementation and ensure their compliance with rule requirements
  • Analyze and communicate quantitative impact study of FRTB (Fundamental Review of the Trading Book)
  • Implement and monitor compliance with “covered position” requirements for the LOBs
  • Govern changes to the significant subportfolios for an LOB
  • Implement and oversee the LOB-specific end-to-end controls
Skillset/Experience Required
  • In depth experience in a given or multiple asset classes in a Market Risk or similar capacity, with experience in one or more of Market Risk Management, Valuation Control, Regulatory Capital, and Product Control functions
  • Strong market risk knowledge and quantitative analytical skills
  • Excellent written and verbal communications skills and a strong track record of partnership
  • Strong project management skills; ability to gain consensus among staff and drive initiatives to completion effectively
  • Strong business judgment and autonomy
  • Ability to multi-task, work well under pressure with commitment to deliver under tight deadlines
  • Strong process and control mindset
  • Equities Derivatives background preferred
  • Strong Python and VBA skills preferred.
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