Risk Management - Macroeconomic Variables - Vice President

JPMorgan Chase

  • New York
  • $147,250-215,000 per year
  • Permanent
  • Full-time
  • 4 days ago
Join JPMorgan Chase's Risk Management and Compliance team, where your expertise will be pivotal in maintaining our strength and resilience. You'll be tasked with anticipating emerging risks and using your judgement to address challenges impacting our company, customers, and communities. Our culture encourages innovative thinking and challenges the status quo, striving for excellence in all we do.As a Risk Management - Macroeconomic Variable - Vice President within the Model Risk Governance & Review (MRGR) group, you will be at the forefront of maintaining JPMorgan Chase's strength and resilience. You will be responsible for conducting model validation to help identify, measure, and mitigate Model Risk. Your role will involve ensuring that models are used appropriately in the business context and that model users are aware of the models' strengths and limitations. You will also be working closely with Risk, Finance and line of business professionals to review findings, on-going model risk measurement and risk mitigating strategies. Your deep understanding of macroeconomic theory and econometric techniques will be crucial in overseeing a portfolio of models used in the design of macroeconomic scenarios that support firmwide processes such as stress testing and credit impairment estimation.Job 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.
  • Maintain model risk control apparatus of the bank for the coverage area & serve as first point of contact.
  • Liaise with front office, Finance and Risk professionals to monitor usage and performance of the models.
  • Evaluate macroeconomic and market conditions under which a given model is likely to break down.
  • Build benchmark models to understand and evaluate the model risks posed by forecasting models used by different lines of business.
  • Conduct independent research to understand different model risks inherent to forecasting models and provide guidance to development teams.
  • Cogently document findings.
  • Train and lead junior team members.
Required qualifications, skills and capabilities
  • A Ph.D. or master's degree in a quantitative field such as Economics, Finance, Statistics, Math, or Engineering.
  • At least five years of experience on quantitative research, development or review of forecasting models.
  • Deep understanding of econometrics, statistics, Macroeconomics and finance.
  • Thorough knowledge of Python, R, or equivalent.
  • Good oral and written communication skills.
Preferred qualifications, skills and capabilities
  • A Ph.D. in a quantitative field such as Economics, Finance, Statistics, Math, or Engineering.
JPMorganChase, 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 offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.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. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/VeteransBase Pay/Salary
New York,NY $147,250.00 - $215,000.00 / year

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