Risk Management - Quant Modeling Lead - Vice President

Job Description

Bring your Expertise to JPMorgan Chase. As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.

The Quant Modeling Lead – Vice President position within MRGR provides an attractive career paths in a dynamic setting working closely with Model Developers, Users, Risk and Finance professionals. MRGR team members act as key stakeholders on day-to-day model-related risk management decisions.

JPMorgan Chase’s Model Risk Governance and Review (MRGR) is a global team of modeling experts. The team is responsible for conducting independent model validation and model governance activities to help identify, measure, and mitigate model risk in the firm. The objective is to ensure that models are fit for purpose, used appropriately within the business context for which they have been approved, and that model users are aware of the model limitations and how they could impact business decisions.

Job Responsibilities:

• Focus on the review and risk governance of forecasting and scoring models (including models developed using traditional statistical methods as well as advanced AI/ML techniques) and used by Consumer and Community Banking ( CCB) for stress testing, risk and regulatory capital measurement, allowance determination, new origination, etc.
• Lead and engage in model validation activities, including (a) evaluate models’ conceptual soundness, reasonableness of assumptions, reliability of inputs, completeness of testing, outcome analysis and model performance (b) perform independent testing; measure the potential impact of model limitations, parameter estimation error or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks, and (c) monitor model performance on an ongoing basis.
• Liaise with internal and external groups including Model Developers & Users (Risk, Finance, Operations and Marketing), Fair Lending, Technology, Control teams, Internal Audit and Bank regulators.
• Maintain model risk controls, help identify and escalate issues to ensure that their resolutions are sound and timely.
• Keep up with the latest developments in consumer banking (CCB and industry) in terms of modeling techniques (e.g., advanced AI/ML methodologies, LLMs), products, markets, models, risk management practices and industry standards.
• Participate and actively contribute to the life and activities of MRGR CCB and MRGR more broadly.

Required qualification skills and capabilities:

• PhD or Master Degree in Statistics, Economics (with a focus on Econometrics), Data Science, Computer Science, Operations Research, Physics, Engineering, Applied Math or a quantitative science. In depth knowledge of probability theory, econometrics, statistics, numerical methods and machine learning, as well as experience with advanced AI/ML techniques.
• 5+ years prior experience in model development, model validation or quantitative research in financial institutions. Ability to conduct model validation end-to-end as an individual contributor.
• Ability to ask incisive questions, assess issues and risks’ materiality. Inquisitive nature and strong analytical & problem solving abilities.
• Knowledge of consumer banking; ability to understand the business and the regulation surrounding the business.
• Verbal and written; ability to interface with stakeholders on model-related issues, write clear model validation reports; create presentations on model validation topics.
• Proficient in statistical programming language such as Python or R; experienced in dealing with large data sets.

About Us

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/Veterans

About the Team

Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we’re setting our businesses, clients, customers and employees up for success.