Risk Management - Forecasting Model Review - Vice President

JPMorgan Chase - Jersey City, NJ

Full-time - Senior

Jersey City, NJ

Credit Intermediation and Related Activities

About the position

As a Vice President in Risk Management - Forecasting Model Review at JPMorgan Chase, you will play a crucial role in ensuring the firm's resilience and responsible growth by evaluating and validating forecasting models. This position involves anticipating emerging risks and utilizing expert judgment to address challenges that affect the company, its customers, and the community. You will be involved in model validation and governance activities, working with various model types and advanced modeling techniques, while collaborating with top talent within the firm.

Responsibilities

• Set standards for robust model development practices and enhance them as needed to meet evolving industry standards.
• Evaluate adherence to development standards including soundness of model design, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, and suitability of performance metrics.
• Identify weaknesses, limitations, and emerging risks through independent testing, building of benchmark models, and ongoing monitoring activities.
• Communicate risk assessments and findings to stakeholders, and document in high quality technical reports.
• Assist the firm in maintaining the appropriateness of ongoing model usage and the level of aggregate model risk within risk appetite.
• Participate in model-related audits and regulatory examinations.

Requirements

• A Ph.D. or Master's degree in a quantitative field such as Math, Physics, Engineering, Statistics, Economics or Finance is required.
• 3 years of experience in a quantitative or modeling role.
• Strong communication skills verbally and particularly in writing, with the ability to interface with other functional areas in the firm on model-related issues and write high quality technical reports.
• Experience with large data sets is required.
• Proficiency in Python, R, or equivalent.
• Deep understanding of statistics / econometrics.
• Risk and control mindset: ability to ask incisive questions, assess materiality of model issues, and escalate issues appropriately.
• Strong project management and organizational skills: flexible, adaptable to shifting priorities to achieve the most effective result.
• Able to work in a fast-paced, results-driven environment.

Nice-to-haves

• Prior modeling experience in commercial real estate or residential mortgage preferred.