Senior Internal Audit Associate - Model Risk

JPMorgan Chase - Jersey City, NJ

Full-time - Mid Level

Jersey City, NJ

Credit Intermediation and Related Activities

About the position

The Senior Internal Audit Associate - Model Risk will engage directly with model development and validation teams, collaborating with Front Office Trading Desks and Risk and Finance professionals. This role focuses on performing control assessments within the firm's global model risk management framework, which includes model development, reviews, usage, and ongoing performance testing.

Responsibilities

• Work directly with quants covering Trading Desks and Risk and Finance professionals to oversee model usage and controls.
• Manage and execute audit projects, ensuring quality deliverables meet departmental and professional standards.
• Finalize and communicate audit findings to management, identifying opportunities for improvement in key controls.
• Perform model risk control assessments and analysis, determining effectiveness and providing recommendations to strengthen the control framework.
• Maintain an independent model risk control apparatus by collaborating with internal and external clients, including auditors and regulators.
• Support and execute strategic risk and control assessments and projects in a timely manner.
• Stay updated on developments in products, markets, models, and risk management practices.

Requirements

• Strong quantitative background with a PhD or Master's Degree in a quantitative discipline such as Mathematics, Science, Economics, Engineering, or Quantitative Finance.
• Excellent written and verbal communication skills, with the ability to interface with various functional areas on model-related issues.
• Risk and control mindset, capable of asking incisive questions and assessing materiality.
• Proven critical thinking and analytical skills to identify and solve business problems related to model risk management.
• Strong leadership skills to establish credibility and influence change across cross-functional teams.

Nice-to-haves

• Prior experience in Quantitative Model Development, Model Validation, Machine Learning, or the Financial Services industry.