CORP_Risk_Generic_Global_JPMC

Job Description

Financial Institutions routinely use models for a broad range of activities including analyzing business strategies, identifying and measuring risks, valuing exposures or instruments, conducting stress testing, assessing capital adequacy and meeting financial or regulatory reporting requirements. Model Risk arises from the potential adverse consequences of making decisions based on incorrect or misused model outputs, leading to financial loss, poor business decision making, or reputational damage.As part of the firm s model risk management function, Model Governance Group (MGG) is an independent risk management function charged with developing model risk policy & procedures, performing model validation activities, providing guidance on a model s appropriate usage in the business context, evaluating ongoing model performance testing, and ensuring that model users are aware of the model strengths and limitations. Model manager roles within MGG provide attractive career paths in a dynamic setting working closely with Model Developers, Users, Risk and Finance professionals, where they act as key stakeholders on day-to-day model-related risk management decisions.The successful candidate will be a member of the MGG CCB-Consumer and Community Banking (CCB) Line of Business (LoB) and will focus on the following activities:
• Engage in model validation activities - evaluate conceptual, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, associated with development & use of the model. Perform additional model review activities such as reviewing proposed enhancements to existing models, extensions to scope of usage for existing models or providing specific approvals.
• Liaise with various stakeholders including: Model Developers & Users (Risk, Finance, Operations and Marketing), MRGR, Fair Lending, Technology, Control teams, Internal Audit and Bank regulators
• Maintain model risk controls for the CCB models & serve as first point of contact, help identify and escalate issues to ensure that their resolutions are sound and timely.
• Manage accuracy of Model inventory, ongoing model performance monitoring, model change control, and participate in discussions with regulators on model risk.
• Keep up with the latest developments in CCB/industry in terms of modeling techniques (advanced AI/ML methodologies) products, markets, models, risk management practices and industry standards.
• Participate and actively contribute to various process enhancement initiatives for innovations/automation.
Essential skills, experience, and qualifications:
• Strong quantitative & analytical skills: The role requires a strong quantitative background (PhD /Master Degree in Statistics, Mathematics, Operations Research, Physics, or a quantitative science, or a BE/BTech degree in Computer Science/Electronics/Electrical Engineering etc. from top tier universities). Prefer candidates with hands-on experience of Machine Learning modeling methodologies and hands-on experience of programming with Python or other computer languages
• Product domain expertise in: CCB (Consumer & Business banking, Card Services, Home Lending, Auto Finance etc.); ability to understand the business / knowledge of regulation surrounding business)
• Experience: Preferably 6+ years prior experience in Model Development or Model Validation in Financial institutions.
• Strong communication skills Verbal and Written, ability to interface with stakeholders on model-related issues
• Risk and control mindset : Ask incisive questions, assess materiality of issues and escalate as required
• Sound project management /organizational skills: flexible, adaptable to shifting priorities to achieve the most effective result and able to work in a fast-paced, results driven environment
• Proficient in Microsoft Office Suite (MS Word, Excel, PowerPoint and Access)
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Keyskills :
business decision makingauto financemusic makinginternal auditstress testingchange controlrisk managementmicrosoft officemachine learning