Fraud Loss Forecasting - Associate

Location: Columbus, OH, United States

Job Family: Risk Analytics/Modeling

About the Role

At JP Morgan Chase, we are a leading global financial services firm with a commitment to innovation and risk management. The Fraud Loss Forecasting - Associate role within our Risk Analytics/Modeling team in Columbus, OH, plays a critical part in safeguarding our operations by predicting and mitigating financial losses due to fraud. As an Associate, you will contribute directly to the fraud forecasting and budgeting processes, leveraging advanced analytics to track metrics and report on emerging trends across all loss lines. This position offers the opportunity to work on high-impact projects that influence strategic decisions in one of the world's largest banks, collaborating with experts in a dynamic environment focused on data-driven insights. Your primary responsibilities will include developing robust forecasting models using statistical techniques and historical data to estimate potential fraud losses, ensuring alignment with JP Morgan's rigorous budgeting cycles. You will monitor key performance indicators, analyze patterns in fraud activities, and produce detailed reports that highlight new trends, enabling proactive risk mitigation. Working closely with teams in Finance, Compliance, and Technology, you will integrate cutting-edge tools like machine learning to enhance model accuracy and provide actionable recommendations to senior stakeholders. This role demands a keen eye for detail and the ability to translate complex data into clear, business-oriented narratives. In addition to core analytics work, you will support scenario planning and stress testing to prepare for various fraud scenarios in the financial services landscape, adhering to regulatory standards such as those from the OCC and FDIC. At JP Morgan Chase, we value continuous learning and professional growth, offering access to world-class resources and mentorship to help you advance your career in risk management. If you are passionate about quantitative analysis and protecting financial integrity, join our Columbus team to make a meaningful impact on global banking operations.

Key Responsibilities

• Develop and maintain fraud loss forecasting models to support annual budgeting processes at JP Morgan Chase
• Track and analyze key fraud metrics across various loss lines, identifying emerging trends and anomalies
• Collaborate with cross-functional teams in Risk, Finance, and Compliance to ensure accurate fraud projections
• Generate comprehensive reports and dashboards on fraud performance, presenting insights to senior leadership
• Monitor regulatory changes and industry developments impacting fraud forecasting methodologies
• Conduct scenario analysis and stress testing for potential fraud losses in the financial services portfolio
• Support the integration of advanced analytics, including machine learning, into fraud forecasting workflows
• Assist in the review and validation of fraud models to align with JP Morgan's risk management standards
• Contribute to the documentation and continuous improvement of fraud tracking processes
• Provide ad-hoc analysis on fraud trends to inform strategic decisions in the Columbus Risk Analytics team

Required Qualifications

• Bachelor's degree in Finance, Economics, Statistics, Mathematics, or a related quantitative field
• 2-4 years of experience in risk analytics, fraud detection, or financial modeling within the banking or financial services industry
• Proficiency in statistical analysis and forecasting methodologies, including time series analysis
• Strong understanding of fraud patterns, loss forecasting, and regulatory requirements in financial services
• Experience with data visualization tools and reporting for executive stakeholders
• Ability to handle sensitive financial data with strict adherence to compliance standards
• Demonstrated analytical mindset with a track record of contributing to budgeting processes

Preferred Qualifications

• Master's degree in a quantitative discipline such as Statistics or Data Science
• Prior experience at a major financial institution like JP Morgan Chase in fraud risk management
• Certification in fraud examination (e.g., CFE) or risk management (e.g., FRM)
• Familiarity with JP Morgan's internal tools for risk modeling and analytics
• Experience in budgeting and forecasting for fraud loss lines in a large-scale banking environment

Required Skills

• Statistical modeling and forecasting techniques
• Proficiency in Python or R for data analysis
• SQL for querying large financial datasets
• Excel and advanced spreadsheet modeling
• Data visualization tools like Tableau or Power BI
• Knowledge of fraud detection algorithms and machine learning basics
• Time series analysis and econometric modeling
• Risk assessment and quantitative analysis
• Strong communication and presentation skills
• Attention to detail and problem-solving abilities
• Analytical thinking for trend identification
• Collaboration in team environments
• Regulatory compliance awareness in banking
• Project management for analytics initiatives
• Adaptability to evolving fraud landscapes

Benefits

• Competitive base salary and performance-based annual bonuses
• Comprehensive health, dental, and vision insurance plans
• 401(k) retirement savings plan with generous company matching
• Paid time off, including vacation, sick days, and parental leave
• Professional development opportunities through JP Morgan's internal training programs
• Employee stock purchase plan and financial wellness resources
• On-site fitness centers and wellness programs at the Columbus campus
• Flexible work arrangements and hybrid options for work-life balance

JP Morgan Chase is an equal opportunity employer.