Model Risk Governance and Review Policy Associate

Location: LONDON, LONDON, United Kingdom

Job Family: Firmwide Risk and Compliance

About the Role

At JP Morgan Chase, we are a leading global financial services firm with operations spanning investment banking, consumer and community banking, commercial banking, and asset and wealth management. Our Firmwide Risk and Compliance team plays a critical role in safeguarding the integrity of our operations by establishing robust frameworks for managing risks, including those arising from mathematical and statistical models used across our businesses. As a Model Risk Governance and Review Policy Associate in our London office, you will join a dynamic team dedicated to enhancing our model risk management practices, ensuring they align with both internal standards and global regulatory expectations. This role offers the opportunity to drive innovation in policy development while collaborating with cross-functional teams to mitigate model-related risks in a complex financial landscape. In this position, you will be responsible for developing and maintaining comprehensive policies that govern the lifecycle of models used in areas such as credit risk, market risk, and operational risk. You will conduct thorough reviews of model governance processes, identify potential vulnerabilities, and recommend enhancements to strengthen our framework. Working closely with model owners, validators, and senior executives, you will contribute to the firm's enterprise risk management strategy, ensuring compliance with key regulations like the Federal Reserve's SR 11-7 and the European Banking Authority's guidelines. Your work will directly support JP Morgan's commitment to responsible innovation, particularly as we integrate advanced technologies like machine learning into our risk modeling. We seek a proactive professional with a passion for risk management and a keen eye for detail, who thrives in a collaborative, high-impact environment. This role not only provides exposure to cutting-edge financial practices but also offers significant opportunities for career growth within JP Morgan Chase's global network. By joining us, you will help shape the future of model risk governance, contributing to the stability and success of one of the world's most admired financial institutions.

Key Responsibilities

• Develop, review, and update model risk governance policies to ensure alignment with regulatory standards and JP Morgan's enterprise risk framework
• Conduct assessments of model risks across firmwide portfolios, including credit, market, and operational risk models
• Collaborate with model developers, validators, and senior stakeholders to enhance model documentation and lifecycle management
• Monitor compliance with model risk management policies and report findings to governance committees
• Drive initiatives to innovate model risk review processes, incorporating emerging technologies like AI and data analytics
• Provide training and guidance to teams on model risk best practices and policy adherence
• Analyze regulatory changes and recommend updates to internal policies to mitigate compliance risks
• Support audit and regulatory examinations by preparing detailed reports on model risk governance
• Foster cross-functional partnerships to promote a culture of risk awareness and accountability

Required Qualifications

• Bachelor's degree in Finance, Economics, Mathematics, Statistics, or a related quantitative field
• Minimum of 3-5 years of experience in model risk management, governance, or review within the financial services industry
• Strong understanding of regulatory frameworks such as SR 11-7, EBA Guidelines on Model Risk Management, and Basel III requirements
• Proficiency in model validation techniques and risk assessment methodologies
• Experience with policy development and implementation in a compliance or risk function
• Ability to work collaboratively in a fast-paced, global environment

Preferred Qualifications

• Advanced degree (Master's or PhD) in a quantitative discipline
• Certification in risk management (e.g., FRM or PRM)
• Prior experience at a major financial institution like JP Morgan Chase
• Knowledge of machine learning models and their application in financial risk modeling
• Familiarity with JP Morgan's internal model risk policies and tools

Required Skills

• Expertise in quantitative modeling and statistical analysis
• Proficiency in programming languages such as Python, R, or SQL for model review
• Strong knowledge of financial risk models (e.g., VaR, stress testing)
• Excellent analytical and problem-solving abilities
• Superior communication skills for policy documentation and stakeholder presentations
• Regulatory compliance and policy interpretation expertise
• Project management skills for leading governance initiatives
• Attention to detail in reviewing complex model assumptions
• Team collaboration and interpersonal skills
• Adaptability to evolving regulatory and technological landscapes
• Data visualization tools proficiency (e.g., Tableau, Excel advanced functions)
• Risk assessment and mitigation techniques
• Ethical judgment in high-stakes financial environments
• Time management for handling multiple priorities

Benefits

• Competitive base salary and performance-based annual bonuses
• Comprehensive health, dental, and vision insurance coverage
• Generous retirement savings plan with company matching contributions
• Paid time off including vacation, sick leave, and parental leave
• Professional development opportunities through JP Morgan's internal training programs and tuition reimbursement
• Employee wellness programs, including gym memberships and mental health support
• Flexible working arrangements with hybrid options in London
• Global mobility and career advancement paths within JP Morgan Chase

JP Morgan Chase is an equal opportunity employer.