Risk Management - Compliance Anti-Money Laundering and KYC - Model Risk Program Associate

Location: Jersey City, NJ, United States

Job Family: Associates

About the Role

At JP Morgan Chase, we are a leading global financial services firm with a strong commitment to integrity, innovation, and regulatory compliance. The Risk Management - Compliance Anti-Money Laundering and KYC - Model Risk Program Associate role in our Jersey City, NJ office is pivotal in supporting our robust AML and KYC initiatives. As an Associate, you will play a key role in the Model Risk Program, ensuring that our advanced models for detecting and preventing financial crimes meet the highest standards of accuracy and regulatory adherence. This position offers the opportunity to work on cutting-edge compliance technologies within one of the world's largest banks, contributing to the safety and stability of the global financial system. In this role, you will collaborate with cross-functional teams including compliance officers, data scientists, and risk analysts to develop, validate, and monitor AML/KYC models. Responsibilities include performing risk assessments on model outputs, identifying potential vulnerabilities in transaction monitoring systems, and ensuring alignment with frameworks like the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) requirements. You will assist in preparing documentation for internal audits and regulatory examinations, while also supporting the integration of AI-driven tools to enhance our KYC processes. This hands-on involvement will allow you to gain deep insights into JP Morgan Chase's enterprise-wide risk management practices and contribute to initiatives that protect clients and the firm from illicit activities. We value associates who bring a blend of technical expertise and a proactive mindset to tackle complex challenges in the financial services landscape. This position is ideal for professionals passionate about compliance and risk, offering exposure to senior leadership and opportunities for career growth within JP Morgan Chase's dynamic Risk Management division. Join us in Jersey City to help safeguard our operations and uphold our reputation as a trusted financial leader.

Key Responsibilities

• Support the development and implementation of AML and KYC models within the Model Risk Program
• Conduct model risk assessments and validations to ensure compliance with regulatory standards
• Collaborate with compliance teams to monitor and report on AML/KYC program effectiveness
• Analyze data and identify potential risks related to money laundering and customer due diligence
• Assist in the documentation and remediation of model-related findings
• Participate in regulatory exams and internal audits related to AML/KYC
• Contribute to the enhancement of model governance frameworks at JP Morgan Chase
• Liaise with technology and data teams to integrate AML/KYC models into operational systems
• Stay updated on evolving AML regulations and advise on program adjustments
• Support training initiatives for associates on model risk and compliance best practices

Required Qualifications

• Bachelor's degree in Finance, Business Administration, Risk Management, or a related field
• Minimum of 2-3 years of experience in compliance, anti-money laundering (AML), or Know Your Customer (KYC) within the financial services industry
• Strong understanding of regulatory requirements such as BSA/AML, OFAC, and FinCEN guidelines
• Experience with model risk management frameworks in a banking environment
• Proficiency in data analysis tools and compliance software
• Ability to obtain relevant certifications such as CAMS (Certified Anti-Money Laundering Specialist) or equivalent
• U.S. work authorization and ability to work in Jersey City, NJ

Preferred Qualifications

• Advanced degree (Master's or MBA) in a relevant discipline
• Prior experience at a major financial institution like JP Morgan Chase
• Knowledge of model validation processes for AML/KYC models
• Familiarity with JP Morgan's internal compliance systems and tools
• Experience in cross-functional teams involving risk and audit

Required Skills

• Knowledge of AML/KYC regulations and model risk management
• Data analysis and interpretation using tools like SQL or Python
• Regulatory compliance and reporting expertise
• Attention to detail and analytical thinking
• Strong communication and stakeholder management skills
• Proficiency in Microsoft Office Suite (Excel, PowerPoint)
• Understanding of financial modeling and validation techniques
• Risk assessment and mitigation strategies
• Team collaboration and project management abilities
• Adaptability to fast-paced financial services environment
• Ethical judgment and integrity in handling sensitive data
• Familiarity with banking systems and transaction monitoring
• Problem-solving and critical thinking
• Time management and prioritization skills
• Basic knowledge of machine learning applications in compliance

Benefits

• Competitive base salary and performance-based annual bonuses
• Comprehensive health, dental, and vision insurance plans
• 401(k) retirement savings plan with company matching contributions
• Generous paid time off, including vacation, sick days, and parental leave
• Professional development programs and tuition reimbursement for relevant certifications
• Employee stock purchase plan and access to financial wellness resources
• On-site fitness centers and wellness programs at JP Morgan Chase facilities
• Flexible work arrangements and commuter benefits for Jersey City location

JP Morgan Chase is an equal opportunity employer.