Risk Management - Model Risk Program Associate

Location: Jersey City, NJ, United States

Job Family: Predictive Science

About the Role

At JP Morgan Chase, we are a leading global financial services firm with a strong commitment to innovation and risk management. The Risk Management - Model Risk Program Associate role in our Predictive Science team is pivotal in safeguarding the integrity of our quantitative models used across banking, investment, and asset management divisions. Based in Jersey City, NJ, this position involves supporting the implementation of robust model risk frameworks to ensure compliance with key regulatory standards such as SR 11-7 and OCC guidelines. As part of a dynamic team, you will contribute to validating predictive models that drive critical decisions in credit risk, market risk, and operational resilience, helping to mitigate potential financial exposures in a complex global marketplace. In this role, you will collaborate closely with quants, data scientists, and business leaders to assess model performance, identify limitations, and recommend enhancements. Responsibilities include conducting independent validations, monitoring model outputs against real-world scenarios, and preparing detailed reports for regulatory submissions and internal audits. You will play a key role in maintaining JP Morgan Chase's model inventory, ensuring all models align with enterprise risk policies and evolving industry standards like Basel III. This position offers exposure to cutting-edge predictive technologies while emphasizing the importance of governance in preventing model-related failures that could impact our clients and the broader financial system. We seek candidates passionate about quantitative finance and risk mitigation, with a solid foundation in statistics and regulatory knowledge. Joining JP Morgan Chase means becoming part of a world-class institution that values diversity, innovation, and professional growth. This role provides opportunities to advance your career in risk management, with access to mentorship from industry experts and involvement in high-impact projects that shape the future of financial services.

Key Responsibilities

• Assist in developing and implementing model risk management frameworks to ensure compliance with regulatory standards like SR 11-7
• Conduct model validation and testing for predictive models used in credit, market, and operational risk
• Collaborate with model developers and business units to identify and mitigate model risks
• Prepare documentation and reports on model performance and risk assessments for senior management and regulators
• Monitor ongoing model performance and recommend adjustments based on emerging risks
• Support the annual model inventory review and risk rating processes
• Participate in cross-functional projects to integrate model risk into broader enterprise risk management
• Ensure adherence to JP Morgan Chase's internal governance standards for model usage
• Analyze data to support model risk quantification and scenario testing
• Contribute to training and awareness programs on model risk best practices

Required Qualifications

• Bachelor's degree in Finance, Mathematics, Statistics, Economics, or a related quantitative field
• Minimum of 2-3 years of experience in risk management, model validation, or quantitative analysis within the financial services industry
• Strong understanding of regulatory requirements such as SR 11-7, OCC guidelines, and Basel III frameworks
• Proficiency in statistical modeling and data analysis techniques
• Experience with model risk assessment and governance processes
• Ability to work collaboratively in a team environment and manage multiple priorities
• Excellent written and verbal communication skills for reporting to senior stakeholders

Preferred Qualifications

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

Required Skills

• Statistical analysis and modeling (e.g., regression, time-series)
• Proficiency in programming languages like Python, R, or SAS
• Data visualization tools such as Tableau or Power BI
• Knowledge of financial risk metrics (VaR, stress testing)
• Regulatory compliance and reporting expertise
• Quantitative problem-solving and analytical thinking
• Attention to detail and accuracy in documentation
• Project management and organizational skills
• Strong interpersonal and communication abilities
• Adaptability to fast-paced financial environments
• Understanding of machine learning algorithms
• Excel advanced functions and VBA scripting
• Risk assessment and validation methodologies
• Team collaboration and stakeholder management
• Ethical judgment in handling sensitive financial data

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 opportunities, including tuition reimbursement and internal training programs
• Employee stock purchase plan and financial wellness resources
• On-site fitness centers and wellness programs at JP Morgan Chase locations
• Flexible work arrangements, including hybrid options in Jersey City, NJ

JP Morgan Chase is an equal opportunity employer.