Risk Management - Model Risk Program Associate

Location: New York, NY, 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 managing risks effectively to support our clients and stakeholders. The Risk Management - Model Risk Program Associate role within our Corporate & Investment Bank division plays a critical part in upholding the integrity of our quantitative models used in decision-making processes. Based in New York, NY, this associate-level position involves supporting the implementation of robust model risk management frameworks that comply with stringent regulatory standards such as those from the Federal Reserve and OCC. As part of a dynamic team, you will contribute to ensuring that models across various asset classes and business lines are accurately validated, monitored, and governed to mitigate potential risks and enhance overall firm resilience. In this role, you will collaborate closely with model developers, risk analysts, and senior leadership to perform independent validations, assess model limitations, and recommend improvements. Responsibilities include conducting performance monitoring, preparing detailed risk reports, and participating in the firm's model governance committee activities. You will leverage your quantitative expertise to evaluate model methodologies, ensuring they align with JP Morgan Chase's enterprise risk appetite and internal policies. This position offers exposure to cutting-edge financial technologies and the opportunity to influence risk strategies that impact our global operations, all while working in a supportive environment that values innovation and professional growth. We seek candidates who are passionate about financial risk management and eager to advance their careers at one of the world's most respected institutions. Joining JP Morgan Chase means becoming part of a culture that prioritizes integrity, diversity, and excellence. This role not only provides a platform to apply your skills in a high-impact setting but also offers pathways for advancement within our comprehensive risk management organization. If you thrive in a fast-paced, intellectually stimulating atmosphere and are committed to regulatory excellence, we encourage you to explore this opportunity to contribute to our mission of powering the progress of the financial world.

Key Responsibilities

• Assist in developing and implementing model risk management frameworks to ensure alignment with JP Morgan Chase's enterprise risk policies and regulatory standards
• Conduct model validation and testing activities, including independent reviews of model assumptions, methodologies, and outputs
• Collaborate with model developers, business units, and risk stakeholders to identify and mitigate model risks across credit, market, and operational portfolios
• Monitor ongoing model performance and prepare reports on model risk exposures for senior management and regulatory submissions
• Support the documentation and governance processes for model inventory, including updates to model policies and procedures
• Analyze regulatory changes and industry best practices to recommend enhancements to the model risk program
• Participate in cross-functional projects to integrate model risk considerations into new product development and business initiatives
• Ensure compliance with internal controls and audit requirements related to model risk management
• Contribute to training and awareness programs on model risk for associates within the firm

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 financial modeling within the banking or financial services industry
• Strong understanding of regulatory frameworks such as SR 11-7, OCC guidelines, and Basel III requirements for model risk management
• Proficiency in quantitative analysis and statistical modeling techniques
• Excellent analytical and problem-solving skills with attention to detail
• Ability to work collaboratively in a team environment and communicate complex concepts effectively

Preferred Qualifications

• Advanced degree (Master's or PhD) in a quantitative discipline such as Financial Engineering or Data Science
• Experience with model risk management at a large financial institution, preferably in a regulatory compliance role
• Familiarity with JP Morgan Chase's internal risk management systems and tools
• Certification in risk management (e.g., FRM or PRM)

Required Skills

• Quantitative analysis and statistical modeling
• Model validation and risk assessment techniques
• Regulatory compliance knowledge (SR 11-7, Basel III)
• Proficiency in programming languages like Python, R, or SAS
• Data analysis and visualization tools (e.g., Excel, Tableau)
• Financial modeling and forecasting
• Strong written and verbal communication
• Attention to detail and accuracy
• Problem-solving and critical thinking
• Project management and organizational skills
• Team collaboration and stakeholder management
• Understanding of financial markets and instruments
• Risk identification and mitigation strategies
• Report writing and presentation skills
• Adaptability to evolving regulatory environments

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 access to internal training programs
• Employee stock purchase plan and financial wellness resources
• On-site fitness centers and wellness programs at JP Morgan Chase facilities
• Flexible work arrangements, including hybrid options for eligible roles

JP Morgan Chase is an equal opportunity employer.