Risk Management - Model Risk Vice President

Location: New York, NY, United States

Job Family: Predictive Science

About the Role

At JPMorgan Chase, we are at the forefront of financial innovation, and our Risk Management teams play a pivotal role in safeguarding the firm against complex risks in a dynamic global market. As a Model Risk Vice President in the Predictive Science category, you will be integral to our Model Risk team, focusing on the rigorous assessment of sophisticated pricing models used across our trading, investment banking, and asset management divisions. Based in our New York headquarters, this role involves evaluating models for accuracy, soundness, and alignment with diverse financial products, ensuring they withstand regulatory scrutiny and support sound business decisions. You will contribute to maintaining the integrity of our predictive analytics, leveraging cutting-edge quantitative techniques to mitigate model-related risks in an ever-evolving financial landscape. Your primary focus will be on independent validation of pricing models for instruments like derivatives and structured securities, identifying weaknesses in assumptions or methodologies that could impact profitability or compliance. Collaborating closely with quants, traders, and senior risk officers, you will perform in-depth analyses, including back-testing and stress scenarios, while adhering to JPMorgan Chase's stringent governance standards and regulations such as SR 11-7. This position demands a blend of technical expertise and strategic insight, as you advise on model enhancements and escalate potential issues to executive leadership, ultimately protecting the firm's reputation and financial stability. JPMorgan Chase values professionals who thrive in collaborative, high-stakes environments and are committed to excellence in risk management. In this role, you will have opportunities to influence firm-wide initiatives, mentor emerging talent, and engage with advanced technologies shaping the future of finance. If you are a seasoned expert passionate about quantitative risk and ready to drive impactful outcomes at one of the world's leading financial institutions, join us in New York to help shape the next generation of model risk practices.

Key Responsibilities

• Lead the assessment and validation of complex pricing models to ensure accuracy, robustness, and alignment with underlying financial products
• Perform independent reviews of model assumptions, methodologies, and outputs, identifying potential risks and limitations
• Collaborate with model developers, traders, and risk stakeholders to enhance model suitability and compliance with JPMorgan Chase's risk standards
• Develop and implement model risk governance frameworks, including documentation, testing, and ongoing monitoring
• Conduct sensitivity analyses, back-testing, and benchmarking of models against market data and industry standards
• Advise senior management on model risk exposures and recommend mitigation strategies
• Ensure adherence to regulatory requirements such as those from the Federal Reserve and OCC in model risk management
• Contribute to the firm's predictive science initiatives by integrating advanced analytics into risk assessment processes
• Mentor junior analysts and foster a culture of risk awareness within the team
• Stay abreast of emerging trends in financial modeling and regulatory changes impacting JPMorgan Chase's operations

Required Qualifications

• Bachelor's degree in Finance, Mathematics, Statistics, Economics, or a related quantitative field; advanced degree (Master's or PhD) preferred
• Minimum of 7-10 years of experience in model risk management, quantitative analysis, or risk assessment within the financial services industry
• Proven expertise in assessing and validating complex pricing models for financial products such as derivatives, structured products, or fixed income securities
• Strong understanding of regulatory frameworks including SR 11-7, OCC guidelines, and Basel III requirements for model risk
• Experience with model development, validation, and governance in a large financial institution
• Ability to work with cross-functional teams in a fast-paced environment
• Professional certifications such as FRM (Financial Risk Manager) or CFA (Chartered Financial Analyst) are highly desirable

Preferred Qualifications

• Advanced experience in pricing models for exotic derivatives or complex structured products at a major bank
• Familiarity with JPMorgan Chase's internal model risk policies and tools
• Prior leadership role in model validation teams
• Knowledge of machine learning applications in financial modeling
• Experience with stress testing and scenario analysis under regulatory scrutiny

Required Skills

• Proficiency in quantitative modeling and statistical analysis
• Expertise in programming languages such as Python, R, MATLAB, or C++ for model implementation
• Deep knowledge of financial instruments including options, swaps, and bonds
• Strong analytical and problem-solving abilities
• Excellent communication skills for presenting complex findings to non-technical stakeholders
• Attention to detail in reviewing model documentation and code
• Risk assessment and validation techniques
• Regulatory compliance and audit experience
• Team collaboration and leadership
• Time management in high-pressure environments
• Data visualization tools like Tableau or Excel advanced functions
• Understanding of stochastic processes and numerical methods
• Adaptability to evolving market conditions
• Ethical judgment in risk decision-making
• Project management for validation workflows

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 programs and tuition reimbursement for advanced education
• Employee stock purchase plan and other financial wellness benefits
• On-site fitness centers, wellness programs, and mental health support
• Global mobility opportunities within JPMorgan Chase's international network

JP Morgan Chase is an equal opportunity employer.