3 days old

JPMorgan Chase & Co.
Jersey City, NJ 07302
  • Job Code

Corporate – Model Risk Governance & Review – Model Manager – VP

Job Description

Model Risk Governance & Review (MRGR) is a Corporate Risk team within JPMC with the responsibility for developing and implementing the Firmwide Model Risk Management (MRM) framework across the firm. The Model Governance Group (MGG) within MRGR is the first point of contact for the model developing teams on Model Risk.  MGG interacts regularly with Model Review Group (MRG) within MRGR and other groups including: Risk, Finance, Compliance, Controls, Model Development, and Audit.
Key responsibilities for a Model Manager include independent reviews of models, ongoing model performance monitoring, model change control, regular communication with the LoB on key model risk issues, maintaining the firmwide model inventory database and participating in discussions with regulators on model risk. 
Model Manager Responsibilities include the following:
  • Perform independent reviews of models from CCB businesses such as Mortgage Banking, Card Services, Consumer & Business banking etc.
  • Work with other groups such as the Model Review Group, Market Risk, Finance, Fair Lending, Technology and Audit to ensure that model risk is understood, captured, monitored and managed
  • Assist in managing Model Risk by ensuring that the model exposure, market conditions, model limitations and scope of usage are not materially different from the approved model
  • Build and ensure right level of model controls. In particular:
    • Ensure model information is captured accurately in the Firmwide Enterprise Model Database (EMD)
    • Evaluate periodic testing assumptions and results. Ensure models have adequate and reliable back-testing processes in place and monitor ongoing model performance for errors and failures and ensure that their resolutions are sound
    • Ensure right level of operational controls are in place for the models
  • Work across the organization to ensure consistency of model assumptions and applications
  • Work with the business to conduct Annual Model Confirmation (AMC) to ensure complete and accurate model inventory
  • Act as the first stop in the model risk management process for model changes, waivers and developing new models
  • Perform Annual Model Status Assessment (ASA) by evaluating critical information around model tires, conceptual soundness, performance, age of model and other factors.
  • Provide inputs into Firmwide Model Risk Policy and Procedures.
  • Responding to model related inquiries from audit and regulators.

  • Strong quantitative skills. At a minimum, a masters degree in Statistics, Mathematics, Operations Research, Physics, or a quantitative science. Coding skills in common languages.
  • Familiarity with Consumer Banking (Credit Cards, Banking, Mortgage, Student & Auto Loans) products and business processes.   
  • Minimum of 5 years of cumulative experience in either of the following areas:
    • Model development
    • risk management function, model governance or model review
  • Excellent communications skills – Verbal and Written
  • Team work oriented – active collaborator and self starting individual with a record of delivery
  • Self-evident interpersonal skills with the proven ability to influence and achieve alignment across a range of different opinions and interests
  • Strong project management and organizational skills with a Risk & Control mindset
  • Ability to ask the right questions and escalate issues to relevant stakeholders
  • Proficient in MS Word, Excel, PowerPoint and Access

Req #: 190095461
Location: Jersey City, NJ US
Job Category: Accounting/Finance/Audit/Risk
Employment Type: Full Time
Potential Referral Amount: 5000 US Dollar (USD)

Keyword: card%20services


Posted: 2020-01-14 Expires: 2020-02-13

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JPMorgan Chase & Co.
Jersey City, NJ 07302

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