As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities.  Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.

As a Quant Model Risk Associate within our Risk Management team, you will be responsible for assessing and mitigating the risks associated with complex models used for valuation, risk measurement, capital calculation, and decision-making purposes. This role also provides the opportunity to gain exposure to various business and functional areas, as well as collaborate closely with model developers and users. Less experienced candidates might be considered Analyst. 

Job responsibilities

Carries out model reviews: analyze conceptual soundness of complex pricing models, engines, and reserve methodologies; assess model behavior and suitability of pricing models/engines to particular products/structuresProvides guidance on model usage and act as first point of contact for the business on all new models and changes to existing modelsDevelop and implement alternative model benchmarks and compare the outcome of various models; Design model performance metricsDocument the model review findings and communicate them to stakeholdersLiaises with model developers, Risk and Valuation Control Groups and provide guidance on model riskEvaluates model performance on a regular basis

Required qualifications, capabilities, and skills

Minimum of a Master's degree in Quantitative Finance, Mathematics, Physics or a related disciplineExcellence in probability theory, stochastic processes, statistics, and numerical analysisStrong understanding of option pricing theory and quantitative models for derivativesExperience with Monte Carlo and numerical methodsStrong analytical and problem-solving abilitiesGood coding skills, for example in C/C++ or PythonInquisitive nature with excellent communication skillsTeamwork-oriented mindset

Preferred qualifications, capabilities, and skills

Experience with pricing derivativesExperience in a front office or model risk quantitative role