Risk Management - Emerging Risks Senior Associate

Key Skills

Planning and organization, Design, Management, Aartificial intelligence, Machine learning techniques, Data Analytics, Effective communication skills

Job Description

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.

MRGR is a global team of modeling experts within the firm’s Risk Management and Compliance organization. The team is responsible for conducting independent model validation and model governance activities to help identify, measure, and mitigate Model Risk in the firm. The objective is to ensure that models are fit for purpose, used appropriately within the business context for which have been approved, and that model users are aware of the model limitations and how they could impact business decisions.

The MRGR Policy, Practice and Governance (PPG) team covers the model risk management framework for all model classes across the firm. While our framework and processes are mature and tested by time, new risks emerge in the industry, especially in the fast-evolving Artificial Intelligence and Machine Learning (AI/ML) space. As a Senior Associate in the Emerging Risks, Practice and Assessment team, you will support the implementation of new governance and risk frameworks, both firmwide and internally within MRGR, in support of the firm’s expansion into AI/ML models.

Job Responsibilities

• Collaborate with stakeholders across the firm to identify new and evolving AI/ML practices, and evaluate whether the existing governance framework (model risk management policy, procedures and standards) sufficiently addresses the emerging risks
• Support the pipeline of potential AI/ML use cases, in collaboration with the Chief Data Analytics Office (CDAO), Compliance and Operational Risk (CCOR) and line of business partners, and provide visibility to MRGR management and key stakeholders
• In partnership with the PPG team, establish a framework for new classifications of models and tools
• Where the framework needs to be enhanced, support the implementation of the enhancements in collaboration with stakeholders within MRGR and across the firm
• Engage with stakeholders on controls and process design, especially where an interdisciplinary approach is needed, and identify opportunities for process optimization
• Develop and prepare communications for senior management and regulators about the emerging risks and mitigation strategies.

Required Qualifications, Skills and Capabilities

• Undergraduate or Master’s degree in economics, finance, computer science or another quantitative discipline
• 3+ years of experience in risk management, technology, model development or model risk roles
• Keen understanding of risk governance, and ability to navigate a complex organization
• Experience working with regulators and senior stakeholders. Exceptional influencing and process design skills.
• Experience with change management and build-out of systems, processes and frameworks
• Exceptional communication skills, with the ability to interface with other functional areas in the firm. Ability to translate technical considerations into business risks, and communicate effectively in an interdisciplinary environment
• Risk and control mindset: ability to ask incisive questions, identify and assess risks
• Exceptional organization skills and understanding of corporate governance: ability to influence at scale, resolve uncertainty, and deliver results in a fast-paced, multidisciplinary environment

Additional Skills, Experience and Qualifications

• Experience in model review or model governance roles
• Experience with technology systems design

ABOUT US

JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set, and location. For those in eligible roles, we offer discretionary incentive compensation which may be awarded in recognition of firm performance and individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase is an Equal Opportunity Employer, including Disability/Veterans