Model Risk Analyst/Associate

Job Description
Are you ready to make a significant impact in the world of model risk management? At the Model Risk Governance and Review Group (MRGR), we are at the forefront of assessing and mitigating model risk across the globe. With a presence in major financial hubs such as New York, London, Mumbai, Hong Kong, and Paris, our team collaborates with top professionals in Risk, Finance, and Model Development. This is your chance to work in a dynamic environment, gain exposure to various business areas, and contribute to critical decision-making processes.
As a Model Risk Analyst/Associate in the Model Risk Governance and Review team, you will play a crucial role in reviewing derivative models and enhancing model risk governance. You will collaborate with model developers, trading desks, and risk professionals to ensure the soundness and suitability of complex pricing models. Together, we will drive innovation and maintain robust model risk controls.
Job responsibilities

• Assess the conceptual soundness of complex pricing and electronic market making models.
• Develop and implement alternative model benchmarks and performance tests.
• Liaise with model developers, trading desks, and risk professionals to provide guidance on model risk and usage.
• Maintain model risk control apparatus and serve as the first point of contact for the coverage area.

Required qualifications, capabilities, and skills

• Education: Bachelor's, Master's or PhD in a quantitative field (e.g., Mathematics, Statistics, Computer Science, Engineering, Physics).
• Bachelor's degree with 3-5 years, Master's degree with 2-4 years, or PhD with 0-2 years of experience in quantitative models for derivatives and/or electronic market making.
• Excellence in probability theory, stochastic processes, statistics, and numerical analysis.
• Strong understanding of option pricing theory and quantitative models for derivatives.
• Experience with Monte Carlo simulation and numerical methods, familiarity with calibration techniques and performance benchmarking.
• Strong analytical problem-solving skills and clear written/verbal communication, ability to articulate technical issues to diverse stakeholders.
• Proficiency in Python, SQL and C/C++ programming.
• Curious, ownership-driven, and teamwork-oriented mindset.

Preferred qualifications, capabilities and skills

• Prior model validation or front-office quant experience in pricing, risk, or electronic market making models.

About Us
JPMorganChase, 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 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.
About the Team
Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we're setting our businesses, clients, customers and employees up for success.
Risk Management helps the firm understand, manage and anticipate risks in a constantly changing environment. The work covers areas such as evaluating country-specific risk, understanding regulatory changes and determining credit worthiness. Risk Management provides independent oversight and maintains an effective control environment.