JPMorganChase is a leading global financial services firm. Within Risk Management and Compliance, we help keep the firm strong and resilient by anticipating emerging risks and delivering best-in-class analytics.
As an Associate in Wholesale Credit Risk Quantitative Research, you will support the development and maintenance of credit risk models used in firmwide stress testing and loss forecasting frameworks, including CCAR, CECL, and IFRS 9. You will work with large-scale financial and macroeconomic datasets and partner with model risk governance/review, technology, data, finance, and lines of business stakeholders to deliver well-controlled, production-ready solutions. The position requires the knowledge/experience in quantitative modeling, preferably in wholesale credit risk models such as probability of default (PD), loss given default(LGD) and exposure at default (EAD) models.
Job Responsibilities
- Perform basic credit risk modeling both at single-obligor level and portfolio level.
- Support research, development, and ongoing enhancement of PD forecasting and rating migration models
- Analyze large financial/credit/macro datasets (panel and time-series), including data cleaning and feature construction
- Perform model testing, monitoring, diagnostics, and validation support analyses
- Partner with technology teams to maintain model libraries following the organization’s software development standards
- Prepare clear technical documentation and support internal governance and regulatory review requests
- Apply appropriate, interpretable AI/ML methods where suitable while maintaining strong controls and explainability
Required qualifications, capabilities and skills
- Master’s or Ph.D. in a quantitative discipline (e.g., Statistics, Econometrics, Economics, Math, Engineering, Computer Science, Finance, Physics)
- 1 plus years of relevant experience.
- Strong foundation in statistical/econometric modeling (e.g., GLMs, logistic regression, time-series forecasting; clustering, decision trees)
- Experience working with large datasets (especially panel/time-series) and strong data analysis skills
- Hands on Python programming
- Strong problem-solving, communication, and ability to manage multiple workstreams
- Experience producing technical documentation (including for governance/review)
Preferred Qualifications
- Exposure to wholesale credit risk and/or credit risk modeling (PD/LGD/EAD modeling strongly preferred)
- Experience with CCAR, CECL, and/or IFRS 9 modeling environments
- Knowledge of numerical methods (optimization/root finding) and/or large-scale computation (e.g., Monte Carlo, multi-core/HPC)
- Experience using AI/ML methods in risk contexts with attention to interpretability and governance
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of 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 & Co. is an Equal Opportunity Employer, including Disability/Veterans
Skills Required
- Master's or Ph.D. in a quantitative discipline such as Statistics, Econometrics, Economics, Mathematics, Engineering, Computer Science, Finance, or Physics
- At least 1 year of relevant experience
- Strong foundation in statistical or econometric modeling, including GLMs, logistic regression, time-series forecasting, clustering, and decision trees
- Experience working with large datasets, especially panel and time-series data
- Strong data analysis skills
- Hands-on Python programming experience
- Strong problem-solving and communication skills
- Ability to manage multiple workstreams
- Experience producing technical documentation for governance or review
- Exposure to wholesale credit risk or credit risk modeling, including PD, LGD, or EAD modeling
- Experience with CCAR, CECL, or IFRS 9 modeling environments
- Knowledge of numerical methods such as optimization or root finding
- Experience with large-scale computation, such as Monte Carlo, multi-core, or high-performance computing
- Experience using AI/ML methods in risk contexts with attention to interpretability and governance
JPMorganChase Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about JPMorganChase and has not been reviewed or approved by JPMorganChase.
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Healthcare Strength — Health coverage is considered comprehensive, including medical, dental, and vision, alongside wellness and mental health resources. Some locations add onsite health centers and related wellbeing support.
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Retirement Support — Retirement offerings include a 401(k)-type savings plan and related financial benefits, with options such as employee stock purchase participation. Financial planning resources are also highlighted to support long-term savings.
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Parental & Family Support — Paid parental leave of 16 weeks for birth or adoption is available for all parents. Child care and back-up child care resources further reinforce family support.
JPMorganChase Insights
What We Do
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.7 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Technology fuels every aspect of our company and is at the heart of everything we do. With over 50,000 technologists globally and an annual tech spend of $12 billion, we are dedicated to improving the design, analytics, development, coding, testing and application programming that goes into creating high quality software and new products. Learn more about technology at our firm, explore resources from our Distinguished Engineers, AI & ML researchers, and other experts; access the latest episode of our TechTrends podcast, and more at www.jpmorgan.com/technology. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com. ©2023 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase is an Equal Opportunity Employer, including Disability/Veterans.
Why Work With Us
Our technologists work on a diverse range of solutions that include strategic technology initiatives, big data, mobile, electronic payments, machine learning, cybersecurity, enterprise cloud development, and other state-of-the-art technologies.
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