• JP Morgan Chase - Associate - Model Governance Group - Quality Assurance Team Jobs in Mumbai,India - 25283579

  • JPMorgan Chase

Job Description:


Financial Institutions routinely use models for a broad range of activities including estimating fair value of assets, identifying and measuring risk, hedging derivative positions, conducting stress testing, assessing capital adequacy, etc Model Risk arises from the potential adverse consequences of making decisions based on incorrect or misused model outputs and reports, leading to financial loss, poor business decision making, or reputational damage

As part of the firms model risk management function, Model Governance Group (MGG) is charged with performing model validation activities, providing guidance on a models appropriate usage in the business context, evaluating ongoing model performance testing, and ensuring that model users are aware of the model strengths and limitations The Quality Assurance Team within MGG leads various QA projects focusing on evaluating cross-consistency of model validation and governance activities across areas, and identifying gaps in the implementation of target state Model Risk Management Framework

Core responsibilities -

The successful candidate will be a member of the MGG QA team, and will focus on the following activities

- Maintain model documentation and review templates and related procedures in line with both regulatory guidance, and the firms model development and review standards

- Evaluate model documentation and reviews across a broad set of model types and business areas for consistency and adherence to current standards

- Perform independent sample testing of model risk related decisions by MRGR reviewers and model managers (eg model identification, tiering, materiality of changes, ongoing testing, etc)

- Identify implementation and process gaps relative to the strategic target state Model Risk Management framework

- Identify need for, and develop best practice guidelines and training materials related to Model Risk Management control practices


- Strong quantitative & analytical skills The role requires a strong quantitative background based on a PhD or Masters Degree (or equivalent) in a quantitative discipline such as Math, Science, Economics, Engineering, Quantitative/Math Finance, etc

- Knowledge of various modeling techniques and breadth of experience across model types, asset classes and business areas (retail, wholesale, capital markets)

- Strong communication skills and ability to interface with other functional areas in the bank on model-related issues

- Risk and control mindset ability to ask incisive questions, converge on critical matters, assess materiality and escalate issues

Profile Summary:

Employment Type : Full Time
Salary : Not Mentioned
Deadline : 01st Jun 2020

Key Skills:

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