Job Description
Are you looking for an exciting opportunity to join a dynamic and growing team in a fast paced and challenging area? This is a unique opportunity for you to work in our team to partner with the Business to provide a comprehensive view.
As a Risk Associate Market Risk within Corporate Risk Management, reporting to the Firm's Chief Risk Officer, you will part of team which identifies, measures, monitors and controls market risk. Market risk management seeks to facilitate efficient risk / return decisions, reduce volatility in operating performance and ensure that the firm's market risk profile is transparent to senior management, the Board of Directors and regulators. Firmwide Market Risk works closely with the Market Risk teams aligned to each Line of Business as well as other partner teams (e.g., Wholesale Credit Risk, Liquidity Risk, Country Risk, Investment Risk, etc.).The group is a part of Market Risk Management and manages Stress Testing for the Firm. Working in close coordination with all risk functions, including Market Risk Coverage across different Lines of Businesses throughout the firm and other functions such as Wholesale Credit Risk, Liquidity Risk, Country Risk and Investment Risk, the Stress team is responsible for:
Job Responsibilities
- Own, maintain and lead the improvement of the stress testing framework, which includes defining shocks across asset classes and risk factors, defining macro scenarios, and analyzing the results of the analysis versus imposed limits.
- Respond to regulatory requests from Federal Reserve Bank (FRB), Office of the Comptroller of the Currency (OCC), Prudential Regulation Authority (PRA) and other Agencies. We are the point of contact for the Market Risk contribution to the Comprehensive Capital Analysis and Review (CCAR) and Risk Appetite of the Firm.
- Understand the assumptions made and the limitations of the methodology and improving the process, documentation and controls.
- Manage the technology that serves as a central repository for stress testing that communicates with systems in each Line of Business. There is a continuous need to improve the infrastructure as stress testing evolves.
- Own, develop and maintain firmwide Market Risk stress testing methodology, including but not limited to shock design, documentation, governance and review.
- Own the asset class FSI shock Qualitative Model (QM) and relevant governance, partnering with asset class experts and Model Risk Governance and Review (MRGR)
- Develop, implement and oversee stress related technology process and controls, including both BAU enhancement and strategic infrastructure.
- Drive the Market Risk stress testing data science and strategic infrastructure initiatives to modernize stress calculation - partnering across teams in Market Risk Management, Quantitative Research, Technology, Product Management and Data Science groups - leveraging the firm's robotics, machine learning and AI programs.
- Manage Trading Issuer Default Loss (IDL) submission for quarterly internal Risk Appetite and external regulatory exercises such as CCAR. Verify, analyze, and interpret Trading IDL calculation inputs and outputs, and perform impact analysis based on methodology and regulatory rules.
- Identify and mitigate operational risks and work towards streamlining and optimizing process efficiency, explain capabilities, and controls
- Collaborate closely with Internal / external control and audit teams to ensure effective risk management practices and support audit processes.
Required qualifications, capabilities, and skills
- Bachelor's degree with Minimum 4 years work experience in the financial industry
- Strong quantitative and analytical background with existing knowledge of financial markets and complex financial product valuation along with a deep understanding of trading strategies / exposures for one asset class; experience across various asset classes .
- Knowledge of risk sensitivities on financial products including Option Greeks and an understanding of financial product valuation and explanation
- Advanced skills in analyzing large datasets using Excel, Tableau or other software
- Prior experience of working with technology teams on risk system enhancements / infrastructure projects and performing user acceptance testing; experience with JPM risk systems.
- Strong control and risk management mindset while still driving process enhancement and improvements
- Proven strong project leadership skills, business writing skills and communication skills to drive initiatives to completion and lead discussions across multiple stakeholder teams
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
J.P. Morgan's Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
