SA/AssociateCentral Challenger CORPORATE Pillar - Model Risk Governance and Review

JPMorgan Chase & Co.
Experience : 3 Years
Education : CA, BE/B.Tech, MBA/PGDM, B.Com
Location : Bangalore
Job Role : Others
Posted on 19 Jun 19
Job DescriptionLast Date 18 Aug 19
SA/Associate_Central Challenger (CORPORATE Pillar) - Model Risk Governance and Review

Job Category: Accounting/Finance/Audit/Risk

Job Description:
  • Model Risk Governance & Review (MRGR) – Central Challenger Team (CCT) – Corporate - Senior Analyst/Associate
  • Model Risk Governance and Review (MRGR) is responsible for review and maintenance of estimation methodologies across the firm.
  • The Central Challenger team (CCT) within MRGR has a firm-wide purview for independently assessing and driving improvements in the following areas:
  • Qualitative models (QM) developed within various lines of business (LOBs) for the Firm’s Capital Stress Testing, Budget Forecasting and Resolution & Recovery processes. 
  • It also includes developing independent statistical models/analytical calculators to challenge LOB results.
  • Key financial calculations implemented through User Tools (i.g. Excel Spreadsheet, Access DB, VBA codes etc.) across the Firm, including those related to capital measurement, stress testing, external financial reporting, product valuations, and other high priority processes.
  • The team partners with the Corporate Capital Stress Testing team, Recovery & Resolution team, LOBs, Regulatory Policy, Financial Reporting, Economic Scenarios, Quantitative Research and various other Finance and Risk teams on various firm-wide initiatives.

Job Summary:
  • The primary role of Central Challengers is to (i) constructively challenge and improve existing forecasting methodologies used across the Firm and (ii) review implementation accuracy and soundness of financial calculations. 
  • The Associate will support Pillar Leads on qualitative model reviews. 
  • Ability to think critically, take ownership of the review process and communicate effectively (both spoken and written) are critical to this role. 
  • The individual will be responsible for conducting reviews to evaluate the accuracy and completeness of key regulatory reports. 
  • The reviews will be performed across all lines of businesses and corporate functions, covering high priority areas such as
  • CCAR/DFAST (FR Y14A/Q/M) and internal stress testing
  • Resolution & Recovery
  • Budget Forecasting Processes
  • Regulatory Capital/RWA reporting for Basel (FFIEC 101/102)
  • External financial reporting (e.g. 10K/10Q, Footnote disclosures, Call Report and FR Y-9C)
  • In the process, the individual will acquire invaluable insights into the key drivers of all businesses at JPM. 
  • The work involves partnering with Corporate and LOB functions, contributing financial and quantitative analyses, and creating presentations for senior management in their discussions with the Capital Governance and Operating Committee, the Board of Directors, and regulators.
  • The position involves interaction with many teams across finance and risk lines of business (front/middle/back office) and reporting groups.  The ability to work efficiently and communicate effectively across these boundaries will be one of the keys to success. 
  • The role and responsibilities of the successful candidate will be determined based on qualifications, prior experience and demonstrated skills.

Core Responsibilities:  
  • Work with the Review Leads to independently review/lead QM reviews and challenge key estimation methodologies, assumptions and analytics/tools used for firm-wide capital stress testing, resolution & recovery, budgeting and related processes
  • Review documentation of estimations and write assessment reports
  • Perform independent review of the Firm’s economic scenarios to be used in the annual ICAAP/CCAR cycles, as well as for CECL and IFRS
  • Participate in independent review of User Tools (UT) supporting key business functions with a focus on implementation accuracy, completeness, tool design and in select cases review conceptual soundness
  • Interact with teams across Finance and Risk functions, lines of business (front/middle/back office) and reporting groups.
  • Stay abreast of regulatory and industry requirements in finance / risk / accounting to manage reviews and changes in processes.
  • Develop analytical tools to challenge macroeconomic variable projections and LOB results
  • Develop expertize to challenge the inputs to Operational risk capital for the firm
  • Develop expertise across a broad spectrum of financial products & services (retail, wholesale and capital markets)
  • Report and present review inventory plans, status and findings to various stakeholders and leadership

Qualifications and Skills:
  • Graduate degree in finance, accounting, economics or MBA (undergraduate in a quantitative discipline such as Mathematics, Statistics, Engineering, or related quantitative field highly desired)
  • 3-6 years of experience in banking / financial services industry
  • Experience and strong knowledge in regulatory capital rules (Basel, CCAR, FR Y-9C)
  • Good understanding of risk concepts (Credit/ Market/ Liquidity/ Operational),measurement techniques and financial products
  •  Ability to perform and analyze regressions and time series analyses
  • A firm understanding of macroeconomics and key macroeconomic indicators (e.g. GDP, unemployment, interest rates, spreads, etc.)
  • The candidate must be a self-starter who is able to work in a fast paced, results driven environment and a good team player
  • Strong quantitative, analytical, and problem solving skills
  • Strong Excel skills required (VBA / SQL is a plus),proficient in MS Office
  • Outstanding presentation, reporting and communication skills with attention to detail
  • Strong organizational, communication (verbal and written) and negotiation skills
  • Risk Management and Control mindset (ability to identify control gaps and/or issues)
  • Inquisitive and intellectually curious, has extreme attention to detail

Qualifications considered an additional plus:
  • Background or experience with various models (including pricing, capital, and/or financial forecasting models) and the model development and maintenance life cycle.
  • Experience in statistical modelling software (SAS, R, etc.) and/or valuation experience
  • Certifications such as FRM, CFA, etc.
  • Knowledge of regulatory guidelines (SR 15-18, SR 11-7)

Location: Bangalore East, KA, IN
Job Type : Full Time
Interview Type : Face to Face Interview
Company Description
J.P. Morgan in India provides a comprehensive range of Corporate & Investment Banking, Commercial Banking, Asset & Wealth Management and Corporate functions services and solutions to our clients, executing some of the most important financial transactions and providing essential strategic advice to our clients such as the government, large domestic and multi-national corporations, non-government organizations and financial institutions and investors. India is a key market for JPMorgan Chase globally and our employees in India are a critical part of how we do business globally and are integrated within our businesses. Our Global Service Centers (GSCs) are strategically positioned in Mumbai, Bangalore and Hyderabad to support the firm’s operations regionally and globally. The centers provide comprehensive strategic support across technology and business operations processing to all lines of business and the corporate functions.