JPMorgan Senior Internal Audit Associate - Model Risk 

United States, New Jersey, Jersey City 

692296959

As a Senior Associate you will directly interact with model development and model validation quants in a dynamic setting working closely with Front Office Trading Desks, Desk Quants or Model Developers and Risk and Finance professionals across all lines of businesses to perform control assessments for the firm’s global model risk management framework covering model development, model reviews, model usage, policies and procedures along with evaluating ongoing model performance testing and model change management processes.

Job Responsibilities

• Directly work with quants covering the Trading Desks, Risk and Finance professionals, LOB senior management across the globe to provide oversight of appropriate usage, controls around model restrictions & limitations, and findings for ongoing performance assessment & testing
• Manage and execute audit projects and produce quality deliverables to both department and professional standards.
• Finalize and communicate audit findings to management and identify opportunities for improvement in the design and effectiveness of key controls
• Perform model risk control assessments and analysis against the risk the controls are intended to mitigate, determine their effectiveness and develop an independent opinion on the control environment along with recommendations (across all LOB and a wide range of model types) to further strengthen the model risk management control framework
• Maintain an independent model risk control apparatus of the bank through directly working with internal clients (LOB business management, and control groups including but not limited to model development, model review, risk management and compliance) and external clients such as external auditors and regulators.
• Manage/support and execute strategic risk and control assessments along with strategic projects (e.g. capital stress testing) in a timely and efficient manner
• Keep up with the latest developments in coverage area in terms of products, markets, models, risk management practices and industry standards

Required qualifications, capabilities and skills

• 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 Mathematics, Science, Economics, Engineering, Quantitative Finance, etc.
• Excellent communication (written and verbal) 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 complex and sensitive issues to senior management
• Strong track record of applying critical thinking and analytical skills to identify, solve a variety of business problems including model risk management and assessing the impact of a control weakness.
• Strong leadership skills with the ability to establish credibility working across cross-functional teams to drive and influence change

Preferred qualifications, capabilities and skills

• Prior experience preferred but not required in the following fields: Quantitative Model Development, Model Validation, Machine Learning or Financial Services industry etc.