Full Time Risk Quant Jobs (NOW HIRING)

Job Description
DESCRIPTION:
Duties: Drive validation of forecasting models for consumer lending portfolio including Comprehensive Capital Analysis and Review (CCAR) and Current Expected Credit Loss (CECL) models. Drive validation of all models used in consumer lending portfolio such as underwriting, pricing, collateral evaluations, collection and recoveries. Assess consumer credit lending models by evaluating conceptual soundness, assumptions, input reliability, and outcomes. Design and execute tests for scenario analysis, loss forecasting, stability, and sensitivity for model components. Compare model outputs to empirical evidence, industry benchmarks, and historical consumer lending portfolio performance. Communicate validation results and model risk issues to Model Developers, Risk, Finance, Control teams, and Internal Audit. Prepare the fact base for communication with Bank regulators. Monitor model performance, document findings, and recommend improvements to ensure regulatory compliance and business relevance. Maintain and enhance model risk controls for consumer lending, escalate issues, and assess proposed resolutions. Apply SR 11-7: Guidance on Model Risk Management in all validation and governance activities. Educate junior team members in model review best practices including how to conduct independent testing.
QUALIFICATIONS:
Minimum education and experience required: PhD in Economics, Mathematics, Statistics, Data Science, Mathematical Finance, or related field of study plus 3 years of experience in the job offered or as Quant Modeling, Model Risk, Risk Advanced Analytics Specialist, or related occupation. The employer will alternatively accept a Master's degree in Economics, Mathematics, Statistics, Data Science, Mathematical Finance, or related field of study plus 5 years of experience in the job offered or as Quant Modeling, Model Risk, Risk Advanced Analytics Specialist, or related occupation.
Skills Required: This position requires three (3) years of experience with the following: Developing or validating models for financial institutions including stress test models, allowance models, and models used in consumer retail lending; Performing statistical analysis including logistic regression, multivariate regression, classification methods, cohort analysis, predictive modeling, quantitative analysis of time series and panel data using econometric methodologies and machine learning analysis including XGBoost, applied to consumer retail lending models; Designing, developing, and automating model validation quantitative analysis for consumer lending stress test and consumer retail models using SAS and Python, including coding scripts to extract, analyze, and visualize model results with Python libraries including pandas, numpy, pyspark, scikit-learn, and statsmodels; Reviewing model outputs, monitoring model performance, identifying model risk issues, and escalating findings for resolution in consumer lending; Ensuring compliance with CCAR, CECL, and SR 11-7 model risk management standards during model validation and review as applied to consumer lending products.
Job Location: 545 Washington Boulevard, Jersey City, NJ 07310.
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set, and location. For those in eligible roles, discretionary incentive compensation which may be 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. In addition, please visit: https://careers.jpmorgan.com/us/en/about-us.
Full-Time. Salary: $188,178 - $215,000 per year.
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 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
About the Team
Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we're setting our businesses, clients, customers and employees up for success.