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Internship Model Risk Governance Jobs in New York

DTCC

Model Validation Senior Associate

Jersey City, NJ · On-site

Prepare model validation and review presentations to the Model Risk Governance Council (MRGC) meetings for model approval, model issue tracking, and resolution. * Present model validation, review ...

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Internship Model Risk Governance information

What is the difference between Internship Model Risk Governance vs Model Risk Analyst?

AspectInternship Model Risk GovernanceModel Risk Analyst
CredentialsTypically pursuing or recent graduate, some familiarity with risk managementOften requires relevant certifications or experience in risk analysis
Work EnvironmentInternship setting, supervised, learning-focusedFull-time, analytical, risk assessment-focused
Employer & IndustryFinancial institutions, banks, asset managersFinancial services, banking, investment firms

Internship Model Risk Governance roles are entry-level, focusing on supporting risk governance processes under supervision, ideal for students or recent graduates. Model Risk Analysts are more experienced, responsible for analyzing and managing model risks independently. Both roles are vital in financial risk management but differ in experience level and responsibilities.

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Internship Model Risk Governance jobs near you
Risk Management - Model Risk Program Associate

Risk Management - Model Risk Program Associate

JPMorgan Chase & Co

Manhattan, NY

Full-time

Medical, Retirement

Posted 25 days ago

JPMorgan Chase & Co. rating

8.1

Company rating: 8.1 out of 10

Based on 470 frontline employees who took The Breakroom Quiz

46th of 141 rated banks

Job description

Bring your expertise to JPMorganChase. As part of Risk Management and Compliance, you play a crucial role in maintaining JPMorganChase's strength and resilience. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.

As a Quant Model Risk Associate in the Model Risk Governance and Review team, you will be responsible for assessing and mitigating the risks associated with complex models used across a space that includes models used for Corporate and Industrial Wholesale loan loss forecasting, Obligor Grading, Economic Capital and related BAU activities for wholesale credit risk. You'll be at the forefront of innovation, driving continuous improvement in a dynamic and collaborative environment. This role also provides the opportunity to gain exposure to various business and functional areas, as well as collaborate closely with model developers and users.

Job Responsibilities

  • Perform thorough reviews of complex models used in Corporate and Industrial Wholesale Credit Risk, including loss forecasting, obligor grading and economic capital models by analyzing the conceptual soundness, model design, and appropriateness of models for specific products and structures.
  • Evaluate model behavior and ensure the suitability of loan loss forecasting and obligor grading models for their intended applications, identifying potential limitations and areas for improvement.
  • Develop and implement alternative model benchmarks. Design and maintain robust model performance metrics to compare and monitor the outcomes of various models.
  • Continuously evaluate model performance, ensuring models remain fit for purpose and compliant with internal and regulatory standards. Recommend enhancements and oversee remediation where necessary.
  • Serve as the primary point of contact for the business regarding new model implementations and changes to existing models. Provide expert guidance on model usage, limitations, and governance requirements.

  • Liaise effectively with model developers, Risk, and Control Groups. Offer guidance and support on model risk management, validation standards, and regulatory expectations.

Required Qualifications, Capabilities and Skills 

  • Advanced degree (MSc, PhD, or equivalent) in a quantitative discipline such as mathematics, statistics, financial engineering, or related field.
  • Advanced knowledge of statistics, econometrics, economics and finance, with demonstrated ability to apply these concepts to financial modeling and risk assessment.
  • Deep understanding of credit risk quantitative models for loss forecasting and obligor grading, including familiarity with wholesale credit.
  • Strong analytical and problem-solving skills, with an inquisitive mindset and the ability to formulate insightful questions, identify model limitations, and escalate issues appropriately.
  • Excellent written and verbal communication skills, with the ability to clearly explain complex quantitative concepts to both technical and non-technical stakeholders.
  • Proficient programming skills in languages such as Python or similar, with experience implementing numerical algorithms and developing model prototypes.
  • Demonstrated curiosity and ownership, with a strong willingness to work collaboratively within a team-oriented environment.

  • One plus years' experience in model development or in model review, validation, and governance within financial services, with a strong understanding of loan loss forecasting models.

Preferred Qualifications, Capabilities and Skills 

  • Experience in Corporate and Industrial Wholesale Credit risk.
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

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.

Risk Management helps the firm understand, manage and anticipate risks in a constantly changing environment. The work covers areas such as evaluating country-specific risk, understanding regulatory changes and determining credit worthiness. Risk Management provides independent oversight and maintains an effective control environment.

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