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Probabilistic Risk Assessment Engineer Jobs in New Jersey

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Security Assessment Lead

Oklahoma City, OK

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

Bachelor's degree in Cyber Security, Computer Science, Information Technology, Engineering ... At least one of the following risk assessment or cybersecurity certifications: * Certified ...

Embrace HR LLC

$100K - $126K/yr

... risk assessments, reliability models, etc. Evaluates effectiveness of individual aspects of the ... Qualifications: * BS engineering discipline or equivalent experience required * 3-5 years of ...

Robert Half

Process Safety Manager

Princeton, NJ · On-site

$50 - $65/hr

Conduct and lead formal risk assessments, including HAZOP, PHA, LOPA, chemical risk assessments ... Bachelor's degree in Engineering, Chemistry, Environmental Health & Safety, or a related technical ...

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Probabilistic Risk Assessment Engineer information

What is a probabilistic risk assessment engineer?

A Probabilistic Risk Assessment (PRA) Engineer is a professional who evaluates the likelihood and potential consequences of risks in complex systems, often in industries such as nuclear power, aerospace, or chemical processing. They use quantitative methods and statistical models to analyze possible failure scenarios and their impacts, helping organizations make informed decisions about safety and reliability. PRA Engineers play a crucial role in identifying vulnerabilities, recommending risk mitigation strategies, and ensuring compliance with regulatory standards. Their work helps minimize the chances of catastrophic failures and improves overall system safety.

How does a probabilistic risk assessment engineer typically collaborate with other engineering and safety teams during a project?

Probabilistic Risk Assessment Engineers frequently work in multidisciplinary teams, collaborating closely with safety engineers, systems engineers, and project managers to analyze and mitigate potential risks. They provide quantitative risk assessments that inform design decisions, operational procedures, and regulatory compliance efforts. Regular meetings and data-sharing sessions are common, ensuring that risk insights are integrated throughout the project lifecycle. This collaborative environment enables effective communication of complex risk scenarios and fosters a culture of safety and continuous improvement.

What are the key skills and qualifications needed to thrive as a probabilistic risk assessment engineer, and why are they important?

To thrive as a Probabilistic Risk Assessment Engineer, you need a solid background in mathematics, statistics, and engineering principles, generally supported by a degree in engineering or a related field. Familiarity with specialized software such as SAPHIRE, RiskSpectrum, or CAFTA, as well as industry-specific standards and certifications like ASME or NRC guidelines, is typically required. Strong analytical thinking, attention to detail, and effective communication skills are essential for interpreting complex data and presenting findings to diverse stakeholders. These skills and qualifications are crucial for accurately assessing risks, ensuring regulatory compliance, and supporting the safety and reliability of critical systems.

What is the difference between Probabilistic Risk Assessment Engineer vs Fault Tree Analyst?

AspectProbabilistic Risk Assessment EngineerFault Tree Analyst
CredentialsEngineering degree, certifications in risk analysis or reliabilityEngineering or technical background, certifications in fault tree analysis
Work EnvironmentIndustry settings like energy, aerospace, nuclear; risk modelingSafety analysis teams, engineering departments; fault tree development
Employer & Industry UsageUsed by utilities, aerospace, nuclear plants for risk assessmentUsed in safety engineering, accident prevention, reliability studies

Both roles focus on safety and risk analysis but differ in scope. Probabilistic Risk Assessment Engineers develop comprehensive models to quantify risks, while Fault Tree Analysts focus specifically on fault tree development to identify failure pathways. The roles often collaborate but serve distinct functions within safety and reliability teams.

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Cities in New Jersey with the most Probabilistic Risk Assessment Engineer job openings:

Probabilistic Risk Assessment Engineer jobs near you

Risk Management - Quant Modelling Lead - Vice President

JP Morgan Chase

Jersey City, NJ

Full-time

Medical, Retirement

Posted 25 days ago

JPMorgan Chase & Co. rating

8.0

Company rating: 8.0 out of 10

Based on 495 frontline employees who took The Breakroom Quiz

72nd of 171 rated banks

Job description

Bring your Expertise to JPMorgan Chase. As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. 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 Risk Management Quant Modeling Lead/Vice-President in the MRGR CCB Marketing team, you independently assess and challenge marketing models supporting customer acquisition, engagement, retention, cross-sell, pricing, profitability, and optimization. You work closely with model developers, business stakeholders, governance teams, and senior leadership to ensure models are conceptually sound, fit for purpose, and compliant with the Firm's Model Risk Management framework. You help us stay current with emerging AI and LLM developments and communicate actionable recommendations for risk management.

Job responsibilities:

  • Lead and conduct independent model validation and governance activities across CCB Marketing
  • Assess conceptual soundness, implementation accuracy, performance, limitations, and business suitability of statistical, machine learning, and AI models
  • Review traditional regression, decision tree, and advanced machine learning models, including neural networks, transformers, recommender systems, reinforcement learning, Generative AI, LLM-based solutions, and agentic systems
  • Communicate model risk assessments and validation findings through technical reports and presentations
  • Maintain model risk control apparatus and serve as first point of contact for stakeholders
  • Stay current with emerging AI and LLM developments and assess their application within business workflows
  • Provide actionable recommendations for risk management
  • Collaborate with model developers, business stakeholders, governance teams, and senior leadership
  • Ensure models are compliant with the Firm's Model Risk Management framework and regulatory expectations
  • Escalate material model issues appropriately
  • Present complex AI concepts to technical and non-technical audiences

Required qualifications, capabilities, and skills:

  • Master's or PhD in Mathematics, Statistics, Computer Science, Engineering, Economics, Quantitative Finance, or related field
  • Minimum 6 years of relevant hands-on experience
  • Hands-on experience with applied AI/ML and strong understanding of GLMs, tree-based models, deep learning, transformers, LLMs, and modern AI techniques
  • Strong foundation in statistics and machine learning techniques
  • Experience with Python and machine learning frameworks such as PyTorch, TensorFlow, XGBoost, or LightGBM
  • Excellent written and verbal communication skills
  • Risk and control mindset with ability to assess and escalate model issues

Preferred qualifications, capabilities, and skills:

  • Knowledge and experience with LLM technologies, deep learning, transformers, prompt engineering, RAG architecture, agentic AI systems, context engineering, agent skills, MCP architecture, agentic harness, LLM/Agentic evaluation
  • Experience validating risk, fraud, and marketing models
  • Experience working in financial services and collaborating with business, technology, compliance, and regulatory stakeholders
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.

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