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Asset & Wealth Management Mortgage Modeling Associate

Req #: 180013958
Location: Jersey City, NJ, US
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 3000 US Dollar (USD)
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6[TMB1]  trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at

J.P. Morgan Asset & Wealth Management, with client assets of $2.3 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.


The Associate Mortgage Modeler will focus exclusively on the AWM mortgage portfolio and be a part of the AWM mortgage modeling team. The successful candidate will be able to provide analytical insight while considering the overall business problem.


The successful candidate will possess strong analytical capabilities, creativity, a desire to dig into details, be a proven business partner, and have a track record of delivering results. This individual must also have excellent communication skills, with the ability to distil complex model ideas into clear, concise business intuition. This hands-on modeler will work on end-to-end development of the AWM mortgage model used for budgeting, reserving, and stress testing (e.g. CCAR/DFAST, ICAAP). 


Responsibilities will include:


  • Working with a team of decision science professionals to develop best-in-class core risk and profitability models and decision support tools for all aspects of credit risk decision points across life-cycle of customers.  
  • Ensuring that all risk models are in compliance with regulatory requirements and the Firm-wide model risk policy
  • Providing insights derived from the models and modeling exercise to support business strategies
  • Designing, developing, testing, and maintaining analytic applications needed for modeling, forecasting and model performance monitoring
  • Assisting the model development team with day to day analytics, analysis, and ad hoc work
  • Analyzing model results to identify and recommend improvement opportunities
  • Creating and maintaining technical and user documentation
  • Training customers on how to install and/or use custom built applications and data repositories
  • Developing and producing quarterly reporting deck highlighting forecast accuracy and portfolio trends for user testing monitoring

The successful candidate will hold the following qualities:


An advanced degree (PhD preferred) in Statistics, Economics/Econometrics, Applied Economics, Decision Science, Operations Research, Mathematics (or equivalent quantitative field)

  • Minimum 7 total years of relevant modeling experience, with at least 3 years in the mortgage industry
  • Excellent communication skills, both written and verbal, and the ability to effectively summarize critical information in a timely manner
  • Deep understanding of econometric and statistical modeling tools and techniques
  • Ideal candidate will have prior experience modeling a high net worth mortgage portfolio
  • Strong coding proficiency in a scientific language and data mining skills; ideally in Python and/or R
  • Experience designing and developing efficient Python code for use in automated/distributed data processing systems on UNIX-based platforms
  • Experience with UNIX shell scripting 
  • Expertise in Microsoft Word, Excel, PowerPoint, to clearly present and communicate analytical findings
  • Knowledge of version control tools and processes (Subversion, Git, BitBucket, etc.)
  • Ability to synthetize disparate data sources into actionable information
  • Strong organization and time management skills. Must have the ability to deliver high-quality results under tight deadlines and be comfortable manipulating and summarizing large quantities of data. Should have good multi-tasking skills with demonstrated ability to manage expectations and deliver results.
  • Must be able make contributions to the group’s knowledge base by proposing new and valuable ways for approaching problems and projects. Teamwork and first-rate communication skills (written and verbal) are key to this role
  • High level of professionalism, self-motivation, and sense of urgency 
  • Ability to work independently in a fast-paced and intellectually-demanding environment
  • Knowledge of the mortgage lending lifecycle including origination, sale/servicing, default management/loss mitigation, credit risk modeling and loss forecasting methodology is a major plus
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