JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.
The Regulatory Capital Management Office (RCMO) ensures the efficient and appropriate management of JPM’s capital. The function oversees the end-to-end measurement of risk-weighted asset (RWA), Firm capital and manages the firm-wide Capital Stress Testing process.
The Central Challenger team within RCMO has a firm-wide purview for independently assessing and driving improvements in the following areas:
Forecasting methodologies developed within various lines of business (LOBs) for the Firm’s Capital Stress Testing process. It also includes developing independent statistical models/analytical calculators to challenge LOB results.
Key assumptions and pro-forma financial results across material entities, primarily in the context of the Firm’s Resolution and Recovery process.
Key financial calculations across the Firm, including those related to capital measurement, stress testing & reporting, product valuations, and other high priority processes.
The team partners with the Corporate Capital Stress Testing team, Recovery & Resolution team, LOBs, Regulatory Policy, Financial Reporting, Quantitative Research and various other Finance and Risk teams on various firm-wide initiatives.
Roles in Central Challenger team require an analytical mindset to (i) challenge and improve existing forecasting methodologies used across the Firm (ii) review implementation accuracy and soundness of financial calculations across the Firm. Specialized roles may require technical expertise in statistics and model development.
The individual will be a part of the team that independently reviews and challenges key processes and analytics/tools for firm-wide capital stress testing, resolution & recovery and related processes. The reviews will be performed across all lines of businesses and corporate functions, covering CCAR/DFAST and internal stress testing
Functional knowledge of wholesale and retail banking products & services such as Asset management, CRE, Mortgage, Card, Clearing & Collateral Management is highly desired
The position involves interaction with many teams across finance and risk, lines of business (front/middle/back office) and reporting groups. The ability to work efficiently and communicate effectively across these boundaries will be one of the keys to success
The individual will lead in analyzing and documenting current and future state processes of capital stress testing, identifying gaps and areas for further review, participating in the analyses
The role and responsibilities of the successful candidate will be determined based on qualifications, prior experience and demonstrated skills
Lead the independent assessment to evaluate appropriateness of key assumptions and methodology utilized in estimation methods to forecast P&L/ Balance Sheet and identify potential for improvements in the approach
Partner with stakeholders within the team and outside on high priority reviews and ad hoc requests concerning Stress-Testing and Recovery & Resolution planning
Understand methodology used in the financial calculations and its broader impact / contribution to the firm’s overall finance / risk framework to assess conceptual and financial soundness of implementations as well as compliance with rules and best practices in Stress-testing and Resolution Planning
Liaise with various groups across the firm to define scope and manage engagements
Report and present plans, status and findings to various stakeholders and leadership
Stay abreast of regulatory and industry requirements in finance / risk / accounting to manage reviews and changes in processes
10+ years of experience in banking / financial services industry
Graduate degree in a Finance, Engineering, Economics, Math/Statistics or related quantitative discipline
Strong quantitative, analytical skills and flair for independent research & problem solving
Background or experience with various models, including pricing, capital, and/or financial forecasting models
Knowledge of financial products, financial markets and regulatory requirements
Excellent leadership and team management skills
Strong organizational, communication (verbal and written) and negotiation skills
Extreme attention to detail
Self-starter who is able to perform effectively in a fast paced, results driven environment
Control mindset (ability to identify control gaps and/or issues)
Strong Excel skills required (VBA / SQL is a plus)
Additional qualifications/experience considerations:
PhD/CPA/CFA/FRM/MBA (or obtaining such qualifications)
Experience and knowledge in regulatory capital rules (Basel and CCAR)
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