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Corporate – Risk – Model Governance Group – Quality Assurance - VP

Req #: 170114388
Location: London, ENG, UK
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 3500 Pound Sterling (GBP)
Job Summary
As part of the firm’s model risk management function, Model Governance Group (MGG) is charged with developing model risk policy and control procedures, performing model validation activities, providing guidance on a model’s appropriate usage in the business context, evaluating ongoing model performance testing, and ensuring that model users are aware of the model strengths and limitations.
We are currently seeking an outstanding candidate at Vice President (VP) level to join our Quality Assurance (QA) team within MGG.  In this role, the candidate will lead various QA projects focusing on evaluating cross-consistency of model validation and governance activities across areas, and identifying gaps in the implementation of target state Model Risk Management Framework.
 
Responsibilities:
The role is that of an experienced VP with significant cross-asset background in model development or model validation, an understanding of diverse slate of models used in different part of a large financial institution, and with leadership skills to drive the QA agenda described below.
  • Evaluate model documentation and reviews across a broad set of model types and business areas for consistency and adherence to current standards
  • Perform independent sample testing of model risk related decisions by MRGR reviewers and model managers (e.g. model identification, tiering, materiality of changes, ongoing testing, etc.)
  • Identify implementation and process gaps relative to the strategic target state Model Risk Management framework
  • Identify need for, and develop best practice guidelines and training materials related to Model Risk Management control practices
     
Qualifications:
  • PhD/Masters degree or equivalent in a quantitative field
  • Knowledge of various modeling techniques and breadth of experience across model types, asset classes and business areas (retail, wholesale, capital markets)
  • Deep understanding of regulatory guidance on model risk management (SR 11-07, OCC 2011-12) as well as model development and validation standards in the financial services industry
  • Significant (5+ years of) prior experience in model validation or development
  • Strong written, verbal communication, and presentation skills
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.
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