Apply Now    

Corporate Functions Model Risk - Audit Associate

Req #: 180002113
Location: New York, NY, 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 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 http://www.jpmorganchase.com/.
 
Department Description
 
The JP Morgan Chase Audit Department provides the Board of Directors, senior management and regulators with independent assurance that internal controls are operating effectively. Audit works closely with the Lines of Business (LOBs) and their support functions to achieve its mission through a comprehensive audit program. The department is respected throughout the firm for the caliber of the staff and their ability to add value beyond the audit opinion. The Global Audit Department has in excess of 1,000 auditors.
 
The Corporate Risk Audit Team is primarily responsible to assess the adequacy of the control environment across the firm's risk organization (Credit, Market, Operational, Model, etc.). This is achieved through a comprehensive program of audit coverage that is executed by a global team of business and technology auditors.

Position Description
 
Posting is for an auditor to join the Model Risk Audit Team. A core competency of the team is coverage of the Supervisory Guidance on Model Risk Management (OCC 2011‑12 / FRB SR 11‑7).
The model risk auditor will be assessing the control environment supporting the firm's risk operations and model methodologies. This individual will be responsible for maintaining relationships with and providing control‑related advice to business stakeholders. The auditor will also be responsible for planning, execution and documentation of the results of their work for audits conducted. 
 
Responsibilities
  • Understand the design, implementation and use of models or quantitative methods across the firm, including the adequacy of developmental evidence and demonstration of effective independent challenge where warranted.
  • Lead all aspects of audit activities including risk assessments, audit planning, audit testing, control evaluation, report drafting, work paper documentation and follow‑up and verification of issue closure.
  • Partner with colleagues, clients and control community members to evaluate, test and report on the adequacy and effectiveness of management controls in accordance with department and professional standards.
  • Ensure the delivery of a seamless program of audit coverage in partnership with other audit teams.
  • Identify emerging control issues and report them to line of business and audit management.
  • Perform periodic monitoring of operational and financial data to recognize patterns and trends with risk and control implications.
  • Stay up to date with evolving regulatory and market events impacting the firm's risk organization.
  • Establish a business climate and culture that encourages integrity, respect, excellence and innovation.

 

 
  • Bachelor’s with a quantitative focus, e.g. math, science, engineering.
  • Strong programming skills, e.g. C/C++, R/S+, Matlab/Octave
  • 2 or more years of experience in a financial services firm, with an appropriate level of exposure to Quantitative Finance, Model Risk Management and/or Valuation
  • Quantitative Finance, Model Risk Management and/or Valuation
  • A mindset capable of forming and supporting independent views on risks associated with using a model or quantitative method
  • Excellent communication and interpersonal skills, including strong technical writing and the ability to present complex and sensitive issues to senior management
  • Proficiency in valuation practices, risk assessment, issue/impact analysis and executive report preparation
  • Enthusiastic, self-motivated, and effective under pressure facing multiple deadlines
  • Works well individually and in teams, shares information, supports colleagues and encourages participation
Apply Now    

Join our Talent Community

Not ready to apply? Leave your information with us and we will keep you up to date with new career opportunities.

Things to note

Sign in to our application system to continue your job search or update your profile.

Current employees sign in here. Contractors sign in here.

Any information you provide is confidential and will only be viewed by our recruiters in an effort to fill open positions. In addition, the information you provide is subject to our privacy policy practices.

Please note that J.P. Morgan will not accept unsolicited approaches or speculative CVs, nor will J.P. Morgan be responsible for any related fees, from Third Party Firms who are not preferred suppliers.

The firm invites all interested and qualified candidates to apply for employment opportunities.

Need disability related assistance?

If you are a US or Canadian applicant with a disability who is unable to use our online tools to search and apply for jobs, please click here.

Important links

Click here to view the "EEO is the Law" poster.

Click here to view the "EEO is the Law" supplemental poster.

Click here to view our U.S. Pay Transparency Policy.

JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.