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Firmwide Market Risk - Market Risk Basel Group VP - Capital Projects

Req #: 180009074
Location: Brooklyn, NY, US
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 0 US Dollar (USD)
JPMorgan Chase is a leading global financial services firm with assets of $2.5 trillion and operations in more than 60 countries.  The firm is a leader in investment banking, commercial banking, financial services for small business and consumers, financial transaction processing, asset management and private equity.
Market Risk is an independent risk group within Risk Management, reporting to the Firm’s CRO, which identifies, measures, monitors and controls market risk. Market risk management seeks to facilitate efficient risk/return decisions, reduce volatility in operating performance and ensure that the firm's market risk profile is transparent to senior management, the Board of Directors and regulators. Firmwide Market Risk works closely with the Market Risk teams aligned to each Line of Business and other partner teams including Risk Reporting, Risk Policy, Regulatory Risk, Market Risk Middle Office, Business Middle Offices, Control & Oversight and Model Review to set Market Risk policy and a consistent framework for Market Risk across the firm, and to share best practices across LOB Market Risk teams. The Market Risk Basel Group is part of the Firmwide Market Risk organization and is responsible for developing and delivering the operating model and framework for Basel Market Risk Rule implementation in partnership with key stakeholder groups.
Job Description
The Market Risk Basel Group (MRBG) is seeking an Associate/VP, based in New York, to join the Modelled Capital team to provide program management management and business analysis expertise to key projects within the modelled capital stream, including Fundamental Review of the Trading Book (FRTB) implementation, ongoing governance of regulatory capital models and calculations, and leading self-assessments against the current Basel 2.5 market risk framework. The successful candidate will work closely with other team members within MRBG, model developers and validators, Regulatory Capital Management Office (RCMO), and other functional groups, and in addition to a sound conceptual understanding of regulatory capital rules and implementation processes, will also have superior communication skills for summarizing and presenting complex technical topics to both management and regulators.
Core responsibilities
  • Work with all functional groups (QR, FO Technology, Market Risk Technology, MRGR, MRC, MRBG, Finance, Risk Reporting) to oversee some work-streams within the FRTB program, including gathering business requirements, building awareness of internal and external dependencies, and managing and driving execution
  • Lead MRBG self-assessments and deep dives on compliance with Basel 2.5 Market Risk Rules, and propose and drive resolutions for identified gaps
  • Help prepare regulatory notifications, responses to supervisory queries, and other regulatory communication
  • Work with QR, MRGR, and RCMO on updates to the Basel 2.5 model governance policies and procedures
  • Assist the Internal Models Working Group and the Market Risk Models Committee with governance and oversight of JPM’s internal Market Risk Capital models, and ensure coordination with Market Risk Capital Book of Work, Forward Calendar, and RWA/Capital forecasts
  • Support FRTB implementation efforts by developing an archive of Rules, prior interpretations, FAQ responses, and on-going advocacy efforts
  • Stay abreast of regulatory developments, methodology changes and clarifications and provide updates across program
  • Prior experience with Market Risk Capital rules and production processes, from a Finance, Risk Reporting, or Technology background
  • Good understanding of Risk or FO systems, and risk and P&L concepts for traded products
  • Knowledge of Market Risk Capital rules and calculation methodologies a plus
  • Prior experience with participating in large scale implementation projects
  • Ability to multi-task, work under pressure and manage tight deadlines.
  • Self-motivated, demonstrate initiative, innovation, and solid problem solving skills.
  • Attention to detail
  • Excellent written and verbal communications skills and a strong track record of partnership
  • Advanced degree in Finance, Accounting, Technology or Quantitative fields
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