Associate Model Validation (Basel Expert) – Mumbai Job Vacancy in JPMorgan Chase Bank, N.A. Mumbai, Maharashtra – Updated today

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Company Name : JPMorgan Chase Bank, N.A.
Location : Mumbai, Maharashtra
Position :

Job Description : Capital Management Oversight – Basel Independent Review – Senior Associate
COMPANY DESCRIPTION
The firm is built on the foundation of more than 1,200 predecessor institutions that have come together through the years to form today’s company. We trace our roots to 1799 in New York City, and our many well-known heritage firms include J.P. Morgan & Co., The Chase Manhattan Bank, Bank One, Manufacturers Hanover Trust Co., Chemical Bank, The First National Bank of Chicago, National Bank of Detroit, The Bear Stearns Companies Inc., Robert Fleming Holdings, Cazenove Group and the business acquired in the WaMu transaction. Each of these firms, in its time, was closely tied to innovations in finance and the growth of the U.S. and global economies.
JOB DESCRIPTION
JPMorgan Chase & Co.
(NYSE: JPM) is a leading global financial services firm with assets of $3 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 Capital Management Oversight (CMO) group within CTC Risk is part of the Independent Risk Management function, reporting to the CTC Chief Risk Officer (CRO) who also serves as the Firmwide Risk Executive for Capital Risk. CMO is responsible for the independent assessment, measuring, monitoring and control of capital risk across the firm. Basel Independent Review (BIR) conducts independent assessments of JPMC’s regulatory framework to ensure compliance with the applicable U.S. Basel rules and associated relevant regulatory guidance. BIR’s assessments are a core component of how the firm complies with the Basel Coordination Committee’s Bulletin 13-3 ‘ Guidance for Independent Verification of a Banking Organization’s Advanced Approaches Systems ‘. BIR’s reports are provided to Senior Management, Independent Risk Management, and the U.S. regulators.
Job Summary:
The individual will be a member of the Basel Independent Review team and will perform periodic reviews of the firm-wide end-to-end framework for risk stripes, with deep dives where the rule is complex or application of the rule would materially affect risk-weighted assets calculation. These assessments, which consider the Basel III final rule and technical guidance issued by the Federal Reserve and Office of the Comptroller of the Currency, are an integral part of compliance with regulatory guidance and the firm’s policies. The position involves interaction with many teams, including regulatory capital policy, model developers, model review, finance, risk management, reporting, technology and operations, and audit. The ability to work efficiently and communicate effectively across these boundaries will be one of the keys to success.
Core Responsibilities:

Distil regulatory rules and technical guidance into key requirements for use in assessments
Review Basel capital models including evaluating conceptual soundness of model specification; reasonableness of assumptions and reliability of inputs; completeness of testing performed to support the correctness of the implementation; robustness of numerical aspects; suitability and comprehensiveness of performance metrics and risk measures associated with use of the model.
Experience in one or more of the core regulatory capital Pillar I frameworks: Retail Credit Risk, Wholesale Credit Risk, Counterparty Credit Risk, Market Risk, Securitization Risk, and Operational Risk.
Review model documentation and interview subject matter experts
Through the review of model documentation, understand and critically evaluate potential impact of model limitations, parameter estimation error or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks.
Liaise with businesses, modelers, risk management, finance, technology, and operations to perform assessments.
Support the execution of direct empirical studies, statistical and data analyses.
Assess compliance with rule requirements and produce reports for management.
Leverage control management, as required, to secure commitment to the timely and complete resolution of the root causes of control issues.
Expertise in Regulatory policies, with respect to the Basel III final rule, and capital processes.

Desirable skills, experience, and qualifications:

Experience in model review or model audit functions.
Experience in dealing with large data sets , empirical studies, data analysis, and statistics.
Excellent analytical and problem-solving abilities.
Experience in risk management with a basic understanding of risk drivers.
Experience in risk models, CCAR models, pricing models, or analytics.
Experience as a consultant implementing Basel rule requirements
Experience in technology and operations, on the development side and/or the process control side.
Strong ability to trace through complex financial systems and processes.
Excellent communication skills, both written and oral.
Detail oriented and ability to work independently.
Experience in one or more of the following aspects: capital policy, risk management, key data elements, project management, and audit.
JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as any mental health or physical disability needs.
The health and safety of our colleagues, candidates, clients and communities has been a top priority in light of the COVID-19 pandemic. JPMorgan Chase was awarded the “WELL Health-Safety Rating” for all of our 6,200 locations globally based on our operational policies, maintenance protocols, stakeholder engagement and emergency plans to address a post-COVID-19 environment.
As a part of our commitment to health and safety, we have implemented various COVID-related health and safety requirements for our workforce. Full vaccination is a requirement for this role for new hires joining JPMorgan Chase. Additional requirements include sharing information including your vaccine card in the firm’s vaccine record tool and may include mask wearing and social distancing. Requirements may change in the future with the evolving public health landscape. JPMorgan Chase will consider accommodation requests as required by applicable law.
Note: The requirement to be fully vaccinated to be hired for this role does not apply to roles with a work location in Arkansas, Florida, Iowa, Montana, and Tennessee. For applicants to these roles, JPMorgan Chase will consider all qualified applicants regardless of vaccination status, due to state and local laws.
Equal Opportunity Employer/Disability/Veterans

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