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Quant Modelling Associate
1-12 years
₹ 16.86 - 41L/yr (AmbitionBox estimate)
This is an estimate of the average salary range for this
position. It has not been reviewed by the company, and
the actual salary may differ.
Mumbai
1 vacancy
Quant Modelling Associate
JPMorgan Chase & Co.
posted 1mon ago
Job Role Insights
Flexible timing
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Job Description
Are you looking for an exciting opportunity to join a dynamic and growing team in a fast paced and challenging areaThis is a unique opportunity for you to work in our team to partner with the Business to provide a comprehensive view.
As a Quant Modelling Associate in our Risk Management and Compliance team, youll play a pivotal role in maintaining JPMorgan Chases strength and resilience. Youll anticipate emerging risks and use your expertise to tackle challenges affecting our company, customers, and communities. Youll be part of the Model Risk Governance and Review (MRGR) team, responsible for independent model review and governance activities to manage Model Risk. MRGR Trading focuses on valuation and risk-management models used within the Corporate & Investment Bank, particularly on Derivatives Instruments, involving complex and advanced modeling techniques.
Job responsibilities :
- Evaluate conceptual soundness of model specifications, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, and suitability and comprehensiveness of performance metrics and risk measures
- Perform independent testing of models by replicating or building benchmark models
- Design and implement experiments to measure the potential impact of model limitations, parameter estimation errors, and deviations from model assumptions; compare model outputs with empirical evidence or outputs from model benchmarks
- Evaluate the risks posed by non-transparent model parameters and/or non-linear relationships, and suggest ways to mitigate such risks
- Document the model review findings and communicate them to stakeholders
- Serve as the first point of contact for model governance related inquiries for the coverage area, and help identify and escalate issues to ensure that their resolutions are sound and timely
- Provide guidance on the appropriate usage of models to model developers, users, and other stakeholders in the firm
- Stay abreast of the ongoing performance testing outcomes for models used in the coverage area, and communicate those outcomes to stakeholders
- Maintain the model inventory and model metadata for the coverage area
- Maintain the pace with the latest developments in coverage area in terms of products, markets, models, risk management practices, and industry standards
Required qualifications, capabilities, and skills :
- Master s degree in a quantitative discipline such as Math, Physics, Engineering, Computer Science, Economics or Finance - with minimum 3 years of relevant working experience or a PhD.
- Excellence in probability theory, stochastic processes, statistical/economic modeling, partial differential equations, and numerical analysis.
- Understanding of options and derivative pricing theory and risks
- Proficient in Python, R, Matlab, C++, or other programming languages
- Risk and control mindset: ability to ask incisive questions, assess materiality of model issues, and escalate issues appropriately
- Strong communication skills with the ability to interface with front office traders, and other functional areas in the firm on model-related issues; and produce documents for internal and external (regulatory) consumption
- Strong analytical and problem-solving abilities
Preferred qualifications, capabilities, and skills :
Knowledge of machine learning is not required but a plus.
Employment Type: Full Time, Permanent
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View answer (1) What people at JPMorgan Chase & Co. are saying
Rating based on 611 Associate
reviews
Anonymous · Software Development
in Bangalore/Bengaluru
Likes
A good banking application knowledge.
Dislikes
People don't like to help and but they do like to create dependency. People are isolated. Toxic culture . Team members are not at all supportive.
Read 611 reviewsAssociate salary at JPMorgan Chase & Co.
reported by
10.1k
employees
with 1-17
years exp.
₹10.5
L/yr - ₹36
L/yr
218%
more
than the average Associate Salary in India
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What JPMorgan Chase & Co. employees are saying about work life
based on 5.7k employees
Flexible timing
Monday to Friday
No travel
Day Shift
JPMorgan Chase & Co. Benefits
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