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Company 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.
The Model Risk Governance and Review Group (MRGR) oversees model risk at Company, conducts independent model and non-model reviews and provides guidance around model and non-model’s appropriate usage. MRGR is composed of 4 distinct units: Model Review Group (MRG), Model Governance Group (MGG), Chief Operating Officer (COO) and Central Challenger Team (CCT). The Central Challenger team has a firm-wide purview for independently assessing and driving improvements in the following areas:
1. Forecasting methodologies developed by various lines of business (LOBs) for the Firm’s Capital Stress Testing and Budgeting process.
2. Key assumptions and pro-forma financial results across material entities, primarily in the context of the Firm’s Resolution and Recovery process.
3. Key financial calculations across the Firm, including those related to capital measurement, stress testing & reporting, and product valuations.
The team partners with the Corporate Capital Stress Testing, Recovery & Resolution, LOBs, Regulatory Policy, Financial Reporting, Quantitative Research and various other Finance and Risk teams on various firm-wide initiatives.
The primary role of Central Challengers is to (i) constructively challenge and improve existing forecasting methodologies used across the Firm and (ii) review implementation accuracy and soundness of financial calculations. The Associate will support Pillar Leads on model and non-model reviews. Ability to think critically, take ownership of the review process and communicate effectively (both spoken and written) are critical to this role. Specialized roles may require fluency in statistics and model development.
Work with the Pillar leads to independently review and challenge key estimation methodologies and analytics/tools for firm-wide capital stress testing, resolution & recovery, budgeting and related processes
Develop expertise in Asset & Wealth Management, and Commercial and Retail banking industries, products & services
Review model and non-model documentation and write assessment reports
Interact with teams across Finance and Risk functions, lines of business (front/middle/back office) and reporting groups.
Stay abreast of regulatory and industry requirements in finance / risk / accounting to manage reviews and changes in processes.
The role and responsibilities of the successful candidate will be determined based on qualifications, prior experience and demonstrated skills.
Graduate degree in a Finance, Economics, Business Management, Accounting, Engineering, Math/Statistics or related discipline
Ability to think critically (question and argue logically; gather, assess and interpret relevant information in a diligent manner; challenge assumptions and explore alternatives), based on strong qualitative and quantitative analytical skills and independent research
Strong communication (spoken and written) and organizational skills
Extreme attention to detail
Inquisitive and intellectually curious
Self-starter who is able to perform effectively in a fast paced, results-driven environment
Background or experience with quantitative and qualitative-based estimations, including pricing, capital, and/or financial forecasting models
Knowledge of financial products, financial markets and regulatory requirements
Control mindset (ability to identify control gaps and/or issues)
Strong Excel skills required (VBA / SQL is a plus)
Experience in statistical modeling software a plus (SAS, EViews, R, Matlab etc.)
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