JPMorgan Chase Corporate Operational Risk- Scenario Analysis – Associate in Brooklyn, New York
Corporate Operational Risk -Scenario Analysis –Associate
J.P. Morgan is a leading global financial services firm with assets of $2.4 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. Information about J.P. Morgan is available at http://www.jpmorganchase.com/
The Corporate Operational Risk team is an independent function responsible for the development and maintenance of the Firm’s operational risk framework. The Head of Corporate Operational Risk (COR) reports to the Firmwide Risk Executive for Model Risk and Operational Risk. JPM’s Operational Risk Framework focuses on the management of the Risk and Control Self-Assessments (RCSA), Loss Data, Scenario Analysis, Key Risk Indicators (KRIs) as well as the measurement of Operational Risk Capital (ORC) and Stress Testing (CCAR/DFAST).
This individual, in the Analyst or Associate Role, will be responsible for parts of the JPM’s Scenario Analysis Program, working with Operational Risk Officers for Lines of Business (LOBs) and Functional Groups as well as Subject Matter Experts to develop Scenario Analysis data to be used in the ORC and Stress Testing.
Assist with the execution of the Scenario Analysis program for the assigned coverage including:
Participate on the design, structuring and quantification of operational risk scenarios.
Critically assess the structured scenarios for reasonableness of the design and assumptions, accuracy of the quantification.
Assist on developing and maintaining Firmwide standards for the Scenario Analysis Program
Prepare standard materials to be used during risk identification and assessment
Work on the execution of the scenario analysis structuring and quantification, which includes developing timelines and communicating key milestones to the LOB
Ensure that LOBs have a clear understanding of the methodology to be utilized for the development of the scenarios
Participate in the LOB workshops to assist in the identification and assessment of risks
Review results to ensure consistency and comparability across LOBs
Prepare materials for reporting results to Senior Management
Participate in the development of exposure-based models to enhance the measurement of risk scenario
- One of the key objectives of the COR team is the development of an enhanced analytical framework to assess and measure the risk of the identified key risk scenarios. This program will leverage the array of operational risk data (Loss Data and RCSA), together and other internal and external data (Key Risk Metrics) to improve the Firm’s capability to measure and understand its exposures on a current and forward looking basis. The individual in this role will participate in developing a strategy and approach to accomplish this objective and then help execute the agreed approach.
Ad hoc projects
In addition to the above this individual is expected to assist in the undertaking of quantitative ad hoc projects, in partnership with QR whenever appropriate. In the past these have included conducting “what if?” analyses, estimating capital impact of potential emerging risks, developing a framework to incorporate Scenario Analysis info in stress testing (CCAR / DFAST).
Good understanding of operational risk frameworks, with specific experience in the development and operation of operational risk capital models and scenarios
Understanding of drivers of operational risk in large diversified financial institutions
Some experience in applied statistics
Strong quantitative /numerate skills
Strong, broad-based communications skills – ability to discuss range of topics with quantitative experts, ORMs, subject matter experts in the business, and senior business managers
Structured and organized – ability to organize projects, results and documentation that is effective from a business management perspective and will facilitate audit and regulatory reviews
Creative thinker, applied to new and developing aspects of the operational risk framework
Demonstrated ability to work closely with peers
Demonstrated ability to influence change
Ability to work with limited supervision and make independent decisions
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.