Internal Audit Director, Vice President - Corporate Functions

Internal Audit is an independent function at JPMorgan Chase & Co. that aims to enhance and protect the firm by providing risk-based and objective assurance, advice and insight.

We work with every Line of Business and Corporate Function to assess the internal control processes that drive our global business - identifying areas of improvement to help safeguard the firm. Using cutting-edge audit technology, data, methodology and sound judgement, we bring a systematic and disciplined approach to evaluating and improving the effectiveness of governance, risk management and controls.

We're proud of our reputation for excellence, integrity and collaboration. Our priorities of strong governance, transparency and strategic engagement, along with our people-first culture centered around diversity, equity, inclusion, teamwork, career progression and continuous learning, have helped us create a coveted workplace where everyone feels like they belong.

Our global team is made up of more than 1,200 talented and passionate individuals in more than 20 countries around the world.

Intro Marketing Language

As part of the Corporate Audit Model Risk Team , you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to ensure the model risk control framework covers and effectively mitigates the risk that impact our company, customers and communities. Our culture in the Corporate Audit Model Risk Team is all about thinking outside the box, challenging the status quo and striving to be best-in-class. Financial Institutions routinely use models for a broad range of activities including analyzing business strategies, informing business decisions, identifying and measuring risk, valuing exposures or instruments, hedging derivative positions, conducting stress testing, assessing capital adequacy, managing clients assets, informing investment process, measuring compliance with internal limits, maintaining the formal control apparatus of the bank, meeting financial or regulatory reporting requirements and issuing public disclosures

Job Summary

Corporate Audit Model Risk is a global team of mod el risk management quantitative experts within the firm's Corporate Audit organization with an objective to ensure the risk associated with using models is appropriately managed and mitigated though effective model risk controls. The team is responsible for conducting independent assessments on the adequacy and effectiveness of firmwide model risk processes, controls, governance and risk management to help identify, measure, and mitigate Model Risk in the firm. As part of the firm's , Corporate Model Risk Audit function you will directly interact with model development and model validation quants in a dynamic setting working closely with Front Office Trading Desks, Desk Quants or Model Developers and Risk and Finance professionals across all lines of businesses to perform control assessments for the firm's global model risk management framework covering model development, model review s, model usage, policies and procedures along with evaluating ongoing model performance testing and model change management processes. The role offers opportunities for you to directly influence and improve how the firm manages model risk across the globe. The role provides exposure to all lines of business and various levels of leadership from Associate to Senior management.

Job Responsibilities

A s a successful member of the Corporate Audit Model Risk Team , you will focus on the following activities:

• Perform model risk control assessments and analysis against the risk the controls are intended to mitigate, determine their effectiveness and develop an independent opinion on the control environment along with recommendations (across all LOB and a wide range of model types) to further strengthen the model risk management control framework
• Finalize and communicate audit findings to management and identify opportunities for improvement in the design and effectiveness of key controls
• Maintain an independent model risk control apparatus of the bank through directly working with internal clients (LOB business management, and control groups including but not limited to model development, model review, risk management and compliance) and external clients such as external auditors and regulators.
• Keep up with the latest developments in coverage area in terms of products, markets, models, risk management practices and industry standards
• Manage/support and execute strategic risk and control assessments along with strategic projects (e.g. capital stress testing) in a timely and efficient manner
• Manage and execute audit projects and produce quality deliverables to both department and professional standards.
• Directly work with quants covering the Trading Desks , Risk and Finance professionals , LOB senior management across the globe to provide oversight of appropriate usage, controls around model restrictions & limitations, and findings for ongoing performance assessment & testing

Required Qualifications, Capabilities And Skills

• Risk and control mindset: ability to ask incisive questions, converge on critical matters, assess materiality, and escalate complex and sensitive issues to senior management
• Prior experience (minimum experience is 3 Years) are required in the following fields: Quantitative Model Development, Model Validation, Machine Learning or Financial Services industry etc.
• Excellent communication (written and verbal) skills and ability to interface with other functional areas in the bank on model-related issues
• Strong quantitative & analytical skills: The role requires a strong quantitative background based on a PhD or Masters Degree (or equivalent) in a quantitative discipline such as Mathematics, Science, Economics, Engineering, Quantitative Finance, etc.
• Strong track record of applying critical thinking and analytical skills to identify, solve a variety of business problems including model risk management and assessing the impact of a control weakness.
• Strong leadership skills with the ability to establish credibility working across cross-functional teams to drive and influence change

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. Employees are expected to follow the Firm's current COVID-19 or other infectious disease health and safety requirements, including local requirements. Requirements include sharing information including your vaccine card in the firm's vaccine record tool, and may include mask wearing. Requirements may change in the future with the evolving public health landscape. JPMorgan Chase will consider accommodation requests as required by applicable law.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set, and location. For those in eligible roles, discretionary incentive compensation which may be awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.

Equal Opportunity Employer/Disability/Veterans

Base Pay/Salary

Jersey City,NJ $123,500.00 - $195,000.00 / year