Job Location: Mumbai
Market Risk is an independent risk group within Corporate Risk Management, which identifies, measures, monitors and controls market risk. Market risk management seeks to facilitate efficient risk/return decisions, reduce volatility in operating performance and ensure that the firm’s market risk profile is transparent to senior management, the Board of Directors and regulators. Firmwide Market Risk works closely with the Market Risk teams aligned to each Line of Business as well as other partner teams (e.g., Credit Risk, Liquidity Risk, etc.).
The Firmwide Market Risk Stress Testing team is a part of Market Risk and manages Stress Testing for the trading positions of the Firm. Working in close coordination with Market Risk Coverage who is responsible for risk management for the different Lines of Businesses throughout the firm, the Stress team is responsible for:
- Maintaining and improving the framework for stress testing, which includes defining shocks across asset classes and risk factors, defining macro scenarios, and analysing the results of the analysis versus imposed limits.
- Responding to regulatory requests from Federal Reserve Bank (FRB), Office of the Comptroller of the Currency (OCC), Prudential Regulation Authority (PRA) and other Agencies. We are the point of contact for the Market Risk contribution to the Comprehensive Capital Analysis and Review (CCAR), Internal Capital Adequacy Assessment Process (ICAAP) and Risk Appetite of the Firm.
- Understanding the assumptions made and the limitations of the methodology and improving the process, documentation and controls.
- Managing the technology that serves as a central repository for stress testing that communicates with systems in each Line of Business.
- Partnering on the above with teams across the Firm including other Risk functions, Controllers, Regulatory Capital Management Office and Quantitative Research.
Job Description
The Firmwide Market Risk Stress Testing team within Market Risk is seeking an Analyst to support all aspects of stress testing with a focus on strategic projects, regulatory stress testing, Firmwide Stress Infrastructure (FSI) analytics and processes, stress testing methodology and technology.
Examples of responsibilities include :
- Analyzing historical data of different risk factors across a wide range of assets to determine appropriateness of shocks
- Evaluating the robustness of macro scenarios by analyzing the historical performance and correlation of asset classes
- Partner with LOB Market Risk coverage and Market Risk MO to support and enhance processes, stress explain and analysis; inform senior management of key changes in stress results as a core risk management measure
- Participate in strategic technology initiatives to help drive sound integration of FSI framework into a strategic technology platform and to enhance regulatory stress testing analytical tools
- Work alongside the broader team to help deliver and coordinate regulatory stress testing exercises, including end-to-end results analysis and submission, documentation, and senior management presentations
- Serve as Market Risk Stress contact for India
Given the growing agenda, responsibilities are not limited to the above.
Qualifications
- Minimum Bachelor’s degree
- Familiarity with stress testing and capital planning strongly preferred
- Strong understanding of technology, coding and ability to communicate business requirements to tech leads
- Quantitative and analytical background with an understanding of risk management concepts (e.g., VaR and market risk stress; liquidity risk, structural interest rate risk, credit risk and operational risk management metrics) and statistical measures
- Strong process and control mindset
- Strong written and verbal communication skills and ability to clearly articulate complex concepts
- Ability to multi-task, work well under pressure with commitment to deliver under tight deadlines
- Demonstrated ability to partner effectively across different businesses, regions and functional areas in order to be an influential voice for Market Risk.
- Strong Microsoft Office and Python or other programming language skills
- Ability to work independently
J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.
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.
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