2 Stochastic Processes Jobs

Are you seeking an exciting opportunity to become a part of a dynamic and expanding team within a fast-paced and challenging environment As a Quant Modelling Associate within our Risk Management and Compliance team at JPMorgan Chase, you will have a crucial role in upholding the strength and resilience of the organization. Your main responsibilities will involve anticipating emerging risks and utilizing your expertise to address challenges that impact the company, its customers, and the communities it serves. You will be an integral part of the Model Risk Governance and Review (MRGR) team, which is accountable for conducting independent model reviews and governance activities to effectively manage Model Risk. Specifically, MRGR Trading focuses on valuation and risk-management models utilized within the Corporate & Investment Bank, with a particular emphasis on Derivatives Instruments that involve complex and advanced modeling techniques. Your key responsibilities will include: Model Review: - Assessing the conceptual soundness of model specifications, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, and suitability of performance metrics and risk measures. - Conducting independent testing of models by replicating or creating benchmark models. - Designing and executing experiments to evaluate the potential impact of model limitations, parameter estimation errors, and deviations from model assumptions; comparing model outputs with empirical evidence or outputs from model benchmarks. - Documenting the findings of the model review and effectively communicating them to stakeholders. Model Governance: - Acting as the primary point of contact for model governance-related queries within the coverage area and facilitating the identification and escalation of issues to ensure timely and effective resolutions. - Providing guidance on the proper usage of models to model developers, users, and other stakeholders within the firm. - Staying informed about the ongoing performance testing results for models utilized in the coverage area and communicating these outcomes to stakeholders. - Maintaining the model inventory and model metadata for the coverage area. - Keeping abreast of the latest developments within the coverage area in terms of products, markets, models, risk management practices, and industry standards. Required qualifications, capabilities, and skills: - PhD or Masters degree in a quantitative discipline such as Math, Physics, Engineering, Computer Science, Economics, or Finance. - Proficiency 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. - Possess a risk and control mindset with the ability to ask insightful questions, assess the significance of model issues, and escalate them appropriately. - Strong communication skills enabling effective interaction with front office traders and other functional areas within the firm on model-related matters; capable of producing documents for internal and external (regulatory) purposes. - Strong analytical and problem-solving abilities.,

You will be responsible for executing model validation activities, including validation, annual review, ongoing monitoring, findings management, and model use approvals for low-, moderate-, or high-risk models. In this role, you may coordinate with a team of 1-2 quantitative model validators to test and evaluate the conceptual soundness of actuarial and other models, as well as assess limitations and suitability for use. Your expertise in Insurance and Actuarial Modeling, or Statistical and Stochastic processes will be crucial for this position. Your key responsibilities will include conducting annual reviews of low-, moderate-, or high-risk models. You will also be responsible for validation scripts, validation report preparation, and review of low-, moderate-, or high-risk model validations. Additionally, you will consult with model owners and developers to promote best practices and address any questions or deficiencies that may arise. You will play a key role in establishing the scope and testing of low-, moderate-, or high-risk model validations, offering guidance on complex issues as needed. Furthermore, you will support model governance policies and procedures, templates, and risk reporting, and provide level 2 technical support to the business. To qualify for this role, you must have a minimum of 7 years of experience in model risk management in insurance or banking, along with a master's degree in science, math, statistics, or a related area. Preferred qualifications include an Actuarial designation or substantial progress toward a designation such as Associate of the Society of Actuaries, USA or Fellow of the Society of Actuaries, USA. Designations from other actuarial organizations will also be considered. A PhD and familiarity with SR 11-7/OCC 2011-12 are also advantageous. Join Ameriprise India LLP, a U.S.-based financial planning company with a global presence, as we provide client-based financial solutions to help clients plan and achieve their financial objectives. Our focus areas include Asset Management and Advice, Retirement Planning, and Insurance Protection. At Ameriprise, you will be part of an inclusive, collaborative culture that values your contributions and offers opportunities for career growth. If you are talented, driven, and seek to work for an ethical company that cares, take the next step and create a rewarding career at Ameriprise India LLP. This is a full-time position with working hours from 2:00 pm to 10:30 pm. The role is part of the Finance job family group within the India Business Unit at AWMP&S President's Office.,