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Company Name : JPMorgan Chase Bank, N.A.
Location : Mumbai, Maharashtra
Position : CRSM – Associate
Job Description : Organization
The Counterparty Risk Stress and Margin team (“CRSM”) works within Credit Risk to measure and manage the risk generated from trading activities with JP Morgan clients across all asset classes, products, and client types. Clients are primarily Hedge Funds and traditional Asset Managers but also include Banks and Broker Dealers, Insurance Companies, Pensions and Corporates. Asset classes include equities, rates, FX, credit and commodities. CRSM International Capital is part of CRSM within Wholesale Credit Risk (WCR) and is responsible for the models, methodologies and infrastructure supporting the calculation of counterparty credit risk (CCR) exposures for advanced capital calculation purposes and associated internal risk and capital management use cases .
CRSM International Capital is a specialist team and is responsible for the design and implementation of advanced CCR capital frameworks. These responsibilities span across IMM, ICAAP, CCR stress testing and local implementations of SA-CCR. The team is currently based in London, Frankfurt and Mumbai. This role is in Mumbai with its focus on J.P. Morgan AG (JPMAG), the firm’s primary legal entity for booking of CCR transactions with EU clients, will expand CRSM’s presence in the EU. The role will also support J.P. Morgan Bank Luxembourg, as required.
Primary stakeholders include JPMS plc’s/JPMAG’s CRO and CFO teams, Capital Policy, Credit Officers, Quantitative Research and Model Governance teams, Technology partners, as well as relevant regulators (PRA, ECB, BaFin, Bundesbank). The role reports locally with a dotted line to the head of CRSM International Capital in London.
The candidate will collaborate with the global CRSM team and with other subject matter experts at the Firm to define appropriate stress levels and stress methodologies. The job requires regular interaction with the trading desks, the Clearing Business, clients, credit officers, and market risk.
Establish a strong presence with stakeholders in (relevant Legal entity) and across other EMEA/Global locations, including Credit Officers, Sales/Trading, In-Business Risk teams and Senior Management.
Support JPMS plc’s/JPMAG’s application for permission to use its internal models for the calculation of CCR capital requirements (IMM)
Own governance and oversight of JPMS plc’s/JPMAG’s implementation of approved internal CCR capital models
Regulatory examinations and interactions: Participate, prepare and coordinate responses to regulators, and oversee projects to remediate regulatory and/or audit findings
Fluency in regulatory model change requirements
Awareness of baseline CCR capital concentrations, trends, stress behavior, and impacts on limits/risk appetite
Represent CRSM in JPMS plc’s/JPMAG’s ICAAP processes which includes developing an understanding of, or owning elements of, CCR capital stress testing, stress scenario design, Normative vs Economic ICAAP views, Pillar 2 approaches
Assist the Global team with their representation of CRSM in relevant JPMS plc/JPMAG governance committees and forums with required material/analysis.
Look for synergies and consistencies with approaches used by other legal entities or the firm-wide level whenever possible.
Involvement in audits relating to CCR (internal and external).
Provide local oversight and accountability for the CRSM components of the EBA Stress Test
Work closely with Credit Officers on designing strategic solutions and work closely with the global CRSM team in documenting, prioritizing and validating these solutions.
Monitor markets and geopolitical developments and assess impact on client portfolios.
Work with Credit Officers, the CIB businesses and its clients, and regulators to highlight and summarize risks.
Identify notable trends and material changes in client portfolios and across products and businesses.
Partner with technology on initiatives to implement solutions for more effective risk identification and management.
Must possess the following:
Bachelor’s degree in a discipline such as Financial Engineering, Mathematics, Physics, Statistics, Engineering, Finance and/or Economics.
Ability to communicate results of analysis or underlying risk concepts clearly and succinctly. Excellent written and verbal communication skills, with the ability to articulate complex ideas to audiences across levels of seniority.
Strong sense of accountability and ownership of responsibilities; must be pro-active and able to drive the initiatives end to end.
Strong risk and control mind-set, detail oriented but also able to deliver on multiple time sensitive timelines.
Ability to work independently.
Comprehensive knowledge of CCR products, primarily bilateral and cleared derivatives.
Thorough understanding of quantitative concepts relating to CCR exposures, risk sensitivity and stress testing.
Excellent written and verbal communication skills, with the ability to articulate complex ideas to audiences across levels of seniority.
Prior experience working at a financial institution in a market or credit risk role or in a trading capacity or in a role with a focus on derivatives clearing and F&O exchange traded products.
Knowledge of risk management including VAR, scenario analysis and stress testing.
Strong all-round knowledge of trading products, spanning derivatives on the major asset classes (interest rates, equities, credit, commodities, FX) and repos, including exotic structures on these.
Good understanding of quantitative concepts relating to credit exposure, risk sensitivity and stress testing is desirable.
Master’s degree, CFA, CQF or FRM designations are preferred.
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.
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