What are the responsibilities and job description for the Firmwide Mortgage Market Risk - Associate position at JPMorgan Chase?
Bring your expertise to JPMorgan Chase. As part of Risk Management and Compliance, 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 solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.
As an Associate within the Firmwide Mortgage Risk team, you will report directly to the Firmwide Risk Executive – Mortgages. You will play a pivotal role in supporting the Firmwide Mortgage Market Risk function as you will collaborate with business units, risk divisions, and corporate groups to drive consistency and standardization in mortgage and real estate risk management across the firm. Your expertise will help strengthen market risk analysis, enhance governance, and support strategic decision-making for mortgage and real estate exposures. You will collaborate with various business units and other risk divisions to gather, comprehend, analyze, and infer potential real estate risk implications within the firm's operations. You will be responsible for continuously evaluating emerging risks to the firmwide mortgage portfolio across multiple LOBs and asset classes. You will lead efforts and partnerships with other teams, including Climate Risk, SPG Agency and Non-Agency, and CRE, to work on deep dive projects and to standardize mortgage coverage across the firm.
Job Responsibilities
- Actively participate in the Firmwide Mortgage Market Risk Forum, contributing to facilitate cross-LOB collaboration to ensure alignment on risk methodologies, assumptions, and models.
- Lead efforts to aggregate and analyze market and credit risk attributes for mortgage and real estate portfolios across all lines of business.
- Develop and maintain benchmarking processes, back-testing routines, and model governance standards at portfolio and LOB levels.
- Prepare and present risk reports, escalation thresholds, and portfolio updates to senior management and relevant committees.
- Integrate risk appetite frameworks into mortgage risk management strategies, including growth, re-risking, and de-risking initiatives.
- Assess correlations and diversification within real estate exposures and their impact on the firm’s balance sheet.
- Monitor and evaluate regulatory and industry developments affecting mortgage and real estate risk.
- Support stress testing, CCAR, CECL, and other regulatory exercises, ensuring horizontal evaluation and consistency across the firm.
- Review and challenge mortgage models, Home Price model methodologies, and quantitative research updates.
- Collaborate with research, quantitative, and valuation teams to address model issues and implement enhancements.
- Contribute to the assessment and integration of climate and environmental risk factors into real estate risk management.
Required Qualifications, Capabilities, and Skills
- Minimum 6 years of experience in risk management, preferably with a focus on mortgage products and market risk, or in another role with strong mortgage experience
- Strong understanding of risk concepts, governance, and regulatory requirements.
- Experience with benchmarking, stress testing, and model governance.
- Effective verbal and written communication skills, with the ability to present complex risk topics to senior management and forum participants.
- Proficiency in Excel and PowerPoint for risk analysis and reporting.
- Strong attention to detail and ability to work collaboratively across teams.
Preferred Qualifications, Capabilities, and Skills
- Advanced degree in math, science, or computer science discipline
- Experience in quantitative risk techniques.
- Familiarity with regulatory frameworks (CCAR, CECL) and industry best practices.
- Understanding of product knowledge and its impact on market risks
- Experience with climate and environmental risk assessment in real estate.
