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Risk Management - Risk Associate
mid · Risk & Compliance
As part of Risk Management and Compliance, you are at the center of keeping JPMorganChase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks and using your 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 in the Chief Investments Office Market Risk team, you will support the second line of defense by partnering with Home Lending businesses such as Pipeline Warehouse, Non-Agency Warehouse, and Mortgage Servicing Rights. You will help monitor, analyze, and report interest rate, spread, prepayment, and liquidity risks across Agency MBS, RMBS, and other structured products. Working under the guidance of senior risk managers, you will contribute to daily risk coverage, limit monitoring, stress testing, and scenario analysis, and deliver clear risk insights for management and governance forums.
Job Responsibilities
- Support market risk coverage for Home Lending Residential Loans desks, including Agency, Non-Agency, MSR and hedges (Swaps, Futures, Options, TBAs, etc.).
- Monitor daily risk measures and key changes in market risk, trading activity, and risk profiles; escalate notable moves/issues with clear context.
- Prepare regular risk updates (market moves, P&L drivers, limit usage, key risks) for senior management and risk forums.
- Perform product- and trade-level analyses to identify material risks, concentrations, and emerging vulnerabilities (e.g., rates/spread moves, prepayment impacts, convexity/basis).
- Assist with review of portfolio risk sensitivities, Value-at-Risk (VaR), stress results, and limit management; support documentation for limit exceptions as needed.
- Contribute to the design, implementation, and maintenance of stress scenarios and ad hoc scenario requests; improve documentation and repeatability.
- Support new product and new trade reviews by gathering analysis and summarizing risks for approvals materials and risk frameworks.
- Partner with Middle Office, Operations, Compliance, Technology, and Product Control to resolve data/booking/reporting breaks and strengthen controls.
Help enhance risk reporting and analytics through automation and improved data quality checks.
Required Qualifications, Capabilities, and Skills
- Minimum 2 years of relevant experience in market risk, front office, treasury, risk analytics, product control, or a similar role; mortgage/structured products exposure (Agency MBS, RMBS, MSR, or rates/volatility products).
- Bachelor’s degree required in finance, math, engineering, economics, business, or computer science.
- Working knowledge of market risk concepts/metrics (e.g., VaR, stress testing, DV01/delta, gamma/convexity; familiarity with spread and prepayment risk).
- Strong quantitative and analytical skills with high attention to detail; ability to translate analysis into clear takeaways.
- Strong written and verbal communication skills; comfortable collaborating with trading, risk, product control, and technology partners.
- Demonstrated ownership mindset: able to manage defined workstreams independently, prioritize effectively, and escalate issues appropriately.
- Strong controls orientation (documentation, reconciliations, data quality checks, process discipline).
Preferred Qualifications
- Familiarity with spread and prepayment risk
- AI adoption experience (applying AI tools to improve analysis, reporting, documentation, or controls)
- Python experience.