Securitized Products Group - Market Risk - Associate

Job Description

As an Associate in the Securitized Products Group - Market Risk team, you bring your expertise to JPMorganChase. 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 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.

Primary functions include:

- Quantification of the risk of a potential loss of value in assets and liabilities due to changes in market variables, e.g. interest rates, equity and commodity prices.
- Ongoing monitoring and control of a business unit’s exposure to market risk through risk limits.
- Performance of stress testing and qualitative risk assessments of a business unit’s trading portfolio.
- Facilitation of efficient risk-return decisions.
- Regular dialogue with the trading businesses with respect to risk appetite, risk limits and individual large and complex transactions.

Job Responsibilities

- Apply your knowledge of CMBS deal structures, including Single Asset Single Borrower (SASB), Conduit, and Commercial Real Estate Collateralized Loan Obligation (CRE CLO), to identify threats and weaknesses within the risk profile.
- Analyze how Agency and Non-Agency CMBS structures are priced, and how they differ from Residential Mortgage-Backed Securities, to proactively highlight risks to the trading business and the Market Risk management team.
- Conduct internal stress estimates on incoming warehouse and non-warehouse commercial real estate loans.
- Assess prepayment penalties and underlying extension assumptions, and evaluate their impact on CMBS structures and the broader commercial real estate loan portfolio.
- Monitor and explain the drivers of profit and loss within the trading portfolio.
- Support risk limit monitoring and escalate limit breaches and emerging risks in a timely manner.
- Follow global financial markets, focusing on price movements and events affecting the commercial real estate market, and highlight top risks to the trading business and the Market Risk management team.
- Prepare clear risk reporting and analysis for senior management and contribute to reviews of large and complex transactions.

Required qualifications, capabilities and skills

- Bachelor's degree in Finance, Economics, Mathematics, Engineering, Real Estate, or a related quantitative field
- 2+ years of experience in market risk, trading, structuring, research, or underwriting related to CMBS or commercial real estate lending
- Experience in risk management and fixed income or securitized products.
- Strong technical proficiency in Excel, VBA, and Bloomberg, with ability to learn and apply core business and risk systems
- Knowledge of CMBS deal structures, including SASB, Conduit, and CRE CLO
- Strong analytical and problem-solving skills, with the ability to explain what drives risk and profit and loss
- Strong written and verbal communication skills, with the confidence to engage trading and risk stakeholders