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2025 Quantitative Analytics Summer Associate Program

JPMorganChase

JPMorganChase

Data Science
New York, NY, USA
Posted on Tuesday, July 2, 2024

Job Description

2025 Quantitative Analytics Associate Program - Summer Associate

Short Job Description
We are looking for innovative problem-solvers with a passion for developing complex solutions that support our global business.

Intro Marketing Language

At JPMorgan Chase, we’re creating positive change for the diverse communities we serve. We do this by championing your innovative ideas through a supportive culture that helps you every step of the way as you build your career. If you are passionate, curious and ready to make an impact, we are looking for you. Spend your internship working alongside our top tier professionals, driving innovation through financial engineering, derivatives modeling, asset and liability management and risk management. You'll help develop or validate mathematical models, methodologies and tools used throughout the firm while gaining in-depth insight into the world of risk modeling, investment banking and the financial services industry.

Job Summary

As an Associate in the 2025 Summer Internship Program, you will be joining the Quantitative Analytics Associate Program. Summer Associate Internship Program begins in June, depending on your academic schedule. Your professional growth and development will be supported throughout the internship program via project work related to your academic and professional interests, mentorship, engaging speaker series with senior leaders and more. Full-time employment offers may be extended upon successful completion of the program.

About our Teams
Our quantitative analytics teams cover a wide variety of skillsets and projects across JPMorgan Chase. Please take a look at each group below to gain a better understanding of which skillsets and groups align best for you.

Wholesale Credit

The Wholesale Credit Quantitative Research team is responsible for developing and implementing forecasting and credit rating models across wholesale businesses. The team works across the Commercial & Investment Banking, Consumer & Business Banking Bank and Asset Management, and will be partner with other functions including Risk, Finance, Model Risk & Development, Technology, and the Regulatory Capital Management Office. The models and research developed by the team is leveraged for external by the firm’s risk and finance functions to measure and monitor various trends related to wholesale credit risk.

Quantitative Balance Sheet Strategy (QBSS)

QBSS is a firm-wide community of teams responsible for best-in-class quantitative analytics supporting JPM’s Corporate Treasury efforts around the Firm’s Asset & Liability Management (ALM) and balance sheet strategy.

QBSS consists of several teams which include ALM, Research, Capital strategy and Liquidity strategy teams with Treasury and Chief Investment Office (TCIO) as well as Quantitative Analytics and Strategy teams within Treasury teams of the Firm’s Lines of Business (LOBs).

The Firm’s ALM and balance sheet strategy efforts supported by QBSS include interest rate risk modelling, internal transfer pricing and capital allocation frameworks, industry leading research on financial money flow, investment portfolio strategy, firm-wide balance sheet optimization efforts and surveillance of balance sheet strategy trends across the banking industry.

The scope of our quantitative analytics efforts spans the entire Firm’s balance sheet which is one of the largest commercial bank balance sheets in the world. This includes management of ~$0.5T cash holdings, ~$1.3T loans, ~$0.6T investment portfolio, ~$2.4T deposits and ~$0.6T funding and capital position.

Consumer Credit Banking (CCB)

CCB businesses rely on model: (1) to decision new credit applications or additional credit request; (2) to assist in efficient fraud detection; (3) to quantify loss reserve and to estimate future credit loss. CCB Risk Modeling is responsible for developing those models based on internal/external historical data.

Model Risk Governance Review (MRGR)

Model Risk Governance and Review (MRGR) provides oversight of the firmwide Model Risk policy, guidance with respect to a model's appropriate usage, and conducts independent reviews of models across the firm.

MRGR is composed of six distinct units as follows:

  • CIB Trading MRGR – Responsible for all front office pricing and valuation models in CIB, in addition to models used for e-trading.
  • CIB ex-trading and CB MRGR – Responsible for VaR and Market Risk Capital, Counterparty Credit Risk and XVA, Wholesale Loss Forecasting and CIB Data Science.
  • CCB MRGR – Responsible for CCB models.
  • AWM and CTC MRGR – Responsible for AWM, CIO, Treasury and Corporate including deposit and SIRR models, MEVs, compliance models and other corporate models.
  • MRGR COO – Responsible for MRGR operational processes, technology, review strategy and planning, project management of audits and regulatory commitments, and reporting.
  • Policy, Practice and Governance – Responsible for policies, procedures, standards, and cross-LOB governance activities.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm with operations worldwide. With over 55,000 technologists globally and an annual tech spend of $15 billion, JPMorgan Chase is dedicated to innovating and improving the design, analytics, development, coding, testing and application programming that goes into creating high quality software and new products. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Visit http://www.jpmorganchase.com/tech for more information.

Job Responsibilities

  • Work collaboratively across the entire organization to find and solve problems before they grow
  • Propose innovative ways to solve challenges and answer queries
  • Work on complex problems that require creative solutions
  • Manage relationships with clients, regulators and stakeholders to minimize risks and follow laws in various locations

Required qualifications, capabilities and skills

  • Enrolled in a Ph.D. or Master’s degree program in Engineering, Mathematics, Physics, Computer Science, etc. with an expected graduation date of December 2025 through August 2026
  • Demonstrate quantitative and problem solving skills as well as research ability
  • Ability to communicate concepts and ideas, both verbally and via documentation, and explain technical material to a non-technical audience
  • Knowledge of and proficiency in Python 2, Python 3, C, C++

Preferred qualifications, capabilities and skills

  • Understanding of advanced mathematics arising in financial modelling (probability theory, stochastic calculus, partial differential equations, numerical analysis, statistics, econometrics)
  • Knowledge of options pricing theory, trading algorithms or financial regulations

What’s next?

Help us learn about you by submitting a complete and thoughtful application, which includes your resume and location preference. Your application and resume are a way for us to initially get to know you, so it’s important to complete all relevant application questions so we have as much information about you as possible.

After you confirm your application, we will review it to determine whether you meet certain required qualifications.

If you are advanced to the next step of the process, you’ll receive an email invitation to complete a coding challenge powered by HackerRank and a recorded video interview powered by HireVue. This is your opportunity to further bring your resume to life and showcase your experience for our recruiting team and hiring managers.

HackerRank and HireVue are required, and your application will not be considered for further review until you have completed these steps. We strongly encourage that you apply and complete these required elements as soon as possible, since programs will close as positions are filled.

Applications will be reviewed on a rolling basis. We strongly encourage you to submit your application as early as possible as programs will close once positions are filled.

JPMorgan Chase is committed to creating an inclusive work environment that respects all people for their unique skills, backgrounds and professional experiences. We strive to hire qualified, diverse candidates, and we will provide reasonable accommodations for known disabilities.

Visit jpmorganchase.com/careers for upcoming events, career advice, our locations and more.

©2024 JPMorgan Chase & Co. JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran