jp morgan Asset Management Risk Summer Analyst Internship

I am having an incoming interview with JPM, and the position is Asset Management Risk Summer Analyst. Does anyone know what this job is about and the exit opps? Thanks!

Below is the selected jd:

Understanding, mitigating and managing risk is at the forefront of how we do business, and critical to our current and future success. Risk managers help manage our financial reputations and regulatory performance, while working across the business to shape decisions, influence models and interfacing with regulators.

As an Asset Management Risk Summer Analyst, you will work alongside our top-tier professionals at the heart of a leading global bank. Risk is at the very core of what we do, which means your work will help us protect the capital of the firm and influence the performance of the bank across our entire product range.

As an Asset Management Risk Summer Analyst, you may be placed in one of the Risk functions described below.

Counterparty Risk is the risk arising from a debtor’s failure to meet the terms of a contract. In this role, you’ll assess those we do business with and make recommendations about their ability to repay obligations.
Fiduciary Risk largely arises from failure to comply with fiduciary, legal, regulatory and contractual standards and requirements, and from failure to appropriately manage conflicts of interest. Fiduciaries, under applicable law and regulation, must act in accordance with a higher standard of care than non-fiduciaries, and as a result are exposed to substantially greater reputation risk and potential liability.
Investment Risk results from the possibility that the actual return from an investment may differ from what is expected. This risk is borne by clients on whose behalf Asset Management has invested. Investment risk includes market risk, interest risk, issuer risk, leverage risk and liquidity risk.
Credit Risk is the risk to earnings or capital arising from an obligor’s failure to meet the terms of contracts with the lender or otherwise to perform as agreed.
Operational Risk is the risk to earnings or capital resulting from inadequate or failed processes or systems, human factors or external events.
In addition, Asset Management Risk has a large focus on upgrading its tools and technology. A summer analyst on any of the teams may also be involved in providing business requirements and conducting user testing for risk tools and technology that support the above functions.

 
Best Response

I applied online for the Asset Risk Management Summer Analyst Internship online and of the multiple types of AM risk they cover (and the ones listed in the description above: counterparty, fiduciary, investment, credit, operational) I was selected to interview for the Investment Risk Management position within GWM.

Please describe the interview / hiring process:

I couldn't find squat about this position prior to my interviews so this is pretty much all you have to go off of. Started off with a phone interview with someone on the Global Wealth Management (GWM) - Investment Risk Management team. Pretty basic interview Qs...nothing technical. Know why you want to do risk, why JPM, etc. "Tell me about something that is going to change our industry" I had a pretty solid answer and was clear about it but was asked a few follow ups about specific details....after I already did multiple times. Because of this, I definitely didn't think I'd make it to the superday, but I did. superday was pretty much the same questions: why risk, why JPM, going through and picking apart your resume, having you talk about your experiences, how you stay current, and then some behaviorals like how I define success, 3 weaknesses & 3 strengths, what I do to learn outside of school (reading, modeling courses). Also asked about where the markets are at (S&P not DOW), 10 year Treasuries, oil. Heard back two weeks later.

What were the most difficult or unexpected interview questions asked?:

I basically wrote down everything I could think of above. I've met one person working risk at a BB before and he was a pretty lifeless guy. The people on JPM's Investment Risk team were MUCH more enjoyable...in fact they were great whether they were risk or not. I had quality conversations with the 4 team members (of 11 total) I met and had a great experience overall. Only con was communicating with HR after the interviews...but JPM is massive so I guess it's expected. Again, look above for the interview questions.

How did you answer each of these questions (please be specific)?:

I really regret not researching the crap out of JPM and give them an answer that would blow their socks off to "why JPM?". I feel like that's the 2nd most important question after "tell me about yourself" if not of the same weight. I'd really just figure out the best answers to why risk and why JPM specifically. Mention the culture and the people for sure. Know your resume extremely well too. They'll pick it a part just as any other firm would so do some mock interviews with someone you're comfortable with and get their opinion about your answers and perfect the balls out of it.

(I know the interview process is already over souptpt, but for anyone who ever interviews for this position, this is basically the only info on it as of this post)

 

I do know someone at JPM but he pushed my resume through for a different position that I never heard back from. I honestly think this was just a lucky draw for me. I applied online for a bunch of their internships and happened to hear back from this one.

I am interested in finding out what goes on behind the scenes when you have a reference at a BB like JPM if anyone happens to know what that process is like..

 

I turned down the offer to attend the superday, so can't comment on that aspect. But I had a very similar experience to Ron_Burgundy for the initial phone interview. Questions were the generic behavioral ones you would expect and could easily prepare for. They are literally reading questions from a sheet and writing down your response. I've had interviews with other divisions at JPM and I've come to realize they actually all use the exact same ones for first round interviews. My biggest piece of advice is make sure you know what group within Asset Management risk you are interviewing for, as I got stuck with one which was of zero interest to me.

 

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