As most of us already know, J P Morgan Chase is one of the largest banks in United States and provides various financial services including investment banking, asset management, private wealth management, treasury and securities services etc. In the retail banking Chase is a well-known name across US. But what many people do not realize is that the Banking industry today relies on technology significantly. So, to meet its needs and as a leader in the industry, J P Morgan builds several of its technology products and requirements in-house and has significant resources dedicated to it.
To share some of the insights about their work in Technology and Data Analytics, a panel from JP Morgan Chase visited NYU’s Center for Data Science this fall for an information session. The purpose of the session was to share details about some of the interesting work happening at JP Morgan and how a Data Scientist is crucial to JP Morgan’s progress. The panel members included people from different roles and teams at JP Morgan to present a diverse perspective.
J P Morgan is utilizing Big Data and Data Science heavily, just like many others in the Finance Industry. Due to its reach into the market, JP Morgan has acquired a huge data set of financial assets and transactions across the world and they utilize it to generate insights and help community, individuals and businesses to grow. Some of the high level tasks which involves Data Scientists include building a recommendation engine, predicting stock market behavior, Trading, Portfolio Management, Risk Calculation, Cyber Security, etc. Intelligent Solutions Team, at JP Morgan, is one of the teams, where some of the most innovative data science work is happening. The Intelligent Solutions work with other teams within JP Morgan and provide solutions to the problems. There are also other teams like New Product Development and also some of the customer side teams which are using data science to develop smart products and decisions for the bank and its clients.
The session was quite interactive. Students felt curious about the prospects of doing Data Science Predictions and Analytics in the domain of Finance. Also the JP Morgan panel members really liked the audience’s questions and fascination in their work.
In a nutshell JPMorgan was successful in giving a good insight of Data Science’s role at financial Institution and JP Morgan in particular. And also, they shared the career opportunities at JP Morgan which they invited the students to apply to.
Article by Rishabh Jain