Chase Alumni Association

 

Michael Jacobs, Jr., a Senior Vice President at Chase from January 1999 to May 2005 with a specialty in risk modeling, risk model validation and model risk management, died on February 10, 2026, at the age of 58.

 

 

Jacobs, Jr., while following in his family’s footsteps of academic and professional accomplishments, also valued team sports participation and individual fitness. During his formative years at Stuyvesant High School in the late 1980s, he was a standout athlete on the varsity football and wrestling teams. He also made the varsity football team as a freshman at SUNY Stony Brook. Jacobs often noted that his sports activities demanded the same discipline and strategic thinking he applied later in his academic and professional career. After his football days, he ran at least five days a week, followed by a demanding gym workout. In fact, he ran as usual, and no matter the weather, early in the NYC morning on the day that he died.

 

At SUNY Stony Brook he received a Bachelor of Engineering (BE) in Engineering Science in 1992 and, in 1994, an MA in Mathematical Economics and Statistics. In 2001, he earned a PhD in Finance from CUNY Baruch College. His doctoral research specialized in quantitative modeling and risk management. He later added the Chartered Financial Analyst (CFA) to his credentials.

 

After a couple of years at Sumitomo Mitsui, Jacobs joined Chase in 1999. Among his activities there was his participation in JP Morgan-Bank One risk systems integration and measurement of  the credit risk arising from derivatives and counterparty exposures.

 

The depth of his academic knowledge continued to underlay his subsequent, extensive career across major financial institutions, consulting firms, and federal regulatory agencies; for seven years, he was a Senior Ecoomist in the Office of the Comptroller of the Currency.

At the time of his passing, he was serving as a Senior Vice President and Lead Qualitative Analytics & Modeling Expert at PNC Financial Services Group.

 

Jacobs was also a prolific researcher and contributor to over 60 papers in the field of quantitative finance. He was a well-known and respected related subject matter expert and a highly demanded speaker at national and international professional conferences.

 

He is survived by his long-time partner of almost 30 years, Sheri G. Spencer. In lieu of flowers, donations to a CUNY scholarship fund (not yet finalized) would be appreciated. Scholarship details soon to follow.