J.P. Morgan Asset Management, with client assets of $2.4 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.
Global Wealth Management (GWM) is part of the Asset & Wealth Management business segment. It has offered for over 160 years customized solutions and client service of the highest quality to solve the complex needs of wealthy individuals and their families around the world. With assets under management of $1.25 trillion, it is one of the largest asset and wealth managers in the world.
Introduction to Role
The global focus on Anti Money Laundering (AML) and Know Your Client (KYC) is increasing and leading to new roles and opportunities within JP Morgan. GWM is establishing a market-leading function to help manage the regulatory risks involved in Onboarding clients with special attention to meeting the regulatory Account Opening, AML and KYC requirements. This is a great opportunity for the right individuals to work in a fast paced dynamic team and to help identify and establish best practices within JP Morgan and the industry.
The Client Onboarding Officer will be part of the global Middle Office Operations team supporting all aspects of client Onboarding to include the fulfilment of Anti Money Laundering (AML) and Know Your Client (KYC) requirements as well as account opening. The Client Onboarding Officer will partner with the client-facing teams to ensure all client KYC records are compliant with regulatory standards, and will ensure high quality and timely completion of all client-level due diligence requirements at the onset and renewal of client relationships. The Client Onboarding Officer will own the end to end Onboarding of new clients, including account opening, pre-filled documentation, and subsequent periodic renewal processes of all clients. The Client Onboarding Officer will make independent recommendations regarding AML risk at a client level prior to final review by the client-facing team. The Client Onboarding Officers are expected to stay current with all regulatory changes and requirements around client KYC, Suitability and Documentation, as well as, any product or account opening procedural changes.
- A strong sense of ownership and responsibility
- Drives results through leadership, people, communication and influence
- Comfortable with change, ambiguity, debate, conflict and informed risk taking
- Multi-tasker who can manage multiple streams of work concurrently
- Willingness to make decisions, while ensuring buy in from stakeholders.
- Strong relationship building skills
- Detail oriented
- Partnering with the client facing teams to collect required legal documents and associated information to meet all regulatory and internal polices
- Act as a subject matter expert on required legal documents and process to onboard a client to PB platforms
- Undertake quality review of clients’ KYC records
- Manage and facilitate client due diligence, including coordinating the participation of JPMorgan stakeholders who have KYC responsibilities
- Serve as point of contact for Account Opening and KYC and reporting issues for designated clients
- Act as a KYC and AML subject matter resource for KYC due diligence teams
- Act as a subject matter resource on the KYC/AML policies and procedures
- Participate in annual AML discussions with clients
- Discuss and escalate with Compliance complex issues surrounding client types and structures, financial products and services, and other AML risk-related issues
- Pre-fill account opening documentation based on input from Bankers or directly from the client
- Track and respond to inquiries related to documentation status.
- Perform other duties and/or special projects as required.
- BS/BA Degree - Accounting, Finance, or Business preferred or equivalent military experience
- 3 to 5 years of experience with in a financial services, operational or compliance fields
- Prior experience in AML / KYC a plus
- Management Experience preferred not required.
- Client Onboarding and/or documentation analysis experience preferred.
- Strong written and oral communication skills
- Ability to get up to speed quickly with new or unfamiliar subject matter.
- Strong client focus and ability to partner with various internal groups and client coverage
- Independent, self-motivated, with an ability to adapt and be flexible in a team environment
- Ability to communicate clearly and confidently; able to influence internal and external stakeholders
- Ability to directly address conflicts and escalate issues where appropriate
- Strong analytical, prioritization, multi-tasking, problem solving and organizational skills
- Strong risk and controls awareness
- Capacity to think laterally and convey an understanding of the big picture
- Maintains a sense of urgency and ability to prioritize/multi-task
- Ability to successfully navigate a complex infrastructure that involves numerous groups and individuals
- Demonstrated experience as a key contributing member of a high performing organization
- Ability to work under pressure and to fixed deadlines