CIB - NAMR Investor Services – Private Equity Alternative Investment Management Services – Associate/VP – NY
Job Description
J.P. Morgan’s Corporate & Investment Bank (CIB) is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
J.P. Morgan Investor Services combines Financing & Prime Brokerage, Custody & Fund Services, and Clearing, Collateral Management and Execution under a common umbrella. These businesses occupy top-tier competitive positions; the combination provides an expanded, integrated and best-in-class suite of end-to end capabilities. Investor Services employs more than 14,000 people around the world and generates more than $6 Billion in annual revenue.
Alternative Investment Management Services (AIS) is an industry-leading provider of hedge fund, private equity fund and hybrid fund accounting, investor relations and middle office solutions designed to meet the complex, global servicing needs of alternative investment fund managers. AIS is a trusted, stable partner—backed by a premier bank—and offers the most complete product suite in the market, including integrated cash management, derivatives, FX, liquidity, prime brokerage risk, and security lending solutions, designed to help optimize efficiency, enhance revenues and mitigate risk associated with global investing. AIS delivers an extensive solution for Hedge Fund and Funds clients seeking independent administration and custody services or to outsource their day-to-day operations.
This role will be responsible for a broad range of product related risk, control, governance, finance and regulatory related matters within JPMorgan’s Alternative Investment Services (“AIS”) group.
This individual will work closely with the AIS Product Control Executive to ensure a robust oversight environment exists across AIS product groups. Day-to-day responsibilities will involve this person working closely with functional business partners, including product managers, operations, finance, operations control management, technology, CIB Legal, CIB Risk Management and CIB Oversight & Controls.
This position provides an excellent opportunity for someone with a strong controls and operational mindset to help drive implementing a globally consistent controls model, which reduces errors, fines and losses and enables the business to operate in a more streamlined and effective way.
Partner with Product, Operations, OCM, Technology, Risk Management and Oversight & Controls to perform various control and oversight functions, including:
- Drive and execute the semi-annual CSA scoring and refresh process for Product Management, while ensuring close coordination with Operations, OCM & Technology.
- Implement the RCSA framework and ensure key risks are understood by product and reflected in Phoenix. Ensure controls are appropriate, and that the CSAs are consistently scored, tested & substantiated across AIS, as well as with the broader C&FS control team.
- Ensure issues are escalated, reflected in Phoenix, and delivered within agreed timeframes. Project Management of control related matters and various remediation efforts.
- Ensure controls are both appropriate and robust in design, to reduce operational, audit and regulatory risks.
- Develop, capture and manage data to effectively create key operational metrics for the PE administration platform.
Partner with Product Managers, Operations, OCM, Oversight & Control, Controllers & Regulatory Solutions to perform various regulatory related functions, including:
Perform various regulatory compliance and oversight functions, including:
- Coordinate with AIS Product Control Executive in order to implement a comprehensive program for monitoring regulatory changes and ensuring implications, dependencies and linkages are understood by AIS management and eliminate regulatory ‘blind spots’.
- Identify opportunities to improve regulatory compliance across AIS and drive projects aimed at enhancing AIS’ overall compliance landscape. Effectively partner with business units and technology to ensure on-time delivery of all requirements
- Refine existing regulatory inventories by working with Regulatory Solutions and ensure information is understandable and relevant to AIS Product Management.
- Project Management of regulatory related issues and remediation efforts.
- Monitoring of testing, substantiation and Daily Health Checks to identify emerging risk issues and proactively work with product managers, risk managers, operations and operations control management (OCM) to address.
- Ensure risk issues are escalated, reflected in Phoenix, and delivered within agreed timeframes. Ensure root causes are fully analyzed to avoid a recurrence of issues.
- Manage risk related projects and issues.
- Partner with the AIS Product Controls Executive to examine transaction acceptance and change management processes and committees to ensure processes meet management needs and properly control risk. Benchmark governance structure with that which exists within C&FS and more broadly across JPM to ensure ‘best-in-class’ approach.
- Coordinate with the AIS Product Control Executive to provide guidance and consistency in regards to SAE 16 requirements and audit inquiries.
- Coordinate with OCM and Operations partners to ensure business resiliency plans are appropriate and effective.
- Coordinate with Product Managers, Operations Managers and the Vendor Management teams to ensure AIS complies with all third party provider oversight policies.
- Partner with OCM and Operations Manager to ensure logical access protocols meet internal and audit standards.
- Manage product governance and committee related initiatives.
- Partner with operations teams to develop and standardize service level descriptions
Based upon the broad nature of this role and significant interaction with senior AIS staff, the business is seeking a motivated, self-starter with a proven ability to deliver, an ability to build strong business relationships, effectively interact with senior management & partner with others to meet internal / external imposed deadlines and drive timely resolution of issues.
- 3-5 years of securities industry experience required, in Alternatives, and Fund Services experience preferred
- Risk or control experience or operational experience required
- Experience using partnership accounting application, Investran is required
- Understanding of control self assessment (CSA), or similar, methodologies
- Experience interacting with senior management
- Strong persuasion skills
- Strong prioritization skills and an ability to deliver under pressure
- Proven experience with enhancing existing processes / procedures
- Strong attention to detail
- Strong presentation skills
- Politely impatient, persistent individual
- Proficient in the use of Microsoft Excel, Word, PPT and Access
- Accounting experience is preferable
- Must be self starter, exhibit leadership skills, and initiative
