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
GWM is establishing a market-leading function to help manage the regulatory risks involved in onboarding clients with special attention to meeting the regulatory Anti-Money Laundering (AML) and Know Your Client (KYC) requirements. Key priorities include developing processes and procedures and driving global consistency as they are implemented to meet new and enhanced standards, along with having the appropriate controls, monitoring, and reporting in place. To be successful, the candidate must have a proven track record of effective leadership relative to change management and process re-engineering. 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.
JP Morgan is currently seeking a senior-level Vice President candidate to be based in the Phoenix, Columbus, or Brooklyn Onboarding Location Hubs. It is anticipated that this role may require up to 10% occasional travel.
The Vice-President of Client Onboarding Risk and Controls will be required to partner closely with key business and operations teams, Compliance, Internal Audit, respective Regulators, and senior management to ensure accurate and complete metrics and to build and implement an appropriate quality assurance, risk, and control infrastructure for the business. The primary focus will be to support business as usual risk mitigation and key initiatives to improving controls across the Client Onboarding space. The Vice-President of Client Onboarding Risk and Controls will have strong analytical skills and communication skills (verbal and written). The candidate will need to work effectively in a team environment and must be able to adapt to a rapidly changing business and technological environment. They must be able to work on multiple tasks simultaneously and have strong organizational skills that enable them to prioritize their work accordingly.
• Work closely with key business stakeholders, including but not limited to Regional COOs, Legal, Compliance, Business Management, Oversight & Control, and Technology on fulfilling responsibilities of the Client Onboarding Risk and Controls team.
• Ownership of and proactive management of the Risk Controlled Self Assessment (RCSA) process; Identify processes, activities, risks, and controls related to the Client Onboarding model to maintain a robust global assessment.
• Assess business risks with current processes; Work with Regional Leads and teams to ensure adequate detective and preventative controls are in place to mitigate risk.
• Lead and manage global RCSA testing cycle; manage testing calendar; validate BG&Ps; assist in performing control tests; and validate test strategies.
• Identify gaps in procedures and/or controls; liaise as necessary with other business units and stakeholders to escalate issues for resolution.
• Proactively manage Action Plans within client onboarding organization, including opening of action plans, issue and severity identification, identify milestones, oversight of plan tasks, validation, manage chain of approvals and closure.
• Foster awareness of the RCSA and Action Plan process across the Client Onboarding organization and create process, policies, and procedures as necessary to proactively manage the RCSA risk stripe and drive global consistency.
• Perform root cause analysis and work with appropriate groups to recommend controls and solutions when researching risk events, operational processes, and new regulatory initiatives.
• Manage emerging issues arising from audits and/or compliance testing.
• Establish quality metrics and results to identify recurring control issues and track trends. Proactively assess areas for process improvement and make/propose changes as needed.
• Develop and manage timely and effective communications across the line of business.
• Create and support various management reporting tools, including scorecards, weekly executive summaries on open action plans, and other executive reporting needs.
• Act as a subject matter expert on RCSA matters.
• Facilitate meetings, prepare documentation, and meeting minutes, as necessary.
• Bachelor's degree or higher in Accounting, Finance, or Business preferred
• 5-7+ years of experience within a financial services, operations, audit/compliance field preferred
• Knowledge of AML/KYC requirements preferred
• Strong knowledge of risk and control techniques/procedures
• In-depth knowledge of risk management techniques from both a detection and mitigation perspective
• Continuous improvement and change management mindset, questioning conventional ways of managing the business and driving change to improve processes
• Ability to work effectively in a team environment and ability to adapt to a rapidly changing business and technological environment.
• Must possess excellent analytical skills, in addition to strong interpersonal and communication skills.
• Strong organizational and time management skills, including prioritization.
• Strong sense of accountability and ownership over "quality" and best practices around the quality, risk and controls process.
• Flexible and able to work in a fast-paced environment to effectively meet deadlines.
Please note that J.P. Morgan will not accept unsolicited approaches or speculative CVs, nor will J.P. Morgan be responsible for any related fees, from Third Party Firms who are not preferred suppliers.
The firm invites all interested and qualified candidates to apply for employment opportunities.
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