JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Credit Risk Middle Office (CRMO) supports the credit approval and decision making processes for Credit Risk Management (CRM). CRMO is actively involved in the analysis of credit data and risk metrics in addition to identifying trends and issues which may impact the bank’s ability to manage credit risk.
The purpose of Credit Risk Middle Office is to establish and maintain a common approach to controls and operational workflows across the risk management infrastructure in support of Corporate Investment Bank. Credit Risk Middle Office provides operational support for Credit Risk Management which includes the following functions:
Facility creating and maintenance including processing counterparty line up and amending as per instructions by Credit in accordance with Credit Risk Policy.
Support Credit Officers with annual credit due diligence and ensure proposed facilities are processed correctly.
Exceptions monitoring from an operational control/data quality perspective
Investigation and resolution of overlimits, unlinked, ungraded and Stress Credit Exposures.
Leverage multiple credit risk infrastructure applications and complex user tools for exposure analysis and other exception reporting
A Vice President position in CRMO is expected to deliver on the following specific tasks and requirements:
Description of Responsibilities:
- People and resource management (e.g. people development, pipeline/skills monitoring, training programs) for team including managers and staff.
- Maintain effective and standard operational procedures
Provide operational support for Credit Risk Management by performing and overseeing various functions including line facilitation/maintenance, client data management, and over lines monitoring.
Review key metrics to measure controls, workflow capacity, system & team efficiency
Manage relationship with key Credit partners including Credit Officers, Business Management, global operations partners and technology
- Improve and maintain a controlled environment (e.g. necessary control activities along process lifecycle, team members fully understand risks and related controls)
- Lead and present business cases for changes that would improve business processes and see them through to completion
- Take responsibility for the quality of work submitted and ensure that the highest standards are maintained.
- Identify/ manage risk and control breakdowns
Anticipate and understand issues, and escalate appropriately for timely resolution.
- Manage the performance management cycle- Objective setting, development and career planning, performance appraisal and reward & recognition.
- Ensure adherence to SLA’s, internal metrics & firm wide policies.
Lead and/or sponsor initiatives which impact the Credit business and CRMO locally and globally
- 7+ years of Investment Bank experience with background in Middle Office or Back Office operations, Operational Risk or Product Control a plus
- Ability to deal with high level of ad-hoc requests and deliver under pressure with minimum supervision.
- Excellent organizational, problem-solving, time-management, communication and relationship-building skills.
- Analytical mind, investigative and ability to see big picture as well as the details.
- Strong product knowledge in Fixed Income and/or derivative products.
- Ability to work effectively both independently and as part of a global team.
- Control mindset to identify process control gaps, prioritize & mitigate operational risk.
- Analytical mindset and high attention to detail.
- Ability to multi-task effectively to meet tight deadlines.
- Ability to negotiate & influence at appropriate levels.
- Ability to manage internal clients & stake holders.
- Strong proficiency in Microsoft Excel & PowerPoint a plus.
- Problem solving skills and ensure quick resolution by coordinating with relevant groups.