About JP Morgan Asset Management
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.
GIM/GWM fraud is a new function that is being created to centralize and drive fraud prevention activities across AM. The new function will drive and co-ordinate activities across a number of partner organizations such as Client Service, Risk, Cyber Security, Technology and Oversight & Control to ensure the business is well positioned to meet the both present and future fraud threats that impact the business
The position is a newly created position for AM. The role holder will be a critical part of the build out of the fraud function whose objective is to protect the assets of both JP AM clients and also the firm itself. The key functions of the role holder will be to
• Management of fraud losses - Work across payment channels by continually monitoring for incidents, performing root cause analysis, determining recommendations and presenting findings to various audiences (all levels of staff and management) in various ways (verbal, written, presentations). Work with other LOBs whose channels we leverage
• Data Mining / Analysis of Trends - Ability to use SAS and other data mining tools to create and analyze large data sets with the end goal of detecting fraud trends and making recommendations for changes based on these trends.
• Work with product and development teams - to design and develop risk controls for new and existing products (especially in the online and mobile channels)
• Manage & Influence fraud rule sets – manage and optimize AM owned transactional fraud rule sets to ensure fraud risk and client experience are balanced within appetite. Work with partner LOB’s to influence their rules to ensure that they reflect the AM business model appropriately
• Technology – Work with technology projects both within AM and outside AM (CCB and CIB) to ensure appropriate fraud controls are embedded in new technology projects.
• Analytics and MI – Drive and automate fraud MI to ensure that senior stakeholders understand the key issues driving losses. Ensure the MI is concise and identifies the key fraud KPIs that need to be monitored to assess fraud performance on a daily, weekly and monthly basis.
• Other duties as assigned
• Bachelors degree required (quantitative or technology related degree preferred, Masters degree a plus)
• Prior experience in online or mobile product development, risk management, fraud operations or audit
• Work experience in a large financial institution and/or online payment vendor is a plus
• Demonstrated data mining and analytic skills
• Proven track record of initiative conception and implementation
• Strong written and verbal communication skills
• Ability to work in cross-functional teams across marketing, risk, and technology groups
• Ability to work independently and produce results with minimal supervision
• Fraud management experience – Preferably in a large financial services organization
• Payments experience – Deep understanding of payment systems for both domestic and international payments.
• Client facing experience / Strong communication skills – Understanding of how to manage difficult situations with clients and strong communication skills in order to ensure clients understand next steps and what is required from them in order to remediate fraud issues