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.
Global Wealth Management Operations supports the JPMorgan Private Bank in JP Morgan’s Asset Management line of business. The Private Bank is the world’s premier service provider for ultra and high net worth individuals. Our goal is to help these affluent individuals across the globe optimize their wealth, after taxes and across generations. Global Wealth Management Operations provides end-to-end support for all aspects of the client experience, working closely with client service, fiduciary, product specialty groups, third party vendors and other internal groups.
The Credit Risk Management (CRM) Team is part of the Credit Middle Office. The team monitors all JPMorgan Asset Management (AM) exposures (loans, OTC derivatives, and brokerage margin loans) secured by financial (equities, fixed income, etc) and other asset types. They manage intraday transactions and exceptions related to secured credit facilities and pledged collateral. The team is responsible for ensuring compliance with all covenant requirements. They are also responsible for global reporting and analytics for portfolio reviews, collateral concentrations (industry, security, country, emerging markets), shortfall trends, derivative exposures, issuer risk, and problem assets. The functions performed by this team are critical to protecting the bank from potential credit losses.
The analyst will be part of a team with the following responsibilities across the PB domestic and Latam portfolios:
• Review and understand new agreement terms and documentation.
• Set-up agreement terms regarding collateral in credit systems for ongoing compliance monitoring. If credit systems cannot support the monitoring of the arrangement, set-up the agreement for monitoring offline.
• Monitor collateral daily and identify non-compliant scenarios. Confirm the accuracy and escalate to Credit and Bankers for resolution plan and date determination.
• Manage requests for intraday transactions and approve if collateral position and/or covenant compliance is adequate. Intraday transactions are inclusive of cash and security movement within pledged accounts as well as loan and letter of credit draw downs.
• Manage amendments to original agreement terms, including lending value and covenant requirement changes and ensure they are accurately reflected in credit systems for ongoing compliance monitoring.
• Manage third party pledge scenarios when the client’s exposure secured by assets held internally is external to JPM AND when the client’s exposure secured by assets held externally is internal to JPM. Regularly update credit system valuations regarding the external assets.
• Participate in credit system defect identification, UAT testing, and ongoing business requirement discussions.
• Respond to Hotline inquiries.
• Manage initiatives to resolve control gaps and enhance current processes for further efficiency and effectiveness as needed.
• Provide analysis concerning portfolio as needed.
Overtime may be required as determined by business.
The analyst will work very closely with Credit Middle Office leadership, Credit, Capital Advisory, and Bankers to manage collateral and secured or unsecured credit exposure, execute client requests, identify and escalate credit issues, and manage risk.
• Strong detail and results orientation
• Strong independent judgment and awareness of appropriate escalation
• Strong verbal and written communication
• Strong analytic skill
• Must be self-motivated and able to work independently
• Strong team player
• High-level of proficiency in organizing, prioritizing, and managing issues
• Minimum 2 years prior experience in a related position
• Intermediate Excel skills
• Knowledge of bank systems and loan/credit operations a plus
• BA/BS or equivalent in a business field