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AM Risk - GWM Fiduciary Risk - Vice President - New York, NY

Job Description

Global Wealth Management Risk Management:  Fiduciary Risk -Vice President


JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 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.


The Private Banking business provides trustee, investment management, and related fiduciary services to wealthy individuals globally totaling $500bn in assets and must uphold our fiduciary obligations (“fiduciary risk”).  Fiduciary risk is the risk that results from the failure to exercise the applicable standard of care, failure to act in the best interests of the clients or treat clients fairly as required under applicable law or regulation, potentially resulting in regulatory risk, reputation risk, and financial liability

 

The Fiduciary Risk Management team is responsible for proactive management of financial, reputation, regulatory, fiduciary, and operational risks incurred by the Bank as a provider of services to its clients; ensuring an effective, risk-aware business environment in Private Banking.


Fiduciary activities monitored include, the introduction of new products and investment strategies; review and approval of pricing strategy of discretionary products and services to ensure reasonable fees with full and appropriate disclosures; review the higher risk operational activities ensuring appropriate policies and procedures are reviewed and approved by senior management; ensure decisions made mitigate any potential conflicts of interests, review trustee activities to ensure JPMorgan is balancing the interests of income vs. remainder beneficiaries and managing co-trustee relationships effectively.


Duties include, but are not limited to
:
  • Establish and maintain risk governance framework, ensuring that the first line of defense has appropriate policies, procedures, and committee framework
  • Lead and co-own Fiduciary Risk Committees driving agenda items, prioritization, review minutes, and address follow ups related to risk issues
  • Participate in New Business Initiative process  (NBIA) for new products and exit of products
  • Review and analyze significant Line of Business risk and control metrics to identify trends or issues, including regulatory and audit developments
  • Drive projects relevant to fiduciary risk or oversighted related to governance
  • Review complex, large and/or bespoke business activities;  providing guidance for mitigating risks for higher risk transactions
  • Partner with Business and Compliance to respond to Regulators and Board of Directors inquiries
  • Interact with technology teams to improve risk monitoring tools, MIS, and enhance risk oversight capabilities to support new products
  • Work on other ad hoc risk related projects as needed

  • Ability to work independently, set priorities and deliver results (under tight time frames and pressure)
  • 4-7 years work experience in Private Banking Risk Management or other Risk Management capacities, Consulting, Compliance, or Audit
  • Strong interpersonal communication, listening, and writing skills.  Candidate must be comfortable speaking in front of groups and on a “one-on-one” basis
  • Strong quantitative skills and attention to detail  in addition to be process oriented
  • Ability to work well on a global integrated team
  • Ability to effectively communicate with all levels of personnel within the Private Bank
  • Proficiency with Microsoft Office Suite

Req #: 160041536
Location: New York, NY US
Job Category: Asset Management
Employment Type: Full Time
Potential Referral Amount: US Dollar (USD)

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