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 Private Banking (PB) Credit Risk Management (CRM) Operations team monitors all JPMorgan PB 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 CRM team is 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. Additionally, the team is responsible for ensuring compliance with all covenant requirements, including escalation where needed. 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:
• Provide risk reporting support to the PB’s Capital Markets team
• Develop queries that involve the usage of SQL
• Understand various federal regulations such as Reg W, Reg U and Reg T that govern the way we manage collateral; provide reporting that monitor activity to ensure we are in compliance
• Provide analysis concerning portfolio as needed; this could include adhoc collateral impact analysis due to market fluctuations or fluctuation in currencies.
• Manage initiatives to resolve control gaps and enhance current processes for further efficiency and effectiveness as needed.
• Participate in credit system defect identification, UAT testing, and ongoing business requirement discussions.
• Review and understand new agreement terms and documentation.
• Set-up agreement terms regarding collateral in credit systems for ongoing monitoring.
• 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 adequate. Intraday transactions are inclusive of cash and security movement within pledged accounts as well as loan and letter of credit draw downs.
• Manage third party pledge scenarios.
• Validate and issue margin calls to Financial Advisors.
• Track and Assist in resolving margin calls.
• Manage inquiries from Bankers, Brokers, Lenders, Client Services on margin lending topics.
• Provide training to Credit Risk Management Team and other group as required.
FINRA Series 99 required within 120 days of hire
Minimum of three years working experience in a collateral group and or reporting group
• Knowledge of SQL a plus
• Strong reporting skills required
• 3 or more years of collateral management or regulatory reporting required
• Must be able to manage day to day work in addition to managing multiple projects
• Strong detail and results orientation
• Strong verbal and written communication
• Strong analytic skill
• Must be self-motivated and able to work independently
• High-level of proficiency in organizing, prioritizing, and managing issues
• Advanced Excel skills; Microsoft Access Skills a plus
• BA/BS or equivalent in a business field