CIB Chief Data Office
Business Analyst / Project Management
About J.P. Morgan Corporate & Investment Bank
J.P. Morgan’s Corporate & Investment Bank (CIB) is a global leader across banking, markets and investor services. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
CIB Business Architecture and Transformation is a dedicated team of project and client facing resources focused on large scale change initiatives to address Industry, Client and Business requirements across the Corporate & Investment Bank (CIB). The group provides a unique mix of project skills and product experience that are not tied to a specific business enabling it to provide a consistent, high-quality and responsive approach to the way we manage and execute change across the firm.
Within the CIB Business Architecture and Transformation Group the Chief Data Office (CDO) is accountable for transforming the CIB approach to managing data to create an industry-leading data environment in terms of control, cost, and revenue opportunity. The program scope will encompass cultural, behavioral, procedural and systemic transformation across the full range of data domains. CDO offers a unique opportunity to be part of a journey that drives the strategy of how we manage data in the future – our key raw material for efficiently managing the business.
Gartner Article – “Gartner estimates that 90% of large organisations globally will have chief data officers by 2019. Business leaders are starting to grasp the huge potential of digital business, and demanding a better return on their organisations’ information assets and use of analytics,” said Gartner research vice-president Mario Faria. “It’s a logical step to create an executive position – the CDO – to handle the many opportunities and responsibilities that arise from industrial-scale collection and harnessing of data. “The CDO’s role will raise expectations of better results from an enterprise information management strategy, with stakeholders wanting a clear idea of the exact mechanics of making success a reality.”
What data does J.P. Morgan have? Who uses it and for what purpose? How good is it? Who should employees call when the data quality is too low?
These are simple questions that any data-centric organization should be able to answer; however, this has become increasingly challenging for financial institutions as more and more information is collected and stored. The inability to answer these basic questions can pose significant financial, regulatory and reputational risk for financial institutions, many of which are still playing catch up with the pace of change.
“The products and services J.P. Morgan offers clients are broadly not physical – they ‘live’ in the data held in systems and user tools,” says Paul Cairns, chief data officer for the CIB. “So data is one of our biggest assets; at the same time the complexity of our data is comparable to companies such as Google and Facebook, so we need to leverage their best practices in terms of 21st century data management.”
All JPM lines of business (LOBs) need to accurately capture and maintain data. Data quality in this area is critical to the success of the firm. The core 2016 CIB CDO work is defined as follows:
CIB Governance – In order to transform our approach to managing data, CDO is building new capabilities that recognize data as a business asset, including establishing business data ownership, information modelling and implementing a principled approach to data sourcing. CDO also benchmarks the maturity of JPMC’s Data Management practices against our peer group and against Data Management best practice
Data Quality Auditing and Testing – Data Quality has substantial impact to Regulatory (e.g $10m+ fines for MIS reporting on the street), Operational risk and Client perception. This steam is focused on building out proactive testing capabilities for fine avoidance; reduce rework caused by data quality issues and better client face.
Data Quality Issue remediation across CIB Finance & Risk – focus on key priorities to reduce monthly manual adjustments significantly
CIB Data Quality Issue Tracking for Operations – build out operating model within CIB Operations to log and track data quality issues within CIB. Enable CDO analysis around common themes & priorities within Tech and Ops groups
CIB Party Reference Data – also known as client reference data, this stream has identified a significant opportunity to make a real difference to the business by addressing party reference data quality issues and recommending strategic solutions
The successful candidate will support the CIB CDO book of work. Specific areas of focus for 2016 will include:
Drive the development of new, knowledge management infrastructure in partnership with technology
Support driving the business case for a new Data Ownership capability for CIB
Collaborate and drive on the development of data governance practices for CIB
Partner with technology to embed the use of the knowledge management infrastructure across CIB in particular with Data Owners
Develop new senior management MIS around Data Ownership
Drive and collaborate with subject matter experts across CIB to develop information assets such as a glossary of business terms
Support the development and governance of information assets such as taxonomies
Support the integration of information assets into operational processes such as data quality management
Opportunity to travel
Key Roles and Responsibilities:
Analysis and understanding of existing and new meta data components and how they integrate to support knowledge management and data governance
Identification and development of use cases for Data Ownership capability
Development and implementation of strategic data sourcing, including embedding new operational processes outside the Chief Data Office
Project management including planning, delivery issue management and status updates
Develop requirements for the use of knowledge management infrastructure, in particular with Data Owners
Collaborate with subject matter experts to agree the metrics for Data Ownership
Proactively manage stakeholders across CIB, other divisions of the firm and to a senior level
Manage the delivery of a glossary of business terms for CIB
Collaborate within taxonomy governance processes to ensure taxonomy requirements are met
Collaborate with teams in and outside of Chief Data Office to add value through the use of information assets
Skills Required / To Be Developed
- Strong organizational influencing skills
- Ability to lay out current state, synthesize analysis and create recommendations
- Excellent analytical and problem-solving skills
- Attention to detail and investigative skills
- Ability to clearly define and articulate business requirements
- Excellent communication, presentation (both oral and written)
- Confidence in communicating internally at all levels; candidate will be dealing with stakeholders of varying degrees of seniority (up-to Managing Director level) across front office, middle office and technology teams
- Strong partnership record and ability to build effective business relationships
- Effective change management skills
- Strong time management skills; efficient at multi-tasking and able to work under pressure to deliver multiple business demands on-time, to a high-level standard
- Understanding of logical data models, meta data and information architecture would be beneficial
This role is a rare and outstanding opportunity within JPMorgan and will offer the candidate the opportunity to join a recently formed high profile team and take a leadership role within the CIB strategic initiatives group to manage one the most significant change programs. The role also offers significant opportunity to understand a holistic view of the different areas of the CIB business which may help them identify their future areas of interest and career path.
JPMorgan Chase is an Equal Opportunity and Affirmative Action Employer, M/F/D/V