CIB CAO – Regional Financial Market Infrastructure and Agent Bank for EMEA - VP– London
J.P. Morgan’s Global Market Infrastructures (GMI) is a global function within the Chief Administration Office (CIB), responsible for managing the Firm’s network of critical third party providers to meet the Firm’s requirements for cash and securities services for its proprietary and client activities. These critical providers include Financial Market Infrastructures (Payment Systems, Central Counterparties, Securities Depositories and Cheque Clearing Systems) and Agent Banks (cash correspondent banks, partner banks and securities sub-custodians and clearing banks).
GMI leverage the standards of the Firm’s Third Party Oversight (TPO) program to select, maintain and exit Financial Market Infrastructures (FMIs) and Agent Banks in scope, thereby meeting the Firm’s regulatory requirement to manage critical third parties as well as the Firm’s standards and client expectations. In doing so, we support and work closely with all the Lines of Business (LOBs) across the Firm.
Within GMI, the Market and Infrastructures Management (MIM) team is responsible for the procurement, management and oversight of the various aspects of the Firm’s membership and relationship with FMIs and Agent Banks, meet the TPO requirements, assess the underlying risks, ensure we meet all regulatory requirements, and manage our spend. The MIM team is also responsible to understand the markets covered, track and evaluate market developments, lead and participate in market or industry discussions to represent the interests of the various LOBs and their clients. Where we are represented on the board of FMIs or FMI committees, we act as coordinator across the businesses, briefing the relevant JPM parties involved and fostering strategic discussions to represent the interests of the Firm and the Firm’s clients.
The Market and Infrastructure Manager for the EMEA region is responsible for a portfolio of FMIs and Agent Banks across the region, working in partnership with the MIM Core Delivery team to meet our key deliverables.
The MIM team works closely with the GMI Network Service Management (NSM) team in the areas of performance management, regulatory reporting and audit, and with the GMI Network Client Consulting (NCC) team for communicating the market information to the LOBs and their clients.
Roles and Responsibilities:
· Negotiate contractual arrangements and fee schedules, where applicable, and manage JPM spend with FMIs and Agent Banks
· Manage a portfolio of FMI memberships and Agent Bank relationships, managing the external interfaces with the relevant people and functions within the FMIs and Agent Banks up to senior levels both for escalation and strategic discussions, and also with the local regulators, where required
· Develop and maintain profiles for the most critical FMIs, coordinate the various aspects of our relationship across LOBs, and brief and guide the relevant people ahead of key meetings and decision points
· Conduct periodic due diligence reviews with the FMIs and Agent Banks, address TPO requirements with the support of the Core Delivery team, Legal, Market Infrastructure Risk, Third Party Risk Management and CIB Resiliency teams
· Identify risks and issues and articulate recommendations to ensure the most optimal and effective use of FMIs and Agent Banks in the markets where we operate
· Provide detailed market expertise to support the LOBs and their clients, analyse and draft market information updates/news, conduct research and drive the opening of new markets
· Support the Network Client Consulting (NCC) and Network Service Management (NSM) in responding to regulatory and audit requirements and clients enquiries including investor documentation requirements, market developments, market infrastructure reviews and market issues
· Update the relevant LOBs should market events and crises situations occur, whether impacting the Agent, the FMI and/or the whole market
· Participate in global projects and/or information gathering impacting FMIs and Agent Banks whether initiated by GMI or by the LOBs
· Lead Request for Information (RFIs) and Request for Proposals (RFPs) to assess and select new Agent Banks or services provided in a specific market or region, and work with NSM to transition to new Agent Banks
· Work with the LOBs to ensure the relevant requirements are met as part of the NBIA or ABIA processes when engaging with new FMIs or Agent Banks, or buying new services from existing ones
· Proven experience and knowledge in the payment and securities industries
· Previous experience working with or dealing with FMIs and Agent Banks, and with Third Party Oversight (TPO) is preferred
· Strong skills in the areas of Risk Management, Compliance and Oversight and Control
· Strong relationship management, influencing and negotiation skills
· Strong communication (verbal and written), analytical and project management skills
· Self starter with a strong ability to work across the global GMI team, across the Firm, developing partnerships with the LOBs that we support and the functional areas that we leverage
· Attention to detail combined with an ability to absorb a large amount of information, articulate recommendations and develop a strategic approach
Please note that J.P. Morgan will not accept unsolicited approaches or speculative CVs, nor will J.P. Morgan be responsible for any related fees, from Third Party Firms who are not preferred suppliers.
The firm invites all interested and qualified candidates to apply for employment opportunities.
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