J.P. Morgan is a global leader in asset and wealth management services. The Asset Management line of business serves institutional, ultra high net worth, high net worth and retail clients through its Global Investment Management and Global Wealth Management businesses. With client assets of $2.4 trillion and assets under management of $1.7 trillion, we are one of the largest asset and wealth managers in the world. (Assets as of Dec. 31, 2015) Team Overview
Throughout its long and distinguished history, Asset Management has been steadfastly committed to putting its clients' interests first. This fiduciary responsibility defines our relationship with clients and informs every decision we make on their behalf. The Asset Management business is also guided by its strategic objective and business priorities.
Global Investment Management
J.P. Morgan Asset Management (Investment Management) is a leading investment manager of choice for institutions, financial intermediaries and individual investors, worldwide. With a heritage of more than two centuries, a broad range of core and alternative strategies, and investment professionals operating in every major world market, we offer investment experience and insight that few other firms can match.
• Clear focus on managing client assets and delivering strong risk-adjusted returns
• More than 1,300 investment professionals providing strategies spanning the full spectrum of asset classes, including equity, fixed income, cash liquidity, currency, real estate, hedge funds and private equity
• Leadership positions in the U.S., U.K., Continental Europe, Asia, and Japan
J.P. Morgan Asset Management is the marketing name for the investment management businesses of JPMorgan Chase & Co. and its affiliates worldwide.
The Strategy and Analytics (S&A) function is responsible for advising clients and prospects on investment themes, regulatory and market trends as they relate to insurance companies. Working together with the other members of the team, establish strong cross-organizational relationships, communication processes and business practices that leverage organizational resources, investment capabilities and content of JPMAM. Work with the product teams, GIS strategists and quantitative modeling to develop content for the insurance market related to a range of issues including but not limited to strategic asset allocation, asset liability management, economic and risk based capital and alternative investments.
Purpose of position:
Within Global Insurance Solutions (GIS), provide a thorough understanding of the investment needs of insurance companies. The candidate should have strong analytical skills developed through relevant studies at university, together with proven quantitative abilities, and a basic knowledge of finance / investment. The individual must have an understanding of the regulatory, accounting, tax and other issues facing insurance companies as they manage their general account portfolios in varying market environments.
The S&A team provide an important role in developing new client relationships and supporting existing business. The successful candidate will enjoy developing investment solutions using quantitative techniques and creating client presentations to communicate the proposed solution in a clear and understandable manner.
A unique aspect of the position is the hands-on nature of the projects within the S&A team. The team uses a Matlab based modeling environment for a range of quantitative projects that will often utilize portfolio optimization techniques for solving large scale problems. For example, identifying an optimal mix of individual fixed income securities that minimize the Solvency II market risk capital requirements for a target level of return, and also satisfy close asset liability cashflow matching constraints. The S&A team has a number of strategists that can provide assistance with model development under the supervision and direction of more experienced team members who act as project managers. However, at all levels of seniority within the team, it is expected that all staff will be able to develop bespoke client models in Matlab, and can contribute to the development of new tools and capabilities. The successful candidate will therefore have a strong quantitative background with relevant practical experience in model development.
For the benefit of external clients and internal staff, prepare formal content explaining the key drivers and emerging issues within the insurance industry. As markets and circumstances change, develop and explain portfolio strategies. Actively support European client advisers with strategic content including thought leadership papers and marketing material. Main deliverables of the role include:
• Support development of insurance content including quarterly papers and webcasts to facilitate understanding of insurance issues both within the company and with the company's clients, covering:
o asset allocation for asset liability management (ALM)
o regulation (Solvency II, SST, etc), accounting and tax issues
o rating agency pronouncements
o risk and return implications of market movements and events
o evolving investment strategies & product structuring solutions
• Portfolio and product research including preparation of strategic asset allocations and structured solutions for clients:
o Multi-asset and single asset product strategies (yield, diversification, etc.)
o Work closely with product teams to understand, structure and deliver strategic ideas to insurance clients/prospects
o Construction of custom benchmarks based upon the strategy and the client's investment restrictions
o Coordinate with Client Advisors on presentation and both ex-ante and ex-post performance
• Qualitative analysis / "storyboarding" for client presentations / pitch-books that utilize asset and risk factor modeling to ensure smooth communications with clients on model portfolio recommendations.
• Provide GIS partners content including Request for Proposals (RFP) highlighting Strategy & Analytics platform and capabilities and "road shows" material / pitch-books with European client advisors to showcase Strategy & Analytics platform and capabilities.
Major Functions of the Position:
• Provide CA's a complete understanding of insurance company:
o corporate structures and liability characteristics
o operating principles and constraints, e.g. local gaap, IFRS, realised gains constraints, etc.
o investment and risk guidelines
o insurance regulations and rating agency requirements
• Advise insurance clients on portfolio rebalancing via single or multi-asset class recommendations to create efficient risk / return portfolios relative to financial objectives (e.g. book yield, risk limits).
o Coordinate with product teams / asset class desks on recent research and product developments
o Coordinate with other team members to prepare investment analysis
o Provide explanations of risk and return of various portfolio exposures (gross and net of liabilities) within the context of the prevailing capital market environment
o Work closely with client advisors, product teams, and marketing to understand, enhance, and deliver strategic ideas to our insurance clients
o Ongoing monitoring of each client portfolio and appropriate analysis on rebalancing strategies
• Coordinate and assist other global strategists
o Coordinate with Institutional Strategy to exchange ideas on strategy and ensure consistency of the company's brand and message
o Assist GIS strategists around the globe
creation and explanation of investment content and portfolio strategy
the coordination of activities with other GIS strategists around the globe
• Work with Analytics to develop "storyboard" for client analysis utilizing asset and risk factor modelling to ensure smooth communications with clients on model portfolio recommendations
• Work with broader JP Morgan personnel to leverage internal resources and subject matter specialists in risk, strategy, technology, accounting, tax, and other areas to develop high value, high impact solutions
Pre-requisite includes extensive insurance experience and must have an understanding of the regulatory, accounting, tax and other issues facing insurance companies. The candidate must have an understanding of risk based capital solutions within insurance as well as first class communication, presentational and team building skills. Additionally:
• Business level English language skills (both verbal and written) – the candidate must be comfortable presenting to clients.
• Working knowledge of investment, corporate finance and capital markets theory, financial management and economics, statistics and/or econometric theory.
• Experience in capital markets, asset management, risk management, actuarial, mathematical, and/or statistical methods and theories.
• Strong quantitative skillset with proven experience of model development in a relevant programming language (e.g. Matlab, R, C++, C#).
• Excellent communication skills to explain complex concepts to management.
• Subject matter expertise and empirical model building with key insurance modeling platforms
PLEASE NOTE: ALL INTERNAL MOVES WILL NORMALLY TAKE PLACE ON THE SAME GRADE AND SAME SALARY. SALARIES ARE REVIEWED ANUALLY IN FEBRUARY. EXCEPTIONS TO THE RULE REGARDING TRANSFER ON CURRENT SALARY MAY INCLUDE A MOVE BETWEEN GEOGRAPHIC LOCATIONS.