CTC-Risk- Liquidity Risk Oversight-Associate-New York, NY
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, 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.
The Firm’s Corporate Treasury function and the Chief Investment Office (together referred to as “Treasury/CIO”) manage the Firm’s balance sheet. This includes activities such as:
Deploying the Firm’s excess liquidity
Managing the Firm’s funding and liabilities
Managing the Firm’s structural interest rate and foreign exchange risk
Managing the Firm’s liquidity risk and its regulatory compliance
CTC Risk Description
CTC Risk manages the risk of the retained portfolio generated from the Chief Investment Office, Global Treasury, and “other” Corporate businesses (Firm-wide Pension Plan, Insurance programs, and Mortgage Servicing Rights). The CTC Chief Risk Officer (CRO) reports to the Firm-wide CRO and is responsible for the end to end risk framework within the CTC LOBs; including, but not limited to, Market Risk, Credit Risk, Liquidity Risk, Reputation Risk, Country Risk, Principal Risk, and Model Risk.
CTC seeks to hire a risk professional to join its independent Liquidity Risk Oversight (LRO) function focusing on the CIO and Treasury line of business, with specific focus on intraday liquidity. The Liquidity Risk Oversight group partners with other internal risk groups, Corporate Treasury, LOB Treasury, Payments Operations and senior management to inform funding strategies through normal and stress market environments. LRO is also a primary resource for external regulators for discussions and analysis of liquidity risk.
The role provides a unique opportunity to understand and work with firmwide and legal entity risk measures as well as in-depth product analysis across a variety of sectors and encompasses report and metric development, product level stress assumption analysis, policy and framework design, scenario analysis and regulatory liquidity risk measure (eg LCR / NSFR) analysis and implementation.
The nature of the position also offers significant opportunities to create a broad personal network across J.P. Morgan and visibility to senior management.
- Provide independent oversight on adherence to the firmwide intraday liquidity risk framework
- Work with Treasury, Firmwide Business representatives, Cash Management / Payment Operations, and relevant risk groups to develop and maintain the risk governance framework including policy review, limit monitoring, standards and best practices
- Develop key risk analytic reports for senior management, business partners, risk committees and regulators
- Develop proposals for liquidity risk monitoring, metrics and stress tests.
- Provide independent review and detailed analysis of regulatory and internal stress scenarios and ad hoc requests, including analytical review of key market and behavioral assumptions
- Present and justify assumptions and findings to senior management governance forums
- Provide liquidity stress analysis and reporting around stressed capital impacts, LOB views, legal entity views, currency views and structural liquidity views
- Support the development and build-out of the liquidity risk management process and infrastructure
- Interact and partner with Treasury and corporate functions to understand, analyze and develop proposals regarding potential liquidity risk implications at a granular and holistic level
- Address regulatory requests regarding liquidity risk
2+ years experience in:
- Liquidity risk / treasury functions; and/or
- market risk or front office experience in investment banking products
- Knowledge / experience in wholesale banking products (deposits, commitments), secured funding, derivatives
- Strong understanding of basic finance and accounting principles, experience with balance sheet analysis
- Experience with operational process flows and operational controls, experience in cash management, payments, banking technology a plus
- Experienced with leveraging information and technology to improve business operations and processes
- Strong analytical and critical thinking skills, as well as a high level of self-initiative required, including an ability to balance and execute multiple projects at once and deliver results under tight time constraints
- Demonstrated effectiveness working independently and in multi-disciplinary teams
- Excellent oral and written communication skills
- Demonstrated ability to work effectively across different businesses and functional areas
Education: An undergraduate degree is required, science / mathematics / finance majors preferred.