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CIB – Investor Services – Trust & Fiduciary - UK Investment Restrictions Manager – Associate / VP – London or Bournemouth

Job Description

Custody and Fund Services, a division of Investor Services, is a global industry leader with over $20 trillion of assets under custody.  J.P. Morgan provides innovative custody, fund accounting and administration and securities services to the world's largest institutional investors, alternative asset managers and debt and equity issuers.  J.P. Morgan leverages its scale and capabilities in more than 90 markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services. For more information, please visit
J.P. Morgan’s Trust & Fiduciary business is a market leader in the provision of trustee and depositary services, servicing in excess of $1.8 trillion of assets for 150 clients across 13 European locations.  The Trust & Fiduciary teams oversee various activities including investment managers to review compliance with regulations and fund Prospectuses, identifying and resolving any breaches to help ensure the underlying investor interests are protected, across a range of fund structures, including funds subject to the Alternative Investment Fund Managers Directive and UCITS Regulation.
This Associate / VP level role will be responsible for supporting a number of UK client groups, working closely with the Trustee Manager teams to ensure JPMorgan’s fiduciary oversight obligations are discharged in accordance with UK and other fund regulation. This includes oversight of investment breaches and error resolution, fund Prospectus and other investment documentation review, continuous risk assessment including production of MIS and supporting ongoing site visits as required.  Other key responsibilities include ongoing day to day oversight of the Compliance Reporting Service utility (CRS), attending periodic service review meetings and managing SLA deliverables.
Key responsibilities
  • Acting in SME capacity on investment compliance matters, involving detailed assessment of fund structures and underlying assets as required, including those held outside of the custody network  
  • Ongoing assessment of derivative risk exposure levels and  collateral management models across client groups, plus prime brokers as applicable
  • Ongoing assessment/due diligence of Transfer Agent entities in respect of fund of fund holdings/hedge fund holdings which are maintained in JPMorgan’s core custody system
  • Review and interpretation of client investor documentation to ensure rules are set up accurately in the compliance monitoring system (TRAC), plus providing timely support for queries in respect of interpretation of Prospectuses and updates to CRS, working closely with the Trustee teams as required
  • Support implementation of fund changes (launches/mergers/investment limit changes) in TRAC, including initiation of changes to fund investment limit rules by instruction to the CRS Team, validation of coding interpretation and subsequent QA review/sign off of rule output
  • Managing the relationship with the CRS  Delivery Team including regular service review meetings, monitoring and measuring of  KPIs to ensure service levels remain appropriate , plus oversight of potential investment restriction breaches reported by CRS and associated tracking through to timely resolution
  • Participation in oversight review visits at client offices, acting as a subject matter expert in respect of investment compliance controls, including review of derivative risk management processes and controls.
  • Provide input into T&F’s Senior Management Risk Reporting, including responsibility for completion of allocated risk measures


  • Proven practical experience of the Investment Management industry with particular focus on regulated mutual fund vehicles (including UCITS funds, Hedge Funds, Private Equity Funds)
  • Knowledge of investment portfolios and various instrument types including understanding of complex assets (structured notes, embedded derivatives, hedge funds, private equity structures OTC derivatives, Repos, loans, direct property)
  • Understanding of derivative risk, in particular, the impact on fund leverage.  Knowledge of risk management controls and respective limitations including global exposure calculation methods and value at risk models.
  • Knowledge of investment compliance monitoring systems, including respective strengths and weaknesses plus knowledge of fund accounting feeds alongside other portfolio/position inputs supporting effective investment compliance monitoring
  • Knowledge of prime broker operating models including understanding of indebtedness and re-hypothecation of assets,  
  • Strong understanding of investment limit breaches including assessment of preventative controls and fund/investor impacts, plus associated remediation
  • Knowledge of the custody offering across full range of asset classes and markets to include understanding of local market characteristics when assessing eligibility
  • Knowledge of UK fund regulations and awareness of the broader European mutual fund agenda including AIFMD and UCITS V impact


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. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. 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.




The hiring manager for this job opening would be willing to have a conversation about flexibility.  This could range from ad hoc flexibility in a full time position, to a more formal Flexible Work Arrangement.  The hiring manager is not committing to offering this, just highlighting an openness to having the conversation. 

Req #: 160006440
Location: London, ENG GB
Job Category: Account Servicing
Employment Type: Full Time
Potential Referral Amount: Pound Sterling (GBP)

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