J.P. Morgan’s Corporate & Investment Bank (CIB) is 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.
Clearing & Collateral Management (CCM) Business
J .P. Morgan’s CCM business unites J.P. Morgan’s clearing, collateral management and agency capabilities under one umbrella. Within Derivatives Clearing Operations, teams work together as a single service provider across the trade life cycle, helping clients clear Futures and Options, cleared and intermediated OTC Derivatives, and securities to a global customer base. Collateral Management provides tri-party repo agent services and derivative collateral management services primarily to banks/broker dealers and the asset management community.
Derivative Operations ability to develop and implement an outstanding control environment and superior operational risk capabilities is critical to our Firm’s success. We require a talented and highly motivated candidate to work with us in the Operations Risk & Control Group, responsible for review and continued enhancement of the business process controls across product areas – Global Currencies, Derivatives (Markets and Third Party), Commodities, Client Valuations, Brokerage, Principal Collateral, Agency Collateral (ACO), Derivatives Clearing and Futures & Options (DCO). The successful candidate will partner closely with the Operations Managers in Clearing and Collateral Management and interface with Compliance, Risk, Projects, Legal, Technology and Audit to execute against the below responsibilities.
The CCM Control Team coordinates monitors and drives the overall control environment and the control agenda within CCM Operations. This Bournemouth based role will primarily support Collateral Services within the CCM Controls Global team, which globally also supports Agency Collateral Operations (ACO) and Derivatives Clearing Operations (DCO – OTC & F&O) functions. There will be extensive opportunity to work across this group, but also across the wider the Derivatives Processing Center Control team, with which we are aligned under the Derivatives Operations business unit.
- Drive the control agenda specifically across Collateral Services
- Coordinate and execute Risk and Controls Self Assessments (RCSA) in partnership with the function owners in the Operating Units.
- Develop and monitor RCSA Issues, Action Plans and Risk Acceptances including Inherent and Residual Risk reviews with the LOB.
- Identify areas for control improvements.
- Partner with internal operational contacts to conduct operational reviews and deep dives on potential control gaps.
- Manage relationships with internal and external audit partners and supervise the co-ordination of any SSAE16/SOC 1 or other External Audit and any scheduled Compliance and internal Audit reviews, ensuring timely escalation of any concerns or potential issues to Senior Management.
- Manage the execution of the Business Continuity process
- Coordinate with internal colleagues to review, report and present analysis on errors, corrective measures and trends across the operation.
- Participate and execute on global cross Derivatives Operations Control initiatives.
- Engage Line management in control effectiveness assessments
- Assist in driving Quality Assurance testing agenda
- IB Rapid Exposure Drill (RED) Process - guidance and monitoring of operations compliance with IB wide procedures and standards.
- Daily Control Functions - ad hoc question and answer with Ops teams regarding daily policy compliance, regulatory questions, and other procedural control questions.
- Representation and preparation for CIB wide meetings - metrics, central control meetings and other sub-committee meetings.
- Ops Risk Initiatives, including deep dives and proactive risk mitigation analysis