JPMorgan Chase Wealth Management, CMO Collateral Risk Analyst in Brooklyn, New York
About JP Morgan Asset & Wealth Management
J.P. Morgan Asset & Wealth Management, with client assets of $2.4 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.
Wealth Management Operations supports the JPMorgan Private Bank in JP Morgan’s Asset & Wealth Management line of business. The Private Bank is the world’s premier service provider for ultra and high net worth individuals. Our goal is to help these affluent individuals across the globe optimize their wealth, after taxes and across generations. WM Operations provides end-to-end support for all aspects of the client experience, working closely with capital advisory, operations, risk and finance.
Credit Risk Management (CRM) reports into Wealth Management (WM) Credit Operations group. The team monitors all JPMorgan GWM exposures (loans, OTC derivatives, and brokerage margin loans) secured by financial (equities, fixed income, etc) and other asset types. They manage intraday transactions and exceptions related to secured credit facilities and pledged collateral. The team is also involved in several development projects, manages various reporting and analytical functions, actively partners with program and technology resources to improve platforms/functionality and represents the collateral function to various risk and control forums. The functions performed by this team are critical to protecting the bank from potential credit losses.
Individual will be expected to develop a deep understanding of the Credit business and all collateral functions, applicable regulations and policies in order to provide oversight and guidance to this group on a daily basis. The Collateral Risk analyst will work very closely with Credit Operations leadership, Risk, Capital Advisory, Bankers, Client Service, Centralized Lending, Underwriting as well as technology, compliance and legal personnel to manage collateral and secured or unsecured credit exposure, execute client requests, identify and escalate credit issues, and manage risk.
Team responsibilities across the Domestic, Latin America and Multinational portfolios include:
Review and understand new agreement terms and documentation.
Set-up agreement terms regarding collateral in credit systems for ongoing compliance monitoring. If credit systems cannot support the monitoring of the arrangement, set-up the agreement for monitoring offline.
Monitor collateral daily and identify non-compliant scenarios. Confirm the accuracy and escalate to Credit and Bankers for resolution plan and date determination.
Manage requests for intraday transactions and approve if collateral position and/or covenant compliance is adequate. Intraday transactions are inclusive of cash and security movement within pledged accounts as well as loan and letter of credit draw downs.
Manage amendments to original agreement terms, including lending value and covenant requirement changes and ensure they are accurately reflected in credit systems for ongoing compliance monitoring.
Manage third party pledge scenarios when the client’s exposure secured by assets held internally is external to JPM AND when the client’s exposure secured by assets held externally is internal to JPM. Regularly update credit system valuations regarding the external assets.
Participate in credit system defect identification, UAT testing, and ongoing business requirement discussions.
Respond to Hotline enquiries.
Manage initiatives to resolve control gaps and enhance current processes for further efficiency and effectiveness as needed.
Provide analysis concerning portfolio as needed.
Skills and Experience Required:
Preference for operational management experience
Outstanding leadership, team orientation, drive, initiative and strong work ethic
Strong project management skills – experience managing process reengineering initiatives
High-level of proficiency in organizing, prioritizing, and managing issues
Strong independent judgment and awareness of appropriate escalation
Strong verbal and written communication
Attention to detail, strong analytic skills
Must be self-motivated and able to work independently
Strong excel skills
Knowledge of bank systems and loan/credit operations a plus
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.