JPMorgan Chase CIB Controls – CIB Risk Assessment – Vice President in Brooklyn, New York
The Annual AML/OFAC Risk Assessment Program addresses our need for a complete assessment of the Bank’s BSA/AML methodology for identifying and quantifying the level of BSA/AML risk and the adequacy of controls. The program includes obligations to the Office of the Comptroller of the Currency (OCC) the Federal Reserve Board (FRB) and other legal entities both domestic and international who regulate our businesses. The cornerstone of a strong Anti-Money Laundering (AML) and OFAC Sanctions Program is the adoption and implementation of internal controls. This includes comprehensive governance, Know Your Customer policies/standards/procedures, Screening Transaction Monitoring, Annual AML/OFAC Sanctions Risk Assessment, and New/Expanded Business Approvals (NBIA) for all customers, and particularly those that present a higher-risk for money laundering, terrorist financing or other financial crimes. The requirement that a financial institution comply with these components of BSA/AML regulations, and the risks they present, is basic and fundamental to the development and implementation of an effective AML /OFAC Sanctions compliance program.
The main role of the CIB Annual Risk Assessment Group is to:
• To align with the firm-wide regulatory program and tactically manage and execute the AML and OFAC Risk Assessment program to ensure CIB and the sub LOBs can accurately assess and attest to the levels of AML and OFAC risk and controls. This includes:
• Defining the CIB tactical execution plan and associated milestones (both survey and data related)
• Establishing CIB Senior Executive agreement & engagement to proposed program and approach
• Ensuring the overall scope, definitions and other key components of the firm-wide program are applicable and appropriate to the CIB LOBs
• Ensuring the Program is impactful from a business perspective and aligns with other core business strategies and direction e.g. Risk Tolerance Statements, RCSA, full and total resonation with how our businesses are managed and run etc.
• Ensure CIB and each sub LOB and required Countries have fully completed thematic risk assessment reports that accurately summarises the current levels of AML and OFAC risk and controls.
• Migrate the Program to a sustainable BAU environment
The Annual AML/OFAC Risk Assessment Project Analyst/Associate provides project support and analytical skills, structure and AML/OFAC Sanctions experience across the Risk Assessment Program. They will manage key analytical components of the Program within the governance and project management process as required and help maintain: a robust and auditable plan, survey reconciliation and tracking, escalation and resolution process to ensure the successful and timely execution of Program deliverables. They will adhere to a robust governance and reporting structure throughout the lifetime of the Program and support the Global Corporate Program in relation to meeting our regulatory obligations as a firm. The incumbent is responsible for partnering with CIB and LOB Business Teams, GFCC, Regional and Country Officers, CAO organization, Technology and Corporate/CIB CO PMOs to ensure the necessary focus in delivering against the Program milestones. This mainly involves the supporting activities related to the CIB Global Program governance, timeline and deliverables management, communications on progress to program, phase end checkpoint coordination and reporting.
• Meet various objectives and deliverables of the Annual Risk Assessment long term strategy and goals.
• Adhere to a robust auditable governance process and artefacts to ensure accurate and timely delivery of all Program obligations for CIB. This will include updates to SharePoint, Shared drive libraries and maintenance
• Contribute to the provision of required project reporting and analysis for CIB CAO Management and the CIB Risk Assessment Internal PMO.
• Play an active role in the rating change control process involving tracking, reconciliation and submission of change controls and rationales to Corporate
• Prepare analysis on quantitative data to complete risk profiles for each Risk Assessment unit
• Help maintain a process and documentation to ensure strong controls over the identification, communication, escalation and resolution of key Risks and Issues throughout the life the program.
• Support elements of the plan, tracking progress and supporting the businesses and regions in their local level reporting and management for country and Legal entity reports.
• Participate in UAT for various survey and reporting tools, and document findings
A proven self-starter with demonstrable analytical traits to make effective decisions around the Annual Risk Assessment program.
A very good level of understanding and experience of Proven Project Management roles culminating in the successful and timely implementation of complex projects.
Excellent communication, influencing and negotiation skills with the ability to lead, establish and communicate at all levels (including LOB Heads)
Proven ability to operate effectively in a matrix organization
Accountability for ensuring activities and deliverables are reviewed for accuracy and completion, information is validated, and tasks driven to timely completion
Strong understanding of CIB Business and Product offering
Well organized, detail oriented, process driven and aligned, ability to multitask
Strong time management skills
A willingness to tackle problems and exert influence to achieve objectives
Work / Industry Experience:
At least 5-7 years’ experience in financial services, preferably in Product/Business environment with strong Project management capabilities.
AML/Compliance related /KYC/Due Diligence experience and /or experience working in large regulatory projects
Ability to identify problems and propose solution
Ability to develop and manage project plans including timelines, milestones, and issues
Project management and execution: must organize quickly and execute the agenda to meet short-term and longer-term deliverables
Passion for the agenda: strong desire to make a quick impact to the organization through a successful project
Partnership and relationship management: must have ability to develop and foster strong partnerships with numerous teams and senior key stakeholders within own project and across projects within program
Strong communication skills - both verbal and written. Ability to present concise, direct and timely communications to senior executives, management and key partners; strong presentation skills are a must
Detail oriented and strong organizational skills: Takes ownership and is accountable for area of responsibility, ability to independently make decisions for the Program
Ability to be flexible and follow tight deadlines; provide clear and concise solutions constrained by tight deadlines
Advanced knowledge of Microsoft Office, i.e., Excel, Word, PowerPoint, Visio, Project, etc.
Proactive approach to problem solving, taking ownership of issues and having the determination to follow tasks/issues through
Absorb and present complex tactical and strategic ideas quickly and accurately
Ability to shift perspective from high level 'big picture' to low-level detail
Open attitude towards sharing ideas and knowledge
Excellent prioritization and time management
Work independently as well as part of a team
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.