JPMorgan Chase CIB F&BM North America Securities Prime Brokerage & Financing Product Controller, Vice President in Brooklyn, New York
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 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. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com at http://www.jpmorganchase.com/ .
The Firm’s Securities Prime Brokerage and Financing business (the “business”) is part of the Corporate and Investment Bank’s Prime Finance business. The business offers flexible financing to clients in either physical form or through synthetic products and with its ability to borrow and lend securities (stock loan) also allows clients to create short exposure. A further role of the financing business is to provide the wider Equities and Prime Finance businesses with both short term and long term secured funding.
The North America (NA) Securities Prime Brokerage and Financing Product Control Team (the “team”), within Prime Finance Finance & Business Management, is primarily responsible for the independent production, review and approval of the daily P&L ensuring the accuracy and completeness of business revenues. Other responsibilities include daily risk reporting, supporting the business on the wider financial aspects of their activities such as balance sheet and capital, advising on accounting, regulatory and booking issues, participation in the new product approval process and overall signoff of the business’s financial statements including regulatory returns. The team is also responsible for ensuring the continued appropriateness of the control environment.
The stock loan business provides secured financing to both clients and the wider trading businesses of the CIB. The products traded by the business include: margin loan, stock borrow loan, equity swaps, options and futures.
Successful candidate will be responsible for assisting/managing either the Cash Prime Brokerage or Stock Loan section of the team covering the following functions:
Performing next day P&L reconciliation and substantiation for the business, identifying and resolving issues resulting in breaks between the estimate and the actuals reported in Front Office P&L systems.
Supporting the month end financial close.
Ensuring processes and controls are in line with corporate minimum standards, creating a culture of continual challenge and improvement in the control environment & where possible eliminating manual processes.
Review and reporting of movements in the business’s balance sheet. Investigation and communication of business drivers underpinning significant financial movements for Senior Management, Corporate Controllers, Regulatory Reporting and other ad hoc finance groups.
Regulatory and External reporting for product specific disclosures. Ensuring correct accounting policy treatment is adhered to / adopted.
Working as a Finance contact on projects including working on the requirements, testing and implementation. Supporting the business on new business initiatives.
Potential management/team lead opportunity
Line of business Product Control experience essential
Understanding of Accounting concepts in order to interpret accounting policy
Excellent team player able to work with team members and front office
Very strong analytical skills and attention to detail
Control mindset and drive to continually improve controls, increase efficiency and challenge the status quo
Ability to face off with multiple stakeholders (e.g. Front Office, Financial Control, Legal Entity Control) and manage demands.
Ability to multi-task with flexible working style to balance numerous priorities and work through environment of constant change.
Appreciation of the existing control environment, infrastructure, systems and main flows
Management experience preferred
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.