JPMorgan Chase Corporate Risk - Credit Risk Middle Office – Associate in Brooklyn, New York
J.P. Morgan is a leading global financial services firm with assets of $2.4 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. Information about J.P. Morgan is available at http://www.jpmorganchase.com/ .
Credit Risk Middle Office (CRMO) supports the credit approval and decision making processes for Credit Risk Management (CRM). CRMO is actively involved in the analysis of credit data and risk metrics in addition to identifying trends and issues which may impact the bank’s ability to manage credit risk.
The purpose of Credit Risk Middle Office is to establish and maintain a common approach to controls and operational workflows across the risk management infrastructure in support of Corporate Investment Bank. Credit Risk Middle Office provides operational support for Credit Risk Management which includes the following functions:
Facility creating and maintenance including processing counterparty line up and amending as per instructions by Credit in accordance with Credit Risk Policy.
Support Credit Officers with annual credit due diligence and ensure proposed facilities are processed correctly.
Exceptions monitoring from an operational control/data quality perspective
Investigation and resolution of overlimits, unlinked, ungraded and Stress Credit Exposures.
Leverage multiple credit risk infrastructure applications and complex user tools for exposure analysis and other exception reporting
An Associate position in CRMO is expected to deliver on the following specific tasks and requirements:
Description of Responsibilities:
People and resource management (e.g. people development, pipeline/skills monitoring, training programs).
Maintain effective and standard operational procedures.
Provide operational support for CRM by performing various functions including line facilitation/maintenance, client data management, and over lines monitoring.
Investigate client margin disputes for PRMS clients
Provide appropriate Overrides
Intraday active trading client monitoring
Take on primary responsibility for limit breaches. Monitoring any NOP or other limit breaches on Risk Informer during the day
Liaise with CSRs (Client Service Reps)
Trade population reconciliations in partnership with the business
Responsible for confirming collateral requirement for intraday clients to the collateral team
Manage workflow for tasks, queries, and issues using various Credit owned systems (i.e. OTM, ARC, RBRM, Workflow, etc.)
Improve and maintain a controlled environment (e.g. necessary control activities along process lifecycle, team members fully understand risks and related controls)
Manage relationship with internal clients, anticipate needs, take feedback, run conference calls.
Help build business cases for the changes that would improve business processes and see them through to completion
Take responsibility for the quality of work submitted and ensure that the highest standards are maintained.
Identify/ manage risk and control breakdowns
Anticipate and understand issues, and escalate appropriately for timely resolution.
Manage the performance management cycle- Objective setting, development and career planning, performance appraisal and reward & recognition.
Ensure adherence to SLA’s, Internal metrics & firm wide policies.
Manage projects and conduct User Acceptance Testing for enhancements to current systems or migration to new system
BA or BS degree preferably in Finance / Business
Minimum of 3 years’ experience in financial industry or operations
Experience in CIB Markets Middle Office and operations a plus.
Excellent interpersonal skills. Should be able to communicate at all levels.
Behavioral skills, Leadership, Problem solving and time management
Strong planning, negotiation, analytical and process improvement skills
Good understanding of Client entity types specifically Hedge funds, Fund Administrators, Corporates & Financial Institutions
Excellent business writing and verbal English communication skills
Proficient in MS office package (Word, Excel, PowerPoint and outlook).
Strong control and quality management skills; accuracy and attention to detail is vital.
Assertive and self-confident, comfortable when interacting with senior management.
Excellent coaching skills.
Detail and Deadline orientation.
Well-developed negotiation, persuasion and influencing skills
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.