JPMorgan Chase Wealth Management - Global Wealth Management - Credit Cost - Associate in New York, New York
Wealth Management (GWM) is comprised of the US and International Private Bank and JPMorgan Securities businesses. J.P. Morgan Global Wealth Management provides integrated wealth management services for ultra high net worth and high net worth families and individuals worldwide, overseeing more than $1 trillion of client balances across credit, deposit, investment management, capital market and trust products.
Associate - Credit Cost will be a key member of the Credit CFO team providing end to end ownership for credit costs for GWM Credit Portfolio. Candidate will report into to the Credit CFO, who oversees finance for client businesses with $135bn in credit. This role will provide exposure to the credit risk leadership team; wholesale credit analytics solutions group (WCAS), legal entity controllers (LEC) and financial information reporting solutions (FIRS).
Own calculation and finalization of monthly US GAAP credit reserves
Report and articulate monthly and quarterly credit costs to wealth management P&A, WCAS, LEC and FIRS
Lead monthly and quarterly review of credit costs with wealth management chief risk officer and credit risk leadership team
Prepare monthly credit costs outlooks, annual and multi-year plan
Track and monitor risks and opportunities to the outlook
Organize monthly finance review and analysis of IFRS 9 credit reserves
Partner in CECL rollout for wealth management loan portfolio
Partner with other team members to improve key processes and quality control
Perform ad-hoc analysis of other tactical and strategic issues
Ability to take ownership and work independently as well as on a team
Interact and communicate clearly and confidently with all levels of management
Strong analytical and financial skills, with ability to synthesize and interpret data
Sense of urgency; this person recognizes the importance of not only completing a task, but with the understanding that many of the tasks/requests are time sensitive
Utilize judgment and discretion in working with highly confidential information
Work Experience and Education:
Minimum 5 years of experience, primarily in financial services
Experience working in credit
Bachelor’s degree required (business or economics-related major preferred, or equivalent work experience in accounting/finance and/or a financial services firm)
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.