JPMorgan Chase Wealth Management, Client Onboarding Risk and Controls Officer; Associate/VP in Newark, Delaware
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 Management line of business. The Private Bank is the world’s premier service provider for ultra high net worth individuals. Our goal is to help these affluent individuals across the globe optimize their wealth after tax across generations. Wealth Management Operations provides end to end support for all aspects of the client experience, working with client service, fiduciary, product specialty groups, third party vendors and other internal groups
WM is establishing a market-leading function to help manage the regulatory risks involved in onboarding clients with special attention to meeting the regulatory Anti-Money Laundering (AML) and Know Your Client (KYC) requirements. Key priorities include developing processes and procedures and driving global consistency as they are implemented to meet new and enhanced standards, along with having the appropriate controls, monitoring, and reporting in place. To be successful, the candidate must have a proven track record of effective leadership relative to change management and process re-engineering. This is a great opportunity for the right individuals to work in a fast paced dynamic team and to help identify and establish best practices within JP Morgan and the industry.
It is anticipated that this role may require up to 10% occasional travel.
The Client Onboarding Risk and Controls Officer will be required to partner closely with key business and operations teams, Compliance, Internal Audit, respective Regulators, and senior management to ensure accurate and complete metrics and to build and implement an appropriate quality assurance, risk, and control infrastructure for the business. The primary focus will be to support business as usual risk mitigation and key initiatives to improving controls across the Client Onboarding space. The Client Onboarding Risk and Controls Officer will have strong analytical skills and communication skills (verbal and written). The candidate will need to work effectively in a team environment and must be able to adapt to a rapidly changing business and technological environment. They must be able to work on multiple tasks simultaneously and have strong organizational skills that enable them to prioritize their work accordingly.
Work closely with key business stakeholders, Regional COOs, Legal, Compliance, Business Management, Product & Platform and Technology on fulfilling responsibilities of the Client Onboarding Risk and Controls team.
Establish a quality assurance program for Client Onboarding to include methodology and sampling methods and ensure compliance with policy and regulatory requirements.
Ownership and proactive management of policies and procedures; Develop new or amend existing policies, guidelines, and desktop procedures with the Client Onboarding and Quality Control teams and drive global consistency as they are implemented to meet new and enhanced standards.
Identify gaps in policies and processes and liaise as necessary with other business units and stakeholders to escalate issues for resolution.
Ownership and proactive management of the various risks facing Client Onboarding.
Ownership of and proactive management of the Risk Controlled Self Assessment (RCSA) cycle; Identify risks related to the Client Onboarding model, perform control tests, and validate test strategies; Assess business risks and work with Regional Leads and teams to ensure adequate detective and preventative controls are in place to mitigate risk.
Ownership of and proactive management of Action Plans including opening of plans, analysis of solutions, plan proposal, oversight of plan tasks, validation, manage chain of approvals and closure.
Perform root cause analysis and work with appropriate groups to recommend controls and solutions when researching risk events, operational processes, and new regulatory initiatives.
Audit management and information gathering and analysis.
Establish quality metrics and results to identify recurring control issues and track trends. Proactively assess areas for process improvement and make/propose changes as needed.
Develop and manage systems for timely and effective communication across the line of business, including Sharepoint sites for Client Onboarding and other methods of communication.
Create and support various management reporting tools.
Act as a subject matter expert on AML/KYC matters.
Facilitate meetings, prepare documentation, and meeting minutes, as necessary.
Degree, qualification or certification Accounting, Finance, or Business
Strong, relevant experience within a financial services, operations, audit/compliance field preferred
Knowledge of AML/KYC requirements preferred
Strong knowledge of risk and control techniques/procedures
In-depth knowledge of risk management techniques from both a detection and mitigation perspective
Continuous improvement and change management mindset, questioning conventional ways of managing the business and driving change to improve processes
Ability to work effectively in a team environment and ability to adapt to a rapidly changing business and technological environment.
Must possess excellent analytical skills, in addition to strong interpersonal and communication skills.
Strong organizational and time management skills, including prioritization.
Strong sense of accountability and ownership over "quality" and best practices around the quality, risk and controls process.
Flexible and able to work in a fast-paced environment to effectively meet deadlines.
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.