Network Management is a central function within the Corporate & Investment Bank Digital & Platform Services organization responsible for managing the J.P. Morgan’s Lines of Business relationships with their network of local market participants and market infrastructures. These critical providers include Financial Market Infrastructures (“FMIs”) (payment systems and check clearing systems) and Agent Banks (cash correspondents, partners, and clearing banks).
With over 200 resources, the Network Management team is primarily located in London, Bournemouth, New York, Tampa, Hong Kong, Singapore and Mumbai to provide coverage of markets and selected clients. While the group resides within the CIB, it supports all J.P. Morgan’s lines of business including Corporate & Investment Bank (Global Markets; Securities Services; Wholesale Payments), Asset & Wealth Management, Commercial Bank and Consumer & Community Banking.
You will be accountable for the continuous regulatory and operational performance oversight of our Agent Bank providers. This role will require end to end partnership and liaison with key stakeholders in the Business, Operations, Compliance, Risk, Legal and the network of agent banks and FMIs. This role will report directly into the regional Network Management head.
Job responsibilities:
Accountable for managing all aspects of Agent Cash Bank relationships in selected markets, this will include:
- Ensuring deep understanding of and compliance with Legal and Regulatory requirements for all jurisdictions required by the Business and their clients
- Ensuring deep working knowledge of cash payments products and back office processes related to Cash Management and Treasury
- Accountable for completing the Due Diligence and Final Assessment Report activities for assigned markets and Agent Banks within regulatory, policy and procedural deadlines
- Identifying risks and exposures impacting JPMorgan’s Lines of Business, stakeholders, and other key cross-functional partners and working across partners and stakeholders to identify solutions and mitigants
- Maintaining strong relationships with the lines of business and other partners, being able to articulate the key business strategies and requirements.
- Maintaining deep understanding of the markets assigned and strong ability to apply knowledge to support the Business and client needs and strategies – identifying solutions and delivering required outcomes
- Providing thought leadership around market and regulatory change, having a deep understanding of how this will impact the Businesses and clients
- Driving advocacy in the markets, identified via the due diligence process, and business and client needs.
- Accountable for the delivery of agent bank change in assigned markets, identified via the due diligence process, business and client needs.
- Ensuring market information is communicated swiftly to the Business.
- Responding promptly and effectively to any market specific enquiries and escalations received from Businesses, clients and Network Management colleagues.
- Accountable for achieving fee reductions identified via the pricing strategy
- Support audit requirements as required
- Represent Network Management in new business initiatives (NBIs), to evaluate and identify risks associated with new / prospective engagements, products or businesses.
- Participate in and contribute to committees and governance forums as required
- Contribute to special projects and initiatives as required and potential to represent J.P. Morgan at Industry level
- Accountable for management of crisis events impacting the covered markets, communicating and coordinating activities across stakeholders and partners
Required qualifications, capabilities and skills:
- Previous experience in the payments industry with strong subject matter expertise and understanding of payments products and systems i.e. types and channels and the regulatory environment preferred
- Previous experience working with agent banks, Financial Market Infrastructures or non-bank financial institutions preferred and strong experience in Third Party Oversight (TPO), risk, control and regulatory management
- Previous Network Management experience a plus.
- Strong relationship management, influencing, and negotiation skills.
- Strong communication, interpersonal, and project management skills.
- Ability to “join the dots” and evidence good judgment under pressure and ability to identify and negotiate innovative solutions to challenges and issues
- Financial services background, relevant experience in the industry.
- Attention to detail combined with strong analytical skills, particularly with regard to assessing risk.
- Strong team player, able to multi-task and work under pressure in a dynamic business environment.