Operational Risk Lead - VP - Chase UK

JP Morgan

Location: Greater London

Job Type: Full time

Posted

Perfection not required
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About J.P. Morgan

JPMorgan Chase & Co. is a leading global financial services firm with assets of more than $2.7 trillion, over 240,000 employees and operations in over 60 countries. It operates across four business segments including Asset & Wealth Management, Corporate and Investment Banking, Commercial Banking and Consumer and Community Banking.

JPMorgan Chase & Co. is expanding its consumer business by launching a new digital bank in the UK. Using the Chase brand, the bank will provide products and features tailored to meet the needs of customers in the U.K., delivered via an innovative mobile app.

About Operational Risk

We are a second line of defense function that, together with Compliance colleagues, maintain oversight of the firm’s operational risk management activities through independent assessment and challenge of the International Consumer (Chase UK) business risk management practices.

Our organization is focused on cultivating a strong culture that embraces a sense of personal accountability for developing the highest corporate standards in governance and controls across the firm. Business priorities are built around the need to strengthen and guard the firm from the many risks we face, financial rigor, risk discipline, fostering a transparent culture and doing the right thing in every situation. We are equally focused on nurturing talent, respecting the diverse experiences that our team of professionals brings and embracing an inclusive environment.

Responsibilities

The successful candidate will join a growing and dynamic team of risk professionals from a diverse range of backgrounds and experience who collectively support risk-balanced business growth and ensure that the Firm’s Operational Risk Management Framework is implemented and functions effectively within the various areas of International Consumer.

You will be responsible for the independent oversight of operational risk management practices in selected business areas, predominantly Payments, Cards and Cash & Cards Operations. This will include interactions with Business (e.g., Product Development, Control Management), Compliance, Legal and other Risk colleagues.

  • Lead the Operational Risk coverage of selected products, building positive business stakeholder engagement and promoting a strong operational risk management culture
  • Represent Operational Risk in business working groups, assessing the risk impact of future implementations and influencing risk-based decision making ahead of program conclusion
  • Independently assess change management processes and new business initiatives to identify risks, challenge the proposed control environment, and recommend approval (or not) of the initiative
  • Conduct deep dive reviews of areas of emerging risk or potential control gaps to identify issues for the business to remediate; document and share analysis with business stakeholders
  • Engage with global horizontal risk programs (e.g., Business Resiliency, Third-Party Outsourcing, Data Management) to ensure that business practices remain in line with firmwide changes
  • Perform the Independent Second Line Risk Assessment for the operational risks in International Consumer (business units, regional and legal entity levels) using both qualitative and quantitative means
  • Plan and execute targeted monitoring activities leveraging data analytics and business metrics to identify negative trends and potential control gaps
  • Design and oversee the execution of combined Operational Risk and Compliance testing activities
  • Review operational risk events that resulted in financial losses to assess and challenge root cause analysis, recurrent themes and remediation, and drive value-added changes
  • Prepare materials for regional control committees / forums to promote business awareness of the outcomes of Operational Risk activities
  • Support Operational Risk engagement in regulatory deliverables (e.g., OCC, FCA, PRA), including targeted exams
  • Promote cross line of business consistency and adoption of best practices collaborating with other Operational Risk colleagues, as well as control functions such as Investment Risk, Legal, Compliance

Preferred qualifications

  • Extensive knowledge of the UK retail banking sector, preferably in Risk, Compliance, Audit or Control Management functions
  • Digital Banking experience is a plus, including FPS, BACS and cards schemes
  • Strong understanding of payments services regulation
  • Self-motivated, driven and inquisitive
  • Excellent interpersonal and influencing skills with the ability to establish credibility and strong partnerships with business stakeholders
  • Excellent written and verbal communication and presentation skills
  • Strong analytical skills and proven ability to identify potential process and control issues
  • Ability to multi-task, prioritize and thrive in a fast-paced and evolving environment
  • Passionate and capable of learning in a changing environment while delivering results
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