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CIB - Business Control Markets - EMEA_Rates - VP

JP Morgan

Location: United Kingdom

Job Type: Full time


About J.P. Morgan Chase & Co.

J.P. Morgan is a leading global financial services firm with assets of $2.1 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

About J.P. Morgan’s Corporate & Investment Bank

J.P. Morgan’s Corporate & Investment Bank is a global leader across Banking, Markets and Securities Services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank (CIB) provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.

The Role

This role is within Markets Business Control Management (BCM) function, part of Finance & Business Management (F&BM) organisation, and working within a team covering the EMEA Rates, Fixed Income Financing and CPG Derivatives businesses in London. The BCM role is key for the business in the current environment. To meet the increasing demands, the role continues to evolve being focussed on governance, ownership, enhancement and execution of controls, covering the Business, Operations and Technology.

The Business Controls Management team (BCM) develops and implements the first line of defence governance and controls for J.P. Morgan’s Corporate and Investment Bank. The BCM has responsibilities in control design, implementation, evaluation and representation to internal and external parties including global regulators. The BCM needs to develop deep relationships with stakeholders across functional lines, understanding of the businesses, their risks, controls, architecture, and products. BCMs aim to maintain a strong and consistent control environment across the firm and implement best in class supervisory culture. With BCMs appointed for each Line of Business, Function and Region, there is a comprehensive coverage and joint accountability model with the business executive that promotes early operational risk identification and assessment, effective design and evaluation of controls with sustainable solutions to mitigate operational risk.

Business Control Managers:

  • Represent Front Office interests vis a vis control/regulatory initiatives
  • Execute and implement business controls priorities and strategy
  • Provide Front Office supervisory management and execution
  • Manage the risk and control governance framework and reporting

On a day to day basis the BCM will be responsible for:

Primary Responsibilities

The successful candidate will work within the Trading BCM team covering EMEA Rates, Fixed Income Financing and CPG Derivatives Business Controls agenda.

Oversight and Governance

In partnership with Business Executives and Core business support groups (Operations, Product Control, Compliance, Technology, Market Risk), drive business control forums, ensuring agenda and materials effectively cover critical business operating risk.

This includes being able to:

  • Contribute to the delivery of strategic control initiatives
  • Identify and remediate control gaps
  • Review and implement key firm wide policy on behalf of the Business
  • Execute ad hoc/analytical requests/control deep dives/ projects/resiliency
  • Review action plans from CORE (Operational risk system) ensuring material risks properly mitigated and validate execution and closure
  • Timely identification, escalation and recording of operational errors, performing risk analysis
  • Timely review of incidents with key stakeholders to agree on root causes and delivery of appropriate control deep dives and remedial actions
  • Develop, review and implement pre trade, and in certain cases, post trade controls and monitoring tools
  • Lead thematic reviews to deliver a consistent and improved control environment and/or address specific regulatory concerns
  • Assess and monitor critical operational and conduct risk
  • Review, challenge and substantiate control ratings and risk results

Front Office supervision

  • Facilitate the execution of various Supervisory controls, attestations and exception management
  • Lead development, review and implementation of Policies and Procedures on Front Office Supervision
  • Lead development, review and implementation of Front Office Supervisory tools
  • Understanding the business well enough to be able to proactively manage efficiencies through MIS/reporting and creativity

Regulatory, Audits and Compliance Testing

  • Provide the business with guidance in relation to controls audits and testing as well as assisting in business regulatory exams
  • Responsible for timely execution and completion of any issues and actions plans raised
  • Responsible for ensuring appropriate controls are in place to support regulatory implementations impacting the business

Operational Risk Management Framework (ORMF)

Key components include:

  • Timely identification, escalation and recording of operational errors
  • Timely review of incidents with key stakeholders to agree on root causes and delivery of appropriate remedial actions

The candidate should be interested in working in a fast-paced and dynamic environment, participating in key initiatives, as a trusted advisor to the business, and becoming involved in a diverse set of issues that will have a direct impact on the organization.

Qualifications, Skills and Experience

  • Understanding of Markets preferably Rates and Fixed Income products
  • Understanding of the end to end product life cycle for Rates and Fixed Income products
  • Understanding of EMEA regulations e.g. LIBOR Transition, MIFID 2, MAR, EU BMR
  • Familiar with trading and execution venues
  • Strong personality able to work with senior business management, guiding and challenging as appropriate
  • Highly motivated, energetic self-starter who takes ownership
  • Good organizational skills - manages & prioritizes multiple tasks across different time horizons within deadlines
  • A good understanding of controls and how to apply them to different processes and businesses
  • Investigative mind-set, able to see issues at both a high-level and in detail, and understand applicability across the business
  • Strong analytical, problem solving & process re-engineering skills
  • Excellent Excel, Word, PowerPoint skills
  • Exceptional verbal and written communication skills
  • Good judgment, maturity and poise to enable interaction/influencing of senior management
  • Strong team player with excellent partnering and influencing skill
  • Previous experience in Controls or Business Management would be beneficial