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CIB - Business Control Manager Quantitative Research Markets - Associate

JP Morgan

Location: Greater London

Job Type: Full time

Posted


The Corporate & Investment Bank (CIB) is a global leader across investment banking, wholesale payments, markets and securities services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. We provide strategic advice, raise capital, manage risk and extend liquidity in markets around the world.

Control Management maintains a strong and consistent control environment through a joint accountability model that aligns managers with each function and region to mitigate operational risk. The team focuses on four areas: Control Design & Expertise, Risks & Controls Identification/Assessment, Issues & Control Deficiencies and Control Governance & Reporting.

Employer Description

JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as any mental health or physical disability needs.

The health and safety of our colleagues, candidates, clients and communities has been a top priority in light of the COVID-19 pandemic. JPMorgan Chase was awarded the “WELL Health-Safety Rating” for all of our 6,200 locations globally based on our operational policies, maintenance protocols, stakeholder engagement and emergency plans to address a post-COVID-19 environment.

As a part of our commitment to health and safety, we have implemented various COVID-related health and safety requirements for our workforce. Employees are expected to follow the Firm’s current COVID-19 or other infectious disease health and safety requirements, including local requirements. Requirements include sharing information including your vaccine card in the firm’s vaccine record tool, and may include mask wearing. Requirements may change in the future with the evolving public health landscape. JPMorgan Chase will consider accommodation requests as required by applicable law.

Equal Opportunity Employer/Disability/Veterans

Job Description

J.P. Morgan’s Corporate & Investment Bank

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

Business and Role Description

The Business Controls Management team (BCM) is a global team whose members are considered key partners within the Corporate and Investment Bank. Operating as the first line of defense, their primary responsibility is managing the non-financial risks within the Markets Business by maintaining a strong and consistent control environment. Business Control Managers (BCMs) are appointed for each Line of Business, Function and Region, creating a comprehensive coverage and joint accountability model with the business that promotes early operational risk identification and assessment. The BCM Team maintains a best in class supervisory culture through design, implementation and evaluation of controls. In partnership with Business Executives and functional groups (Operations, Product Control, Compliance, Technology, and Market Risk), the BCM team leads business control forums, ensuring the review of critical business operating risks. The BCM understands the business including the associated risks, controls, architecture and products in order to provide representation to internal and external parties, including global regulators.

The BCM – Quantitative Research Role covers a variety of Global Quantitative Research teams in Trading including: Equities, Rates, FIF, CEM, CPG, FX, Credit and SPG, Commodities, Central Solutions, India and China teams, which offers estimations solutions to the trading desk. Quantitative Research provides solutions including models and tools such as valuation, Electronic trading Execution, risk and sensitivities analysis, counterparty credit exposures, and Machine Learning/Artificial Intelligence. The successful candidate will lead the Business Controls Agenda within Global Markets Quantitative Research and should be interested in working in a fast-paced and dynamic environment, participating in key initiatives across a diverse set of issues that will have a direct impact on the organization. The role continues to evolve with a focus on the design governance, ownership, enhancement and execution of controls, covering the Business, Model Risk and Governance, Operations and Technology with sustainable solutions to mitigate operational risk.

Primary Responsibilities

Oversight and Governance

  • Review Issues and action plans from CORE (Controls and Operational Risk Evaluation) from creation through closure to validate effective execution resulting in proper mitigation of material risks
  • Own and ensure delivery of strategic control initiatives
  • Drive the remediation agenda where control gaps are identified
  • Provide oversight, review and implementation of key firm wide policy reviews on behalf of the Business
  • Provide oversight, review and execution of ad hoc/analytical requests/control deep dives/ projects/resiliency
  • Timely identification, escalation and recording of operational errors and performance of related risk analysis
  • Timely review of incidents with key stakeholders to agree on root cause and determination of remedial actions, inclusive of control deep dives and/or additional action plans
  • Lead thematic reviews to deliver a consistent and forward-looking control environment and/or address specific regulatory concerns
  • Review, challenge and substantiate control ratings and risk results
  • Lead CORE risk reviews and other targeted business reviews/initiatives

Front Office supervision

  • Conduct Model Scope Restriction violation reviews along with Model Risk Governance and Review Group (MRGR)
  • Facilitate the execution of various Supervisory controls, attestations and exception management
  • Lead development, review and implementation of Policies and Procedures on Front Office Supervision
  • Manage Consecutive Leave and Trainings
  • Lead development, review and implementation of Front Office Supervisory tools
  • Keen understanding of the business for proactive and innovational management efficiencies through MIS/reporting

Regulatory, Audits and Compliance Testing

  • Provide the business with assistance in relation to controls audits and testing as well as regulatory exams
  • Conduct Training and E-Communication Reviews
  • Responsible for timely execution and completion of any issues and actions plans raised
  • Responsible for ensuring appropriate controls are in place to support new business initiatives and/or initiatives driven by regulatory or policy change

Qualifications, Skills and Experience

  • Understanding of model development and review cycle and markets.
  • Understanding of the end to end product life cycle for technology development
  • Ability to work with senior stakeholders, guiding, challenging and influencing as necessary.
  • Organizational skills – ability to manage & prioritize various tasks with tight target dates
  • Strong interests in quantitative research models and analytical tools
  • Investigative mind-set, able to assess issues at a high-level and in more granular detail
  • Strong analytical, problem solving and process re-engineering skill
  • Previous experience in Controls, Model Governance or Business Management would be beneficial