J.P. Morgan Bank Luxembourg S.A – Overview:
J.P. Morgan Bank Luxembourg has operated in Luxembourg since 1973 and was an early pioneer of servicing UCITS since it’s inception in 1989. J.P. Morgan Bank Luxembourg is the largest fund administrator and custodian in Luxembourg, with approximately 20% of the market-share (Source: Lipper Fund Administration Database, January 2012).
J.P. Morgan Bank Luxembourg is gradually expanding its capabilities, Treasury Services products have been introduced in 2016 as additional offerings to clients.
J.P. Morgan – Corporate & Investment Bank / Treasury Services :
J.P. Morgan’s Treasury Services (TS) business is one of the world’s largest providers of cash management, trade, liquidity and escrow services that help resolve the working capital and efficiency challenges facing treasury professionals. TS is essential to clients and the firm, providing value-added solutions and services to clients, a source of liquidity for the firm and steady revenue and earnings growth for the business and its shareholders. More than 135,000 corporations, financial institutions, governments and municipalities in more than 180 countries and territories entrust their Treasury Services business to J.P. Morgan.
In recent years J.P. Morgan has been expanding the geographic coverage of our commercial banking capabilities. This expansion reflects the increasingly global nature of our clients and the need to service those clients cross-border needs. The execution of full service commercial banking capabilities in Luxembourg is a central part of this international expansion. Luxembourg Treasury Services business was rolled out in 2016, with additional set of Products delivered in 2017 and others planned for 2018 and 2019.
Operations - Department Description
The Banking Operations team in J.P. Morgan Bank Luxembourg is fully operational in the country with all the relevant functions to deliver the products and services, ensuring that it complies with local regulations. The selected individual will be responsible for the delivery of the BAU activities performed locally as well as supporting the end-to-end governance for services delivered into the legal entity from multiple offshore locations.
The business processes will form the basis of the day to day transaction monitoring and processing of the payments and clearing activity for the Legal Entity. This will comprise a number of activities across the suite of products supported by J.P. Morgan in Luxembourg. The team is responsible for the receipt, authentication and release of client transactional instructions subject to local regulations. Additional activities will include, but are not limited to, investigations, reconciliations, review of new account documentation, payment & credit queue management, monitoring of cash positions intra-day and end of day, sanctions screening, creation and maintenance of standard operating procedures, management of 3rd party charges raised against JPM, assist in client support and inquiries related to local market specifics.
The banking operations team maintains strong governance over delegated functions and ensure continued control is applied to local processes. This includes disciplined financial management and high quality metrics and risk reporting. In addition, the team will assume responsibility for the management of Service Level Agreements, Inter Affiliate Services, outsourcing model, key reconciliations and substantiation of the general ledger.
Summary of the Role
Leverage the set of “Common Disciplines” established within EMEA across governance, operations and controls practices
Ensure the operational environment supports the execution of the business strategy effectively and efficiently, meeting service delivery and financial goals
Maintain control of the environment in respect of JP Morgan policies and the local regulatory requirements
Support internal and external clients in strong partnership with Client Service
Continue to build out the operational processes in Luxembourg
Partner with the project team to train impacted operations teams on processes and systems implemented
Essential Functions & Responsibilities
Country and Location Operational Governance
Within the Banking Operations team, perform necessary local governance over operating processes
Work with all internal functional partners to support the business
Solid understanding of the regulatory environment and establishment and maintenance of regulatory relationships
Maintain strong local relationship with partner banks / clearing authorities / third party providers in partnership with Network and Business
Support executive management reporting
Control Operational Environment
Ensure operations compliance with corporate policies and local regulations
Keep up to date on risk awareness and escalation procedures
Ensure Standard Operating Procedures and Service Level Agreements are kept up-to-date
Provide accurate and adequate control execution and metrics monitoring to reduce operations breaks / errors, to identify and remediate deficiencies
Maintain, in partnership with risk functions, the control self-assessment, through identification of control weaknesses and ensure action plans are completed
Along with Banking Operations Manager, coordinate and provide oversight of both internal and external audits
Internal and external clients
About J.P. Morgan Corporate & Investment Bank
J.P. Morgan’s Corporate & Investment Bank (CIB) is a global leader across banking, markets and investor 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 provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
The hiring manager for this job opening would be willing to have a conversation about flexibility. This could range from ad hoc flexibility in a full time position, to a more formal Flexible Work Arrangement. The hiring manager is not committing to offering this, just highlighting an openness to having the conversation.
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.