Corporate - Valuation Control Group (VCG) - CIB NAMR Credit Trading - Associate
Req #: 180016853
Job Category: Accounting/Finance/Audit/Risk
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 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.
Valuation Control Group (VCG) is an independent group within
Finance whose primary responsibility is to ensure that the firm’s risk
portfolios are fairly valued. The group
sets independent pricing and reserve policies.
VCG highlights concentrations in risk or uncertainties in parameter
inputs and works with the trading desk, quantitative groups, Market Risk, MGG
and the P&L controllers to fully understand the risk. In addition, VCG is
responsible for, or involved in, high level risk / P&L analysis, approval
of new products, and model releases.
VCG is organized along business lines including, IB Risk, Credit,
Rates, Equities, Emerging Markets, Securitized Products, Principal
Investments FX & Commodities. Clients of the group include senior
management, business heads, regulators, and both internal and external
audit. The group also works closely with
the Trading desk, CFOs, Market Risk, Middle Office, Quantitative Research (QR)
and MGG to ensure a complete understanding of business issues and the accurate
execution of valuation policy.
The candidate will be a member of the Valuation Control
Group covering Global Credit Trading business. The role will allow direct interaction
with the trading desk, Market Risk, MGG and P&L controllers on a regular
basis. Products covered include both vanilla (e.g. single name CDS, Index CDS,
corporate bond) and exotic credit products (e.g. non-standard transactions). The
role is based in New York.
- Owning the end-to-end month end process – performance of
price testing and valuation adjustment calculations, analyzing and challenging
the results, dealing with Front Office (FO) challenges, communicating the
results to Controllers, FO, VCG Management
- In-depth understanding of Valuation Policies, Standards and
- Dealing with ad-hoc requests related price testing and
- Owning the relationship between the trading desk and
- Training and guiding the on-shore and off-shore team.
Liaising with other VCG line of business representatives globally
- Building new / improving existing excel-based tools; working
with Tech on developing automated solutions
- Collaborating with other counterparts (FO, MR, QR, Finance)
on new / large / complex transactions; providing advice on valuation for
non-standard risks / trades
- Review of new model releases / approximately loaded
transactions and their impact on valuation
- Analysis of Markets, P&L and Risk on a daily basis with
understanding of the factors that drive valuation and risk; discussing recent
market events and valuation issues with the wider VCG group
- Working with Trading, Middle Office, Finance, QR and Model
Review to continually monitor the various valuation risks of the business and
implement appropriate adjustments
- Other regulatory driven and strategic projects specific to
Credit as well as across the bank
- Experience of credit products or in a Valuation
- 3+ years experience in the financial
- Analytical and quantitative aptitude.
Candidates with quantitative backgrounds preferred.
- Knowledge of credit products/markets,
including derivative products, risk and valuation preferred
- Ability to understand complex products,
and analyze transaction and process flows
- Experience working with trading desks
- Understanding of valuation concepts as
they pertain to financial products/derivatives, some accounting knowledge
- Strong control mindset
- Strong verbal and written communications
skills. Must have the ability to lead discussions with all levels of management,
be comfortable discussing issues with Trading / Senior Management. Ability to explain complex concepts
- Very good Excel and Power-point skills;
experience with Visual Basic or database skills helpful.
- Propensity to handle multiple tasks
simultaneously and efficiently.
- Experience with project management