JP Morgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with 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 http://www.jpmorganchase.com/.
Our Firmwide Risk Function
Our Firmwide Risk function is focused on cultivating a stronger, unified 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 Risk professionals bring and embracing an inclusive environment.
As a Credit Risk Manager in Asset Based Lending your responsibility will be to manage an assigned portfolio of ABL loans/relationships consistent with industry standards/credit philosophies as well as internal standard operating/underwriting procedures and portfolio management guidelines. Duties include:
Lead closing process of approved new business opportunities including negotiation of documentation and coordination with syndications if necessary. For assigned portfolio:
Recommend for credit approval appropriate structure changes or appropriate account management strategy based on changes or anticipated changes in client's business. Identify deteriorating credits, recommend appropriate course of action.
Retain and deepen client relationships. Look for opportunities to bring ideas to the client, especially cross-sell opportunities as reflected by referrals, presentations, meetings, between the clients and other product specialists within the bank.
Work with operations to ensure appropriate level of collateral reporting is in place. Interpret results of collateral monitoring / field exams. Establish reserves for any deterioration in collateral. Identify and understand inventory collateral and eligibility.
Review monthly and annual financial statements. Compare actual results to plan and prior year. Understand and reconcile any variances. Confirm covenant compliance and risk rating.
Communicate to manager and credit any material change in operating performance and collateral position. Recommend appropriate course of action to address operating or collateral issues.
Maintain current credit and financial statement files. Address/reduce documentation exceptions. Prepare brief call reports after customer visits that summarize items discussed and any follow-up items.
· Ideally 5 years of Asset Based Lending industry experience including two years of audit or underwriting experience. Exposure to ABL lending, bankruptcy, or loan workout strongly preferred. Must have excellent organizational and communication skills (both written and verbal). Bachelor's degree in Accounting or Finance preferred.
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