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Asset Wealth Management Risk – Operational Risk - Vice President

Req #: 180023896
Location: New York, NY, US
Job Category: Accounting/Finance/Audit/Risk
Job Description:
JPMorgan Chase & Co. is one of the oldest financial institutions in the United States with a history dating back over 200 years. We are a leading global financial services firm with assets of $2.6 trillion operating in more than 60 countries. We have 240,000 employees serving millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients.  We are a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity.  We have fiduciary assets under supervision and assets under management/custody of over $4.8 trillion combined and are one of the largest asset and wealth managers in the world.
 
Risk Management:
 
JPMorgan Chase’s firmwide Risk Management function operates independently of marketing and product groups within the lines of business  The Chief Risk Officer (CRO) of the firm reports directly to the CEO and is accountable to the Board of Directors, primarily through the Directors Risk Policy Committee.
JPMorgan Chase believes in a holistic approach to risk analysis by incorporating key risk disciplines including but not limited to Credit, Market, Principal, Liquidity, Model, Legal, Fiduciary, Reputation, and Operational Risk weighing these against returns.  
Our Risk Management team is committed to being a world-class leader in risk management, maintaining a system of strong controls, providing guidance and clear direction on key principles and proactively managing risks.  The Chief Risk Officer of Asset Wealth Management (AWM CRO) reports directly to the firmwide CRO and is a member of the Risk Operating Committee as well as the Asset & Wealth Management Operating Committee.  Operational Risk Officers have been appointed for each LOB. The Op Risk officers are members of the independent Risk organization and are responsible for providing oversight of the implementation of the Operational Risk Management Framework within each LOB. The AWM Op Risk Officer reports to the AWM CRO.
 
Role Coverage:
 
J.P. Morgan Asset & Wealth Management is a leading asset manager for individuals, advisors and institutions. Our investment professionals are located around the world, providing strategies that span the full spectrum of asset classes. As one of the largest asset and wealth managers in the world, with assets under management of $2 trillion (as of December 31, 2017), we provide global market insights and a range of investment capabilities that few other firms can match.
The Operational Risk Manager is responsible for oversight of the implementation of the Operational Risk Management Framework (ORMF) for AWM.  He/she is responsible for ensuring that the business understands its operational risks and has robust standards, controls and practices in place to mitigate these risks which could impact its capital, earnings, reputation or business operations or opportunities. 
In the VP LATAM role, the individual will report to the head of WM Operational Risk and provide oversight for op risk components of the WM LATAM business. The role also has a reporting line into the WM Chief Risk Officer (CRO) for LATAM (based in NY).
The successful candidate should be familiar with internal control systems (Risk & Control Self-Assessment etc.) and the Operational Risk Management Framework so that they can proactively and independently challenge the 1st Line team as appropriate. This may include conducting deep-dive analysis of operational risk events, targeted reviews of RCSAs, Scenario Analysis, Data and Information Management and location oversight. The role will work closely with other Risk Management colleagues and key control functions including Compliance, Audit and Oversight and Control.
 
Core Responsibilities:
 
  • Execute the approach to the oversight of the Operational Risk Management Framework implementation.
  • Provide independent, objective view of the Business and/or function control environment, mitigation strategies and emerging risks.
  • Maintain awareness of risk and control issues within the WM LATAM business / function whether self-identified or from internal /external audit.
  • Review internal and external Operational Risk Errors for opportunities to implement new preventive and detective controls.
  • Evaluate the strengths and weaknesses of existing controls and provide business direction on opportunities for improvement.
  • Identify and conduct Targeted Risk Assessments across key areas of potential risk.
  • Understand the area’s RCSA, Key Risk & Performance Indicators, and other controls to identify negative trends and potential control gaps.
  • Identify and conduct Targeted Risk Assessments across key areas of risk with WM LATAM processes.
  • Understand the area’s RCSA, Key Risk & Performance Indicators, and other controls to identify negative trends and potential control gaps
  • Maintain strong business relationships with internal business and functional support areas and develop and deliver presentations to senior audiences such as Control Committees, as needed.
  • Participate in various Operational Risk and LOB meetings related to operational risk and control matters.
  • Develop positive working relationships and act as liaison with Corporate Operational Risk (COR) in order to understand requirements for implementation.
  • Foster relationships with the WM Controls organization in order to ensure effective work alignment, while maintaining a distinction between the first and second line of defense.
  • Participate in New Business Initiative assessments as appropriate.
  • Provide support for other WM Operational Risk Management functions as appropriate.
  • Bachelor’s Degree
  • Wholesale business experience preferred
  • 8-10+ years’ experience in the financial services industry
  • 3+ years in Operational Risk Management or similar discipline of risk identification and management
  • Ability to collaborate with business and functional experts to provide risk assessment guidance, recognize risks and design enhancements
  • Ability to influence, negotiate, and lead change
  • Strong decision making, analytical, and creative thinking skills
  • High level of professionalism, self-motivation, and sense of urgency
  • Strong Teamwork and communication (written and verbal) skills
  • Robust organizational, project management and multi-tasking skills with demonstrated ability to manage expectations and deliver results
  • Proficiency in Microsoft Excel and PowerPoint (Moderate to High)
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