Corporate Sector Finance & Business Management - Human Resources CFO - MD
Req #: 180031082
Job Category: Accounting/Finance/Audit/Risk
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the worlds 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/
The Corporate Sector Finance & Business Management (“CS F&BM”) group within Corporate Finance provides financial management, business management, analytics and reporting support for several corporate functions, including Enterprise Technology, Global Real Estate, Risk, Compliance, Finance, Legal, Human Resources, Corporate Responsibility, Audit and other staff areas.
The Human Resources Finance team within the CS F&BM group is responsible for forecasting and analysis, reporting and budgeting for three areas: The firmwide Human Resources department, Employee Benefits and Equity Incentive Compensation (IC). Human Resources (HR) includes supporting the HR leadership team in managing and forecasting its firmwide expense base of $700M. Benefits include firmwide pension, 401k, medical and other employee benefits with total assets of $35B. Equity IC involves forecasting and analysis of restricted stock & options issuance and expense amortization for the firm. The team consists of 20 finance and business management staff, located in Jersey City, London, Hong Kong and Mumbai.
The Chief Financial Officer for Human Resources reports jointly to the Chief Financial Officer for Corporate Sector and the Chief Administrative Officer for Human Resources, and is a strategic partner to the Human Resources Operating Committee. The CFO manages the Human Resources Finance team and oversees all aspects of financial planning & analysis for the firmwide HR function including financial support for a number of strategic initiatives. Responsibilities also include budgeting, forecasting, and financial analysis for the firmwide employee benefit programs. This requires interaction with CIO/Treasury as well as actuaries for control and valuation of the firm’s retirement plan expense, funded status, AOCI, potential contributions as well as annual report disclosures. The CFO will also partner with Capital Planning groups to track the impact of stock option exercises on share count and work with the Corporate Risk function on internal and regulatory stress tests.
- Partner with the Head of Human Resources and fellow members of the HR Operating Committee in developing business strategy for the firm’s HR organization, which covers a variety of initiatives including: Learning and Recruiting transformation, Global People Support model and Infrastructure migration to a Cloud based solution.
- Oversee all financial aspects for bank-owned life insurance, deferred compensation, defined benefit pension, and other post-retirement benefit plans. This includes managing the quarterly asset and liability valuation processes under a variety of different internal and regulatory-driven economic assumptions and stress tests.
- Coordinate the forecasting and accounting for stock based employee compensation.
- Forecast equity and share count dilution from stock option exercises.
- Create annual employee benefit expense projections for the Lines of Business’ financial budgets.
- Develop the annual financial budget for the firmwide Human Resources department. Participate in the strategic planning of the operating and technology budgets, including operational targets and location strategy.
- Assist the Head of Human Resources in establishing financial targets for HR functions within each Line of Business.
- Partner with HR functional heads to identify and report on key financial, operational, control and organizational metrics to improve the business.
- Ownership of business reviews and budget presentations to the co-Chief Operating Officers of JPMC, the CFO of JPMC, the Head of HR, as well as members of the HR Management Team.
- Prepare annual allocations for Corporate HR and Compensation & Benefit Plan Related expenses, and create presentation materials for the Lines of Business.
- Oversee the preparation of the firm's Health & Welfare; Pension; 401(K); and Severance benefit plans' Annual Reports (Form 5500).
- 15+ years of finance and overall business management experience in a complex financial organization
- Experience with HR initiatives or in a human resources organization preferred
- Experienced in the analysis of monthly financial performance, budgeting, forecasting, reporting
- Knowledge of accounting policies relating to employee benefits and incentive compensation
- A solutions-oriented strategic thinker with strong organizational skills, sound judgment, decision making abilities, and used to dealing with ambiguity in a fast-paced environment
- Detail and control-oriented mindset
- Excellent interpersonal skills necessary to engage and influence a broad range of individuals across groups and key support functions, especially at the senior level
Excellent verbal and written communication skills, with strong ability to influence change and present complex and sensitive issues to senior management
Ability to multi-task and adapt to changing priorities with attention to detail and logical thought process
Ability to learn new concepts, systems, processes and initiatives
Self-starter with the ability to think creatively and laterally
Superior time management skills with the ability to work under pressure and prioritize both day-to-day activities and longer-term projects