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Corporate Sector Finance & Business Management - Legal CFO - MD

Req #: 180031096
Location: New York, NY, US
Job Category: Accounting/Finance/Audit/Risk
Job Description:
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
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 Legal Finance & Business Management team within the CS F&BM group supports the firm's Legal department, which consists of Litigation, Legal teams aligned with JPMC’s lines of business, the Office of the Secretary and the Office of the General Counsel. The group is responsible for all financial activities for both internal and external legal spend, an expense base in excess of $1.2B, providing business management support across all internal legal and operational functions, and managing the firm’s litigation reserve process. The team consists of 60 finance and business management staff, located primarily in NY Metro, London, Hong Kong and Mumbai.
The Chief Financial Officer for Legal reports jointly to the Chief Financial Officer for Corporate Sector and to the General Counsel for JPMC. The Legal CFO is a strategic partner to the General Counsel, and a member of the Legal Management Team. The CFO is responsible for the Legal Finance & Business Management team and oversees all aspects of financial planning & analysis for the Legal function. Responsibilities include budgeting, forecasting, and financial analysis of law firm and litigation-related vendor spend and oversight of the litigation reserve process for the Firm.  He/she will also partner with the Operational Risk department on internal and regulatory stress tests related to litigation.
Responsibilities include: 
  • Oversight of four key groups within the Legal F&BM team:
    • Business Management, which includes planning and expense management, business specific projects and end-to-end support of the Legal teams;
    • Operational Risk & Reserves, which includes management of the litigation reserves process, operational risk classification, and control metrics;
    • Reporting & Analytics, including the production of business metrics, oversight of Legal infrastructure development related to expense management, reporting and analytics;
    • Legal Billing Unit, which includes Legal invoice processing, invoice audits, settlements and law firm engagement.
  • As a member of the Legal Management Team, partner with the Firm’s General Counsel, the Legal COO and fellow members of the Legal Management Team in developing and implementing business strategy for the Legal organization, which covers a variety of initiatives including organizational development, technology strategy, and metrics and analytics
  • Oversee all financial aspects of the Firm’s internal legal expense and external spend with law firms and litigation-related vendors, including the development of strategies to create efficiencies and savings
  • Coordinate and oversee the process for managing of the firm’s litigation reserves, including monthly reviews with individual litigators and the head of the litigation department, quarterly reviews with the Firm’s CFO, CEO as well as external audit. Also provide support to the Head of Litigation for quarterly updates to the Firm’s Board of Directors
  • Partner with the Operational Risk department and senior litigators to develop the financial impact of legal stress scenarios for internal Risk Appetite and regulatory stress test requirements
  • Oversee the Business Management function which assists all members of the Legal Management team in managing their departments, following up on strategic objectives and driving goals and objectives
  • Develop analytics and metrics for “Managing the Legal Department like a business”, including metrics related to control, technology adoption, and external spend
  • Manage the Legal Billing Unit, which is responsible for the control and payment of all external law firms and vendors related to litigation matters for the firm
  • Develop the annual financial budget for the Legal department and external legal spend.  Participate in the strategic planning of the operating and technology budgets, including operational targets and location strategy
  • Ownership of business reviews and budget presentations to the co-Chief Operating Officers of JPMC, the CFO of JPMC, the General Counsel of JPMC, as well as members of the Legal Management Team
  • Prepare annual allocations for Legal expense, and create presentation materials for the Lines of Business 
  • 15+ years of finance and overall business management experience in a complex financial organization
  • Experience with legal matters or in a legal organization preferred
  • Experienced in the analysis of monthly financial performance, budgeting, forecasting, reporting
  • Knowledge of accounting policies relating to litigation reserves processing
  • 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
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