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.
Firmwide 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. This involves an independent assessment of both where traders are marking their risk and any required adjustments to get to exit price. As well as ensuring the accurate valuation of fair valued portfolios, VCG is also a key component of cross functional initiatives such as CCAR and Recovery and Resolution.
VCG covers risk across the whole of the liquidity spectrum and adopts customized approaches accordingly. Cutting edge technology is used to price test the more liquid risk on a daily basis whilst in depth analysis and market expertise are required to cover the less liquid and structured positions. In order to achieve this, VCG needs to work closely with stakeholders across the firm, including Traders, Risk, CFOs and Controllers.
VCG is organized along business lines such as the Investment Bank and Mortgage Bank and sub business lines such as Rates Flow and Exotics.
VCG Fixed Income Financing team is seeking an Associate to join the team covering North America. The candidate will work with a wide array of Interest Rates products (Repos, Reverse Repos, TRS, IR swaps, XCCY swaps, swaptions).
Play a key role in Price Testing & Fair Value Adjustments validation for FI Financing business
Own the relationship between the trading desk and VCG and actively interact with key finance, technology and risk partners throughout the firm
Lead discussions with Trading and Management during regional and desk-level risk meetings
Enhance existing control framework including continuously improving independent pricing processes, assessing potential coverage developments, ensuring that the current framework captures the economic reality of the valuation risks and implementing new tools to enhance control efficiency
Provide advice on valuation issues related to large concentration, revenue on new deals/complex transactions, review non-standard or structured trades and new products
Partner with Quantitative Research (QR) and Model Review groups to address any model limitations
Work on key projects for the Finance organization together with the Front Office, QR and Technology
Participate in regulatory exams and bank’s regulators inquiries
Responsible for the delivery and professional development of a team of valuation experts, mentor junior members and create positive work environment
The role requires a good understanding and keen interest in financial markets, combined with strong analytical abilities, clear verbal and written communication skills and willingness to contribute as part of a high performing team. The candidate should have the following core competencies:
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