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CIB F&BM Credit Costs Product Controller Associate

Req #: 170041200
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 and small businesses, 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.


Credit Costs Product Controllers within the CIB Finance & Business Management organization work closely with the Credit organization and are responsible for the analytics, reporting and the general ledger bookings of Allowance for Credit Losses.  The role provides the candidate an opportunity to understand credit fundamentals, analyze portfolio credit concerns and strengthen their accounting concepts.  The area is a critical priority for the firm and provides extensive exposure to Senior Management in CIB Credit and Finance.


Specific responsibilities of the Credit Costs Product Controller:

  • Partner with Wholesale Credit Analytics & Solutions to support IFRS 9 implementation and evaluate the credit risk for CIB’s retained loan & lending related commitment portfolio under this methodology
  • Develop CIB Credit Costs package for IFRS 9, which is used by the Credit Costs Committee (comprised of Senior Management from Risk & Finance) to evaluate CIB’s retained credit risk
  • Explain impairment results clearly and concisely to the Credit Costs Committee in Quarterly Meeting
  • Develop framework for analysis, understand model inputs, and provide stakeholders with main drivers behind the movement of impairment numbers under IFRS 9
  • Define reporting requirements for implementation of IFRS 9
  • Develop control document outlining all deliverables and dependencies
  • Continually work with Accounting Policy and Wholesale Credit Analytics and Solutions to improve the architecture, framework and policies for loan loss allowance reserves under IFRS 9
  • Responsible for the analytics and general ledger bookings of Allowance of Credit Losses under IFRS 9.  Coordinate ledger bookings with Financial, Product & Legal Entity Controllers
  • Understand the firm’s stress testing platform and regulatory agenda to form strong foundation of credit costs under IFRS 9
  • Support ad hoc requests and analysis from various stakeholders including Portfolio Managers, Credit Executives, F&BM, Wholesale Credit Analytics & Solutions, Investor Relations and External Reporting
  • BA / BS degree required
  • 3-5 years of experience in Finance - knowledge of banking-book products, loan accounting and allowance for credit losses is helpful but not mandatory
  • Energetic team player with the ability to build strong working relationships within the team and can partner with multiple stakeholders effectively
  • Strong Accounting background and Controller mindset
  • Strong analytical, quantitative, and investigative problem-solving abilities
  • Excellent communication skills; verbal, written and presentation
  • A self-starter who is organized and consistently meets deliverables with tight deadlines
  • High level of attention to detail and time management. Highly organized and proactive
  • Ability to work under pressure, prioritize multiple tasks, and bring tasks to complete closure
  • Knowledge of Microsoft products - Word, Excel, Power point, Outlook.
  • Knowledge of Advanced  excel, macros will be an added advantage
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