CIB F&BM - Regulatory Reporting - Associate
Req #: 170093980
Job Category: Accounting/Finance/Audit/Risk
The position is within the Capital Reporting Regulatory department of Finance. The group is a service-orientated business comprised of specialised individuals with knowledge and expertise in understanding, managing and delivering financial information to our regulators. The group is also dedicated to adding value and improving efficiency, quality and controls.
The regulatory finance department is a high profile function, providing financial information to the Prudential Regulation Authority (“PRA”), Financial Conduct Authority (“FCA”) and the Bank of England.
The production responsibilities within UK Regulatory Reporting are split into two main areas: Capital Reporting, and Financial Reporting.
Capital Reporting Group
The core responsibilities of the Capital Reporting Group are:
- Preparation of monthly, quarterly and biannual returns for the following solo regulated entities and their associated UK consolidation groups: JPMorgan Securities Plc (JPMS Plc), JP Morgan Europe Limited (JPMEL), JPMorgan Markets Limited (JPMML), JPMorgan International Bank (JPMIB)
- Daily monitoring and preparation of capital adequacy and large exposures reports for the above entities
- Interpretation of the Regulatory rules which forms the basis of PRA reporting and providing regulatory guidance to the business
- Partnership and supporting other Finance areas with other reporting requirements (e.g. recovery and resolution, ICAAP)
Financial Reporting Group
The core responsibilities of the Financial Reporting Group are:
- Preparation of monthly, quarterly and biannual returns for JP Morgan Europe Limited (JPMEL), JPMorgan International Bank (JPMIB), JPMorgan Securities Plc (JPMS Plc) and JPMorgan Chase Bank London (JPMCB).
- Interpretation of the Regulatory rules which forms the basis of Bank of England and PRA reporting, and providing regulatory guidance to the business.
The Regulatory function within the UK EMEA space is changing rapidly to accommodate both internal and external drivers of change: eg through greater business engagement, legal entity strategy and implementation of modelled approaches to capital.
Job Title – Regulatory Capital VP
We are looking for a candidate for the role of Team Lead within the Capital Reporting Group. A successful candidate will have the following responsibilities:
- Oversight of the quarterly market risk capital reporting requirements to the PRA, including critical review of returns (primarily the following COREP templates: C.14, C.18, C19, C.21,C.22, C.23 and C.24)
- Focus on control environment and monitoring / driving process efficiency - including continual challenge of operating model
- Oversight of daily monitoring process for both capital solvency and large exposure inputs
- Oversight of internal capital reporting information (eg Board packs)
- Provide focus point for technical questions for other team members
- Developing a more structured model and related MIS to improve engagement with Business
- Engagement with EMEA Reg policy team to understand implications of upcoming regulatory change and determining how to incorporate in the Operating model
- Developing network and acting as key contact within the Reg team for other areas of Finance and the Business
- Managing a team of 5 people
This role offers good career prospects within the regulatory group and there is the possibility of mobility to other areas within JP Morgan after two/three years.
- Strong interpersonal and team working skills
- Focussed on execution skills and the ability to deliver results even through challenges
- Strong team management skill
- Ability to critically review and challenge numbers / strong analytical skills
- Flexibility to work under pressure to meet changing work requirements and strict deadlines
- Ability to communicate effectively
- Familiarity with current regulatory rules (CRD4) and reporting requirements (COREP)
- Team management experience
- Proficiency in Microsoft Office – Excel, Outlook, Word and Powerpoint
- Degree qualification and either accountancy qualification or qualification by experience with Financial Services industry
- Good understanding of investment banking products including derivatives / financing transactions
- Knowledge of banking products (deposits, loans, credit facilities)
Start date: immediately
Hiring Manager: Andrew Pearson