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Associate - Strategy, Wealth Management

Req #: 170095915
Location: New York, NY, US
Job Category: Asset Management
Job Description:

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 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. 


Asset & Wealth Management Background:

With client assets under supervision of $2.3 trillion and assets under management of $1.7 trillion, J.P. Morgan Asset & Wealth Management (AWM) is one of the largest asset and wealth managers in the world.  


AWM offers global investment management in equities, fixed income, real estate, hedge funds, private equity, liquidity, and multi-asset solutions.  It also provides trust and estate, banking, and brokerage services to high net worth clients, and retirement services for corporations and individuals.


AWM serves four distinct client groups globally through two businesses:  

  • The Asset Management (AM) business serves institutional and retail clients
  • The Wealth Management (WM) business, which includes the Private Bank and J.P. Morgan Securities, serves high net worth and ultra-high net worth clients


Team Description:

The Wealth Management Strategy team (WM Strategy) partners with senior Wealth Management leadership as a trusted advisor to solve their most critical strategic and operational issues.  The team may also be engaged to address Asset & Wealth Management-wide topics as needed. 


Typical types of engagements include:  

  • Performing competitive and market sizing analyses, including profiling competitors’ offerings / strategies and identifying factors driving growth or change in industry structure
  • Identifying and developing growth strategies, based on identifying customer segments, buying behaviors, and customer value propositions
  • Translating growth strategies into operational initiatives, by modeling business decisions, determining cost structures / drivers, and assessing financial impacts
  • Defining operating models and addressing related organizational design and governance issues, such as devising coverage models or defining client segments to differentiate service strategies
  • Engaging in business-wide or function-wide transformation efforts
  • Managing or facilitating inter-LOB or intra-LOB initiatives
  • Driving development of key leadership communication and strategy materials (including for Investor Day and annual Operating Committee off-sites)
  • Assessing strategic rationale and drivers of value in potential mergers and acquisitions transactions

Team Approach:

The team follows a hypothesis-driven, fact-based approach to problem solving.  The opportunity to solve critical business problems, coupled with the team’s diversity of perspectives and backgrounds distinguish WM Strategy from other areas of the Firm.  Typical project teams are comprised of 2 to 6 members, most of whom are former management consultants from top consulting firms (McKinsey, BCG, Bain, Strategy&, etc.).  Project lengths vary but are usually between 1 to 6 months, depending on complexity, scope, and potential follow-on engagements.


Functions & Responsibilities:

Senior Associates on WM Strategy help drive key projects forward, executing and owning detailed analyses and developing comprehensive presentations related to strategic planning, business improvement and optimization, and other internal consulting initiatives.


Senior Associates collaborate closely with VPs and EDs on the team in conducting analysis and research, and can expect to work extensively with other colleagues across Wealth Management, including front office, product, finance, risk, operations, and technology.  They may also manage other junior team members to complete an individual workstream.  They are expected to craft and present recommendations to senior leadership and have many opportunities for senior management interaction.


Thought Leadership

  • “Own” a complete workstream end-to-end, leading the thinking around problem-solving approach and framework to solve the issue
  • Design, structure, and “own” quantitative and qualitative analyses
  • Quickly synthesize and interpret data and develop frameworks and insights to address key strategic, process, or organizational changes (current and future states)
  • Identify major issues and actionable opportunities, design solutions, and quantify potential bottom-line financial impact across workstream
  • Synthesize impactful findings, develop recommendations, and write small documents with minor guidance / editing; present recommendations to senior management

Client Leadership

  • Plan and effectively lead overall interview campaigns, workshops, and focus groups
  • Lead select client interviews / working sessions to gather baseline information; independently requests needed information and follows up with clients
  • Advise and influence client stakeholders on key business decisions and change efforts
  • Delivers chapters of senior client presentations, with ability to recognize and address client motivations and concerns
  • Develops strong trusted advisor relationships with key client stakeholders

 Team Leadership

  • Lead one or more workstreams, potentially including managing analysts; escalates issues and risks with proposed solutions
  • Develop junior team members informally, including serving as a mentor
  • Creates work plans and manages expectations and quality standards for own work and potentially that of other junior team members
    • 2-5 years in consulting with a top-tier management consulting firm or an internal consulting / corporate strategy team, or equivalent experience in wealth management industry
    • Ability to provide structure to ambiguous situations and apply analytical tools to develop solutions
    • Strong client management and executive-level communication skills
    • BA/BS from top-tier program required; MBA or an advanced degree from a top-tier program preferred
    • Financial services background preferred, but not mandatory


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