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Wealth Management - Controls Management: Regional Testing and Oversight Officer - Associate/VP

Req #: 170097163
Location: London, ENG, UK
Job Category: Asset Management
Job Description:

 

J.P. Morgan Asset & Wealth Management, with client assets of $2.4 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.


Group Description:


Within Wealth Management (WM), the Global Controls Management (GCM) organization’s primary function is to (i) ensure a sustainable and disciplined end-to-end control environment for WM; (ii) identify and escalate issues with a sense of urgency; and, (iii) partner with the business to ensure timely remediation of issues.


Global Controls Management works in partnership with the business, as the first line of defense. The team assists in immediate, real time critical control issue detection, escalation, root cause analysis and remediation. In addition, the team works in collaboration with all other control functions – Compliance, Risk, Audit, and Legal.  


Team Description:


The Regional Testing & Oversight (RT&O) primary function is to oversee & support WM EMEA Front Office based activities & execution against a number of core firmwide Risk & Control based programmes with coverage spanning all European based Legal Entities. These include :-

  • RCSA (Risk & Control Self-Assessment) Program. The RCSA Program is a firm wide initiative which ensures that each Line of Business (LOB) evaluates core controls aligned to the business areas they support, assesses the risks associated with the end to end lifecycle and reports on design & operating effectiveness.
  • NBIA (New Business Initiative Assessment). A New Business Initiative “NBI” that requires NBIA review is the introduction of a new, expanded or changed product, service or related activity provided to clients or customers. All LOB’s and functions are required to adequately risk assess and approve new business initiatives (NBI) that potentially alter the Firm’s risk profile. The failure to identify and manage the introduction of new initiatives can expose the Firm to financial loss and strategic, reputational, regulatory, operational damage.

Each LOB must have an NBIA Program that complies with the Firmwide NBIA Policy and meets the Firmwide NBIA Standards. The programs must provide the necessary governance and procedures to review all relevant risks and controls, track conditions until closure, and demonstrate that the NBI is launched in a controlled manner.


In addition to RCSA & NBIA the team performs several other key Oversight & Control BAU related tasks such as support and review of Audit or Regulator based exams, Issue Identification and timely remediation and also participates in any new Firmwide O&C initiatives when appropriate (e.g. OLO - Office of Legal Obligations) Program.


The Wealth Management in the UK / EMEA is looking to hire a Associate or Vice President to join the London-based Control Officers responsible for owning and managing all of the aforementioned tasks in partnership with the Business and other core functional areas. This role is suited to an individual with experience in the Wealth Management industry and/or a Controls Management background.  


Core Accountabilities:

  • Own the coordination of the WM EMEA NBIA Committee through preparation of materials, active meeting participation and development of expertise in the relevant procedures and policy.  Develop effective working relationship with NBIA peers in other regions & Global NBIA Co-ordinator to leverage best practices and align to strategic changes in NBIA program.
  • Contribute to the production, coordination and analysis of the annual Risk & Control Self-Assessment (RCSA) for WM EMEA.

  • Oversight and participation in control issue identification and remediation management.

  • Supporting the Head of RT &O in Audit, Regulatory Exam preparation and follow up.

  • Responding to ad hoc queries from Business Controls Management (BCM) Senior Management Team, colleagues and the wider Private Bank.

  • Producing and, on occasion, designing high quality Management Information to be used by Senior Regional managers.

 

Skills and experience required for the position include:

  • Prior experience of Controls Management, Audit, Legal or Compliance within a complex financial enterprise; knowledge of the Wealth Management business and/or Risk & controls environment preferred.
  • Inquisitive and proactive in identifying risks and proposing solutions.
  • Excellent organizational skills and attention to detail, including the ability to manage multiple asks to tight deadlines and re-prioritise as required.
  • Strong communication skills: the role will involve communicating with employees of varying levels, with diverse roles and different native languages. Leadership skills and the ability to influence key stakeholders would be an advantage.
  • Professional maturity; the ability to work independently, manage workload and handle confidential data.
  • The ability to build and maintain excellent working relationships with internal partners and colleagues.
  • Strong PowerPoint and Excel skills.

 


JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.

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