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Asset Wealth Management Risk – Mortgage Credit Risk Management – Vice President

Req #: 170103158_1
Location: Chicago, IL, US
Job Category: Accounting/Finance/Audit/Risk
Job Description:

JP Morgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with 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 http://www.jpmorganchase.com/.

 

Our Firmwide Risk Function

Our Firmwide Risk function is focused on cultivating a stronger, unified culture that embraces a sense of personal accountability for developing the highest corporate standards in governance and controls across the firm. Business priorities are built around the need to strengthen and guard the firm from the many risks we face, financial rigor, risk discipline, fostering a transparent culture and doing the right thing in every situation. We are equally focused on nurturing talent, respecting the diverse experiences that our team of Risk professionals bring and embracing an inclusive environment.The Mortgage Credit Team (MCT) is responsible for the credit quality of a $39 billion US residential real estate collateralized loan portfolio of over 27,000 loans.  MCT approves or has oversight on each mortgage loan requests and monitors the overall portfolio is terms of structure, composition, concentrations, and delinquencies.  MCT partners with Mortgage Operational Risk Governance, Legal and Compliance to oversee, administer and ensure adherence to internal and regulatory standards articulated in the mortgage on-line underwriting guide and associated risk policies.  MCT produces monthly portfolio reports and quarterly portfolio presentations to the entire WM Risk organization. MCT is also engaged in the approval and maintenance of mortgage credit approval authorities.

 

Responsibilities

 

MCT Vice President/Credit Executive is primarily responsible for the following:

 

·         Exercise prudent credit judgment in reviewing and approving mortgage requests up to $10MM or approved lending authority level.

·         Partner with Head of Mortgage Credit, Regional Credit Executives, Mortgage Advisory and Lending Advisory to advise and oversee large/complex mortgage requests over $10MM.

·         Work closely with underwriters and mortgage advisors to ensure a quality and thorough borrower financial analysis, with a credit structure consistent with credit risk appetite, policy and other legal/compliance requirements.

·         Be recognized as a mortgage subject matter expert – in terms of overall policy and collateral types; as well as changes in legal/compliance issues as they pertain to US residential real estate.

·         Identify and escalate gaps or inconsistencies in policies and procedures which may impact the risk in the mortgage portfolio.

·         Play a key role in supervising the quality of the mortgage portfolio by identifying and monitoring concentrations, trends and themes in the portfolio, including meaningful contributions to monthly portfolio reports and portfolio reviews.

·         Participate and lead ad hoc projects related to the mortgage business including cross line of business or new product initiatives.

·         Comfortable operating in a high volume, high pressure environment; making well thought out but timely decisions in a highly client focused business

·         Excellent communication skills, both written and verbal, interpersonal skills, and analytical and problem solving skills (including financial analysis)

·         Strong leadership, management and business partnership skills

·         Attention to detail and ability to consistently follow credit policy

·         Ability to analyze credit structures and the attendant credit risks

·         Ability and willingness to coach and mentor underwriters and mortgage advisors

·         Degree in Finance or related field; MBA preferred

·         Minimum of 5 years experience in credit risk; preference specific to mortgage originations and /or underwriting experience 

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