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Asset Wealth Management Risk – Credit Executive for the Northeast Region - Executive Director

Req #: 170105800
Location: New York, NY, 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.

 JPMorgan Private Bank is a global wealth management leader that delivers the highest quality advice, service, capabilities and products to wealthy individuals and families in 36 countries around the world. The Private Bank delivers highly customized and tailored solutions to help clients with the challenges of substantial wealth, utilizing the Private Bank’s discretionary investment management, brokerage, tax and estate planning, credit, capital raising and specialty wealth advisory services while leveraging the commercial and investment banking capabilities of the firm.

 

Key responsibilities:

 

Risk & Control

·         Responsibility for the Northeastern US Credit portfolio, with primary ownership of managing portfolio risks within acceptable quality and loss tolerances.

·         Approve credit risk exposure relating to the client base within authorized limits.

·         Assignment of risk ratings, LGDs, and other risk metrics across the portfolio.

·         Understand GWM Credit Risk appetite on wholesale loans, mortgages, OTC products and others.

·         Maintain satisfactory Audits across the credit portfolio.

·         Identify and monitor concentrations, trends and themes in the portfolio, and direct the preparation of Portfolio Reviews.

·         Ensure that Risk exceptions in the portfolio are appropriately managed and escalated as required.

·         Identify names promptly to be added to the Watch List or Criticized and Classified loans, manage CSR process

·         Partner with the Business to build a culture of Risk discipline across the organization.

·         Work closely with the Underwriter team and build an integrated approach to decisioning credits that incorporates underwriter input.

·         Engage with Wholesale Credit as appropriate.

·         Engage with Mortgage Bank as appropriate.

·         Engage with Credit Middle Office to understand controls that exist in the Middle Office.

 

Business Partnership

·         Ongoing approval of new transactions / portfolio reviews / risk discussions.

·         Work with / provide credible challenge to Lending Solutions & Mortgage Advisory on new products, new initiatives.

·         Work with the Credit Middle Office to continuously upgrade and trim the Risk Reporting MIS to keep it relevant for the portfolio.

 

People Management

·         Provide direction to build talent, engage in talent reviews and performance review committees.

·         Lead, guide and manage a team of Credit Executives for the Northeast region

·         Be a senior mentor to the US underwriting team and foster a strong team culture across the Underwriters and Credit Executives.

 

Innovation

·         Challenge the status quo. Continuously strive to find better, more efficient ways to do things we do well.

·         Use technology where we can to strengthen Risk Management practices and products.

·         Find gaps in Risk Policies / Underwriting guidelines. Work with Risk Policy to upgrade risk management practices.

 

·         Strong leadership, management and business partnership skills

·         Good communication skills, spoken and written 

·         High level of analytical skills, including financial analysis

·         Attention to detail and ability to consistently follow Credit Policy

·         Ability to analyze credit structures and the attendant credit risks

·         Familiarity and expertise with legal documentation

·         Ability to understand the business and market context

·         Preferred knowledge of integrated wealth management (for example, generational planning structures and solutions, portfolio theory/asset allocation, markets)

·         Formal credit training required with experience and familiarity of all risk types: market, liquidity, reputation, operations, complex derivatives, ACH, etc; some workout/problem loan experience preferred

·         Ability to interact well with clients, senior colleagues and juniors

·         Ability and willingness to coach and train junior Capital Advisors

·         Degree in finance or related field; MBA preferred

 

Experience

·         Minimum 15 years in Banking, with at least 5 years in senior position, with experience in overseeing a large credit portfolio and structuring complex credit transactions.

 

 

 

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