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CIB – ERISA & Trust Oversight Fiduciary – Associate

Req #: 170115719
Location: Brooklyn, NY, US
Job Category: Sales/Trading/Research
Job Description:
The ERISA & Trust Oversight team supports JPMorgan in meeting the complex contractual, legal and regulatory challenges of ERISA and Fiduciary clients.  The Fiduciary role will assess the potential risks of internal products and processes and external service providers to JPMorgan’s ERISA and Fiduciary Trust clients across Investor Services which includes clients of Custody, Fund Services, Agent Lending and Depositary Receipts. This role will be part of a process to form a more cohesive team across IS.  This role will interface on a daily basis with a wide array of areas internal (Relationship Management, Client Service, Operations, Technology, Product Development, Investment Desk personnel, Risk Management, and Compliance) and external (clients, industry forums, auditors, and regulatory agencies) to the bank. Candidates for the position must be able to think critically as well as identify and drive end to end solutions. Candidates must possess exceptional communication, interpersonal skills and be able to manage initiatives to drive change across the organization.
Key Primary Duties would include:
  • Serves in a trusted advisory capacity to satisfy fiduciary requirements as required in OCC CFR 9, as well as ERISA, DOL and other regulatory requirements.
  • Ensure that the bank’s trustee  and fiduciary obligations are fully understood, documented, and met;
  • Support the Alternative Investment Execution desk on the Fiduciary Oversight team in the review, approval, and documentation of client investments in non-exchange traded assets
  • Be principally responsible for testing controls over Alternative Investment Execution transactions to ensure that they are compliant with compliance procedures
  • Support the daily review of certain live transactions to ensure that they are permissible for ERISA and Trust clients,
  • Support Trust Administration Reviews for our Trust clients
  • Advise business and support functions on compliance issues relevant to new and existing banking regulations for trust/ERISA and fiduciary services
Core Job Responsibilities:
  • Provide administrative support to the Alternative Investment Execution Desk, including maintaining documentation of transactions and communicating with Client Service, Clients and Fund Managers
  • Track and reconcile alternative investment transactions to ensure completeness and timeliness of execution
  • Monthly control testing, MIS reporting and KRI assessment for alternative investment transactions
  • Review a queue of cash/security transactions to determine whether they are permissible under ERISA
  • Track  questionable transactions to ensure completeness and timeliness of execution
  • Monthly control testing, MIS reporting and KRI assessment for questionable transactions
  • Partner with Audit, Legal and Compliance to ensure full compliance with all applicable rules and regulations relating to ERISA, OCC Reg  9 and DOL;
  • Identify potential fiduciary issues and work closely with the business to see these issues resolved, and
  • Partner with Sales Management, Client Service, Product Development, and Operations to continually refine and improve the products and services offered to JPMorgan’s pension and retirement clients, and strengthen the Custody and Fund Services operating model.
  • Participate in regulatory exams from OCC, internal/external audit reviews and compliance
  • Liaise with oversight and control


 The candidate must meet the following qualifications:
  • Strong interpersonal, verbal &  and written communication skills, comfortable interacting with senior management
  • Proficiency with  computer and navigational skills (Microsoft Office, SharePoint, Access, Visio (a plus)
  • Proven experience with enhancing existing process/procedures
  • Strong quantitative, critical thinking and analytic skills; confidence with dealing with data aggregation and analysis
  • Strong working knowledge and/or experience with regulatory rules, Audit, risk management, and compliance preferred;
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