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/
Audit Department & Team Description
JPMC's Audit Department reports to the Audit Committee of the Board of Directors and is further accountable to the Chairman and CEO, senior management and regulatory agencies. Audit is an independent risk assessment function established within the organization to evaluate, test and report on the adequacy and effectiveness of management's system of internal control.
The Corporate Functions Audit team provides audit coverage of key corporate functions including AML/BSA, Risk, Finance, Compliance , Legal, Human Resources, Corporate Real Estate, and Global Security & Investigation. The team also works closely with each Line of Business Audit team to ensure consistent coverage of these topics.
This position will be accountable for the oversight of program of audit coverage for BSA, AML, and OFAC, with emphasis on Transaction Monitoring.
The AML Audit VP will be a key member of the team responsible for the execution of key centralized AML audits and for providing subject matter expertise and oversight for AML audits conducted in lines of business. The position requires an extensive knowledge of BSA/AML in banking and background in controls compliance or audit best practices.
Using past experience as a bank examiner or audit/compliance professional, the candidate will be expected to: plan, execute, and supervise BSA/AML and OFAC audits; direct global audit coverage of BSA/AML and OFAC audits; establish, implement, and monitor firm-wide risk assessment and testing programs for BSA/AML and OFAC; interact with bank examiners; and establish and maintain relationships with senior internal stakeholders;
The ability to communicate effectively verbally and in writing to support the maintenance of the program, as well as, strategic direction and goals of the firm is critical.
- Oversee the execution of AML Audits within the context of the firm's global independent testing mandate, including robust tracking of audits, audit components, and issues
- Recommend solutions as part of planning to help execute audit tests by providing the ability to automate full-population testing, sampling, reproducing processes, and identifying exception testing.
- Develop a team focused on AML Risk Assessment , AML control audits, and independent validation of remediation activities
- Identify and implement best practices; drive change within the internal audit and the firm to strengthen to the control framework
- Partner with other groups within Audit to ensure the delivery of a seamless program of audit coverage across the firm
- Represent Audit on the firm's AML related committees and forums
- Follow-up with accountable business and compliance leaders and their teams to ensure control issues are effectively resolved
- Partner with the key AML stakeholders in Compliance Practices, QA and Testing teams to identify emerging issues and distill thematic or systemic control issues affecting the global organization.
- Develop and maintain relationships with the Global AML Management team
- Partner with Training team to identify and implement robust training on AML within Audit
- Partner with Model review teams on monitoring threshold testing strategies, and execution as necessary
- Stay up to date with evolving regulatory and market events impacting the firm's risk organization.
- Establish and maintain a business climate and culture that encourages integrity, respect, excellence and innovation
- Design analytics test to support audit activities, including Audits, Continuous Monitoring, and Risk Assessments
- Actively participate in the Audit Data Analytics forum, and contribute to the conversation.
- Perform data analysis as needed using various techniques (statistical analysis, predictive analytics, forensics review) to reach and support conclusions.
- Bachelor’s degree (or relevant financial services experience) required
- Past experience as a bank examiner, auditor, consultant or compliance professional with a deep understanding of BSA, AML, and OFAC (7+ years)
- Experience as a manager with an established track record of overseeing and executing both short term and long range objectives
- Strong control orientation and analytical skills
- Excellent communication and interpersonal skills required with ability to present complex and sensitive issues to senior management
- Collaboration with fellow managers in both the Audit and Compliance spaces
- Ability to build rapport with internal stakeholders and examiners
- Experience establishing and meeting goals, tracking and driving optimization opportunities, and presenting progress of the same
- Enthusiastic, self motivated, effective under pressure, and willing to take risk
- Works well individually and in teams, shares information, supports colleagues and encourages participation
- CAMS and/or Audit Certification a plus