JPMorgan Chase is a leading global financial services firm with assets of $2.4 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services, transaction processing, asset and wealth management, and private equity. Under the JPMorgan and Chase brands, the firm serves millions of consumers and many of the most prominent corporate, institutional and government clients in the world.
Wealth Management (WM) is part of the Asset & Wealth Management business segment. For over 160 years, Asset & Wealth Management has offered high quality client service and customized solutions to solve the complex needs of wealthy individuals and their families around the world. The WM Operations team is comprised of over 800 members, with the main hub located in Newark, DE. WM Ops provides end-to-end support for all aspects of the client experience, working closely with client service, fiduciary, product specialty groups, third party vendors and other internal groups.
About Client Reporting
The Client Reporting Team is comprised of highly dedicated individuals who are responsible for all aspects of the client reporting for Private Banking accounts. The teams in Client Reporting include: Statements (Quality & Corrections), Suitability Hub, Regulatory Client Communications, Special Services, Audit Confirmations, Imaging and Fiduciary Safekeeping Services. The team interacts with a variety of internal groups including, but not limited to, the Client Onboarding, Investors, Bankers, Middle Office, Client Services and Fiduciary in an effort to assist with client requests, inquiries and/or issues.
The WM Client Reporting Specialist is responsible for the content of the Wealth Management Investment statement. This statement is generated from the Omni accounting platform, and is the primary source of client reporting in Wealth Management. The specialist will have a firm understanding of securities operations, and they will be able to translate accounting postings to client reporting on the statement. The specialist will partner with Operations, Technology & Front/Middle Office to identify and resolve issues and update transactions in OMNI to update statements.
- Act as the escalation point for client issues/inquiries relating to client reporting functions, which involves working with the Client Service/Fiduciary teams to resolve questions, investigate issues, and develop a satisfactory response to the client's concerns
Perform market value and Tax Cost reconciliations on client statements
Work with business partners to identify statement issues and provide guidance to the Operations Teams to make the appropriate account corrections in the core accounting system
Perform regular control reviews to ensure compliance with auditing, risk and regulatory requirements and standards
Assist with all aspects of the statement corrections process: Coding accounts in Omni to be held for correction, updating tracking database, reviewing corrected statements for accuracy, and releasing timely to the client
Review statement out of balance conditions and drive resolution. This requires determining the cause of the out of balance condition and making the necessary corrections to generate a client statement and/or coordinating with Technology for bulk updates.
Assist with additional Client Reporting tasks including: Audit Confirmations, ad hoc request, etc.
Participate in project initiatives including: establish business requirements, perform UAT and implement changes within the team
Prepare, review and revise Standard Operating Procedures as needed
Represent the Statements space as SME on any projects with impact to Statements
Work with Technology and Operations partners to understand functionality of Omni and appropriate postings for securities; understand how this translates to the statement and client reporting
- Strong analytical and problem solving skills
- Excellent team player
- Escalate potential issues or concerns to management team
- Strong client focus
- Outstanding attention to detail
- Highly motivated with ability to work independently and in a team environment
- Excellent verbal and written communication skills
- Ability to develop & maintain relationships with business partners
- Commitment to quality and control
- Ability to think creatively and recommend/implement process improvements
- Strong organizational skills to successfully manage multiple tasks at one time
- Strong background in use of computer systems (PC and Mainframe)
- Knowledge of Private Bank products/services
- Knowledge of the accounting for financial instruments, including derivatives and multi-currency instruments
- Knowledge of financial products with an understanding of the attributes of investment products, as well as related calculations
- A.S/ B.S. degree or equivalent work experience