J.P. Morgan is a leading global financial services firm, established over 200 years ago:
o We are the leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.
o We have assets of $2.5 trillion and operations worldwide
o We operate in more than 100 markets.
o We have more than 243,000 employees globally.
Our wholesale businesses include J.P. Morgan’s Asset Management, Commercial Banking and the Corporate & Investment Bank which provide products and services to corporations, governments, municipalities, non-profits, institutions, financial intermediaries and high-net worth individuals and families.
Our corporate functions support the entire organization and include the following functions: Accounting, Audit, Finance, Human Resources, Operations, and Technology.
The Market Risk RWA Reporting team is part of the RWA Reporting & Infrastructure group within the Regulatory Capital Management Office (RCMO). Market Risk RWA Reporting is responsible for producing firm-wide market risk regulatory capital reports and governing the market risk capital data controls process. Additionally, the group supports quantitative impact studies (QIS) for regulatory agencies; ad-hoc analysis requests for LOBs, business partners, senior management, and regulators; and, the implementation of the Basel rules.
The team oversees implementation of Basel III requirements for capital calculations, reporting, backtesting, and disclosure.
The Market Risk RWA Reporting Group is responsible for producing, analyzing and explaining risk-weighted assets (RWA) under the Basel III rules across multiple legal entities. The RWA results are reported to Line of Business (LOB) controllers and Corporate Financial Reporting; and used to facilitate forecasting and allocation of capital charge to LOBs. The team ensures that controls and processes for capital calculations, reporting, backtesting, and disclosure adhere to the Basel III Market Risk Rules. The core responsibilities are 1) MRC data control oversight, 2) production of Market Risk RWA charges; 3) provide RWA variance explains and change in RWA analysis; and 3) manage governance & controls on processes that support RWA calculation and reporting.
Market Risk Capital (MRC) and the calculated RWA rely heavily on risk models developed by Model Risk and Development (MRaD) based on the Basel 3 rules. The group works closely with MRaD to understand model methodology and model results. Specifically, the team is responsible for understanding the methodologies used for Value at Risk (VaR), Stress VaR, Internal Model Specific Risk (SR), Incremental Risk Charge (IRC), and Comprehensive Risk Measure (CRM). The team works closely with Regulatory Policy on rule interpretation and interfaces monthly with regulatory agencies and LOB business partners. Additional, the team liaisons with LOB business partners, MRMO and Operate to continuously improve the data quality and integrity of the inputs into the models.
The candidate’s responsibilities include managing the calculation, consolidation, reporting and explain of Market Risk RWA. The candidate will be responsible for ensuring full E2E process documentation – completeness of process workflows, governance, controls & procedures. The candidate will strive towards identifying opportunities to streamline and improve process efficiency and/or controls. The candidate will participate in ad hoc impact analysis studies supporting business partners, senior management and regulatory requests. The candidate will also participate in and/or lead projects supporting market risk RWA objectives across capital calculation, process/control improvement, and regulatory rule implementations.
The candidate will work with the manager in identifying and implementing process improvements to increase operational efficiency and enhance controls. The candidate’s responsibility include evaluating and managing controls on key processes and functions; identifying gaps in controls and remediation plans; and maintain documentation on controls, processes and procedures to an auditable standard.
- Degree in a Finance, Economics, Statistics, Computer Science or related field; advanced degree a plus; FRM certification a plus.
- 8+ years experience in regulatory capital reporting, finance, risk management, or related field
- Experience documenting issues and producing data quality metrics
- Experience partnering with technology, operate, and business to drive issue resolution
- Experience identifying, performing, and documenting key controls
- Experience supporting large initiatives across multiple functional groups
- Ability to self-manage, prioritize and work independently
- Strong understand of data quality controls and metrics
- Excellent communication skills (both verbal and written)
- Knowledge of financial products and financial markets, and market risk methodologies such as VaR, economic capital, regulatory capital, etc.
- Strong organizational skills and process orientation
- Ability to work well under pressure, tight deadlines and balance multiple priorities
- Strong problem solving and analytical skills
- Strong Excel and other Microsoft Suite background