|Job Type:||Full Time|
J.P. Morgan serves one of the largest client franchises in the world. Our clients include corporations, institutional investors, hedge funds, governments and affluent individuals in more than 100 countries. J.P. Morgan is part of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of clients and consumers under its J.P. Morgan and Chase, and WaMu brands.
J.P. Morgan Asset Management is a leading asset manager of choice for institutions, financial intermediaries and individual investors worldwide. With a heritage of more than two centuries, a broad range of core and alternative strategies, and investment professionals operating in every major world market, we offer investment experience and insight that few other firms can match.
Asset Management (AM) Finance and Business Management (F & BM) provide legal entity and business financial control, reporting and analysis, as well as MIS and decision and strategy support for the Asset Management business. The AM UK Controllers team within AM F & BM has the primary responsibility for ensuring integrity of the financial accounting and reporting of all AM UK entities, maintaining adherence to regulatory requirements and ensuring a strong control environment exists, as it relates to all products and operational areas that affect the financial accounts.
The AM UK Controller will lead and manage a team which has responsibility for the integrity and controls of financial accounting, analysis and reporting for all AM UK legal entities under U.S. GAAP and IFRS. Reporting also includes regulatory, board and ad hoc business reporting. The AM UK Controller also acts as the primary local Controller contact for senior AM UK business and finance leaders and board members as well as for Corporate Finance functions such as Tax, Treasury and Liquidity, RCMO, VCG, Corporate Accounting Policy, etc. The Controller also helps lead the Capital and Liquidity Review Committee and also may serve on various other risk and control Committees or Boards.
The applicant will have the following key responsibilities:
Lead, manage and coach the AM UK Controllers team in their support of the above and the following
- Financial and regulatory reporting for each of JPMAM’s regulated entities in the UK.
The production and submission of consolidated regulatory and financial reports;
Oversight of the production of annual financial statements and, when the role holder is also a Director of the relevant legal entity, additional shared responsibility for the accuracy of such statements;
Reviewing regulatory returns to ensure that there are robust controls in respect of financial and regulatory reporting;
Oversight of the creation, analysis and application of accounting policy and ensuring approach and conclusions are documented.
- The management of staff with legal entity** reporting responsibilities including hiring, training, and development responsibilities with respect to the team. From time to time the Controller may be required to assist with the development and implementation of relevant projects undertaken by the business.
- Effective, on-going liaising with the various business functions and the firm’s control functions including Compliance, Tax, Treasury, RCMO, VCG and Risk, as well as the Global AM Controller.
- The role-holder’s duties with respect to the responsibilities above include:
- Ensuring appropriate management and governance structures are in place
- Taking decisions on issue resolution and the allocation of material priorities
- Reviewing and acting upon management information relating to the control environment
- Communicating and escalating to senior management, the AM Global Controller and elsewhere as appropriate, issues, priorities and initiatives relating to the role-holder’s remit
- Sponsorship of material projects and initiatives.
From time to time the role-holder may be required to attend meetings with the regulators of the Asset Management UK business and would be required to communicate clearly and openly on range of operational and strategic topics relevant to his/her remit. The purpose of these meetings would be to inform the regulators regarding their areas of interest and to assist the management of JPMAM in providing any information or explanations required.
**Legal Entity Control - general
- Ensure that each legal entity complies with local and US regulatory reporting requirements
- Manage the external reporting relationships with regulators and auditors, working where appropriate with Compliance
- Analyze legal entity implications of new business developments and impact of changes in the regulatory framework
- Ensure adequate capital management and financial ratios of the legal entities
- Governance and oversight for the integrity and accuracy of JPMCB financial results
- Developing and reviewing LOB level planning and forecasting analyses for JPMCB
- Working across functions on JPMCB and other legal entity level operating and strategic issues
- Designing, implementing and overseeing an end to end, Firm-wide, Regulation W governance and oversight framework;
- Defining, establishing and implementing a firm-wide LE simplification strategy and execution framework;
- Sponsoring and driving execution of key Legal Entity related milestones;
- Maintaining strong working relationships with regulators, auditors and internal partners;
- Policy Management of inter-entity reorganizations, capital actions and affiliate support document.
The AM UK Controller is expected to demonstrate a wide range of business skills at a consistently high level of performance in order to ensure that the requirements of the role are met. These include:
A deep understanding of financial requirements applying to the UK Asset Management business and the ability to oversee the effective application of financial and regulatory reporting requirements across all UK entities and EMEA where applicable;
In-depth knowledge and understanding of the UK Asset Management business;
Strong strategic analysis and decision-making ability;
Exemplary leadership and communication skills; previous management experience essential and,
The ability to apply experience in a practical and considered manner
The role requires
- Education to degree level and an Accountancy Qualification (preferably Chartered);
- Big 4 audit and assurance experience desirable;
- At least ten years post-qualification experience of having worked in the Financial Services industry with a deep understanding of prudential regulation; and,
- A track record of having contributed proactively to senior committees or Boards and of having influenced the application of strategy and operational matters.
- Strong working knowledge of IFRS and US GAAP experience preferred
- Strong working knowledge of the UK and European regulatory environment as it pertains to asset management. Knowledge of US regulatory requirements would be beneficial
- Strong PC skills (Excel and Word);
- Strong team player;
- Ability to review documents within deadlines, whilst maintaining a high level of accuracy and quality;
- Understanding of general ledger control and performance of financial reconciliations required;
- Understanding of statutory accounts prep and audit file preparation required.
JPMorgan offers a highly competitive compensation package and an exceptional benefits program, which can include pension, private medical care, life assurance and a range of flexible benefits, dental, child care vouchers, travel insurance, etc.