Corporate - CIB Operational Risk Management - ED

Location:Greater London
Job Type:Full Time

CIB Markets – Operational Risk – Executive Director – London
JP Morgan Chase:
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/.
Our Firmwide Risk Function:
Our Firmwide Risk function is focused on cultivating a stronger, unified culture that embraces a sense of personal accountability for developing the highest corporate standards in governance and controls across the firm. Business priorities are built around the need to strengthen and guard the firm from the many risks we face, financial rigor, risk discipline, fostering a transparent culture and doing the right thing in every situation. We are equally focused on nurturing talent, respecting the diverse experiences that our team of Risk professionals brings and embracing an inclusive environment.
About J.P. Morgan’s Corporate & Investment Bank
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With nearly $20 trillion of assets under custody, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
The Corporate & Investment Bank (CIB) Operational Risk Management (ORM) team is responsible for independently assessing, reviewing and overseeing the management of Operational Risk by the first line of defense.
The successful candidate will join a small team of risk professionals from a diverse range of backgrounds and experience who collectively ensure that the Firm’s Operational Risk Management Framework is implemented and functions effectively within CIB Markets.
Description
The successful candidate will be based in London. The candidate will be responsible for:
  • Understanding growth or changes in business models and how these will impact operational risk
  • Independently evaluating and challenging implementation of the firm’s Operational Risk Management Framework (“ORMF”), promoting cross-LOB/Function consistency and identify areas of best practices.
  • Challenging the mitigation of catastrophic risks relating to Electronic Trading (E-Trading) Operational Risk Management
  • Driving the build out the E-Trading Operational risk Management Framework designed to provide effective challenge to the growing E-Trading Business activities across CIB Markets.
  • Reviewing and approving new or material changes to E-Trading Activities.
  • Providing oversight and independent assessment of the risks identified by the first line of defense. Where appropriate, providing independent and credible challenge to the first line and escalating any new or emerging risks or issues.
  • Independently assesses operational risks for relevant Markets business through quantitative and qualitative means. Oversee the second line of defenses independent assessment for business covered which identifies risk drivers that may impact operational risk activities and the controls to help mitigate such risks.
  • Using the results of risk assessments to identify heightened areas of operational risk to independently monitor the risks and test the effectiveness of controls within the relevant Markets business.
  • Drive the monitoring and testing agenda for business covered, utilizing key risk indicators (KRIs), key performance indicators (KPIs), and other metric. Reviewing and enriching KRIs and KPIs as required.
  • Informing the firm of operational risk levels and provide associated second line of defense support to all areas of the firm.
  • Raising issues for the first line of defense to remediate through action plans.
  • Leveraging and influencing a centralized strategy for metrics and dashboard reporting to support the CIB Markets ORM Mandate.
  • Reporting on results including changes in risk assessments, results of monitoring and testing, and required corrective actions to senior management, consistent with the firm’s escalation practices.
  • Reviewing and updating as required policies and standards established by Operational Risk and the second line of defense which set forth the requirements for CIB regarding the management of operational risk and enables oversight and independent assessment over operational risks inherent within the firm’s activities.
  • Liaising with key senior stakeholders across Markets including first, second and third line of defence.
  • Driving the broader Operational Risk agenda through research, presentations, assessments and reviews
  • Bring a focus upon internal process re-engineering, with a view to making recommendations and enhancements to existing Risk processes where opportunities arise
  • Stay abreast of industry news and regulatory developments to facilitate proactive risk identification and mitigation.
  • Review root cause analysis on internal operational risk events and maintain vigilance on external operational / market events

Requirements:

  • Minimum Bachelor degree; or sufficient compensating experience

  • Experience with risk management, product ownership, business management and operations, controls management, or application development with an emphasis on financial markets.

  • Understanding of Markets business, internal systems (including E-Trading systems), processes, front to back trade life cycle in detail an advantage

  • Excellent project management with successful track record of completion

  • Strong team player and self-starter
  • Passionate and capable of learning in a changing environment while delivering results

About J.P. Morgan Chase & Co:

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 with assets of $2.1 trillion. 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 JPMorgan and Chase, and WaMu brands.

JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer and a member of the UK Government’s Disability Confident Scheme.