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Corporate –Asset Management – Auditor – VP

Req #: 180011694
Location: Senningerberg, L, LU
Job Category: Asset Management
Potential Referral Amount: 4000 Euro (EUR)
Audit - Asset Management EMEA – Vice President – Luxembourg Based
Department Description:
JPMorgan Chase & Co. Audit Department is an independent function within the corporation, reporting to the Audit Committee of the Board of Directors and administratively to the Chairman/CEO. Audit helps the organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate risk management, control and governance processes. Audit's mission is to provide the Audit Committee, executive and senior business management and our global and regional regulators with an independent assessment of the firm’s ability to manage and control risk and to influence and advise business managers on ways of enhancing their business’ capacity to manage risk.
Within the Asset & Wealth Management (AWM) audit group, the Asset Management (AM) EMEA audit team is responsible for assessing the adequacy of the control environment across J.P. Morgan Asset Management and Highbridge Capital Management in Europe. Working closely with auditors in specialist teams (e.g. technology, risk, corporate sector), AM auditors deliver a program of audit coverage across product (including alternatives), sales and operational areas. The AM EMEA audit team is expanding the audit resources locally in Luxembourg.
Business Description:
JPMorgan Chase & Co is a global leader in Asset Management with over $2.5 trillion in assets under supervision, including over $1.7 trillion in actively managed portfolios, and annual revenue of approximately $12 billion. AWM serves institutional, high net worth and retail clients in every major market throughout the world through the following client businesses of J.P. Morgan Asset Management, Highbridge Capital Management, and WM which includes the Private Bank and J.P. Morgan Securities.  AM offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity, including money market instruments and bank deposits. WM provides a full range of services and investment to high and ultra-high net worth individuals including discretionary investment management, brokerage, advisory as well and custody and banking services.
JPMorgan Asset Management in Luxembourg has a significant local presence through one of the largest Management Companies in the country, JPMorgan Asset Management (Europe) Sarl (JPMAME). JPMAME oversees a broad range of funds across different asset classes, distributes funds in several branches located across Europe, and employs a significant number of staff in Luxembourg within administrative and client services departments.
Position Description:
We are looking for a Luxembourg-based Auditor in the AM EMEA Audit team with a strong audit, assurance or controls background at an asset manager, in particular, with experience reviewing fiduciary activities which may include portfolio management and trading. Alternatively, strong candidates with Private Banking will also be considered. The role focuses predominantly on Asset Management businesses in Luxembourg and Europe; however, the successful candidate will also have the opportunity to participate in audits covering other areas of the AWM business (for example, the Private Bank), where opportunities arise.
As an auditor on the AM EMEA team, you will gain an understanding of the key risks facing the business and the controls designed to mitigate those risks.  You will then participate to test the effectiveness of those controls, execute that test program, and document the results in Audit's work paper database.  As the VP of Internal Audit for AM in Luxembourg, you will also be asked to represent the audit department locally with management, review the audit coverage to ensure local requirements/activities are captured, and help communicate audit findings with local stakeholders in Luxembourg. This role will include the opportunity on occasion to manage audits and staff, interacting with senior management and executing planning, fieldwork and reporting. This role provides an opportunity to gain an understanding of the AM business and work with the stakeholders to improve the control environment and implement operational efficiencies.
Key responsibilities:
  • Work closely audit team colleagues to ensure that key risks are identified and assessed in the program of audit coverage.
  • Assisting the AM EMEA Team Lead, help to construct and review the program of audit coverage of Asset Management in Luxembourg, in order to effectively capture local requirements and activities.
  • Assist the AM EMEA Teal Lead with the maintenance of Luxembourg Audit Plans and preparation of Board and committee reporting in Luxembourg.
  • Assist in all aspects of audits including risk assessments, audit planning, audit testing, control evaluation, report drafting and follow up and verification of issue closure.
  • Communicate and share subject matter expertize within the audit department on Luxembourg activities and regulatory requirements (e.g. CSSF / EU), as applicable.
  • Identify risks, evaluate, test and report on the adequacy and effectiveness of management controls.
  • Write audit work papers and draft audit issues.
  • Finalize audit findings and use judgment to provide an overall opinion on the control environment.
  • Document audit results and communicate issues to management, identifying opportunities for improvement in the design and effectiveness of key controls.
  • Employ computer-assisted auditing tools where applicable to maximize the efficiency of sampling.
  • Build and maintain key relationships with stakeholders, establishing a culture of engagement while adding value, and attending local Luxembourg governance forums to represent Internal Audit.
  • Participate in the department’s Continuous Monitoring program in Luxembourg and European branches for Asset Management.
  • Bachelor's degree or equivalent from a top tier university.
  • Relevant financial services industry experience, preferably within Audit or risk and control functions.
  • Relevant business or audit experience, and knowledge of, the Asset Management industry in Luxembourg and applicable EU and CSSF regulation. 
  • Previous experience in one or more of the following areas preferred: asset management; fiduciary investment and administration; private banking; capital markets.
  • Relevant audit/accounting (e.g. ACA, CIA etc.), business (e.g. MBA) or industry qualifications (e.g. CFIRS, CFA, CAIA, FRM, IMC).
  • Ability to manage multiple tasks or audits concurrently in an efficient and effective manner and with minimal supervision.
  • Perform audit work in accordance with department and professional standards and complete assignments in an efficient manner.
  • Excellent communication (i.e., verbal and written) and interpersonal skills, with the ability to present complex and sensitive issues to senior management and influence change.
  • Enthusiastic, self-motivated, strong interest in learning, effective under pressure and willing to take personal responsibility/accountability.
  • Flexibility to travel as required (up to 20% within EMEA).
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.
J.P. Morgan offers an exceptional benefits program and a highly competitive compensation package.

J.P. Morgan is an Equal Opportunity Employer

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