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CIB – F&BM – EMEA DCM Product Controller - Associate

Req #: 180015408
Location: London, ENG, UK
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 3500 Pound Sterling (GBP)

EMEA DCM Loans Controller - Associate
CIB EMEA GIB Product Control
Michelle Kearns
Department Description
Global Investment Banking (“Investment Banking”) is a sub-line of business within the Corporate & Investment Bank (“CIB”) line of business of the JPM Group. Investment Banking works with a broad range of clients, from large and middle-market corporations to financial institutions and governments.
Investment Banking provides advisory, full-service capital raising, credit and risk management solutions to a broad spectrum of clients across industries and regions, ranging from large and middle market corporations to financial institutions and governments. Investment Banking product offerings include mergers and acquisitions, divestiture and restructuring advice, capital markets and capital raising (e.g., equity capital markets, debt capital markets, ratings advisory and syndicated and leveraged finance), corporate finance advisory and corporate derivatives marketing. The regions covered by Investment Banking include North America, Europe, the Middle East and Africa, Asia Pacific and Latin America.
Investment Banking’s clients are organized across industries and regions. The industries covered include consumer and retail, healthcare, diversified industries, financial institutions, governments, financial sponsors, energy, real estate, technology, media and telecommunications. The regions covered include North America; Europe, Middle East and Africa ("EMEA"); Asia Pacific ("APAC"); and Latin America ("LATAM").
Client Executives organized by industries and countries serve as the primary point of contact for J.P. Morgan's issuer clients. Key responsibilities include building and maintaining client relationships, providing industry expertise and identifying opportunities that fit client strategy. Product bankers provide execution capabilities, scale, global platform and comprehensive solutions for client financial needs.
Role Description
Banking Product Control is responsible for the overall integrity and accuracy of the financial statements and the overall governance of the end to end transaction control life-cycle. Product Control is an independent control function responsible for the accuracy and integrity of LOB books and records. This centres on both month end and quarter end close process to ensure the books and records, both income statement and balance sheet are closed appropriately, accurately and reconciled to reported P&L in DRR.
Product Control are also involved in the monitoring and analysing the trader’s activity/ risk positioning and related market events and ensuring P&L and risk is signed off on a timely basis in compliance with appropriate standards
In addition, daily reporting of P&L during the month-end cycle is required, along with performance of Income Attributions as per relevant transfer-pricing agreements. With the ever increasing and demanding regulatory environment a Product Controller acts as a primary function to ensure the banks comply/attest to the regulatory requirements on the accuracy and completeness of financial statements.
The position is within the EMEA GIB Controller team supporting the DCM Loans business within Debt Capital Markets (DCM) business. The Debt Capital Markets business is made up of two main sub lines of business, DCM Bonds (High Yield and Investment / High Grade) and Leveraged & Syndicated Finance (DCM Loans). They are referred to as DCM Bonds and DCM Loans respectively.
The position will involve working within the EMEA GIB controller team within EMEA supporting the BAU activities within that function, reporting including P&L production and Balance sheet analysis, working with key stakeholders within the Finance functions and other business and product partners.
DCM Overview
The debt capital markets business works directly with issuers, including corporations, banks and sovereign governments that seek funding solutions. The group offers a range of advice covering debt financing for acquisitions, the refinancing of existing debt as well as the restructuring of existing debt. Solutions can vary from a simple bank loan to multi-billion-dollar capital raising across asset classes. JPMS plc acts as underwriter and syndicator of high yield and high grade loan transactions.
The Product Controller team is also responsible for analyzing financial business results for DCM products including the following Products:
  • Leveraged & Syndicated Finance – syndicated loans, pre-funded loans, revolving credit facilities, bridge loans, bridge take outs
  • High Yield Bonds
  • Investment Grade (IG) Bonds
The candidate will also work on finance initiated and business driven projects to ensure system and business/operational process changes having a financial/accounting impact are properly identified and controlled.
Key Roles and Responsibilities
  • Excellent partnership skills required with other functions (Business Management, Middle Office, Technology, Front Office and Financial Control etc.) and Product Control peers in other regions.
  • Strong partnership with the EMEA GIB DCM business and the wider F&BM team providing effective support and control oversight to help maintain a strong control environment and facilitate business growth.
  • Key responsibilities include weekly P&L and risk reporting, month end close, analysis of revenue drivers, balance sheet movements, linkage of business activity to full financial results and regulatory reporting.
  • Support of the month-end close process in partnership with the Financial Control team (based in Delaware) through review of the EMEA GIB DCM balance sheet and P&L including associated investigation and resolution of large and complex variances.
  • Challenge existing control operating model and identification of control issues/risks resulting in increased efficiency and implementation of effective control processes.
  • Participate in Internal Audit and/or Risk driven product reviews and products deep dives. Also a key participant in new product approvals (NBIA’s) from a Finance Control perspective.
  • Ensure rigorous compliance with control policies, standards and procedures – e.g. P&L and Risk minimum standards compliance (Risk & P&L sign-off and comprehensive P&L explain), Product Control accountability standards, Income attribution (GMRA) and SAPCO (GMSA) compliance and Volcker compliance.
Candidate Profile
  • Qualified / part-qualified accountant (ACA/CIMA/ACCA) – or equivalent with minimum 3-4 years’ work experience in a financial services environment preferable.
  • Proven skills and results in identifying and resolving control and risk management issues that may impact financial results.
  • Knowledge of credit / debt products advantageous but not essential, but they must have sound commercial acumen and financial services industry awareness and product knowledge across a number of asset classes. Exposure to and understanding of Risk Weighted Assets, Capital and Balance sheet Management would be useful.
  • Candidate must be a confident communicator (verbal, written and listening) who is used to dealing with numerous partners / stakeholders, works well under pressure, priortises and manages time well, manages expectations and anticipates needs appropriately in an environment that can change quickly so they also need to be flexible and adaptable to changing situations.
  • Strong control mindset, with an attention to detail who can challenge the status quo, set the agenda, generates ideas and solutions to problems, embraces change and drives it through to completion.
  • Ideally candidate is a proven product controller who can bring knowledge and experience to the wider team along with a track record of execution on finance and business deliverables
  • Ability to influence and direct the activities of resources outside of direct control
  • Strong interpersonal, communication and team-building skills. Ability to manage several projects and tasks concurrently
  • Enthusiastic, highly motivated and committed individual.
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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