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CIB – Custody & Fund Services – Trust & Fiduciary - Depositary Member - Associate – Norway

Req #: 180018796
Location: Oslo, 03, NO
Job Category: Investment Banking
Potential Referral Amount: 0 US Dollar (USD)
CIB – Custody & Fund Services – Trust & Fiduciary - Depositary Member - Associate – Norway
J.P. Morgan Custody and Fund Services, a division of Investor Services is a global industry leader with $21 trillion of assets under custody. C&FS provides innovative custody, fund accounting and administration and securities services to the world's largest institutional investors, alternative asset managers and to debt and equity issuers. J.P. Morgan leverages its scale and capabilities in more than 100 global markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services. For more information, please visit

J.P. Morgan established itself in 2008 in Norway and offers wholesale activities within this important market. The services offered range from Investment Banking, Asset Management, Corporate Banking, Treasury Services and Investor Services and we are currently represented by 12 staff in Oslo. In 2008 we started servicing our Investor Services clients locally by a team of relationship and business developers. We provide our product offering to Pension Funds, Insurance Companies, Asset Managers and Financial Institutions. This service represents the full value chain within asset servicing ranging from: safekeeping of assets, investment analytics, fund administration, securities lending, collateral management and prime custody services. Depositary Services is an important component of our services.

J.P. Morgan’s Depositary business is a market leader in the provision of depositary services, servicing $1.8 trillion of global assets for 150 clients across 13 European locations, including the Norway. The Norwegian Depositary team monitors activities of the investment managers to conduct appropriate fund oversight, to confirm compliance with regulations, identifying and resolving any breaches to help ensure the underlying investors’ interests are protected.
Description of Responsibilities
  • Perform depositary duties on Norwegian based funds which include:
    • Carrying out due diligence and risk assessments
    • Cash flow monitoring
    • Oversight of the custody chain
    • Verification of the ownership non custodial assets and record keeping
    • Oversight of:
      • Valuation
      • Subscriptions and redemptions
      • Investment compliance
      • Income distribution
  • Monitoring market activities that would potentially require actions on behalf of a Fund;
  • Establish effective communication with clients, fund administrators (both internal and external) and as necessary third party agents to support the depositary work being performed
  • Assist in setting up and conducting client due diligence visits and risk assessments
  • Manages on a day-to-day basis the priorities and quality of the work
  • Understand the regulations applicable to the depositary bank responsibilities, follow the developments of the fund industry          
  • Opportunity to grow within the Depositary team
Knowledge and Experience
  • Relevant work experience (e.g. accountancy, controlling, fund management)
  • A good understanding of the fund industry
  • Hands on mentality
  • Ability to understand complex fund structures and the risk associated
  • Strong analytical skills
  • Strong technical knowledge in MS Office applications, specifically Excel
  • Ability to consistently work with accuracy
  • Affinity with numbers and risk analysis
  • Strong communication and interpersonal skills
  • Fluent in Norwegian and English
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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