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Commercial Bank – Risk Ops Analyst – ABL Operations (Chicago, IL)

Req #: 180032840
Location: Chicago, IL, US
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 0 US Dollar (USD)

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and 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 JPMorgan Chase & Co brands. JPMorgan Chase & Co.is committed to providing a comprehensive set of benefits choices to meet different employee needs and lifestyles, which include choices such as Flexible Work Arrangements with periodic work from home and non-standard business hours, fully paid parental leave time, health care insurance and retirement benefits.

 

Commercial Banking serves more than 30,000 clients, including corporations, municipalities, financial institutions, and not-for-profit entities with annual revenues generally ranging from $20 million to $2 billion. The Firm's broad platform positions the Commercial Bank to deliver extensive product capabilities - lending, treasury services, investment banking, and asset management - to meet our clients' domestic and international financial needs.


The Risk Control Analyst within ABL Operations will be responsible for performing audits on new, amended and restructured transactions that are booked on the Asset Based Lending Environment (ABLE), maintain and develop departmental procedures and drive process and procedural improvements through trend analysis.

 

Specific Responsibilities

  • Perform a comprehensive review / audit of the Asset Based Lending Environment (ABLE) system deal setup comparing the legal documentation as the source document to the setup on ABL Operations’ loan system of record (ABLE).  This review is performed to mitigate risk to JPMC and to limit any client impact by ensuring all terms and conditions match per the legal document. 
  • Identify any control gaps and deficiencies in procedures and processes through the formal review / audit of loan closings.  Analyze audit reporting to ascertain trends in deal structure setup and make recommendations to senior ABL Operations managers.
  • Understand the Borrowing Base construct and how the ABLE system portrays collateral and excess availability.
  • Understand all aspects of fee accounting, ABLE fee types and transactions and their impact on JPMC’s general ledger and downstream impacts.
  • Proficient in JPMC’s flood policy, ABL flood procedures and ABL Operations’ role in flood due diligence.  Ability to read and interpret flood insurance policies.
  • Assist in the callback verification process within ABL Operations.  Prepare necessary documents to submit to CLW for wire instruction validation.  Prepare reports detailing all callbacks.  Understand JPMC’s funds transfer process.
  • Assist in the semi-annual Risk Control Self Assessment for ABL Operations.  Work with both operations and WLS Risk and Control team to gather reports necessary for testing, prepare results and self identify any needs for further process enhancement to mitigate risk.
  • Work closely with ABL’s Controller.  Track and report to Finance concessions and waivers within the ABL line of business.
  • Perform other projects  / tasks as assigned


Qualifications
  • Experience:  Bachelors degree in accounting /finance / general business or 5+ years of related experience preferred.
  • Knowledge:  Knowledge of the asset based lending line of business, borrowing base concepts and general commercial lending knowledge.  Knowledge of loan documentation and fee accounting.
  • Communication:  Superior communication and customer service skills, both internally and externally focused and verbal and written.  Ability to formulate well thought out questions to our business partners.
  • Teamwork:  Willingness to pitch in and help out for the good of ABL Operations as a whole, supportive, helpful and respectful of others.
  • Technical:  Knowledge of ABLE or similar loan systems of record, familiarity with ARC / iCRD proposals, QIP application.
  • Leadership:  Takes responsibility, seeks out additional responsibilities, is highly respected by peers, and exercises sound judgement.  Demonstrates flexibility to ensure that ABL Operations delivers a world class product to its clients.
 

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