JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. 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.
If you're interested in working in an environment where leadership, excellence, integrity, and diversity are among our core principles, then explore the opportunities at JPMorgan Chase.
The Commercial Bank (CB) Regulatory Operations team supports compliance, and manages and maintains reference data to ensure that our customers, employees, and lines of business are in adherence with firm standards and required regulations.
The Global Know Your Customer (KYC) Quality Assurance (QA) Team is an integral part of the Controls environment within CB Regulatory Operations and is responsible for conducting a continuous analysis against internal procedures and regulatory requirements to ensure quality, completeness, and accuracy. The team works closely with the KYC Management Team, Global Financial Crimes Compliance and the enterprise-wide control program teams to identify, remediate and track issues, and develop controls to sustain improvements as they are made.
The QA Associate will perform targeted reviews on New Business and Renewal KYC records. The Associate will document all test results and findings and be expected to identify incorrect decision making, determine gaps in processes and procedures, and question the integrity of data and adherence to processing and servicing standards, policies and procedures. The Associate will review from a regulatory and compliance perspective that all Account Activity Review (AAR) requirements across multiple client types were adhered to. The Associate is accountable for providing constructive and material feedback to AAR Operations and the LOB, as appropriate. The feedback will include an assessment of the quality and accuracy of the information provided in the record and the inclusion of all supporting evidence to fulfill KYC due diligence requirements. The QA Associate reports to the QA Team Manager.
Perform ongoing formal testing of completed AAR records to ensure standards are met
Review the quality of completed AAR records using pre-defined test scripts which are based on AAR and Quality Assurance standards
Question and investigate the reliability and integrity of data, the validity of conclusions and the appropriateness of assumptions made (where appropriate)
Identify key issues, risks, trends, observations and provide reporting of results to key stakeholders
Perform root cause analysis and make recommendations for addressing identified deficiencies or improvements to business processes
Present findings via formalized feedback loop process, track and monitor corrections to identified critical defects
Present complex and sensitive issues to senior management in a persuasive manner
Work with Global Partners to ensure consistency with the Global QA framework and governance approach
Consider regulatory requirements and best practices to implement changes to process
Effectively communicate with key points of contact to ensure the fluid sharing of information and feedback across pertinent teams
Maintain the highest level of confidentiality throughout the QA process, disclosing only pertinent information to key stakeholders
Review discrepancies or newly discovered trends with QA Managers in CB for proper disposition and potential amendments to procedures
- Bachelor’s degree or equivalent professional experience
- 2-4 years of experience in retail brokerage transactions, regulatory reporting, or employee compliance activities such as U4 registration, operations quality testing, audit/compliance testing or related controls testing
- Expertise may also include: AML, Audit, Control, Risk, Fraud, and Research
- Strong research, analytical and comprehension skills, with ability to analyze large amounts of data
- Proven ability identifying issues/defects and recommending solutions
- Demonstrated experience adhering to controls and compliance standards
- Working knowledge of key employee compliance standards and/or financial industry regulations
- Strong Communication skills including written, verbal, and interpersonal
- Team Player
- Ability to multi-task and meet deadlines against a high volume work schedule
- Must be detail oriented, well organized, and a self starter
- Intermediate level skills working with the MS Office suite of tools, with an emphasis on Excel and PowerPoint; SQL, MS Access knowledge is a plus
- Working knowledge of MS SharePoint