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CIB F&BM - CPG P&L Product Controller - Associate – London

Req #: 170055140
Location: London, ENG, GB
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 0 US Dollar (USD)
Controllers within the CIB Finance & Business Management organization are responsible for ensuring the overall integrity and validity of the financial statements and controls over the transaction cycle, performing critical reporting functions for the organization including financial and regulatory, product valuation, improving ongoing processes and ensuring execution and implementation of the overall financial architecture.
 
Credit Portfolio Group (CPG) is one of the key sub-groups within CIB Risk and is mandated to actively manage the Investment Bank’s retained credit exposures resulting from traditional lending and derivatives activities.  Specifically, CPG is responsible for developing and executing strategies with the primary goals of reducing credit risk concentration and losses from credit events, as well as aiming to increase the capacity for future business. A major component of these responsibilities is to manage the credit and associated market risk of derivative counterparty exposures. This entails risk position analysis for a number of separate markets, and executing a coherent strategy across them.
 
The successful candidate will join the CIB Risk’s Controller team which has product control responsibilities for CVA (credit valuation adjustment - which is essentially marking to market JPM’s derivative receivables to reflect the counterparty’s credit worthiness) and FVA (Funding Valuation Adjustment – which is essentially marking to market JPM’s uncollateralized derivatives to reflect the true funding cost). The team will provide support to the EMEA and Asia trading desks. The role would be responsible for: 
  • Production of CVA/FVA and hedge P&L for the EMEA and Asia region for Credit/Market (CDS/FI/IR/FX/Equity/Commodity/Futures & Options)
  • Analysis of the P&L and explanation to the trading desk
  • Reporting EMEA and Asia results into the NA Controllers for Global consolidation
  • Interaction with the Middle Office support teams to control hedge side P&L and risk
  • Actively engaging colleagues in Technology and other teams in Finance to improve the systems architecture and financial processes
  • Proactively identifying opportunities to improve the P&L reporting and the overall control environment with respect to CVA and FVA across the various product classes of derivatives within the CIB. 
  • Point of contact/escalation for Credit Portfolio Traders, VCG and LOB/LEC Controllers in respect to CVA and FVA reported in the Corporate Investment Bank.
  • Understanding of the Accounting, Tax and Regulatory treatment of the products supported.
Qualifications/Skill requirements
  • Experience of derivatives – either from P&L and Risk (Product Control) or trade support.
  • Understanding of investment bank product accounting.
  • Technical, analytical and quantitative aptitude. 
  • Diligent with high attention to detail.
  • Ability to work as part of a team and take a flexible approach
  • Demonstrated track record of process improvement and improving controls in previous roles
  • Ability to build and influence partnerships with the desk, technology and QR
  • Excellent verbal and written communication skills
  • Bachelor’s degree or equivalent
 
About J.P. Morgan’s Corporate & Investment Bank
 
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.  Further information about J.P. Morgan is available at www.jpmorgan.com.
 
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.
 
Closing date – 20th September 2016
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