J .P. Morgan’s Credit Portfolio Group (CPG) risk manages the retained credit risk of the CIB originating from the HFI loan portfolio and derivatives transactions (Including CVA and FVA reserves).
The role is the Business Control Officer (BCO), level within the Markets BCO team, focusing on the CPG end to end control environment spanning all of the primary functions from hedging execution, market risk, model risk, credit risk, VCG, Operations, Product Control and through to Legal & Compliance. The Rates BCO team is part of a wider Markets BCO team which reports into the Oversight and Control office as well as the Markets CFO.
The CPG Business Control Officer (BCO) will lead the CPG control agenda and will provide support to key stakeholders in all aspects of Front Office Supervision, Conduct and Operational risk identification and risk mitigation as well as the execution, implementation and enhancements of key Front Office controls.
The BCO will interact with multiple lines of business and corporate functions and will need to be able to work effectively with senior executives of the firm. The BCO will be based on the Trading floor in London, he/she will need to establish very strong relationships within CPG that includes business heads, desk heads, traders, business managers and keys business partners such as Product Control, Technology, Market Risk, Operations, Compliance etc. He/she will need to develop a deep understanding of the business, its control challenges, the architecture and products. The candidate should be interested in working in a fast-paced and dynamic environment, participating in key initiatives and becoming involved in a diverse set of issues that will have a direct impact on the organization.
Key responsibilities include
- Facilitate CPG control governance and help manage conduct and operational risk and control agenda
- Assist with Front Office supervision reporting and management
- Front Office Supervision reporting and oversight including exception management
- Identify and remediate control gaps
- Provide input into further enhancements of Front Office Supervision portal
- Supervisory attestations reporting - tracking and evidencing of business executive attestation
- Standard operating procedures documentation and implementation
- Control and regulatory governance management
- Assist with reporting, administration and running of CPG Business Control Forums (BCFs) and related control meetings with support functions
- Prep for internal and external regulatory & control meetings/reviews e.g. audits, regulatory exams, compliance reviews
- Facilitate tracking and resolution of operations risk issues & actions
- Assist with investigation, documentation and escalation of Operational risk events/errors
- Perform thematic and desk specific control deep dives
- Facilitate annual Risk and Control Self Assessment and on-going updates and maintenance of CPG RCSA