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Corporate – Credit Risk Middle Office - VP

Req #: 170058470
Location: London, ENG, UK
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 3500 Pound Sterling (GBP)
Overview of team:
EMEA Credit Risk Middle Office (CRMO) supports the credit approval and decision making processes for the Credit Risk Executives and Client Credit Managers in Credit Risk. Credit Risk Middle Office supports the CIB Overlimit and Controls Monitoring, F&O & OTC Clearing, CCIC Middle Office, Treasury Services Credit Team and EMEA Funds onboarding.
 
In a changing regulatory and controls environment Credit Risk Middle Office provides control and oversight for various initiatives including regulatory requirement, systems improvements and controlled risk management of the firm as well as setting up credit facilities for new clients and onboarding.
 
The EMEA and Asia CRMO team is split between various functions and locations. In London the team supports the credit onboarding of new Funds and Hedge Funds.    
 
Overview of role:
This roles is to manage the EMEA Funds onboarding team and to help drive the change agenda for CRMO globally. It is a VP level role reporting into the regional lead and will be expected to support the regional lead across multiple functions. The current team onboarding is 6 and all London based. For the right candidate there is scope to grow this role into managing other teams within CRMO going up to 20 FTE. EMEA funds onboarding play an integral role in the credit onboarding process and partner closely with Sales, Onboarding, legal and credit.   
  • Analysing and evaluating information (prospectuses/ fund factsheets/ pension fund financial accounts/ actuarial reports/ legal doc etc.) and review of fund’s investment and leverage strategies, fund’s structure, investment restrictions and other fund details to calculate the appropriate risk appetite and assign obligor grade as per JPMorgan credit policy and review system.
  • Raise negotiation request for new ISDA/GMRA/FBF, CSA and other legal documents for counterparties to trade derivatives and securities trading; and liaising with legal department for execution of these documents.
  • Perform annual review of existing clients to ensure credit limits and obligor grades are based on latest available information.
  • Investigation and resolution of various credit exceptions including missing grade, unlinked outstanding, overline and unassigned customers.
  • Managing credit hotline calls from the trading floor requesting trade pre-approval.
  • Provide policy and systems’ advice and support to Credit Executives and Client Credit Managers.
  • Review of existing operating procedures to improve internal controls and increase operational efficiencies and ensure that these are in compliant with credit risk policies
  • Work closely with senior business managers to identify and reducing control gaps and operational inefficiencies within credit risk departments.
  • Manage relationship with various stakeholders within the organisation i.e Sales, Onboarding team, Legal, Credit risk and Business management
Key tasks/objectives:
  • Manage EMEA Funds Onboarding by supporting day-to-day activities consisteing of 6 in London. Providing support for the regional lead.
  • Managing and developing teams and individuals performances
  • Partnering with key stakeholders in driving direction of the group
  • Partnering with Senior Risk Executives in London
  • Participate in cross Risk and LOB forums ensuring appropriate risk management approach
  • Liase and partner with various LOB Managers, Compliance teams and Business Managers in the region
  • Assess strategic directions identifying efficiences and control issues
Projects:
  • To take part in and/or lead various Credit Middle Office initiatives through to completion impacting Risk.

Skills Will Develop:

  • Management Skills
  • Project management
  • Time management
  • Influencing
  • High level Corporate and Investment Banking product knowledge

Minimum Skills Required:

  • Previous experience in Banking
  • Management of previous teams
  • Proven ability to deliver on change agenda
  • Educated to degree standard
  • Self-starter capable of working in a time sensitive environment
  • Strong understanding and experience of trade lifecycle from risk management platforms through to settlement and confirmation functions preferred
  • Prior experience working in a middle office or back-office team
  • Knowledge of multiple product sets a plus (e.g., derivatives, securities and loans)
  • Excellent communication skills including attention to detail with the ability to succinctly communicate requirements to LOBs with appropriate presentation materials
  • Proactive and creative problem solving with business process reengineering experience
  • Deals comfortably with ambiguity and uncertainty; working effectively and independently as part of a team
  • Ability to quickly understand a complex matrix of operating systems across the infrastructure and their interrelationships/dependencies
  • Team player with ability to work with colleagues in a collaborative manner, as well as ability to manage prioritisation
  • Strong Excel and Project Management skills required
  • Previous Risk experience a plus
Key Interactions:
  • Credit  Risk Executives particularly Funds and Hedge Funds sector
  • Sales
  • Onboarding Operations
  • Legal
  • Global Risk Middle Office teams
  • Risk Technology
  • Business Management
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.
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