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CIB – Market Risk Coverage – Credit Portfolio Group – Associate

Req #: 170082112
Location: London, ENG, UK
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 3500 Pound Sterling (GBP)
Group Description
 
CIB Market Risk Management is an independent risk group, reporting to the firm’s Chief Risk Officer (CRO), which identifies, measures, monitors and controls market risk. The group forms the key interface for discussing risk issues with the trading desks but retains independent reporting lines through the Risk management chain.
 
CIB Market Risk performs the following primary functions:
  • Independent ongoing identification, monitoring and control of business unit market risk
  • Performance of stress testing and qualitative risk assessments
  • Analysis of aggregated risks and tail risk exposure
  • Facilitation of efficient risk-return decisions
  • Regular dialogue with the trading businesses with respect to risk appetite, risk limits and individual large and complex transactions
Job Description
 
CIB Risk is seeking an Associate/Vice President level professional for the CIB Market Risk Credit Portfolio Group based in London. The role will be part of a trading floor based team covering the Credit Portfolio Group business. The Credit Portfolio Group (CPG) is responsible for actively managing the retained credit risk of the Corporate and Investment Bank (CIB). CPG’s portfolio includes credit exposure created by traditional credit products and derivative transactions. In addition, CPG is also responsible for hedging the CIB’s funding risk on derivatives. Differential Discounting (“DD”) is also part of CPG and serves as a central utility for other JPMorgan trading desks to hedge their exposure to these rates (“CSA risk”).  The market risk CPG team also looks at the CIB treasury risks so the role offers a unique opportunity to develop a holistic understanding of complex market risks. As a result of its activities, CPG is exposed to a wide range of derivatives risks in all asset classes (credit, rates, fx, equities and commodities). 
 
The role includes, but is not limited to
  • Daily reporting and monitoring of market risk positions and limits - with the aim to identify material risk exposures and concentrations. Due diligence and attention to detail is critical.
  • Perform pre-trade review of major transactions.
  • Improve risk transparency, methodologies and reports by conducting deep-dives on various risks that pertain to non linear derivatives payoffs.
  • Conduct ad hoc risk analysis, improve current risk tools as well develop new ones that will help in the risk monitoring / & analysis of the portfolio.
  • Monitor risk exposures, understand the factors that drive risk and P&L on the books, follow market movement/activities affecting positions, highlight and discuss risk changes and top risks.
  • Coordinate and work with trading, business management, Valuation Control Group, Quantitative Research, Structuring, Model Governance Group, and Regulatory Risk on projects relating to Market Risk.
  • Design & Perform Scenario analysis and stress testing.
  • Supporting other projects adhering to regulatory and internal control deliverables and guidelines.
  • Respond to urgent ad-hoc requests from senior management.
A successful candidate will combine strong project management and excellent communication skills, with an understanding of derivatives markets, risks and technology infrastructure to improve controls, efficiency and consistency across the business.
Skills/Qualifications
  • Market Risk or other risk management experience preferred.
  • Knowledge of derivatives in at least one asset class (IR, Credit, FX, Equity or Commodity).
  • A taste for understating complex risks arising from management of CVA / FVA / Treasury risks
  • Understand regulatory rules as they are released.
  • Experience with regulatory interaction and familiarity with regulatory rules pertaining to risk a plus.
  • Strong project management skills, ability to gain consensus among staff and drive initiatives to completion effectively absolutely critical.
  • Ability to multi-task, work well under pressure with commitment to deliver under tight deadlines.
  • Ability to work independently, as well as coordinate across a global team.
  • Strong analytical & quantitative skills are required.
  • Ability to synthesize key takeaways and simplify problems.
  • Clear oral and written communication in English is required.
  • Proficiency in Excel is required. Knowledge of VBA and Access is preferred.
  • Experience working with MaRRS, Kapital and/or Athena a plus.
  • Bachelor's degree required. Advanced degree preferred.
 
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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