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Wealth Management, Collateral Risk Analyst, Analyst

Req #: 170095864
Location: Brooklyn, NY, US
Job Category: Asset Management
Potential Referral Amount: 0 US Dollar (USD)

About JP Morgan Asset & Wealth Management
J.P. Morgan Asset & Wealth Management, with client assets of $2.4 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.

Our Business
Wealth Management Operations supports the JPMorgan Private Bank in JP Morgan’s Asset & Wealth Management line of business. The Private Bank is the world’s premier service provider for ultra and high net worth individuals. Our goal is to help these affluent individuals across the globe optimize their wealth, after taxes and across generations. Wealth Management Operations provides end-to-end support for all aspects of the client experience, working closely with client service, fiduciary, product specialty groups, third party vendors and other internal groups.

 

Group Description:
The Private Banking (PB) Credit Risk Management (CRM) Operations team monitors all JPMorgan PB exposures (loans, OTC derivatives, and brokerage margin loans) secured by financial (equities, fixed income, etc) and other asset types. They manage intraday transactions and exceptions related to secured credit facilities and pledged collateral. The CRM team is also responsible for global reporting and analytics for portfolio reviews, collateral concentrations (industry, security, country, emerging markets), shortfall trends, derivative exposures, issuer risk, and problem assets. Additionally, the team is responsible for ensuring compliance with all covenant requirements, including escalation where needed. The functions performed by this team are critical to protecting the bank from potential credit losses.

Job Description:
The analyst will be part of a team with the following responsibilities:
• Understand federal regulations that govern relations with affiliates.
• Understand federal regulations that govern loans by banks for the purchase of securities on margin.
• Set-up agreement terms regarding collateral in credit systems for ongoing monitoring.
• Review and understand new agreement terms and documentation.
• Monitor collateral daily and identify non-compliant scenarios. Confirm the accuracy and escalate to Credit and Bankers for resolution plan and date determination.
• Manage requests for intraday transactions and approve if collateral position adequate. Intraday transactions are inclusive of cash and security movement within pledged accounts as well as loan and letter of credit draw downs.
• Manage third party pledge scenarios.
• Participate in credit system defect identification, UAT testing, and ongoing business requirement discussions.
• Manage initiatives to resolve control gaps and enhance current processes for further efficiency and effectiveness as needed.
• Provide analysis concerning portfolio as needed.
• Validate and issue margin calls to Financial Advisors.
• Track and Assist in resolving margin calls.
• Manage inquiries from Bankers, Brokers, Lenders, Client Services on margin lending topics.
• Provide training to Credit Risk Management Team and other group as required.

Skills and Experience Required:

Minimum of two years working experience in a regulatory reporting or collateral group focused on supporting prime brokerage relationships, institutional or high net worth client base.
• Strong detail and results orientation
• Strong verbal and written communication
• Strong analytic skill
• Must be self-motivated and able to work independently
• Must be able to manage day to day work in addition to managing multiple projects
• High-level of proficiency in organizing, prioritizing, and managing issues
• Advanced Excel skills; Microsoft Access Skills a plus
• BA/BS or equivalent in a business field

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