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Firmwide Regulatory Reporting & Analysis (FRRA) Associate in Corporate Capital Stress Testing – Strategic Solutions Calculations

Req #: 170104931
Location: Brooklyn, NY, US
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 3000 US Dollar (USD)

JPMorgan Chase & Co (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at http://www.jpmorganchase.com/.


The Firmwide Regulatory Reporting & Analysis (FRRA) team resides within Corporate Finance. The group is responsible for the execution and delivery against the Firm’s regulatory reporting requirements to its U.S. regulators. The team has end-to-end responsibility for US regulatory reporting and capital stress testing, including the design, implementation, and oversight of the execution, analysis, control and governance frameworks. Its mandate includes determining the appropriate investment in people, processes and technology to improve the accuracy, completeness and consistency of the Firm’s US regulatory reporting and capital stress testing submissions, as well as the implementation of new requirements and guidelines as they are published.
 
The objectives of the FRRA Team are to provide leadership on all aspects of US regulatory reporting and Firmwide capital stress testing, including both internal and regulatory requirements.
 
The Firmwide Corporate Capital Stress Testing (CCST) group supports this mandate by:
  • Leading the aggregation of actuals and consolidation methodology for projections of CCAR, DFAST, Mid Cycle ICAAP, and internal Risk Appetite processes
  • Partner with Lines of Business (LOB), Finance and Risk Management functions, and senior management to prepare JPMC’s Capital Plan
  • Performing analysis of stress testing results of the Income Statement, Balance Sheet, RWA, and Regulatory Capital; presenting findings to senior management, the Board of Directors and regulators
  • Developing and continuously improving JPMC’s regulatory stress testing requirements and processes and supporting Corporate and LOB initiatives to continually improve and enhance the CCAR process
  • Coordinating and preparing JPMC’s responses to regulator questions and feedback
  • Monitoring and addressing new regulatory CCAR requirements
  • Responding to ad-hoc analytical requests from senior management, other functions, and regulatory agencies
Within CCST, the Strategic Solutions team is responsible for providing subject matter expertise (SME) and driving the development of the technology infrastructure to support firmwide capital stress testing, with primary focus upon CCAR/DFAST and ICAAP submissions to regulators.  In partnership with the Corporate Technology division, this role will have responsibility for improving and maintaining the financial concepts, capital forecasting calculations, and mathematical logic of JPMC’s proprietary system for capital stress testing.  It provides a unique opportunity for a candidate with a background in Finance and also an interest in mathematics and/or systems development.  However, please note this is a Finance role, not a modelling or quant role.
 
Responsibilities will include (but not limited to):
  • Develop a detailed understanding of JPMC’s regulatory and other capital stress testing requirements and processes
  • Provide SME on calculation and consolidation logic for Income Statement, Balance Sheet, RWA, and/or Regulatory Capital functional areas
  • Together with the project manager, review user acceptance testing (UAT) issues and work with IT partners on resolutions; document controls (as required) as part of the end-to-end implementation
  • Partner with colleagues across both Corporate Finance and LOB functions for capital stress testing related activities
  • Drive initiatives to continually improve and enhance capital stress testing processes, analytics, and reporting solutions

Candidate Requirements:

  • Bachelor’s degree required; Finance, Accounting or quantitative field preferred

  • Approximately 3-7 years relevant experience

  • Strong analytical and problem solving skills; experience and ability to analyze large data sets required

  • Prior regulatory capital and/or stress testing experience strongly preferred

  • Experience with financial system development preferred

  • Knowledge of balance sheet, income statement, regulatory capital, and basic accounting concepts required

  • Knowledge of, or direct experience with, banking products and business lines preferred

  • Control mind-set (ability to identify and close control gaps and/or issues)

  • Ability to multi-task and be hands on in a fast paced environment to meet deadlines under pressure

  • Excellent oral & written communication and relationship management skills

  • Creative self starter with strong initiative, ability to take ownership and work independently as well as contribute to the broader team

  • Proficiency in Microsoft Office applications (Excel & PowerPoint in particular)

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