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EMEA M&A, ECM and Billing Product Controller — VP

Req #: 170110170
Location: London, ENG, UK
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 3500 Pound Sterling (GBP)
Department Description
 
Global Investment Banking (“Investment Banking”) is a sub-line of business within the Corporate & Investment Bank (“CIB”) line of business of the JPM Group. Investment Banking works with a broad range of clients, from large and middle-market corporations to financial institutions and governments.
 
Investment Banking provides advisory, full-service capital raising, credit and risk management solutions to a broad spectrum of clients across industries and regions, ranging from large and middle market corporations to financial institutions and governments. Investment Banking product offerings include mergers and acquisitions, divestiture and restructuring advice, capital markets and capital raising (e.g., equity capital markets, debt capital markets, ratings advisory and syndicated and leveraged finance), corporate finance advisory and corporate derivatives marketing. The regions covered by Investment Banking include North America, Europe, the Middle East and Africa, Asia Pacific and Latin America.
 
Investment Banking’s clients are organized across industries and regions. The industries covered include consumer and retail, healthcare, diversified industries, financial institutions, governments, financial sponsors, energy, real estate, technology, media and telecommunications. The regions covered include North America; Europe, Middle East and Africa ("EMEA"); Asia Pacific ("APAC"); and Latin America ("LATAM").
 
Client Executives organized by industries and countries serve as the primary point of contact for J.P. Morgan's issuer clients. Key responsibilities include building and maintaining client relationships, providing industry expertise and identifying opportunities that fit client strategy. Product bankers provide execution capabilities, scale, global platform and comprehensive solutions for client financial needs.
 
Role Description
 
Banking Product Control is responsible for the overall integrity and accuracy of the financial statements and the overall governance of the end to end transaction control life-cycle. Product Control is an independent control function responsible for the accuracy and integrity of LOB books and records. This centres on both month end and quarter end close process to ensure the books and records, both income statement and balance sheet are closed appropriately, accurately and reconciled to reported P&L in DRR.
 
Product Control are also involved in the monitoring and analysing the trader’s activity/ risk positioning and related market events and ensuring P&L and risk is signed off on a timely basis in compliance with appropriate standards
 
In addition, daily reporting of PL during the month-end cycle is required, along with performance of Income Attributions as per relevant transfer-pricing agreements. With the ever increasing and demanding regulatory environment a Product Controller acts as a primary function to ensure the banks comply/attest to the regulatory requirements on the accuracy and completeness of financial statements.
 
This role encompasses the function of EMEA Mergers & Acquisitions (M&A) and Equity Capital Markets (ECM) Product Controller and EMEA BILLING Controller lead. As a product controller you will be responsible for the overall integrity and accuracy of the financial statements for M&A along with the overall governance of the M&A and ECM transaction control cycle and assist business in identifying and achieving its objectives. 
 
As a Regional Billing Control Lead your team will be responsible for billing the client for the Fees & expenses through collaboration with the front office and other expense management areas, where the goal is to bill the client for all incurred expenses along with the fee at the close of a transaction.
 
The EMEA CIB Client Billing team’s objective is helping to realize the goal of managing the firm’s expense base in addition to raising the invoices to clients.  This is accomplished through tracking, by project and client; the expenses incurred while engaged on deals.  The ultimate goal is to bill the client for those expenses along with the fee at the close of that deal utilizing the FAMIS system.
 
As a Billing Controller you will partner with our internal clients to monitor the billing and expenses for their deals with the goal of achieving expense recovery and timely collection of fees. 
 
Key Roles and Responsibilities
 
  • Managing a team of 6 controllers you will be an experienced manager who can assist with prioritization and direction as well as training, development, empowering, motivating and coaching of team members.
  • Excellent partnership skills required with other functions (Business Management, Middle Office, Technology, Front Office and Financial Control etc.) and Product Control peers in other regions
  • Strong partnership with the EMEA GIB business and the wider F&BM team providing effective support and control oversight to help maintain a strong control environment and facilitate business growth.
  • Key responsibilities include daily P&L and risk reporting, month end close, analysis of revenue drivers, balance sheet movements and linkage of business activity to full financial results.
  • Further responsibilities will centre on the managing impact to product control of legal entity and regulatory changes for the Capital Markets business, Volcker Reporting requirements and the Fundamental Review of the Trading Book (FRTB) – this is not an exhaustive list.
  • Support of the month-end close process in partnership with the Financial Control team (based in Delaware and Mumbai) through review of the EMEA GIB M&A and ECM balance sheet and P&L including associated investigation and resolution of variances and associated month end issues.
  • They will play a key role in new and ongoing EMEA GIB and finance related projects. Being on top of the technology agenda book of work and increasing the regional involvement in global initiatives. This would involve aspects of the future operating and business model such as GL enhancement and roll out, Aqueduct, Aggregator and Client Billing System enhancements
  • Challenge existing control operating model and identification of control issues/risks resulting in increased efficiency and implementation of effective control processes.
  • Participate in Internal Audit and/or Risk driven product reviews and products deep dives. Also a key participant in new product approvals (NBIA’s) from a Finance Control perspective.
  • Ensure rigorous compliance with control policies, standards and procedures – e.g. P&L and Risk minimum standards compliance (Risk & P&L sign-off and comprehensive P&L explain), Product Control accountability standards, Income attribution (GMRA) and SAPCo (GMSA) compliance and Volcker compliance.
Candidate Profile
  • This is a good opportunity for an established VP looking for their next challenge with the potential for further responsibility in the fullness of time
  • Qualified accountant (ACA/CIMA/ACCA) – or equivalent with minimum  3-4 years PQE with strong accounting and double entry skills who can comfortably navigate their way around a product P&L and balance sheet with relative ease.
  • Proven skills and results in identifying and resolving  control and risk management issues that may impact financial results
  • Knowledge of ECM / M&A products advantageous but not essential, but they must have sound commercial acumen and financial services industry awareness and product knowledge across a number of asset classes.
  • Candidate must be a confident communicator (verbal, written and listening) who is used to dealing with numerous partners / stakeholders, works well under pressure, priortises and manages time well and manages expectations and anticipate needs appropriately in an environment that can change quickly so they also need to be flexible and adaptable to changing situations.
  • Strong control mindset, with an attention to detail who can challenge the status quo, set the agenda, generates ideas and solutions to problems, embraces change and drives it through to completion
  • Ideally candidate is a proven product controller who can bring knowledge and experience to the wider team along with a track record of execution on finance and business deliverables
  • Ability to influence and direct the activities of resources outside of direct control
  • Strong interpersonal, communication and team-building skills. Ability to manage several projects and tasks concurrently
  • Enthusiastic, highly motivated and committed individual
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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