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JP Morgan Regulatory Finance - Regulatory Capital Team VP

Req #: 170116767
Location: London, ENG, UK
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 0 US Dollar (USD)
JP Morgan Regulatory Finance - Regulatory Capital Team
Hiring Manager: Andrew Pearson
Start date: Immediately
Business Description:
The position is within the Capital Reporting Regulatory department of Finance. The group is a service-orientated business comprised of specialised individuals with knowledge and expertise in understanding, managing and delivering financial information to our regulators.  The group is also dedicated to adding value and improving efficiency, quality and controls.
The Regulatory function within the UK EMEA space is changing rapidly to accommodate both internal and external drivers of change: for example through greater business engagement, legal entity strategy and implementation of modelled approaches to capital.
The regulatory finance department is a high profile function, providing financial information to the Prudential Regulation Authority (“PRA”), Financial Conduct Authority (“FCA”) and Bank of England. The production responsibilities within UK Regulatory Reporting are split into two main areas: Capital Reporting, and Financial Reporting.
Capital Reporting Group
The core responsibilities of the Capital Reporting Group are:
  • Preparation of monthly, quarterly and biannual returns for the following solo regulated entities and their associated UK consolidation groups: JPMorgan Securities Plc (JPMS Plc), JP Morgan Europe Limited (JPMEL), JPMorgan Markets Limited (JPMML), JPMorgan International Bank (JPMIB)
  • Daily monitoring and preparation of capital adequacy and large exposures reports for the above entities
  • Interpretation of the Regulatory rules which forms the basis of PRA reporting and providing regulatory guidance to the business
  • Partnership and supporting other Finance areas with their reporting requirements (e.g. recovery and resolution, ICAAP)
Financial Reporting Group
The core responsibilities of the Financial Reporting Group are:
  • Preparation of monthly, quarterly and biannual returns for JP Morgan Europe Limited (JPMEL), JPMorgan International Bank (JPMIB), JPMorgan Securities Plc (JPMS Plc) and JPMorgan Chase Bank London (JPMCB).
  • Interpretation of the Regulatory rules which forms the basis of Bank of England and PRA reporting, and providing regulatory guidance to the business.

Job Title – Regulatory Capital VP:
The successful candidate will have the following responsibilities: -
  • Work with senior managers to highlight and resolve control issues using the UK Regulatory Reporting Completeness and Accuracy Standards
    • Continue to develop the control standards and information presented to the UK Controller and EMEA Regional Controller
    • Chair the monthly steering committee with the EMEA Regional Controller
    • Extend the control standards to ensure that they are fully rolled out to the  Financial Reporting Group
    • Work with key stakeholder groups to ensure that the control standards remain fit for purpose as the operating model changes with the on boarding of Athena for regulatory calculations
  • Drive remediation of control issues
    • Coordinator for issue prioritization / resolution
    • This will be using resources directly managed by the candidate as well we influencing others who are not direct reports
    • The candidate will also be responsible for drafting messaging of the status to senior global management
  • Focus on driving process efficiency - including continual challenge of operating model
  • Publishing the quarterly, semi-annual and annual pillar 3 regulatory documents onto the investor website
    • The pillar 3 document is going through significant change which go live from COB 31st Dec reporting
    • A senior associate who will report to the candidate will produce the documents for review
    • Multiple stakeholders need to be coordinated as well as multiple reviews with senior controllers and legal entity boards
  • Ensuring Capital team is compliant with firmwide control initiatives. This will include:
    • Issue coordination for business control forum (BCF)
    • Oversight of business continuity planning (BCP)
    • Oversight of User tool and RCSA
    • Action plan management/tracking
  • Coordination of Capital information / inputs into the following reports:
    • Recovery and Resolution
    • Solvent Wind Down
    • ICAAP
    • Board/Capital Committee /Risk Committee / LEC decks
      This role offers good career prospects within the regulatory group and there is the possibility of mobility to other areas within JP Morgan after two to three years.
Personal skills:
  • Strong interpersonal and team working skills
  • Focussed on execution skills and the ability to deliver results even through challenges
  • Ability to critically review and challenge numbers / strong analytical skills
  • Flexibility to work under pressure to meet changing work requirements and strict deadlines
  • Ability to communicate effectively
  • Strong control background with proven delivery of improvements
  • Familiarity with current regulatory rules (CRD4) and reporting requirements (COREP) would be desirable but is not essential  
  • Proficiency in Microsoft Office – Excel, Access, Outlook, Word and Powerpoint
  • Degree qualification and either accountancy qualification or qualification by experience within Financial Services industry
  • Good understanding of investment banking products including derivatives / financing transactions
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