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.
AWM fraud is a reasonably new function that was created to centralize and drive fraud prevention activities across AWM. The new function will drive and co-ordinate activities across a number of partner organizations such as Client Service, Risk, Cyber Security, Technology and Oversight & Control to ensure the business is well positioned to meet the both present and future fraud threats that impact the business
The position is a newly created position reporting to the Head of Fraud for AWM. The role holder will be a critical part of the build out of the fraud function whose objective is to protect the assets of both JPM AWM clients and also the firm itself. The key functions of the role holder will be;
· AWM Digital Fraud Strategy Build – Creation of a fraud strategy for AWM that results in a clear articulation of fraud risk appetite within AWM. The role holder will build a strategy to support the Digital Wealth Management roadmap that is a key pillar of the Global Wealth Management business. This will support the digital build for the self directing investment strategy to ensure the Chase Wealth Management (‘CWM”) client base is protected from fraud. A key outcome of this strategy will be that client experience on all digital channels is considered frictionless. This will require continual reduction in transactions alerted for fraud review whilst proactive identification of fraud is optimized.
· Leverage of Firmwide capabilities in CCB/CIB – Build on the digital fraud roadmaps of both the CIB and CCB Fraud teams to identify opportunities to further leverage the fraud protection their capabilities provide for AWM. The role holder will need to ensure that their ongoing build of software and capability aligns to the needs of the AWM business. The role holder will need to build credibility quickly in the digital space to ensure that both CCB and CIB are open to having their roadmaps influenced for the benefit of AWM.
· Device Intelligence / Transaction Monitoring – The role holder will spend a significant part of their time working with the CCB Digital team to embed AWM client interests into their strategy. This will require the individual to have deep expertise in device intelligence (and associated industry products that provide this), carrier based authentication (working with the Telecoms industry) and have a strong understanding of ‘in app’ authentication that CCB are building. Experience of working with Actimize in the digital fraud space would be advantageous.
· Digital Authentication Lead – The role holder will face off to the digital authentication teams in CIB and CCB as well as partnering with Client Service/Digital and Technology in AWM. The role holder will be expected to drive change across all areas to drive the right authentication strategy for the AWM. The role holder will need deep insight into app based authentication and understanding of biometrics and behavioral profiling to ensure AWM has an optimized strategy.
· Support the International Private Bank – The IPB has footprints across EMEA, Asia and also LATAM. The role holder will need to work with Client Service, Digital, Compliance and technology to drive digital adoption across the countries by ensuring the right fraud controls are embedded in the digital channel.
· Corporate Cyber Liaison - Work with Corporate cyber team and the threat intelligence team to leverage their capabilities across the AWM business. The role holder will be expected to be able to identify key opportunities that the Corporate Cyber team can provide to AWM
· Industry Liaison – The role holder will need to be credible not just within JPMC but also credible with their industry peers globally. This will require the ability to be comfortable facing off to industry leaders in the US. Europe and Asia.
· Fraud Loss Mitigation – AWM leverages significant capabilities within other LOBs. The role holder will need to review processes in place and re-engineer these where appropriate to ensure client experience and risk management are optimized. Documented Service level agreements need to be built to ensure transparency
· Digital Fraud management experience – in a large financial services organization
· Payments experience – Good understanding of payment systems for both domestic and international payments (SWIFT / FED/CHIPS/Faster Payments /ACH)
· Strong communication skills – Understanding of how to manage senior stakeholder communications and strong communication skills in order to ensure stakeholders understand the remediation plans for significant fraud issues.
· Links to other Financial Institutions – Ability to build credibility with other financial institutions and maintain strong relationships with the institutions.
· Industry Expertise in the Digital Fraud & Authentication space – Hands on experience of working with industry leading fraud and authentication products that deliver frictionless client experience whilst managing the fraud risk within appetite.
· Cross LOB experience – Strong understanding of the differences in fraud transaction monitoring in a consumer and a corporate environment is highly desired.
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