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.
Wealth Management is part of the Asset & Wealth Management business segment. It has offered for over 160 years customized solutions and client service of the highest quality to solve the complex needs of wealthy individuals and their families around the world. With assets under management of $1.25 trillion, it is one of the largest asset and wealth managers in the world.
Introduction to Role
The global focus on Anti Money Laundering (AML) and Know Your Client (KYC) is increasing and leading to new roles and opportunities within JP Morgan. Wealth Management is establishing a market-leading function to help manage the regulatory risks involved in onboarding clients with special attention to meeting the regulatory AML and KYC requirements. This is a great opportunity for the right individuals to work in a fast paced dynamic team and to help identify and establish best practices within JP Morgan and the industry.
The Executive Director will be the location site lead for a group of Onboarding Officers and QC Teams responsible for all aspects of client onboarding to include the fulfillment of Anti Money Laundering (AML) and Know Your Client (KYC) requirements. The Client Onboarding Officer will partner with the client-facing teams to ensure all client KYC records are compliant with regulatory standards, and will ensure high quality and timely completion of all client-level due diligence requirements at the onset and renewal of client relationships. To be successful, the selected candidate must have a strong background in leadership management disciplines, relevant operations experience and people management. The candidate must have a proven track record of effective leadership relative to change management and process re-engineering. The incumbent will be responsible and accountable for the development of the people and Operating model while driving initiatives to enhance the client experience and improving consistency across the different teams.
The successful candidate will drive issue resolution, collaborate with internal and external stakeholders to execute consistently on deliverables and communicate status updates and strategic direction to community. The incumbent will also be accountable for building and leveraging a network of partners in the Wealth Management to drive the overall success of the Client Onboarding model.
- A strong sense of ownership and responsibility
- Drives results through leadership, people, communication and influence
- Comfortable with change, ambiguity, debate, conflict and informed risk taking
- Multi-tasker who can manage multiple streams of work concurrently
- Willingness to make decisions, while ensuring buy in from stakeholders.
- Ability to challenge and influence stakeholders to ensure decisions are well thought out and can be executed from an operations perspective
- Site location lead for Chicago location managing in excess of 70 or more employees
- Partnering with the client facing teams to collect required legal documents and associated information to meet all regulatory and internal polices
- Clear understanding of required legal documents and process to onboard a client to Wealth Management platforms
Partnering with the different teams in each of the locations to ensure consistency of product and process
- Maintain a governance and reporting structure to ensure objectives are clearly defined, deliverables are documented with associated metrics to measure output and all team members remain engaged and on track with target deadlines
- Manage and facilitate client due diligence teams, including coordinating the participation of JPMorgan stakeholders who have KYC responsibilities
- Serve as senior escalation point of contact for KYC and reporting issues for designated clients
- Serve as the senior point of contact for KYC due diligence teams and QC Teams
- Act as a subject matter resource on the KYC/AML policies and procedures
- Participate in annual AML discussions with clients as needed
- Discuss and escalate with Compliance complex issues surrounding client types and structures, financial products and services, and other AML risk-related issues
- BS/BA Degree - Accounting, Finance, or Business preferred or equivalent military experience
- Series 99 or equivalent (COE- within first 120 days)
- 7 to 10+ years of experience with in a financial services, operational or compliance fields
- Experience in Operations management with a proven track record
- Prior experience in AML / KYC a plus
- A "can do" attitude is a must with a passion for driving best practices
- Strong written and oral communication skills
- Ability to communicate clearly and confidently; able to influence internal and external stakeholders
- Ability to successfully navigate a complex infrastructure that involves numerous groups and individuals
- Consultative in approach, understanding and anticipating business partner needs and proactively delivering solutions.
- Ability to directly address conflicts and escalate issues where appropriate.
- Proficient with technology and systems and capable of applying knowledge to operations and understanding the overall infrastructure and business implications.
- Continuous improvement and change management mindset, questioning conventional ways of managing the business and driving change to improve processes.
- Proactive control and risk management, addressing gaps in processes and escalating issues to benefit the business and clients in a dynamic environment.
- Drives strategic and tactical plans, including automation and process reengineering initiatives, with an ability to anticipate and overcome barriers. Takes the business to the next level.
- Drives critical thinking and proactively seeks out best practices, anticipates clients’ future needs and collaborates on ideas with others. Understands clients’ needs and impact on relationship across J.P. Morgan.
- Proactive and responsive communicator, maintaining frequent contact with business partners, listening to understand needs, and taking ownership of incoming and outgoing messages.
- Inspires and motivates others by understanding business drivers, developing and articulating the value proposition, challenging the status quo, and modelling desired behaviors and outcomes.
- Resource and talent management, aligning the right resources to clients and initiatives and allocating work efficiently. Acquires and develops talent for the organization and enables others on team to develop strong relationships and follow best practices.
- Manages performance, aggressively developing skills, capabilities and successors. Provides real-time feedback to the team and fulfills performance management commitments.