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Wealth Management - Credit Middle Office Quality Control (QC) Hedge Fund Covenant Setup Review, Analyst

Req #: 180001232
Location: Westerville, OH, US
Job Category: Operations
Potential Referral Amount: 0 US Dollar (USD)
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.
 
Our Business:
Global Wealth Management Operations supports the JPMorgan Private Bank in JP Morgan’s Asset Management line of business. The Private Bank is the world’s premier service provider for ultra and high net worth individuals.  Our goal is to help these affluent individuals across the globe optimize their wealth, after taxes and across generations.  Global Wealth Management Operations provides end-to-end support for all aspects of the client experience, working closely with client service, fiduciary, product specialty groups, third party vendors and other internal groups.
 
Position Summary: 
The Private Banking (PB) Credit Middle Office (CMO) Quality Control (QC) Team is a dedicated team of specialists focused on ensuring the quality of operational aspects of credit transactions. The QC Team is responsible for ensuring adherence to policy and procedures and maintaining the highest standard of quality for our processes, ensuring the positive client experience and mitigating risk for the bank.  The QC Team is a critical part of safeguarding the business by reviewing information on file, and newly prepared loan documentation.  The successful Analyst exercises sound and independent judgment, has a willingness to take on projects to meet business goals, and takes ownership of tasks with a sense of urgency.
 
This position is specifically aligned to Covenant Risk Monitoring.  Covenant Risk Monitoring is part of the Private Bank Global Wealth Management Credit Middle Office operations team and is currently responsible for managing and monitoring financial covenants and related tasks for HNW and UHNW Domestic, Latin America and EMAP NY portfolios.  The functions performed by this team are critical to protecting the bank from potential credit losses, and are in scope for Quality Control.
 
The Hedge Fund Covenant Set-Up QC Analyst will demonstrate attention to detail while performing thorough reviews of non-standard Hedge Fund covenants as established by Covenant Risk Monitoring in the Commercial Loan Agreement Servicing System (CLASS).  Success will also require sound and independent judgment, a willingness to take on projects to meet business goals, and a sense of urgency in the ownership of tasks.
 
The Analyst would have the following responsibilities:
  • Review and understand credit requests and evaluate credit approval details, loan documentation, and covenant requirements of loan transactions. 
  • Review and understand credit agreement terms after financial analysis and credit approval (review of Credit Approval Memorandums, in partnership with Credit Risk).
  • Analyze credit transaction requirements and the entry of those requirements that will be systematically monitored and managed.
  • Review and validate all Hedge Fund covenants including FIV/NAV/AUM reduction are accurately captured and established in CLASS.     
  • Provide timely feedback regarding missing or inaccurate data elements for resolution.
  • Partner closely with other Credit Middle Office Teams and Management to solution for accuracy. 
  • Prioritize reviews in a fast-paced production environment to meet expected turnaround timeframe.
  • Manage initiatives to resolve control gaps and enhance current processes for further efficiency and effectiveness as needed.
Skills and Experience Required:
  • BA/BS or equivalent; Finance/Economics strongly preferred; MBA a plus.
  • Minimum of 3 years working in a legal, credit administration, operations, or support group within the Financial Services industry; knowledge of bank systems and loan/credit operations strongly preferred.
  • Develop or have strong understanding of the Covenant Monitoring Process, for which QC is providing the oversight for accuracy.
  • High level of proficiency in organizing, priority-setting, and issues management
  • Relationship management and interpersonal skill, especially with business partners
  • Excellent verbal and written communication skills
  • Strong critical thinking skills 
  • Ability to review processes and recommend process improvements
  • Understanding of controls and their importance across process lifecycle and the business operating model 
  • Creative problem solving
  • Ability to positively influence change and maintain a positive change management environment
  • Strong teamwork approach
  • Strong pro-active individual initiative
  • Must be self-motivated and able to work independently
  • Must be a results-oriented team player
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