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CIB F&BM NA Equity Financing - Securities Borrow and Loan - Product Controller – Analyst

Req #: 170124215
Location: New York, NY, US
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 0 US Dollar (USD)
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at
The Corporate & Investment Bank (CIB) Finance and Business Management (F&BM) group provides financial advice to support the CIB’s business strategy and helps to ensure a sound control environment. Within F&BM, the four major areas of responsibility are: Business-aligned BMs (Business Managers), the CIB Controller, Support Staff CFO, and Planning and Analysis.
General Summary
The Firm’s Securities Prime Brokerage and Financing business (the “business”) is part of the Corporate and Investment Bank’s Investor Services business.  The business offers flexible financing to clients in either physical form or through synthetic products and with its ability to borrow and lend securities (stock loan) also allows clients to create short exposure.  A further role of the financing business is to provide the wider Equities and Investor Services businesses with both short term and long term secured funding.
The NA Securities Prime Brokerage and Financing Product Control Team (the “team”), within Investor Services Finance & Business Management, is primarily responsible for the independent production, review and approval of the daily P&L ensuring the accuracy and completeness of business revenues.  Other responsibilities include supporting the business on the wider financial aspects of their activities such as balance sheet and capital, advising on accounting, regulatory and booking issues, participation in the new product approval process and overall signoff of the business’s financial statements including regulatory returns.
The Equity Finance business provides secured financing to both clients and the wider trading businesses of the CIB.  The products traded by the business include: stock borrow loan, repos, equity swaps, options and futures.
Role Description:
Successful candidate will be responsible for covering the Securities Borrow and Loan (SBL) business, performing the following functions:
  • P&L – complete and accurate independent production of the daily P&L calculations, reconciliation of actual vs front office flash estimates, resolution of P&L discrepancies, variance analysis, commentary on key drivers of business performance
  • Balance Sheet reporting – daily and monthly validation, adjustments to inaccurate balances, forecasting, and commentary on financial results.
  • Month end close – manage process to ensure final results are as forecasted
  • Prepare monthly financials review pack for presentation with Front Office
  • Review current processes, identify control weaknesses and deliver solutions to enhance the current control environment in order to be compliant with the Product Control Minimum Standards.
  • Work with the business on new products and processes to ensure financial and regulatory accounting will be correctly handled.
  • Perform and respond to ad-hoc queries and requests from various stakeholders
  • Participate in the testing of tactical and strategic product enhancements and system flow amendments.
  • Line of business Product Control experience preferred
  • Strong desktop skills and Microsoft Office knowledge (Excel, Word, Powerpoint, Access)
  • Strong accounting background highly preferred
  • Very strong analytical skills and attention to detail
  • Control/efficiency mindset and drive to challenge and change
  • Ability to multitask and prioritize effectively
  • Good written and verbal communication skills
  • Effective team player and self-starter
  • Bachelor's Degree or equivalent
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