CIB GF&BM UK Legal Entity Control – Regulatory Deliverables & Initiatives - Associate
Legal Entity Controllers within CIB GF&BM have primary responsibility for financial reporting and ensuring financial integrity within all Corporate & Investment Bank UK based legal entities, as well as ensuring a strong control environment exists as it relates to all businesses, products and operational areas that impact the UK financial accounts. They are responsible for standalone US Regulatory Reporting as well as preparation and filing of local statutory accounts to Companies House.
As part of the UK LEC Regulatory & Initiatives team, we are responsible for regulatory deliverables impacting the UK Legal Entities such as firm-wide and local Recovery and Resolution (R&R), ICAAP, JPM Securities plc Solvent Wind Down. The team supports the EMEA Regional Controller will specific regulatory requests, such as Booking Model Deliverables.
The team is responsible for planning, managing and ensuring quality control execution of Recovery & Resolution content and deliverables. The role is responsible for a variety of day-to-day activities in support of the development and ongoing maintenance of firm-wide Resolution Plan.
The Dodd-Frank Act requires large, systemically important financial institutions such as JPMorgan Chase to submit Board-approved Recovery & Resolution Plans ("RRPs"; a.k.a. Living Wills) to US regulators biennially. Recovery Plans need to demonstrate how the firm would recover if the firm were to experience significant decreases in capital and liquidity as a result of a severe, crisis event. Resolution Plans need to demonstrate how JPM would be resolved in an orderly way (i.e., without causing a major market disruption), if the company ever became bankrupt. These plans are a strategic priority for the firm as failure to produce comprehensive, credible plans could lead to more stringent capital, leverage or liquidity requirements, and ultimately, to possible firm-wide structural/organizational changes.
· Act as point of contact for UK R&R matters
· Effective partnership with LECs and relevant SMEs to complete the Resolution deliverables, including Plan narrative documentation, pro forma analysis etc
· Liaise with Global / Regional R&R teams to ensure appropriate operating model for any new/change request for appendix review process
· Perform firm-wide BAU Resolution Appendix Data quality assurance reviews, and perform periodic risk-based control assessments
· Embrace a control focused culture and confidence in challenging all stakeholders, as well as the implementation of firm-wide / global R&R standards and processes
· Work autonomously and demonstrate the ability to work as a controller and partner with multiple stakeholders across the Bank (e.g. Product Control, Firmwide Financial Control, R&R teams (both Firmwide and EMEA), LEC controllers, Compliance, Operations, Business Managers)
· For other regulatory requests, effectively structure and coordinate the project deliverable in order to meet project objectives / milestones and timeline
· Develop a strong understanding of the business and activities in the UK legal entities
· Work on other regulatory deliverables such as ICAAP, JPM Securities Plc Solvent Winddown
SKILLS, KNOWLEDGE & EXPERIENCE
· Qualified accountant with at least 2-3 years PQE in finance and/or project management
· Excellent communication and organisational skills, in order to deliver structured, concise and logical communication
· Build effective partnerships and influencing skills, to achieve critical and time pressured deliverables with multiple stakeholders, whilst maintaining a high level of accuracy and quality
· Diverse product knowledge, with an ability to develop an understanding of new products.
· Able to work under pressure and multi-task
· Work proactively and independently as well as in a team environment
· Strong interpersonal skills and the ability to work collaboratively; develop strong partnerships with all levels of employees
· Strong qualitative analytical skills with attention to details and problem solving skills
· Control focus and mindset at all times, whilst respectively challenging the status quo
· Strong knowledge of Microsoft Excel, PowerPoint and Word
· Basic knowledge of accounting and ledger systems preferred