Global Market Infrastructure – MIO (Market Infrastructure Oversight) Associate - Bournemouth

Job description

J.P. Morgan’s Global Market Infrastructures (GMI) is a global function within the Chief Administration Office (CIB), responsible for managing the Firm’s network of critical third party providers to meet the Firm’s requirements for global cash and securities services for its proprietary and client activities. These critical providers include Financial Market Infrastructures (Payment Systems, Central Counterparties, Securities Depositories and Cheque Clearing Systems) and Agent Banks (cash correspondent banks and securities depositories).

GMI leverage the standards of the Firm’s Third Party Oversight (TPO) program to select, maintain and exit Financial Market Infrastructures (FMIs) and Agent Banks in scope, thereby meeting the Firm’s regulatory requirement to manage critical third parties as well as the Firm’s standards and client expectations. In doing so, we support and work closely with all the Lines of Business (LOBs) across the Firm.

Within GMI, the Market and Infrastructures Management (MIM)  team is responsible to manage the various aspects of the Firm’s membership and relationship with FMIs and Agent Banks, meet the TPO requirements, assess the underlying risks, ensure we meet all regulatory requirements, and manage our spend. The MIM team is also responsible to understand the markets covered, track and evaluate market developments, lead and participate in market or industry discussions to represent the interests of the various LOBs and their clients.

The Third Party Oversight team works in partnership with the Market Managers (MIM) to execute on the TPO and other risk management requirements for FMIs and Agent Banks. The team also works closely with the Network Service Management (NSM) team in the areas of performance management, regulatory reporting and audit.

The MIO officer is responsible for a portfolio of FMIs and Agents across several markets as well as for specific activities across all markets. 

 Roles and Responsibilities

The key responsibilities of a MIO Controls Officer in MIO will include, but are not limited to;
·  Due Diligence Standards – Work closely with relevant Network Market managers, Network Service Managers and internal Business partners (LOB’s) for the APAC region to deliver on the Agent Bank/FMI alternate Third Party Oversight program. Including –
·  Participation in pre and post in country visit meetings, to discuss agent requirements and TPO Gaps.
·  Participation in the agent bank scorecard process
·  Management of the Risk Assessment process
·  Centralised Vendor Management & Support –Generation of TPO questionnaire to FMI/Agent Bank population, chasing/escalation & primary assessment of responses. Including –
·  Technology, Sanctions, Know Your Agent, Due Diligence Questionnaire
·  Management & Regulatory Reporting Standards – Partner with the wider TPO team in the generation of MIS on the Agent bank/FMI Third Party Oversight Process. Including
·  Participation in the Monthly NMM Control forum
·  Generation of APAC region metrics.
·  Participation in the TPO Control testing process.
·  Participation in weekly/Bi Weekly TPO team meetings
·  Audit Requests Co-ordination – Partner with TPO Coordinator to deliver documentary evidence of completed processes and associated controls and standards 
Requirements

 Essential skills, knowledge and experience:
·  Experience in the financial services industry and knowledge of the transaction banking services (cash and/or securities)
·  Organized, methodical and analytical in approach
·  Ability to multi-task and manage projects
·  Clear and concise written communication skills
·  A self-motivator who is able to question and think critically
·  A team player with strong interpersonal skills and ability to interact effectively with peers and management, and with FMIs and Agents
·  Strong working knowledge of MS office suite,  in particular Excel and PowerPoint