AWM Wealth Management Operational Risk Management WM Associate Luxembourg
About J.P. Morgan
JPMorgan Chase is one of the oldest financial institutions in the United States with a history dating back over 200 years.
We are a leading global financial services firm with assets of $2.4 trillion operating in more than 60 countries. We have 260,000 employees serving millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients.
We are a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity.
We have fiduciary assets under supervision and assets under management / custody of over $4.1trillion combined and are one of the largest asset and wealth managers in the world.
About Compliance, Conduct and Operational Risk
Operational Risk Management is part of Compliance, Conduct and Operational Risk (CCOR), within the Risk Management and Compliance organization.
CCOR maintains oversight of the firm’s compliance, conduct and operational risk management activities and are responsible for the design and execution of the CCOR program, which consists of the second line of defense’s responsibilities in managing the firm’s compliance, conduct, and operational risk.
Our organization is focused on cultivating a stronger, unified culture that embraces a sense of personal accountability for developing the highest corporate standards in governance and controls across the firm.
Business priorities are built around the need to strengthen and guard the firm from the many risks we face, financial rigor, risk discipline, fostering a transparent culture and doing the right thing in every situation.
We are equally focused on nurturing talent, respecting the diverse experiences that our team of professionals brings and embracing an inclusive environment.
The successful candidate will join a small team of risk professionals from a diverse range of backgrounds and experience who collectively ensure that the Firm’s Operational Risk Management Framework is implemented and functions effectively within Wealth Management.
Govern : CCOR in the second line of defense establishes policies and standards which set forth the requirements for the LOBs and Corporate Functions regarding the management of operational risk and enables oversight and independent assessment over operational risks inherent within the firm’s activities.
Identify : The LOBs and Corporate Functions have primary responsibility for the identification of the operational risks inherent within their day-to-day business activities, consistent with standards established by CCOR.
CCOR provides oversight and independent assessment of the risks identified by the LOBs and Corporate Functions and, where appropriate, escalates any new or emerging risks or issues.
Measure : CCOR independently assesses operational risks through quantitative and qualitative means. CCOR’s independent assessment identifies risk drivers that may impact operational risk activities and the controls to help mitigate such risks.
Monitor & Test : CCOR uses the results of risk assessments to identify heightened areas of operational risk to independently monitor the risks and test the effectiveness of controls within the LOBs and Corporate Functions.
CCOR utilizes key risk indicators (KRIs), key performance indicators (KPIs), and other metrics to periodically identify areas where incremental monitoring and / or testing may be needed.
Manage : CCOR informs the firm of operational risk levels and provides associated second line of defense support to all areas of the firm (except Audit).
These activities include raising issues for the first line of defense to remediate through action plans and reviewing KRI and KPI thresholds.
CCOR leverages a centralized strategy for metrics and dashboard reporting to support these activities.
Report : CCOR reports on the results of its activities to the LOBs and Corporate Functions including changes in risk assessments, results of monitoring and testing, and required corrective actions.
CCOR reports and escalates issues to the Directors’ Risk Policy Committee (DRPC) and senior management consistent with the firm’s escalation practices.
Business Specific Requirements
Promote and instill a strong culture of Operational Risk Management (ORM) and operational excellence, partner with the business to continually improve OR processes and business operating models supporting safe business growth and informing and influencing risk-based decision making
Review and credible challenge of business unit's documented operational risk processes and procedures
Oversee and assess risks associated with WM EMEA New Business Initiatives (NBI) and other change programs within the business and challenge the control environment within these programs
Help drive the development of regional and legal entity alignment of CCOR framework, including WM KRIs, Loss Data, Independent Risk Assessment (ISRA), and the ICAAP for WM Legal entities
Participate in WM risk identification and participate in relevant EMEA Control, change management initiatives, committees / Forums and escalate any new or emerging risks or issues (via CCOR flash, BCC scorecard, Material Risk Inventory)
Promote cross AWM / LOB consistency and adoption of best practices collaborating as necessary with respect to significant legal entity matters related to JPMorgan Bank Luxembourg
Minimum University / Bachelor’s Degree with at least 4 years of industry experience
Experience with risk management, product ownership, business management and operations, controls management, and Monitoring / Testing with an emphasis on the financial industry
Strategic thinker with strong analytical, problem solving and project management skills with successful track record of completion
Strong interpersonal and influencing skills and ability to drive change
Ability to multi-task, prioritize and thrive in a fast-paced and evolving environment
Passionate and capable of learning in a changing environment while delivering results
Detailed knowledge of Wealth Management will be an advantage as will previous Risk / Audit experience.
About J.P. Morgan Chase & Co :
J.P. Morgan serves one of the largest client franchises in the world. Our clients include corporations, institutional investors, hedge funds, governments and affluent individuals in more than 100 countries.
J.P. Morgan is part of JPMorgan Chase & Co. (NYSE : JPM), a leading global financial services firm with assets of $2.1 trillion.
The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.
A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of clients and consumers under its JPMorgan and Chase, and WaMu brands.
J.P. Morgan offers an exceptional benefits program and a highly competitive compensation package. J.P. Morgan is an Equal Opportunity Employer.