J.P. Morgan Bank Luxembourg S.A. (JPMBL) as a regulated Credit Institution provides a range of banking services to Private Clients, Banks, non-Bank Financial Institutions and corporate clients for the provision of Private Banking (PB), Depository, Investor Services and Transaction Services.
Compliance plays a critical role in the successful execution of the firm's compliance mission. The Compliance function ensures the development and maintenance of a strong compliance culture by developing and maintaining rules that govern our business globally.
Compliance teams work closely with business, legal, risk, and audit program infrastructure that identifies, measures and monitors compliance with applicable laws, regulations and functions to provide expertise on regulatory compliance matters, assess and measure compliance and related risks, and monitor and test the adequacy of the firm's compliance control environment.
Luxembourg Compliance team has the responsibility for oversight of the consistent implementation of Global policies and practices whilst ensuring regional and country nuances are adopted to take into account local law and regulation.
The person sought will form part of the growing Compliance team for JPMBL as well as support regional and global compliance initiatives and programs within the WM line of business and within the entity as necessary.
The role will include line of business advisory cover for PB personnel in Luxembourg, as well as the central European regulatory framework on branches and outsourcing as it relates to JPMBL’s PB activities.
The role will also include involvement in work associated with regulatory interaction associated with JPMBL PB, the delivery of specific responses to supervisory bodies and involvement of any relevant examination or deep dive activities, notably with the CSSF, ECB and CAA.
The role will necessarily require strong interaction with regional teams across the compliance framework, Regulatory Management and advisory teams to support consistency and ensure JPMBL considerations are adequately covered.
As J.P. Morgan continues to invest and grow the business the current opportunity will seek someone with a strong regulatory and compliance background to advise on core compliance obligations within the European regulatory framework, including but not limited to;
Job functions / responsibilities
The role will report to the JPMBL Head of Line of Business Compliance
Provide Compliance advice to support all areas of the PB business in particular but not limited to EU regulation and banking requirements (Governance, Outsourcing, and Data Privacy), Cross Border, Review of new products, Insurance, Conflicts & Fiduciary Risk;
Partner with Regional and Global Compliance function for to check for consistency and leverage best practices for the PB Business;
Keep abreast of regulatory and legislative changes and provide advice to enable the business to implement changes and operate in a compliant and controlled manner;
Review regulations and related regulatory mapping analyses, and work with divisional partners to advise the relevant owners on the development of policies and procedures within the legal entity and across other group legal entities as necessary;
Develop close working relationships within the bank and line business to engender a culture of compliance within the business;
Contribute to the performance of Compliance risk assessment, testing and monitoring program, and new business regulatory reviews and where necessary coordinate within the legal entity and across other group legal entities as necessary;
Advise on the content and quality of PB submissions to our regulators, taking action where necessary;
Taking a supporting role in day-to-day PB communications with regulators where necessary, supporting Regulatory Management and when needed act as the lead SME for the PB LOB on relevant regulatory examinations, reviews, information requests or other specific deliverables;
Advise on permissions, passporting and the interaction of Luxembourg and European regulatory regimes.
Strong background and experience in a banking or risk management environment, or financial services from a legal or regulatory perspective;
Good knowledge of key financial services regulation and EU regulations. Prudential regulatory experience preferred;
Previous experience in dealing with and maintaining relationships with the CSSF, ECB or European or Global regulators within a large and complex financial services firm or experience working at a relevant regulator;
Demonstrated experience in the financial services industry;
Proven knowledge of local and EU bank regulatory requirements (Governance, Outsourcing and Data Privacy) and ability to translate them into operational / process requirements;
Ability to consistently deliver high quality results on the local and firm-wide Compliance program;
Team player with strong interpersonal and influencing skill;
Self-motivated individual who is eager to learn more about the financial markets and regulation;
Positive professional and can-do attitude;
Ability to think, plan and execute on multiple projects simultaneously in an organized manner, prioritize, work under pressure and meet tight deadlines;
Strong command of English language skills combined with French and / or German language skills preferred;
Ability to summarize complex topics concisely and drive practical outcomes;
Strong judgement and the ability to exercise sound judgement under pressure when faced with imperfect information;
Evidence of working on the delivery of projects or implementing process change required.