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.
Key Responsibilities include :
The successful candidate will join a 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 Asset & 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
Perform the Independent Second Line Risk Assessment (ISRA) for the Operational risks in the Private Bank at the global, regional and legal entity level using both qualitative and quantitative means.
Assist in developing targeted monitoring and testing activities designed using a risk-based approach leveraging the results from the CCOR ISRA
Perform deep dive reviews of areas of emerging risk or potential control gaps to identify issues for the business to remediate;
document and share analysis with business stakeholders entering issues and action plans firm’s system of record
Participate in relevant EMEA Control, change management initiatives. Identify and assess any new or emerging risks or issues, challenge the proposed control environment, and recommend approval (or not) of the change
Prepare materials for control committees / forums
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
Review and credible challenge of business unit's documented operational risk processes and procedures
Promote cross AWM / LOB consistency and adoption of best practices collaborating as necessary with respect to significant legal entity matters related to WM EMEA, Operations, including JPMBL.
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
Minimum University / Bachelor’s Degree with at least 7 years of industry experience
Knowledge of Wealth Management, including Operations, will be an advantage, through roles including within Operations, Business Management, Control Management, Risk, Compliance and Audit.
Experience with risk management, audit and operations, controls management, and Monitoring / Testing within the financial industry is a plus
Good communicator with strong analytical, problem solving and project management skills with successful track record of completion
Strong analytical skills and proven ability to identify potential process and control issues and develop and present solutions to key stakeholders
Self-motivated, driven and intellectually curious
Strong interpersonal and influencing skills and ability to embrace and 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