AWM - Wealth Management - Underwriting Associate

Job Description

DescriptionJ.P. Morgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing and asset management.About J.P. Morgan Asset and Wealth ManagementJ.P. Morgan Asset and Wealth Management is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits. Our BusinessWealth Management Mortgage Operations supports the J.P. Morgan Private Bank within J.P. Morgan s Asset and Wealth Management line of business. The Private Bank is the world s premier service provider for ultra and high net worth individuals. Our goal is to help these affluent individuals across the globe optimize their wealth, after taxes and across generations. Mortgage Operations provides end to end mortgage origination for Private Banking clients with unique needs. Our loans are generally complex transactions due to the financial diversity and sophistication of the client base. Our clients expect the highest levels of quality service throughout the process, resulting in an exceptional client experience.MINIMUM REQUIREMENTSMinimum QualificationsBachelor s degree in Commerce or SciencePost Graduate in Finance, Well versed with Financial & Banking Concepts and Residential Loan Life Cycle.Minimum Experience7+ year of total experience in US Mortgage Originations preferably with Jumbo Loans.3 to 5 years people management / supervisory experience Technical SkillsDeep understanding of all stages of Mortgage Originations.Deep Understanding & experience of Underwriting conceptsProficiency in all US Mortgage Origination Documents.Excellent knowledge of US Mortgage Concepts & Ratios.Working knowledge of major US Mortgage Regulations.Good MS Office skills. Experience in MIS generation, distribution and data analysis & knowledge quality tools.Must have had exposure to production management, work allocation, prioritization, exception handling, and process documentation.PURPOSE

• This team supports the JP Morgan Private Banking Mortgage Origination business.
• The team is responsible for the validation of loan underwriting by the Mortgage Underwriting team and ensure the loan confirm to the internal Credit policy.
• The loans belong to Private Banking HNW and UHNW clients.
• The functions performed by this team are critical to mortgage origination business.
• Individuals may work directly with Mortgage loan originators; US based operations group and other internal/external partners throughout the Mortgage origination life cycle Supported functions.

KEY PERFORMANCE AREAS

1. Achieve daily production targets on a consistent basis and turnaround Priority reviews within the stipulated timelines.
2. Maintain over 99.5% internal and 100% external accuracy on a consistent basis.
3. Get cross-trained and work on multiple processes.
4. Maintain high hygiene standards and follow all process controls with no lapses.
5. Assist in data collection / report preparation on various metrics.
6. Identify & escalate issues on assigned reviews and escalate exceptions, procedure gaps to management.
7. Interact with different stakeholder to resolve process issues and play key role in adding process controls.
8. Processing/ Production -90% of the daily productive time, 10% - Non BAU activities, Business initiatives, process reporting, process trainings/ huddles
9. Suggest process enhancements, possible automations for better controls, perform periodic risk and controls analysis with the team for process risk valuation

KEY COMPETENCIES ESSENTIAL FOR THE JOB

1. Excellent Communication Skills.
2. Good Analytical skills with an attention to detail, Quick Grasping and Retention.
3. Coordination and Team work
4. Time Management, Flexibility & Adaptability to changes.
5. Willingness to work in US, ASIA & EMEA shifts.
6. Exception Handling & Subject Matter Expertise, Challenges status quo.

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Keyskills :
ms officeprivate bankdata collectiondata analysisdaily productionmoney marketus mortgagemis generationquick graspingprivate bankingfixed incomelife cyclesmall businesssubject matter expertise