Wealth Management Credit Risk - Derivatives Subject Matter Expert

Job Description

As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class. It is a firmwide priority to enhance our Counterparty Credit Risk framework and within Private Bank to develop and oversee a derivatives center of excellence to extend, centralize, and strengthen our risk coverage of derivative trading products. The candidate will play an integral role in these programs and will also have the opportunity to help manage credit relationships for a diverse portfolio of clients and products in addition to derivatives including securities-based lending, structured lending / specialty lending, and mortgages. Responsibilities
• Manage and contribute to Wholesale and Private Bank projects around key counterparty and derivatives credit risk initiatives and technical enhancements
• Act as subject matter expert on counterparty credit risk exposure for the Private Bank, with a primary focus on derivatives (across all asset classes) to help guide methodology and policy updates and provide advice to other Credit Officers and front office teams (GPB Solutions, Investment Specialists, Lending Specialists, Client Advisors/Bankers)
• Partner with and provide credible challenge to front office teams on the development and roll out of counterparty risk and derivatives trading framework enhancements where risk expertise is required
• Contribute end-to-end to the credit decision process for WM clients with active trading relationships by overseeing initial derivatives document negotiations, underwriting/limit setting, trade execution approvals, and ongoing monitoring processes including annual reviews, margin call management, and overlimit management
• Responsible for the accurate, timely and consistent assignment of risk ratings for clients and collateral
• Ensure all credit exposure structured, documented and approved in accordance with J.P. Morgan Credit Policy
• Monitor all exception reports produced by Credit Middle Office, work with integrated team to understand issues, approve resolution plans and escalate potential problems immediately
• Identify names promptly to be added to the Watch List or Criticized and Classified loans
• Work closely with all other control functions and understand the potential impact on the credit portfolio of other types of risk e.g., Market, Liquidity, Operating, Reputation, etc.
• Establish contacts with other LOB credit teams, as necessary
• Identify and escalate gaps or inconsistencies in policies and procedures which may impact the credit risk portfolio
• Play lead role in supervising the quality of the credit risk portfolio
• Approve credit transactions and risk ratings within authority
• Identify and monitor concentrations, trends and themes in the portfolio
• Partner with the Business in developing products, markets, revenue by:
  • Setting credit risk appetite
  • Ensuring we have appropriate tax and legal opinions, and collateral confidence, in new initiatives
Minimum Skills, Experience and Qualifications We are looking for someone excited to join our organization. If you meet the minimum requirements below, you are encouraged to apply to be considered for this role.
• Bachelors degree (or equivalent) in Economics, Accounting, Finance or Business Management
• Significant relevant experience (minimum of three years) of credit risk management or a related discipline in a top tier banking environment, preferably with counterparty credit risk experience
• Strong decision-making capabilities and the ability to identify problems and propose solutions
• Ability to operate independently with confidence to interact credibly with senior business stakeholders
• A thought leader who can innovate around challenges and bring idea generation to the team
• Outstanding attention to detail and ability to learn complex processes that affect various functions and business units within Credit Risk Management
• A team player who collaborates effectively on tasks and issues, and is able to influence others
• Highly organized, motivated, and hard working with exceptional communication skills, both written and verbal
Additional Skills, Experience and Qualifications The following additional items will be considered but are not required for this role
• Strong all-round knowledge of derivatives products across asset classes and understanding of key risk drivers within these asset classes
• Prior experience negotiating derivatives documentation (ISDAs, CSAs etc.) and familiarity with derivatives margining, collateral and netting confidence, and derivatives exposure measurement is desirable
• A thought leader who can innovate around challenges and bring idea generation to the team
About Us Across JPMorgan Chase, we serve millions of customers and many of the world s most prominent corporate and government clients. Our mission is to build a stronger, more equitable economy, and we strive to make a positive impact everyday with our customers in their communities. We are proud of our reputation as one of the world s most admired companies and we know that it s our people who make us successful. We are committed to a diverse and inclusive workplace where our employees are welcomed, valued and able to bring their authentic selves and best work forward.,

Keyskills :
slareportingcustomer relationscenter of excellencequalitysmecredit risk management