11 days old

CIB F&BM - Credit Portfolio Group Product Controller - Vice President

JPMorgan Chase & Co.
Brooklyn, NY 11201
  • Job Code

CIB F&BM - Credit Portfolio Group Product Controller - Vice President

Req #: 190107791
Location: Brooklyn, NY, US
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 5000 US Dollar (USD)

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.

Controllers within the IB Finance & Business Management organization are responsible for ensuring the overall integrity and validity of the financial statements and controls over the transaction cycle, performing critical reporting functions for the organization including financial and regulatory, product valuation, improving ongoing processes and ensuring execution and implementation of the overall financial architecture.

Job Description

Credit Portfolio Group (CPG) is one of the key product control groups within the CIB and is mandated to actively manage the Investment Bank’s retained credit exposures resulting from traditional lending and derivatives activities.  Specifically, CPG is responsible for developing and executing strategies with the primary goals of reducing credit risk concentration and losses from credit events, as well as aiming to increase the capacity for future business.  A major component of these responsibilities is to manage the credit and associated market risk of derivative counterparty exposures. This entails risk position analysis for a number of separate markets, and executing a coherent strategy across them.

The successful candidate in CIB’s Controller team will have product control responsibilities for CVA (credit valuation adjustment - which is essentially marking to market JPM's derivative receivables to reflect the counterparty's creditworthiness) and FVA (funding valuation adjustment - a bank-wide initiative in early 2014 to incorporate cost of funding in valuation). The CVA product controller will ultimately be looked at as a subject matter expert and will be responsible for:

  • Producing P/L analytics, Business control functions, CPG External Reporting, and critical control reconciliations.
  • Daily review/analysis of CVA results for specific CVA books and associated hedges providing substantiation for the material drivers of CVA balance changes.
  • Understanding fundamental concepts of CPG such as Derivative products and Risk Management.
  • Performing various reporting metrics to provide visibility into CVA/FVA trends and regularly tracking its Activity.
  • Contributing to existing work streams and enhancing relationships between lines of businesses within CIB.
  • Identifying & correcting system shortcomings by providing input to technology team during design, buildout, and testing.

Qualifications/Skill requirements

  • 6+ years of finance/accounting experience
  • Must have experience managing a team
  • Self-starter, motivated individual able to work independently with changing levels of work load throughout the month.
  • Technical, analytical and quantitative aptitude.
  • Strong communication skills with the ability to interact with front office, middle office and financial control stakeholders.
  • Demonstrated track record of process and controls improvement.
  • Knowledge of derivative products from prior experience of working in P&L, Risk (Product Control) or trade support function is beneficial.
  • Some knowledge of GL Hierarchy and Financial Reporting is advantageous.

Keyword: consumer%20banking


Posted: 2019-12-03 Expires: 2020-01-02

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CIB F&BM - Credit Portfolio Group Product Controller - Vice President

JPMorgan Chase & Co.
Brooklyn, NY 11201

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