24 days old

Corporate Insurance Services Business Analyst

Plano, TX 75074
  • Job Code
    190054342

Corporate Insurance Services Business Analyst

Req #: 190054342
Location: Plano, TX, US
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 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.   Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

 

Corporate Insurance Services (CIS) is part of the Chief Administrative Office and is responsible for negotiating, structuring and administering worldwide insurance programs for JPMorgan Chase & Co.’s businesses and operations.  This includes managing a captive insurance company, claims, loss control and contract reviews.

Job Description

Detailed oriented Business Analyst responsible for the production and reporting needs of the firm’s Corp. Insurance Services department (CIS).  Responsibilities include the timely and accurate input of data into the firm’s many systems of record (JPMC I.T. Applications and/or department Excel spreadsheets) in order to facilitate the business and production needs of the CIS department.  Additional responsibilities will include the timely and accurate reporting of information to senior insurance management and other key stakeholders in order to help facilitate decision making.  The role will also require the candidate to proactively escalate issues to management when appropriate.  Key stakeholders the candidate will be expected to support and/or collaborate with are the department’s Insurance Placement and Claims Management Teams, Corp. Technology, Third Party Oversight, Accounts Payable, Sourcing & Procurement, Control Management, Corporate Controllers, Global Risk and CIS’s many third party suppliers.

Job responsibilities include the following:

  • Business Production

    • Submit funds transfer requests for the department’s intercompany cash needs through the firm’s Cash Services Financial Control systems. 

    • Create and manage purchase orders and insure adequate financial approval has been obtained from senior management. 

    • Create and maintain electronic records of the department’s third party supplier engagements.      

    • Update and maintain accurate records within the department’s Risk Management Information System (RMIS) related to the placement of JPMorgan Chase’s insurance policies.

    • Submit documentation obtained from third party suppliers evidencing the remediation of action plans into JPMC application systems.

    • Process invoices related to the purchase of insurance premiums, paid losses and administrative expenses through the firm’s Ariba expense management tool.

    • Process bank checks received in a secure, accurate and timely manner.

    • Research and mitigate any issues that arise from the department’s operations as appropriate; e.g., rejected invoices, checks in-process, missing payments, etc.

       
  • Reporting
    • Report and/or escalate when necessary the adequacy of third party insurance carrier ratings; e.g., AM Best, Moody’s, Fitch and S&P.

    • Report on the status of remediation efforts concerning open action plans put in place to address deficiencies identified at third party suppliers. 

    • Report to senior management the status of assessments being performed on the department’s third party suppliers.

    • Upload data related to the department’s investments into the firm’s market risk database for stress testing purposes.

    • Update and distribute management reports on a periodic basis (weekly, monthly and quarterly) in an accurate and timely manner.

    • Maintain outstanding items list for use during senior management meetings.

    • Report the status of parental guarantees issued by JPMorgan Chase & Co.

    • Report to management the adequacy of cash escrow accounts.

    • Monitor the status and recertify when appropriate the department’s risk acceptances identified for all third party supplier relationships. 

    • Collaborate with JPMC Control Management on the accurate and timely reporting of control metrics reported in the firm’s control forums.

    • Collect various source documents and compile them into clear and concise reporting packages for the insurance department management team’s use.

    • Report key information pertaining to the firm’s insurance for Resolution & Recovery purposes.

    • Gather and provide source documents and other evidence to Control Management, Compliance and/or Internal Audit when requested.

       
  • General Management & Other Functions
    • Collaborate with Corp. Technology to insure that the department’s use of technology complies with firm wide technology standards; e.g., user access, user entitlements, etc.

    • Manage JPMC’s collateral needs through the placement of letter of credits obtained through third party commercial banks.

    • Maintain the integrity of the insurance department’s Risk Management Information System (RMIS) including:

      • Maintaining insurance policy records and documents.

      • Updating commercial insurance carrier metrics; e.g., ratings, economic surplus, insurance carrier names, etc.

      • Directly manage the supplier relationship with the RMIS hosting company which includes the negotiation of the service level agreement, conducting monthly management reviews, etc. 

    • Organize and help management prepare for meetings with key stakeholders; e.g., scheduling meetings, preparing agendas, taking meeting minutes, monitoring the follow-up and closure of takeaways, etc.

    • Assist management with the preparation and editing of Power Point presentations.

    • Assist management in addressing firm wide project requirements as they arise.

    • Review and escalate to management when appropriate aging tables related to the department’s debit invoices.

    • Manage and be the department’s subject matter expert of the department’s inventory of written procedures including editing and submitting for approval revised procedure language. 

    • Manage the department’s archived records stored at Iron Mountain.  Insure that records are appropriately destroyed based on firm wide record retention policies. 

    • Become familiar with firm wide policies and procedures and insure the department is following the company’s established standards.

    • Manage to successful and timely completion action plans put in place to remediate deficiencies related to CIS’s suppliers’ business controls.  

    • Periodically update JPM Compliance Dept. Third Party Intermediator database for completeness.


  • Qualifications
    • Bachelor’s Degree (business concentration preferred).

    • 2 to 3 years of professional experience (financial services industry is a plus).

    • Demonstrated track record of working in team environments in a collaborative, efficient and effective manner. 

    • Ability to work independently with little day to day supervision.

    • Possesses the ability to work well with others and influence change in a cross functional environment. 

    • Demonstrated sense of urgency.

    • Strong working knowledge of Microsoft Excel and PowerPoint. 

    • Possesses the ability to quickly learn the functionality of internal JPMC applications. 



Keyword: consumer%20banking

Categories

Posted: 2019-07-25 Expires: 2019-08-24

For over 200 years, JPMorgan Chase & Co has provided innovative financial solutions for consumers, small businesses, corporations, governments and institutions around the world.

Today, we're a leading global financial services firm with operations servicing clients in more than 100 countries.

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Corporate Insurance Services Business Analyst

JPMorgan Chase & Co.
Plano, TX 75074

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