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Company Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 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. Information about Company Chase & Co. is available at Company website.
Company is a global leader in asset and wealth management services. The Asset & Wealth Management line of business serves institutional, ultra-high net worth, high net worth and individual clients through its Asset Management and Wealth Management businesses. With client assets of $2.7 trillion and assets under management of $2.0 trillion, we are one of the largest asset and wealth managers in the world. (Assets as of December 31, 2018). 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.
The US Wealth Management (USWM), including Chase Wealth Management (CWM) & Intelligent Digital Solutions (IDS) Control team’s mission is to enable the proactive identification and timely remediation of risk by providing a framework, infrastructure and support system holistically encompassing the breadth and depth of risk across Asset & Wealth Management. We are responsible for the overall risk and control framework that incudes governance, regulatory response, risk mitigation, risk transformation and business intelligence. Our Business Control Officers have deep subject matter expertise, are embedded with the broader Business teams and work hub and spoke with the Business and other pillars of our risk and control team to help carry out the consistency of the framework while driving the continued evolution of a more advanced risk and control approach. We also partner with Operations, Technology and Business leadership to take the best of what we do, within and across LOBs, and drive deliberate cross-pollination, lessons learned, and drive control initiatives all to help drive risk reduction. We serve the broader organization in a collaborative fashion, with a mindset to “serve and protect” and ensure a “design for control” oriented approach in all that we do.
Control Management (CM) maintains a strong and consistent control environment across the firm. With Control Managers appointed for each Line of Business, Function and Region, there is a comprehensive coverage and joint accountability model with the business executive that promotes early operational risk identification and assessment, effective design and evaluation of controls and sustainable solutions to mitigate operational risk.
Control Management focuses on four areas:
1) Control design and expertise
2) Risks and controls identification/assessment
3) Control breaks and resolution
4) Control governance & reporting
The CWM Control Manager (CM) is a key member of USWM & IDS’s Risk & Control Team, providing leadership and day-to-day partnership with business units for execution of the CORE Program to ensure business risk is effectively mitigated. The CM will provide support for a proactive risk and control culture by leveraging business knowledge, assessment and evaluation strategies, and sound change management protocols. The successful execution of your responsibilities requires the ability to influence outcomes, partner, and effectively communicate across CCB, AWM and US WM control teams, business units, and support functions.
Provide confident leadership and sound judgment to influence a strong risk management culture across business practices
Create a proactive risk and control culture that leverages proven evaluation strategies and sound change management protocols
Provide leadership support for the end-to-end execution of CORE processes, including control breaks and resolutions, to reduce financial loss, regulatory exposure, and reputational risk
Engage with control colleagues across the firm, business, operations management, legal, compliance, risk, audit, regulators and technology control functions
Work with the USWM & IDS Control Managers on developing, enhancing, monitoring the risk and control and data framework
Identify risks as it relates to the remit of CWM and work with Risk Management business colleagues to assist in ensuring the Risks & Controls are known and to assist in the identification and/or development of controls to mitigate gaps
Participate and provide thought leadership in helping the various pillars to drive regulatory response, risk mitigation, risk transformation and risk intelligence efforts.
Develop and expand knowledge of Risk Management, its policies and procedures, banking and consumer regulations/laws, and Risk & Control practices in order to implement necessary enhancements to control activities and minimize risk
Compare policies, standards, procedures and controls across products for consistency and closure of any gaps
Review adherence to policies, standards and procedures and also ensuring that they the spirit of original governing entity’s obligation, and any changes to the governing entity’s expectations over time
Ensure operational practices are in compliance with relevant risk standards, policies and regulations to maintain an effective control environment
Work with senior leaders / business executives and other risk teams on key decisions and major risk and control initiatives
Perform walkthroughs and assist critical lines of business with process mapping and risk identification, designing the controls framework and testing the controls
Provide control related subject matter expertise for relevant projects driven inside and outside of the Control Management organization
Provide ongoing monitoring and assessment of operational risk and control environment
Conduct independent evaluation and oversee testing conducted by team members.
Assist in issue management workflow end-to-end, including root cause analysis
Identify and challenge meaningful metrics to inform on the health of the operational risk and control environment
Provide input to various control committees and forums
Liaise with upstream and downstream partners to review the control evidences for CORE and SOX
Drive and manage projects and initiatives on risk & controls (e.g. awareness programs, risk expos, trainings, etc.)
Maintain strong engagement across multiple stakeholders and collaborate with local, regional & global stakeholders and stay abreast on risk and control agendas
Participate and/or execute on risk and control based training initiatives
Manage and motivate a team in executing to reduce financial loss, regulatory exposure, and reputational risk
Provide ongoing feedback and training and develop employees on risk concepts and the application to risk and control evaluation
Bachelor’s degree or equivalent experience required
Exceptional critical thinking and analytical skills; able to synthesize diverse processes and data and formulate appropriate conclusions
Strong interpersonal skills, exceptional relationship building and influencing skills and ability to effectively partner with all levels of management across numerous teams to help drive the control agenda
Clearly articulate business risks and control strategies in a meaningful and actionable manner
Flexible, adaptable to shifting priorities; able to work in a fast-paced, results driven environment
7+ years of financial service experience in controls, audit, quality assurance, risk management, or compliance preferred
Proficient knowledge of control and risk management concepts with the ability to design, create and evaluate risks and controls in conjunction with business partners
Proficient in Microsoft Office Suite (Word, Excel, PowerPoint, Visio)
Business knowledge - ability to understand the business / knowledge of regulation surrounding business
Communication/presentation - excellent written and verbal communication skills with an ability to influence business leaders in a meaningful and actionable manner
Networking – exceptional interpersonal skills; exceptional collaboration and relationship building skills
Work autonomously to affect change - flexible, adaptable to shifting priorities; manages competing priorities to achieve the most effective result and able to work in a fast-paced, results driven environment
Process analysis / design acumen – ability to understand a process and associated risk to inform control design
Problem solving / Analytical skills - solid critical thinking, attention to detail and analytical skills; able to synthesize large amounts of data and formulate appropriate conclusions
◦ Understanding root cause / identifying control breaks
◦ Developing timely and sustainable solutions
◦ Analyze metrics for emerging risk
◦ Writing Action Plans, Procedures
◦ Change Management
Ability to make subjective and informed decisions based upon output, influence stakeholders and justify decision making
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