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J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and securities services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about Company is available at Company website.
Network Management is a central function within the CIB Digital & Platform Services organization responsible for managing the Company’s Lines of Business (“LOBs”) relationships with their network of local market participants and market infrastructures. These critical providers include Financial Market Infrastructures (“FMIs”) (payment systems, central counterparties (CCPs), and check clearing systems) and Agent Banks (subcustodians, cash correspondents, partners, and clearing banks).
With over 180 resources, the Network Management team is primarily located in London, Bournemouth, New York, Tampa, Hong Kong, Singapore and Mumbai to provide coverage of markets and selected clients. While the group resides within the CIB, it supports all Company’s lines of business including Corporate & Investment Bank (Global Markets; Securities Services; Wholesale Payments), Asset & Wealth Management, Commercial Bank and Consumer & Community Banking.
The Network Manager is accountable for the continuous regulatory and operational performance oversight of our Agent Bank and FMI providers. This role will require end to end partnership and liaison with key stakeholders in the Business, Operations, Compliance, Risk, Legal and the network of agent banks and FMIs. This role will report directly into the regional Network Management head.
Roles and Responsibilities:
Accountable for managing all aspects of Agent Bank/FMI relationships in selected markets, this will include:
◦ Ensuring deep understanding of and compliance with Legal and Regulatory requirements for all jurisdictions required by the Business and their clients
◦ Accountable for completing the Due Diligence and Final Assessment Report activities for assigned markets within regulatory, policy and procedural deadlines
◦ Experience in securities processing / sub custody / settlements or corporate actions is preferred
◦ Accountable for regulatory and legal attestations for assigned markets
◦ Ensuring escalation of any matters that may impact completion of legal and regulatory requirements in a timely manner to ensure remediation within the required timeframes
Identifying risks and exposures impacting Company’s LOB’s, stakeholders, and other key cross-functional partners and working across partners and stakeholders to identify solutions and mitigants
Maintaining strong relationships with the lines of business and other partners, being able to articulate the key business strategies and requirements.
Maintaining deep understanding of the markets assigned and strong ability to apply knowledge to support the Business and client needs and strategies – identifying solutions and delivering required outcomes
Providing thought leadership around market and regulatory change, having a deep understanding of how this will impact the Businesses and clients
Driving advocacy in the markets, identified via the due diligence process, and business and client needs.
Accountable for the delivery of agent bank change in assigned markets, identified via the due diligence process, and business and client needs.
Ensuring market information review requests are expedited to ensure swift delivery to Businesses and clients
Responding promptly and effectively to any market specific enquiries and escalations received from Businesses, clients and Network Management colleagues.
Accountable for achieving fee reductions identified via the pricing strategy
Support audit requirements as required
Represent Network Management in new business initiatives (NBIs), to evaluate and identify risks associated with new / prospective engagements, products, or businesses.
Participate in and contribute to committees and governance forums as required
Contribute to special projects and initiatives as needed as required and potential to represent Company at Industry level
Accountable for management of crisis events impacting the covered markets, communicating and coordinating activities across stakeholders and partners
Previous experience working with agent banks, carry brokers and FMIs preferred.
Strong experience in TPO, risk, control and regulatory management
Previous Network Management experience a plus.
Strong relationship management, influencing, and negotiation skills.
Strong communication, interpersonal, and project management skills.
Ability to “join the dots” and evidence good judgment under pressure
Ability to identify and negotiate innovative solutions to challenges and issues
Financial services background, with at least 10 years relevant experience in the industry.
Self-motivated with a strong ability to work across the global Network Management team and across Company, developing partnerships with the LOBs and functional areas such as Compliance, Legal, Risk and Technology.
Attention to detail combined with an ability to absorb information and develop a strategic approach.
Strong analytical skills, particularly with regard to assessing risk.
Strong team player, able to multi-task and work under pressure in a dynamic business environment.
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