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Wholesale Allowance and Firmwide Governance - Executive Director

Company: JPMorgan Chase
Location: Newark
Posted on: November 21, 2022

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.The Risk Controller team is responsible for the integrity and validity of the risk data disclosed in the Firm's external financial reporting, inclusive of quarterly earnings presentations, 10Q/K and stand-alone legal entity financial statements. The team is also responsible for the firmwide loan loss reserve governance and framework as well as the calculation of the wholesale loan loss reserve. The team is expected to deliver insightful, high quality analytics to senior stakeholders across Risk Management & Compliance and the Office of the CFO to enable well informed decision making.As a member of the Wholesale Allowance and Firmwide Governance team your job will be to drive integrity and reporting of the allowance for credit losses (ACL) across the Firm's Wholesale portfolios under both the Current Expected Credit Losses (CECL) guidance in US GAAP and International Financial Reporting Standards (IFRS 9, Financial Instruments ).This position requires a candidate who has or will develop deep knowledge and technical expertise of the credit loss estimation processes including the required governance and internal controls over these processes. With this expertise you will have the opportunity to:

  • Provide leadership and direction to a global team of -15 full time employees responsible for quarterly analyses, challenge and validation, as well as controls execution supporting JPMC wholesale allowance for credit losses reporting and disclosure, including in support of earnings release materials and SEC filings.
  • Own the aggregation and analysis of wholesale allowance for credit losses including analytical assessment of changes in the period (e.g., new and removed facilities, credit grading changes, macroeconomic forecast updates, thematic credit events, change in coverage ratios) and impact of various sensitivities to support senior management review.
  • Manage the true up and monitoring processes to evaluate portfolio changes through the quarter end reporting date, including adjustments to ACL estimates where appropriate.
  • Present quarterly wholesale ACL results and support fulfillment of requests, both ad hoc and as part of formal exams, of the US banking regulators, including the FRB, OCC and FDIC, as well as support requests and reviews for non-US, local regulatory bodies related to IFRS 9 (e.g., European Central Bank on-site inspections).
  • Engage with and support efforts of internal and external audit teams to support their quarterly reviews and annual audit procedures.
  • Build rapport with Line of Business Credit Risk executives to promote a thorough understanding of portfolio changes and credit risk developments, and leverage wholesale ACL tools in support of ad hoc requests, e.g., pricing of new deals in pipeline.
  • Collaborate with Line of Business CFO's and Controllers to develop a cohesive story supporting the firmwide allowance estimate and participate in presenting that story to the firm's CRO, CFO and Controller.
  • Partner with technology in the provision of business requirements to support strategic initiatives including best in class functionality to promote thorough analysis and sustain analytical requirements.
  • Take advantage of a hybrid work environment (60% office /40% remote) that provides the opportunity for in-office collaboration and the ability to work remotely.Minimum Skills, Experience and QualificationsWe 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.Experience:
    • Bachelor's degree
    • 10+ years of relevant experience within the financial services industry, preferably within the banking sector
    • Exposure to analytical methodologies and modeling frameworks for credit risk measurement preferred
    • Experience in understanding, interpreting, and implementing regulatory requirements including governance on a global level
    • Excellent written and oral communication skills with strong executive presence and judgment to gain credibility and respect amongst senior stakeholders
    • Excellent conflict resolution skills and interpersonal skills
    • Strong leadership and management skills with a proven ability to build and lead high performing teamsAdditional Skills, Experience and QualificationsThe following additional items will be considered but are not required for this role
      • Experience with Intelligent Solutions (Alteryx; Tableau; Qlik sense)JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.The health and safety of our colleagues, candidates, clients and communities has been a top priority in light of the COVID-19 pandemic. JPMorgan Chase was awarded the "WELL Health-Safety Rating" for all of our 6,200 locations globally based on our operational policies, maintenance protocols, stakeholder engagement and emergency plans to address a post-COVID-19 environment.As a part of our commitment to health and safety, we have implemented various COVID-related health and safety requirements for our workforce. Employees are expected to follow the Firm's current COVID-19 or other infectious disease health and safety requirements, including local requirements. Requirements include sharing information including your vaccine card in the firm's vaccine record tool, and may include mask wearing. Requirements may change in the future with the evolving public health landscape. JPMorgan Chase will consider accommodation requests as required by applicable law.We offer a competitive total rewards package including base salary determined based on the role, experience, skill set, and location. For those in eligible roles, discretionary incentive compensation which may be awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.Equal Opportunity Employer/Disability/VeteransBase Pay/SalaryBrooklyn,NY $166,500.00 - $235,000.00 / year

Keywords: JPMorgan Chase, Newark , Wholesale Allowance and Firmwide Governance - Executive Director, Executive , Newark, Delaware

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