Corporate Controllers - VCG Credit Trading, Associate - New York

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • JPMorgan.
  • 26 Sep 16

Corporate Controllers - VCG Credit Trading, Associate - New York

JPMorgan Chase & Co . (NYSE: JPM) is a leading global financial services firm with assets of $2.6 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 .

Valuation Control Group (VCG) is an independent group within Finance whose primary responsibility is to ensure that the firm's risk portfolios are fairly valued. The group sets independent pricing and valuation adjustment policies. VCG highlights concentrations in risk or uncertainties in parameter inputs and works with the trading desk, quantitative groups, Market Risk, MGG and the P&L controllers to fully understand the risk. In addition, VCG is responsible for or involved in the review of approximately loaded trades, high level risk / P&L analysis, approval of new products, and model releases.

VCG is organized along business lines including, IB Risk, Credit, Rates, Equities, Emerging Markets, Securitized Products, Principal Investments FX & Commodities. Clients of the group include senior management, business heads, regulators, and both internal and external audit. The group also works closely with the Trading desk, CFOs, Market Risk, Middle Office, QR and MGG to ensure a complete understanding of business issues and the accurate execution of valuation policy.

Job Description :
The candidate will be responsible for supporting the valuation control function for the Global Credit Trading business. The role will allow direct interaction with the trading desk, Market Risk, MGG and P&L controllers on a regular basis. Products covered include single name CDS, Index Swap CDS, Index Options, CLO, Corporate bonds, Loans, Distressed Assets and Private Equity investments; the role is based in New York City.

Responsibilities will include:

  • Analysis of Markets, P&L and Risk on a daily basis with understanding of the factors that drive valuation and risk
  • Building/automating price verification/benchmarking process including the calculation of fair value adjustments
  • Owning the relationship between the trading desk and valuation group
  • Provide advice on valuation issues related to large concentrations, revenue on new deals/complex transactions
  • Re-engineering of fair value adjustments, including the review of concentrated/illiquid positions, complex transactions, market events effecting valuation
  • Oversee the review and analysis of non-standard transactions
  • Review and approval of new model releases as it relates to valuation
  • Enhance existing control framework including reviewing independent pricing processes, assessing potential coverage developments and implementing new tools to enhance control efficiency;
  • Working with Trading, Middle Office, Finance and Model Review to continually monitor the various valuation risks of the business and implement appropriate adjustments
  • Other value-added projects related to Business, Risk, and Finance initiatives


Qualifications
    • Experience of credit products or in a Valuation / Risk-related field.
    • 4+ years experience in the financial sector.
    • Advanced analytical and quantitative skills. Quantitative backgrounds are preferred.
    • Strong knowledge of credit products/markets, including derivative products, risk and valuation preferred.
    • Ability to understand complex products, and analyze transaction and process flows.
    • Experience working with trading desks.
    • Understanding of valuation concepts as they pertain to financial products/derivatives.
    • Strong verbal and written communications skills. Must have the ability to lead discussions with all levels of management, be comfortable discussing issues with Trading / Senior Management. Ability to explain complex concepts.
    • Solid Excel and Power-point skills.
    • Propensity to handle multiple tasks simultaneously and efficiently.
    • Experience with project management.
    • Bachelor's degree in Finance
    • Private equity/fundamental company valuation knowledge is a strong plus.