Corporate & Investment Bank - Oversight and Control GroupCommodities North America - Associate Business Control Officer

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

Corporate & Investment Bank - Oversight and Control GroupCommodities North America - Associate Business Control Officer

Corporate & Investment Bank - Oversight and Control Group
Commodities North America - Associate Business Control Officer

JP Morgan's Oversight and Control Group are responsible for setting standards and providing the tools and infrastructure that ensures the Corporate and Investment Bank has a seamless front to back control environment deployed in mitigation of the Business' inherent operating risks.

The Associate will work with Senior BCOs to establish governance and systems that identify and quantify inherent risk and establish risk tolerances in consultation with the process and risk owner. The BCO will oversee the end to end system of controls that mitigate inherent risk and drive a program through thematic reviews, risk analysis and control deep dives that continuously reduces that Business' residual risk profile. To meet these objectives the Commodities BCO will partner closely with the Legal, Compliance, Business Management, Finance, Risk, Technology, Operations and Audit functions aligned to and supporting the Commodities Business.

The Business Control Officers focus will be:

    Trusted Front Office control advisors Represent Front Office interests vis a vis control/regulatory initiatives Execute and implement business controls priorities and strategy Front office supervisory management and execution Control and Risk governance implementation and reporting

Key responsibilities include:
    Facilitator of full business control governance Front Office supervision management
      Front Office Supervision (FOS) portal development and oversight including exception management Supervisory attestations Policy development, review and implementation Standard operating procedures documentation and implementation Identify and remediate control gaps

    Control and regulatory governance management
      Responsible for the monthly Business Control Forum. Production and distribution of the materials, quality review of data within the materials, and manage the meeting invite. Review cross LOB reporting to ensure consistency and raise potential best practices to LOB BCOs and re and Front office representative in control forums Prep for internal and external regulatory & control meetings/reviews

    RCSA, error governance, control deep dive
      Maintain structural and related data including management of business hierarchy changes, Cross LOB Consistency reviews, RCSA Calibration exercises, Inherent Risk Weightings, Control Ratings and issue/action plan linkages Manage the full lifecycle of a risk event including input of all Trading errors into the Operational Risk System, tracking of open risk events impacting Commodities, ensure compliance with CIB standards, review risk event for data quality, and tracking of error corrective actions

The candidate will need to establish very strong relationships with the Commodities Business and develop a deep understanding of the business, its control challenges, the architecture and products. The candidate should be interested in working in a fast-paced and dynamic environment, participating in key initiatives and becoming involved in a diverse set of issues that will have a direct impact on the organization

Qualifications
Job Requirements
· Minimum of 3-5 years markets experience.
· Background in risk management, controls, compliance, audit, or is strongly preferred.
· High level of motivation and diligence
· Strong analytical, problem solving, and re-engineering skills
· Ability to partner with numerous functions and maintain large number of communication channels
· Strong team player with excellent partnering and influencing skills
· Good organizational skills - manages & prioritizes multiple tasks across different time horizons within tight deadlines
· Proficient in Microsoft Excel, Word, PowerPoint skills