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Wealth Management - Risk and Controls (Client Onboarding) - Associate/VP
May 18, 2018
Edinburgh, United Kingdom
Introduction to Role
Within WM, the Risk and Controls Team serves the global Client Onboarding organization as the first line of defense. The Team's primary function is to (1) ensure a sustainable and disciplined end-to-end control environment for the Client Onboarding organization; (2) identify and escalate issues with a sense of urgency; and (3) partner with the business to ensure timely remediation of issues.
The Client Onboarding Risk and Controls Team is seeking to hire a Vice-President to serve as a Global Audit Liaison and Support Administrator to support the global operating model, with a focus on the EMEA, Geneva, and APAC regions. The candidate will function as the key point of contact for all internal audit matters, regulatory examinations conducted by banking regulators (OCC, FCA/PRA, MAS, FINMA,etc.), as well as compliance testing and validation exercises performed by audit teams within those regions to ensure comprehensive management of the audit and examination process.
This role may require up to 10% travel.
Job Description and Responsibilities
Function as the key point of contact for all audit, regulatory related examinations, and validation exercises on a variety of topics, businesses, and functions related to Client Onboarding to ensure the comprehensive management of the exam.
Manage audit calendars provided by internal audit, compliance testing teams, and other business units with examination authority and advise matters of impact to the Client Onboarding Organization.
Communicate extensively (verbally and in writing) and develop effective relationships with auditors and examiners.
Coordinate with the relevant businesses and functions to obtain information / documentation to respond to regulatory requests; Manage the timely delivery of all document production requests and provide accurate responses to all examiner questions.
Prepare business personnel for meetings and schedule business walkthrough/overview with auditors and examination teams.
Identify emerging issues with respect to audits, examinations and validation exercises, and address with regional leaders and senior management; Identify mitigating facts and circumstances (as applicable) to rebut issues identified during the examinations.
Prepare substantive written responses to audit and regulatory requests and examination reports. These responses typically advocate on behalf of the organization and require the ability to interpret and apply company standards and procedures to the facts raised by examiners.
Communicate with the relevant businesses and functions regarding regulatory issues, findings by the regulators, and remediation related to those findings.
Provide oversight and consultation on potential matters identified by operations management, risk, and compliance, as necessary.
Ensure operational practices are in compliance with relevant risk standards, policies and regulations to maintain an effective control environment.
Analyze risks, proactively identify the root-cause of issues with a view to providing recommendations for improvement where weaknesses are identified
Track and assist line of business management with identified issues, observations and related action plans, including those identified as a result of Compliance Monitoring, Testing, Audits or Exams or with regulatory impact.
Provide periodic examination status updates and contribute to management reporting, tracking and scorecards related to audits, examinations and regulatory findings.
Provide strategic advice and regular updates to management regarding the matters being handled, including, but not limited to, the timely escalation and resolution of potential issues.
Ensure pre-audit reviews are conducted at least one calendar quarter in advance for all scheduled internal audits.
Actively participate in business efforts/projects with regulatory impacts, and integrate regulatory compliance requirements into line of business policies, procedures, controls and training.
Establish and develop effective relationships and partnerships within Risk and Controls, the Business, Operations, Technology, Oversight and Controls, Audit and Compliance Testing teams.
Effectively communicate, manage and report on projects as necessary to support the Risk and Controls agenda.
Facilitate meetings; prepare documentation, and meeting minutes, as necessary.
Audit, controls testing, compliance, legal, regulatory or related financial services regulatory/compliance experience required.
Experience and understanding of one or more of the following: US, UK and EMEA global investment banking regulatory framework such as the Third and Fourth EU Anti-Money Laundering Directives, Basel Committee KYC publications, The Money Laundering Regulations 2007, FATF 40 Recommendations, FCA AML Regulations, Section 333U of the Financial Services and Markets Act 2000, USA Patriot Act, Senior Manager's Regime, etc.
Strong program/project management experience in a global environment, with background in controls management, legal and compliance, or equivalent experience in complex financial enterprises.
Knowledge of laws, rules, and regulations applicable to wealth management businesses preferred
Experience with operational risk analysis, process improvement, end-to-end process reviews, process flow mapping, and performing deep dive reviews to identify process and control gaps.
Individual must bring a relentless focus on delivery and enjoy taking ownership for the delivery of measurable results. They must also be able to:
Quickly analyze current business models/practices and develop innovative solutions
Effectively communicate key messages and simplify complex business situations
Influence the business to transform/change current state.
Analytical Skills - Candidate must be highly analytical, have great attention to detail and solid organization skills with experience in collecting, analyzing, and synthesizing data from multiple sources. Strong skills in reporting, data management and presentation of data required.
Time Management - Ability to thrive in a fast-paced, deadline-driven environment, including by demonstrating excellent time management and planning skills, along with the ability to handle multiple assignments at the same time.
Communication Skills – Candidate must possess excellent communication skills, with the ability to effectively articulate and present risks/issues, impacts, solutions/remediation, and timelines to all levels of management.
Must be proficient in MS Excel, PowerPoint, and other Office applications.
Prior experience managing global teams preferred
JPMorgan offers an exceptional benefits program and a highly competitive compensation package.