CIB F&BM - Asia Recovery & Resolution PMO - Associate
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 .
The Corporate & Investment Bank (CIB) Finance and Business Management (F&BM) group provides financial advice to support the CIB's business strategy and helps to ensure a sound control environment. Within F&BM, the four major areas of responsibility are: Business-aligned BMs (Business Managers), the CIB Controller, Support Staff CFO, and Planning and Analysis.
The CIB Resolution & Recovery Team is part of CIB Controllers. Its mission is to oversee and, ultimately, deliver the CIB's contributions to JPMorgan Chase's Recovery and Resolution Plans, required by the US and international regulators.
The Dodd-Frank Act (US regulation) requires large, systemically important financial institutions such as JPMorgan Chase to submit Board-approved Resolution Plans (a.k.a. Living Wills) to US regulators. US federal regulation also requires JPMorgan Chase to submit Recovery Plans to the regulators. Resolution Plans need to demonstrate how JPM would be resolved in an orderly way (i.e., without causing a major market disruption) if the company ever became bankrupt. Recovery Plans need to demonstrate how the firm would recover if the firm were to experience significant decreases in capital and liquidity as a result of a severe crisis event. These plans are a strategic priority for the firm as failure to produce comprehensive, credible plans could lead to more stringent capital, leverage, or liquidity requirements, and, ultimately, to possible firm-wide structural/organizational changes. Similar regulatory requirements exist in the UK and other European and Asian jurisdictions.
The CIB R&R Team plans, manages, controls, and delivers the CIB's contributions to JPMorgan Chase's Recovery and Resolution Plans. Position Description:
JPMorgan Chase is seeking an Associate to join the CIB APAC Resolution and Recovery team in Hong Kong. The APAC R&R team is responsible to manage the APAC R&R deliverables in relation to the Firmwide Recovery & Resolution Plans and the local legal entity Recovery & Resolution plan(s). Specific duties would include the following:
• Act as single point of contact for APAC R&R deliverables for both regional and global
• Coordinate APAC CIB Material Legal Entities (MLEs) deliverables as part of the Firmwide Resolution Plan submission including working group calls, provide guidance to the Asia stakeholders, review final outputs, prepare board meeting materials, etc.
• Support Proforma analysis involving financials projections of MLEs under a Resolution Scenario including financial analysis, project management and senior review meeting preparations
• Project lead of the local recovery plan(s) e.g. HK recovery plan to meet local regulatory requirements and support the development of recovery stress scenarios, recovery triggers, recovery stress analysis, menu of recovery options, etc.
• Perform periodic Resolution MIS data review, resolves issues and breaks, contribute enhancement ideas for ongoing improvements
• Ad-hoc requests and other projects e.g. LE Simplifications, APAC Booking Model practice, etc.
• Bachelors' degree required
• At least 3 years of experience in finance, operations and/or project management
• Highly effective oral and written communications skills
• Knowledge of and competency in project management process, including planning tasks, allocating resources, risk and issue management, monitoring and reporting, documentation and record keeping
• Strong analytical and control competencies to facilaite production, review and sign off of complex financial outputs
• Able to work under pressure and multi-task
• Work proactively and independently as well as in a team environment
• Strong knowledge of Microsoft Excel, PowerPoint and Word. Experience in management reporting preferred
• Basic knowledge of accounting and ledger systems is preferred