Job Description
Credit Portfolio Group (CPG) is one of the key product control groups within the CIB and is mandated to actively manage the Investment Bank’s retained credit exposures resulting from traditional lending and derivatives activities. Specifically, CPG is responsible for developing and executing strategies with the primary goals of reducing credit risk concentration and losses from credit events, as well as aiming to increase the capacity for future business. A major component of these responsibilities is to manage the credit and associated market risk of derivative counterparty exposures. This entails risk position analysis for a number of separate markets, and executing a coherent strategy across them.
As a CIB's Controller you will have product control responsibilities for CVA (credit valuation adjustment which
is essentially marking to market JPM's derivative receivables to reflect the counterparty's creditworthiness) and FVA (funding valuation adjustment). As the CPG EMEA derivatives Product controller you will ultimately be looked at as a subject matter expert and will be responsible for:
Job responsibilities
- Daily review/analysis of CVA results for specific CVA books and associated hedges providing substantiation for the material drivers of CVA balance changes.
- Understanding fundamental concepts of CPG such as Derivative products and Risk Management.
- Validates and understands daily P&L explains, first order & higher order explains and residual amounts
- Coordinate closely with traders on understanding the movement in books and Day 1 PnL issues.
- Provides daily/weekly/monthly P&L commentaries to senior traders, senior management, explaining P&L in terms of desk's risk position, strategy and economic factors
- Identifies, design and implements new controls and processes around the P&L production to drive efficiencies and to keep up to date with Global Product Control standards
- Participates in a wide range of on-going and new projects ensuring the needs and requirements of Product Control are met
- Identifying & correcting system shortcomings by providing input to technology team during design, buildout, and testing.
Required Qualifications, Skills and Capabilities
- Bachelor s degree in Business, Accounting, Finance or other related area
- Knowledge of derivative products from prior experience of working in P&L, Risk (Product Control) or trade support function
- Self-starter, motivated individual able to work independently with changing levels of work load throughout the month
- Ability to build and influence partnerships within the various product-aligned businesses, corporate reporting teams as well as senior CPG management
- Demonstrated track record of process and controls improvement
- Some knowledge of GL Hierarchy and Financial Reporting is advantageous
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.
About the Team The Corporate & Investment Bank is a global leader across investment banking, wholesale payments, markets and securities services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. We provide strategic advice, raise capital, manage risk and extend liquidity in markets around the world.Global Finance & Business Management works to strategically manage capital, drive growth and efficiencies, maintain financial reporting and proactively manage risk. By providing information, analysis and recommendations to improve results and drive decisions, teams ensure the company can navigate all types of market conditions while protecting our fortress balance sheet.
For further information, and to apply, please visit our website via the “Apply” button below.