J.P. Morgan

UK Reg Reporting Controls Team Senior Associate

Recruiter
J.P. Morgan
Location
London, United Kingdom
Salary
Highly competitive compensation package
Posted
01 Jul 2022
Closes
01 Aug 2022
Ref
210260060
Approved employers
Approved employer
Contract type
Permanent
Hours
Full time
Experience level
Qualified accountant

Job Description

JP Morgan UK Regulatory Finance – Associate – UK Regulatory Reporting Controls Team

The Function: UK Finance Controller

Part of the wider EMEA Finance Function, the UK Finance Controller supports external reporting and control for the UK Suite of entities. The department comprises Legal Entity Control, Regulatory Finance, Finance Projects, and Policy.

UK Regulatory Finance

UK Regulatory Finance is a high-profile function, providing financial information to the Prudential Regulation Authority (“PRA”), Financial Conduct Authority (“FCA”) and the Bank of England, as well as producing financial information for submission to the German regulator.

The function is a service-orientated business comprised of specialised individuals with knowledge and expertise in understanding, managing, and delivering financial information to our regulators. The group is also dedicated to adding value and improving efficiency, quality, and controls. It is supported by change and policy functions for the developing demands of the regulators and business.

UK Regulatory Finance divides itself into four groups located in London and Mumbai:

  • Capital Reporting
  • Financial Reporting
  • Control and Assurance
  • Quality Assurance (QA)

The core responsibilities of the UK Regulatory Finance function are:

  • Preparation of monthly, quarterly, and biannual returns for the following solo regulated entities and their associated UK consolidation groups: JP Morgan Securities Plc, JP Morgan Chase Bank London, JP Morgan Europe Limited, JP Morgan Markets Limited, JP Morgan Luxembourg London Branch and JP Morgan AG.
  • Daily monitoring and preparation of capital adequacy and large exposures reports for the above entities.
  • Interpretation of the Regulatory rules which forms the basis of PRA and Bank of England reporting and providing regulatory guidance to the business.
  • Partnership and supporting other Finance areas with their reporting requirements (e.g. recovery and resolution, ICAAP).
  • Ensure the completeness and accuracy of reporting output to the regulators.

Business Landscape

The Regulatory Finance function is changing rapidly to accommodate both internal and external drivers of change: for example, through greater business engagement, legal entity strategy, regulatory change, and implementation of modelled approaches to capital.

The Role

Senior Associate, UK Regulatory Reporting Controls Team

The position is part of the Controls team within UK Regulatory Reporting. Candidates should have prior experience of working in a controls environment and possess a strong controller mind set. The successful candidate will have the following responsibilities:

  • Validating gaps in the control processes and working with teams to agree remediation plans (including raising action plans and the subsequent monitoring through to closure)
  • Challenging stakeholders in the reporting process on the effectiveness of their process
  • Working with the UK Reg Reporting teams to review issues and errors ensuring that the documentation and escalation decisions adhere to both the internal UK Reg and the Firmwide issues and errors frameworks
  • Creating control packs for monthly/quarterly control meetings with the EMEA Controller and other senior regulatory leads (including translation of controls information into actionable data for senior management)
  • Ensuring compliance with Firmwide External Financial Reporting Control Standards and control initiatives (e.g. risk acceptance and de minimis issues and errors reporting)
  • Ensuring completeness of the suite of in-scope reports for UK Reg Reporting, this will include oversight of the monthly reconciliation of reporting requirements to expected submissions via the third party regulators web portals and regular review of legal entity permissions driving reporting requirements
  • Developing network and acting as a contact within the regulatory reporting team for other areas of finance and the business such as policy, projects / change and central controls teams

Skills & Experience:

Required:

  • Strong interpersonal and team working skills
  • Proficiency in Microsoft Office – Excel, Access, Outlook, Word and PowerPoint
  • Ability to critically review and challenge numbers / strong analytical skills
  • Flexibility to work under pressure to meet changing work requirements and strict deadlines
  • Ability to communicate effectively

Preferred:

  • Familiarity with the Firmwide CORE (Control and Operational Risk Evaluation) process
  • Accounting Qualification within Financial Services industry (either Bank or Practice)
  • Familiarity with reporting requirements (CRDV, CRR2, FRTB, IFRS, USGAAP, FinRep)
  • Working knowledge of banking products (Repurchase agreements, securities, derivatives, deposits, loans, credit facilities)

Start Date: Immediately

Hiring Manager: Kelda Lyall

About Us

J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.

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.

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