EMEA Payments Liquidity Product Controller Associate
Payments is part of the overall CIB Banking franchise and is a sub-line of business within the Corporate & Investment Bank (“CIB”) line of business of the JPM Group. Payments works with a broad range of clients, from large and middle-market corporations to financial institutions, public sector and governments.
Payments includes a broad range of products and services that enable clients to manage payments and receipts, as well as invest and manage funds. The primary products in Payments include U.S. Dollar and International (Multi-Currency) Clearing, Automated Clearing House (“ACH”) and all liquidity-related services. Additional product offerings include Lockbox, Disbursements, Cash Account and Information Services, Pay Connexion, Post Office Card Account, Foreign Exchange, Reconciliation Services, Check Deposits, Currency Services, and Escrow Services. Payments provides these services to JPM Group clients (Payments-originated clients, as well as clients originated in other sub-LOBs of the CIB, Commercial Banking (“CB”), Consumer & Community Banking ("CCB") and Asset and Wealth Management (“AWM”)). Payments is currently expanding in region with new acquisitions and wider product offering, which offers a border perspective on working on new product implementations
Product Control is responsible for the overall integrity and accuracy of the financial statements and the overall governance and control of the end to end transaction life-cycle. Product Control is an independent control function responsible for the accuracy and integrity of LOB books and records. This centres on both month end and quarter end close process to ensure the books and records, both income statement and balance sheet are closed appropriately, accurately and reconciled to reported P&L in DRR.
With the ever increasing and demanding regulatory environment a Product Controller acts as a primary function to ensure the banks comply/attest to the regulatory requirements on the accuracy and completeness of financial statements.
This position is in the overall EMEA Payments Product Control team that is responsible for both Core Cash Management and Liquidity Solutions. The successful candidate will be part of the EMEA Liquidity Product Control team. The team focuses on a variety of Liquidity products from Managed Deposits, index deposit, pooling structure all designed to help Treasurers and CFO’s of both financial institutions and corporates manage their global and regional payments activity; covering the end-to-end of Balance Sheet and Revenue. The role involves overall governance of the transaction control cycle and assisting the business in identifying and achieving its objectives.
Key Roles and Responsibilities
- Key responsibilities include month end close, analysis of revenue drivers, balance sheet movements and linkage of business activity to full financial results providing full and meaningful analysis and explanation of variances with appropriate supporting business drivers.
- Support of the month-end close process in partnership with the Financial Control team (based in Delaware and Mumbai) through review of the EMEA Payments balance sheet and P&L including associated investigation and resolution of variances and associated month end issues.
- Excellent partnership skills required with other functions (Business Management, Middle Office, Technology, Front Office and Financial Control etc.) and Product Control peers globally
- Strong partnership with the EMEA Payments business and the wider F&BM team (Business Management, Financial Control and Regional Partners) providing effective support and control oversight to help maintain a strong control environment and facilitate business growth.
- Oversight of the monthly Payments forecasting process in co-operation with the Business Managers and Product partners.
- Further responsibilities will centre on managing the impact to product control of legal entity and regulatory changes.
- Participate in Internal Audit and/or Risk driven product reviews and products deep dives. Also a key participant in new product approvals (NBIA’s) from a Finance Control perspective.
- Ensure rigorous compliance with control policies, standards and procedures – e.g. P&L minimum standards compliance (P&L sign-off and comprehensive explain)
- Input and involvement into the many transformational TS initiatives and projects currently in flight and working closely with the LE Strategy projects team regarding GLASS and take down of GLE and Liquidity Spread tool, New Billing Platform, EUR auto convert for TSFX and migration of clients onto the new LE booking footprint to name but a few.
- This is a good opportunity for a Junior Associate looking for their next challenge with the potential for further responsibility in the fullness of time
- Qualified or part-qualified accountant (ACA/CIMA/ACCA) with strong accounting and double entry skills who can comfortably navigate their way around a product P&L and balance sheet. Applicants qualified by experience will also be considered if they can demonstrate strong accounting skills.
- Proven skills and results in identifying and resolving control and risk management issues that may impact financial results
- Knowledge of Payments whilst advantageous, are not essential, but they must have sound commercial acumen and financial services industry awareness and product knowledge across a number of asset classes.
- Prior knowledge of cash accounts, nostros and the cash management process would be beneficial to this role as Liquidity is integral to the smooth operation of cash accounts across JP Morgan
- Candidate must be a confident communicator (verbal, written and listening) who is used to dealing with numerous partners/stakeholders, works well under pressure, priortises and manages time well and manages expectations and anticipate needs appropriately in an environment that can change quickly so they also need to be flexible and adaptable to changing situations.
- Strong control mindset, with an attention to detail who can challenge the status quo, set the agenda, generates ideas and solutions to problems, embraces change and drives it through to completion
- Ideally candidate has experience as a product controller who can bring knowledge and experience to the wider team along with a track record of execution on finance and business deliverables
- Ability to influence and direct the activities of resources outside of direct control
- Strong interpersonal, communication and team-building skills. Ability to manage several projects and tasks concurrently and still deliver and execute on time
- Enthusiastic, highly motivated and committed individual
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.