CPG Product Control
Credit Portfolio Group (CPG) 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. They also manage Collateral and risk manage CSA specific discounting risk at a firm-wide level, achieving economies of scale and benefiting from the potentially offsetting risk of various desks
The Product Control team acts as an interface between the trading activities of the regional trading floors and other processing groups within the bank, providing an important control function within CIB Finance and Business Management, ensuring that the business results are correctly reflected in the various financial and regulatory reports, including
- Reconciliation and reporting of profit and loss figures from front end (dealer estimates) through to back end (General Ledger postings and bank management information reporting)
- Reporting and analysis of key business risk measures pertinent to the CPG business
- Validation of end-to-end integrity of deal data on bank systems
- Investigation and resolution of discrepancies between front and back-office systems, e.g. cash/settlement breaks.
- Identifying and advising the business on accounting, regulatory and booking issues, participation in the new product approval process and an overall signoff of the business unit financial statements (including regulatory returns).
- Reconciling and owning inputs to the Value-at-Risk (VaR) calculations of the firm – ensuring that they are complete and correct
- Participation in the financial aspects of the business unit strategy and management, working closely with the Planning & Analysis team to deliver appropriate MIS to support the business decision making process
- Participation in business specific projects and working with various stakeholders.
Product Control roles require interaction with many internal customer groups all having different priorities, focus and terminology. It is necessary to balance a co-operative and responsive approach with a rigorous understanding of basic controls and the requirement for independence.
- Strong numerical and analytical skills
- Experience of derivatives – either from P&L and Risk (Product Control) or trade support.
- Knowledge of spreadsheets (MS Excel) essential (skills in formulae and macro construction or the aptitude to learn these skills)
- Ability to interact with a trading room environment together with the necessary interpersonal skills to develop great partnerships and exert influence across numerous teams.
- Solid understanding of internal controls and risk assessment concepts
- Self starter with a strong interest in learning
- Ability to work well under pressure, attentiveness to detail, thoroughness and tenacity.
- Strong written and verbal communication skills, internal/external stakeholders management.
- Excellent multi-tasking and organizational aptitudes.
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.