CIB – F&BM – Product Controller – EMEA Global Custody,Global Direct Custody – VP
Job Description:
The Custody Product Controller is part of the Investor Services Finance team and is responsible for providing Product Controller support to the EMEA Global Custody business in the region as well as having responsibility for Direct Custody globally. Investor Services Product Controllers are responsible for the line of business financial statements and associated metrics, detailed monitoring of revenues, awareness and assessment of controls impacting the financials, provision of Line of Business (LOB) level data for regulatory reporting. The controllership function is dedicated to ensuring accounting principles are applied in compliance with generally accepted accounting principles, tax, legal, regulatory and statutory requirements. We divide our responsibilities between business as usual processes (i.e. monthly close, financial general ledger reporting and regulatory activities), supporting the risk environment (working closely with risk, audit, operations, and product) and strategic projects to support the business (acquisitions, divestitures, business expansion, etc)
This role will require the development of a strong partnership with the Global and Direct Custody (DCC) businesses, operations and finance partners. This role will also involve close engagement with several Investor Services (IS) and Corporate groups across the firm including Credit, Regulatory Reporting, Risk Management, Product Management and Legal Entity Controllers (LEC). The role provides a great opportunity for a highly motivated individual to gain exposure to a key Investor Services product and become a valued partner to the business.
Key responsibilities
• Understanding the make up of the Custody balance sheet and PL from a ledger perspective including key variances, associated drivers and implications
• Awareness of key controls and associated metrics which ensure the accuracy and integrity of the balance sheet and PL (General Ledger Recon and Substantiation (GLRS), ageing data, variances, Control Self Assessments (CSAs), general control environment), escalation of associated concerns to the business and driving resolution.
• Compilation of monthly revenue forecast using billing and other indicative data available
• Monitoring of actual vs. forecast and plan through the close, investigating and validating variances to forecast and keeping Business Managers and the Planning Analysis (PA) team informed of variance drivers
• Interpretation and high level explanation of Legal Entity results from a LOB perspective working closely with Financial Control and LEC
• Provision of key variance analysis commentary and metrics to PA and IS Finance senior management
• Validation of Foreign Exchange revenue share passed across from the Investment Bank
• Support for data requested as part of ad hoc regulatory reviews (FED, PA etc)
• Client Money Asset reporting in UK – validation of Custody submission
• Provide input to RWA forecasts and monitor actuals vs. forecast to understand drivers
• Help guide business as to how to influence RWA and hence capital allocations, with respect to existing business but also new deals, projects, business expansion.
• Partner with Financial Control around key projects which have ledger impact:
• Review and approve NBIAs (New Business Initiative Approvals) for a Product control perspective
• Support business expansion –new markets, new locations, DCC roll out with respect tot maintaining the control framework, working closely with LECs, Finance project team and Business Managers
• Provide guidance and advice on accounting issues, partnering with Accounting Policy as appropriate
• Ensure close partnership with Business Managers and Financial Controllers to ensure close and effective communication of all matters impacting the business and provide efficient and effective financial support to the business from Finance as a whole
Qualifications:
• Proven skills in identifying and solutioning control issues that may impact financial results
• Significant accounting / financial experience
• Proven staff management experience
• A CPA designation or equivalent, a plus
• Strong interpersonal, communication and relationship-building skills
• Ability to deal with multiple tasks and requests in a fast moving environment coupled with proven ability to prioritise and meet key deliverables.
• Enthusiastic, highly motivated and effective under tight timeframes and pressure
• Excellent communication skills including the ability to present complex and sensitive matters
• Advanced Excel skills (formulas, pivots ,etc)
• Previous financial industry experience an advantage
About J.P. Morgan's Corporate Investment Bank
J.P. Morgan's Corporate Investment Bank is a global leader across banking, markets and investor services. The world's most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at http://www.jpmorgan.com/ .
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