WSS Risk Manager – Collateral Management, Execution Services, and Depositary Receipts (VP) recruitment
Identify, monitor, mitigate, manage, and report all risks in the WSS cash, securities, and derivatives collateral management services, execution of trades on behalf of clients, including transition management services, and the depositary receipt product and complementary trading activities in the Western Hemisphere, including credit, operational, market, and fiduciary risks.
This includes:
1.
identify and quantify credit, operational risks, and all other risks,2.
actively manage, mitigate, and report these risks,3.
define credit limit and approval needs and interact with the Credit Responsibility Unit for each client to articulate risks and approve them,4.
oversee operational controls and action plans to address operational risks and control gaps,5.
partner with Product Managers and other functional groups to approve new products (NBIAs),6.
contribute to risk control technology initiatives to improve risk management and reporting.
Act as point person and coordinator for the creation, maintenance, amendment, and approval of risk policies, facility types, and credit limits related to WSS collateral management, execution services, and depositary receipts.
Understand and actively manage all risks associated with the overall WSS collateral management, execution services, and depositary receipts activity and with each individual client for these products. Manage credit facilities/limits, proactively right-sizing credit limits needed and coordinating their approval with other Risk Management groups that have the Credit Responsibility Unit for clearance clients, ensuring that they fully understand all risks related to WSS products and the control framework to manage them.
Support WSS Sales on onboarding and legal documentation for all WSS collateral management, execution services, and depositary receipts clients. Coordinate with IB/CB Risk and Corporate Banking to obtain approvals for new WSS collateral management, execution services, and depositary receipts clients.
Ensure accurate reporting of risk associated with WSS collateral management, execution services, and depositary receipts clients in credit systems, acting as point person for projects to feed exposure in CRI.
Ensure close coordination with Special Credits Group to manage WSS clearance clients with deteriorating credit quality. Serve as focal point for crisis management response and REDs (rapid exposure drills) for WSS clearance clients, facilitating communication with other Risk groups and relevant units.
Collateral Management Specific Responsibilities:
Support risk analysis and approval of new clients, monitor risk of existing clients.
Oversee process to price securities held as collateral. .
Monitor credit exposure and credit limits with collateral management clients.
Depositary Receipt Specific Responsibilities:
Support risk analysis and approval of upfront and on-going contributions to DR clients.
Monitor risk of all DR clients with unamortized contributions.
Participate in review and update of all models used to price and approve DR deals.
Monitor credit exposure, overlimits, and credit limits with DR Pre-release counterparties on a daily basis, understanding their drivers and trends, providing recommendation to approve overlimits and to resize credit limits, escalating issues and concerns, and ensuring accurate credit risk reporting.
Execution Services Specific Responsibilities:
Support risk analysis and approval of clients and transactions.
Liaise with Credit Responsibility Units for clients to explain risks and facilitate credit limits or one-off credit risk approvals.
Qualifications
Knowledge of JPMorgan's Risk Management organization, operations, policies, and systems.
Knowledge of banking products, particularly WSS products.
Ten years of banking experience.
Credit and risk management background, preferably credit-trained and with experience making credit and risk management decisions.
Solid written and verbal communication and presentation skills.
Ability to articulate and explain views and to make balanced decisions.
Ability to develop partnerships and work with different teams.
Problem-solving skills, ability to multi-task and negotiate solutions.
Analytical skills, ability to understand risks and their drivers and to develop risk control and reporting.
Effective project management skills, ability to contribute to enhancements in risk management systems and overall clearance systems framework.