JPMorgan Chase Bank

CIB Controls – APAC Custody & Fund Services – Operations Control Management -Vice President

JPMorgan Chase Bank
Full Time
Senior (6-10 years)

Job Description

CIB Controls – APAC Custody & Fund Services – APAC Custody & Fund Services – Operations Control Management -Vice President- Hong Kong

Location: HK-Hong Kong-Hong Kong-One Island East / 31141

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at
About J.P. Morgan Investor Services
J.P. Morgan Investor Services (IS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. Investor Services leverages the firm’s global scale, leading technology and deep industry expertise to service investments around the world. The Custody business is an integral component of the IS offering, generating more than $2Bn in revenue annually and supporting around $20Tn in assets.
Business Overview & Role Description:
Custody & Fund Services (CFS) is a business within Investor Services that offers three complementary services: Custody, which provides safekeeping, settlement, asset servicing, foreign exchange and cash management services to asset managers, insurance companies and investment funds across approximately 100 securities markets; Fund Services, which provides accounting and administration services to traditional and alternative asset managers, in addition to trust and fiduciary, transfer agency, compliance and portfolio reporting services; and Trading Services, which provides agent lending of client securities to broker dealers and other financial institutions as well as issuance and cancellation of American and Global Depositary Receipts.
The role is to join the Business Control Office for the CFS business in Asia-Pacific, supporting the team’s Operations Control Management function. The individual will join a team of change, risk and controls experts responsible for managing the end to end control environment spanning all of the primary functions from business execution to operations. The CFS APAC BCO team is part of the wider CFS and Investor Services BCO team globally, and also has responsibility for Operations Control Management in Asia-Pacific for the CFS business.
The APAC Investor Services BCO team has staff located in Australia and Hong Kong and reports to the head of function located in Hong Kong. This role will be based in Hong Kong and will report to the APAC BCO manager.
The BCO team interacts with multiple line and corporate functions and need to be able to partner effectively with senior executives of the business. The individual will need to establish very strong relationships with the CFS business and develop a deep understanding of the business, its control challenges, the architecture and products.
The OCM Vice President will assist the BCO Manager to support the oversight of the end to end system of controls that are designed to mitigate inherent risks and will drive a program through active engagement, thematic reviews, risk analysis and control deep dives to continuously manage and reduce the business’s residual risk profile. To meet these objectives, the analyst  will partner closely with other BCOs and wider business partners including Audit, Legal, Compliance, Business Management, Product,  Finance, Risk, Technology and Operations to establish governance and systems that identify, quantify, manage and monitor risk at the most granular level.
On a day to day basis, the OCM Vice President will be responsible for activities including:
1. Business Control Oversight & Governance
  • In partnership with Business Executives, establish and drive business control forums and key risk indicator (KRI) reviews, ensuring agenda and materials effectively cover critical business operating risk
  • Coordination of internal/external audit and regulatory engagements. Preparing the business for controls audits and other engagements. The analyst will ensure audit requirements are understood and communicated,  and issues or potential exceptions are resolved
  • Executing ad hoc / analytical requests
  • Address regulatory, compliance and customer issues with urgency and accountability
  • Build and maintain strong relationships with key stakeholders and ensuring the BCO is the ‘trusted partner’ to the business.
  • Enhance the firmwide control framework to ensure consistency and transparency through clear oversight and defined accountability
2. Phoenix management / Risk Control Self Assessment (RCSA):
  • Coordinate periodical evaluation and substantiation of controls within the RCSA
  • Approve new Phoenix / RCSA items and track to completion
  • Ensure RCSA assessments accurately reflect the Process, Activities, Controls and Risks (PARC’s) Inherent in the Business and Operations, and comply with Corporate standards on an ongoing basis.
  • Perform  pre-closure review of all Phoenix Action Plans to ensure actions gave been sufficiently executed
  • Proactively ensuring local and global awareness as to the status of high severity Phoenix Action Plans.
  • Serve as central point of contact for all Phoenix related queries and provide guidance as and when required
3. Incident Management:
  • Early identification and escalation of control problems, ensuring timely and appropriate resolution
  • Facilitate incident reviews with key stakeholder’s to agree root causes and ensure the delivery of high quality action plans and remediation to address control / risk issues
  • Ensure high quality incident / error management reports are produced
  • Ensure events that meet the Phoenix reporting standards are recorded in a timely manner.
  • Monitor for closure of remediation plans and undertake Quality Assurance reviews.
4. Thematic reviews, risk analysis, risk deep dives:
  • Facilitate deep dive reviews upon request and also using a risk based approach
  • Review internal risk event data for trends, thematic themes and recommend deep dive reviews where necessary
  • Maintain the business control initiative tracker and execute initiatives on a prioritisation basis.
  • Formalise a Quality Assurance plan to test the operational effectiveness of key controls on a periodical basis


Your Background and skills:
  • 5-7 years experience in Securities Services, in CAO, Corporate, Operations or in a risk and control function
  • Understanding of Custody and Fund Services products and markets and the role of a custodian
  • Solid understanding of controls and how to apply them to different processes and businesses
  • Excellent project management skills;  oral and written communication skills;  and analytic skills
  • Strong PC skills particularly Excel, Access and PowerPoint
Formal Qualifications:
  • Bachelor degree qualified
Behavioural Competencies:
  • Clear and Concise Communication
  • Ability to build positive rapport and relationships with business units - deal with issues on a global, cross business level
  • Ability to influence decisions
  • Ability to question and probe activity/functions
  • Positive Energy
  • Ability to run concurrent initiatives
  • Attention to detail and good organizational skills - manages & prioritizes multiple tasks across different time horizons within deadlines
  • Self confidence and a self-starter
  • Facilitating Change
  • Initiating Action
  • Analytical and curious  - strong analytical, problem solving & process re-engineering skills
  • Technical & professional knowledge and skills

Technical Skills

  • Analytics
  • Audit
  • Cash Management
  • Compliance
  • Disaster Recovery Planning
  • Equities
  • External Audit
  • FX
  • Management Reporting
  • Microsoft Access
  • Microsoft Excel
  • Microsoft Powerpoint
  • Process Reengineering
  • Project Management
  • Quality Assurance
  • Risk Analysis