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Wholesale Credit Risk - Central Counterparty (CCP) Credit Risk & Strategy Team - Vice President

London, United Kingdom, £ £ - Annual Annual, Permanent

Description:

Wholesale Credit Risk (WCR) is responsible for the on-boarding and ongoing credit risk management of J.P. Morgan's Corporate & Investment Bank ("CIB") clients. The Global Central Counterparty (CCP) Credit Risk & Strategy Team (CRT) manages the credit risks emanating from the CCP portfolio, which are some of the largest credit exposures largely driven by mandatory clearing. The team partners closely with business units across Global Markets and Sales, Wholesale Payments, Securities Services, and Investment & Corporate Banking. The team liaises with external constituents to advocate for and address CCP risk concerns and related regulatory matters. In addition, CRT helps to ensure consistent JPM communication on CCP risks globally.

WCR is recruiting for a Vice President in London to manage a portfolio of CCPs based in the EMEA region .

Responsibilities

  • Developing an in-depth understanding of CCP risks and their risk management frameworks to support team members, provide needed input to other internal groups and lead external discussions with CCP risk professionals
  • Managing portfolio of EMEA CCPs that includes:
    • Evaluating CCP rules/procedures and quantitative risk frameworks as part of onboarding of CCPs
    • Pro-actively monitoring risk-related developments at CCPs, following up to understand impact and initiating discussions to seek changes to address risk concerns
    • Performing CCP credit due diligence, including quantitative assessments of the adequacy of CCP risk frameworks
    • Summarizing in written credit approval memos and reviews
    • Assessing creditworthiness of and assigning credit ratings to CCPs and/or their parent entities
    • Reviewing and approving trading activity, including recommending credit enhancements and appropriate structures and providing inputs into legal negotiation of credit agreements
    • Establishing and communicating credit exposure limits across products utilizing internal exposure methodologies and monitoring exposures/ limits
    • Identifying business drivers and risk characteristics of cleared activity
  • Participating in transactions and facilitating/ approving credit facilities
  • Representing JPM externally in individual CCP risk industry working groups
  • Contributing to UK policy and regulations affecting CCPs through regulatory engagement and participation in trade association panels and industry/ regulatory workshops
Qualifications
  • 6+ years of work experience in financial services, including familiarity with CCP risk management frameworks, financial modeling, and analysis , ideally in a (credit) risk environment
  • Strong familiarity with derivatives and traditional credit products as well as good understanding of market and credit risk measurement concepts with experience in underwriting, structuring, and negotiating loan, derivative, and liquidity management transactions
  • Sound understanding of risk management methodologies, i.e., product valuation and stress testing as applied to financial instruments across asset classes
  • Solid understanding of statistics with preference for degree in a quantitative discipline.
  • Strong initiative, project management skills with ability to independently manage multiple priorities/ deadlines and proactively contribute and represent region in strategic global CRT-wide initiatives
  • Excellent communication and partnership skills; strong interest in client interaction with ability to lead external discussions with senior CCP risk professionals, peer firms, clients, and regulators
  • Solid control mindsight: ensure credit policy and processes are observed and controls are maintained and ability to challenge first line and escalate emerging risks or issues
  • Knowledge of CCPs, clearing businesses and derivatives-related regulatory and legislative agendas
  • Strong attention to detail, excellent analytical skills, and ability to work under pressure

Job Details

1305131386
Full Time
London, United Kingdom
Permanent
£ £ - Annual Annual