Compliance – Regulatory Management - VP/ED
Req #: 180105705
Location:Senningerberg, L, LU
Job Category: Compliance
Potential Referral Amount: Euro (EUR)
Job Title: Regulatory Management – VP/ED – J.P. Morgan Bank Luxembourg S.A.
About J.P. Morgan
J.P. Morgan is a leader in financial services, working in collaboration across the globe to deliver the best solutions and advice to meet our clients’ needs, anywhere in the world. We operate in 150 countries, and hold leadership positions across our businesses. We have an exceptional team of employees who work hard to do the right thing for our clients and the firm, every day. This is why we are the most respected financial institution in the world – and why we can offer you an outstanding career.
J.P. Morgan Bank Luxembourg S.A. (JPMBL) as a regulated Credit Institution provides a range of banking services to Banks, non-Bank Financial Institutions and corporate clients for the provision of Depository, Investor Services and Transaction Services.
Compliance plays a critical role in the successful execution of the firm's compliance mission. The Compliance function ensures the development and maintenance of a strong compliance culture by developing and maintaining rules that govern our business globally. Compliance teams work closely with business, legal, risk, and audit program infrastructure that identifies, measures and monitors compliance with applicable laws, regulations and functions to provide expertise on regulatory compliance matters, assess and measure compliance and related risks, and monitor and test the adequacy of the firm's compliance control environment. Luxembourg Compliance team has the responsibility for oversight of the consistent implementation of Global policies & practices whilst ensuring regional and country nuances are adopted to take into account local law and regulation.
Regulatory Management within the Luxembourg Compliance Team: The role sits within the Luxembourg CIB Compliance team and works closely with the EMEA Regulatory Management team (part of the broader EMEA Compliance Department) responsible for the oversight and coordination of engagement with J.P. Morgan Bank Luxembourg S.A. (JPMBL) regulators. This is a specific and critical role within the Compliance function which offers great visibility of JP Morgan’s local and regional operations and the opportunity to interact with senior management and subject matter experts across the bank and whole firm.
- The role will report to the JPMBL CCO;
- The role will require the individual to act as lead on managing JP Morgan's relationship with the Commission de Surveillance du Secture Financier (CSSF), Banque Central du Luxembourg (BCL) and European Central Bank (ECB). These are active and demanding regulatory relationships which will require significant focus and attention by the individual in this role. Key aspects of this role will involve:
- Building and maintaining a strong working relationship with the supervision teams for all regulators and other staff as relevant;
- Overseeing the schedule of meetings that JPMorgan has with our regulators - making sure that all the logistics run smoothly, helping prepare senior management and others who interact with the regulators for meetings;
- Overseeing the delivery of information to our regulators in a timely manner and tracking the various deliverables - both regular and ad-hoc. Reviewing the quality of these submissions and taking action where necessary, keeping records of meetings and agreed actions / deliverables;
- Involvement in work planning discussions with regulators to ensure the firm has a good sense of their forward looking agenda;
- Taking a lead role in day-to-day communications with regulators;
- Proactive consideration of the overall relationship with our regulators and making sure that the firm is interacting with them in the way they would expect and in an open and cooperative way.
- Oversee the management of regulatory examinations, reviews, information requests or other specific deliverables to our regulators working closely with the CIB Compliance team and management as necessary
- Working as a broader member of the EMEA Regulatory Management team to ensure Luxembourg is a component and contributor to relationships with regulators across the region are managed appropriately, getting involved with other regulatory requests and initiatives as necessary (for example licensing and other regulatory notifications).
- Providing timely and appropriate management information on regulatory liaison and relationship management within Compliance and also to broader stakeholders within the firm.
- Working closely and effectively across the organization and across lines of business with other key stakeholders in the firm's relationship with our regulators. Forging strong working relationships with Risk and Finance in particular will be important.
- Reviewing and disseminating important communications from the regulators, those which are specific to JPMBL and also broader industry communications and speeches etc.
- Act as a subject matter expert on the CSSF, BCL and ECB, the way they regulate and their expectations of firms – share this information internally and coach others on this relationship as needed.
- Providing briefing and training sessions as necessary on elements of JPMBL’s supervision.
- Develop a good awareness of other regulatory interactions in the region and support other team members in their interactions and relationship management with these other regulators.
- Strong background and experience in a banking or risk management environment, or financial services from a legal or regulatory perspective.
- Previous experience in dealing with and maintaining relationships with the CSSF, ECB or European or Global regulators within a large and complex financial services firm or experience working at a relevant regulator.
- Good knowledge of key financial services regulation and the CSSF circulars and EU regulations;
- Strong team player willing to work closely across and with multiple teams where inter-dependencies will be strong and ongoing. Can do attitude with a willingness to help others in the team and external to the team. Willingness to go beyond the day to day to deliver excellence;
- Strong analytical skills and ability to understand and interpret requirements;
- Excellent communication and presentation skills, with the ability to translate complex regulatory issues into comprehensible messages for a range of audiences and levels;
- Ability to think, plan and execute on multiple projects simultaneously in an organized manner;
- Meticulous attention to detail, strong organizational skills and a commitment to ensuring that information provided to the firm’s regulators is of a high standard;
- The ability to offer robust and constructive challenge, at all corporate title levels and across different disciplines – to become a trusted advisor to the business on regulatory relationship matters;
- Ability to consider the regulators’ position and understand, anticipate and react positively to their requirements and demands;
- Strong judgement and the ability to exercise sound judgement under pressure when faced with imperfect information.
About J.P. Morgan Chase & Co:
J.P. Morgan serves one of the largest client franchises in the world. Our clients include corporations, institutional investors, hedge funds, governments and affluent individuals in more than 100 countries. J.P. Morgan is part of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.1 trillion. 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 serves millions of clients and consumers under its JPMorgan and Chase, and WaMu brands.
J.P. Morgan offers an exceptional benefits program and a highly competitive compensation package. J.P. Morgan is an Equal Opportunity Employer