JPMorgan Chase Corporate Controllers - Valuation Control Group Equities Associate in New York, New York
JPMorgan Chase& Co . (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. 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 www.jpmorganchase.com at http://www.jpmorganchase.com/ .
The Valuation Control Group (VCG) has Firmwide ownership of the policies for Independent Price Verification and Fair Value Adjustments for all traded instruments to ensure that the Firm’s risk positions reflect Fair Market Valuation. In this respect, VCG does the following:
Price-tests allinstruments to independent data sources, typically consensus data.
Implements Fair ValueAdjustments to bring mid-prices to Fair Value, to reflect illiquidity,concentration and/or uncertainty
Developsmethodologies for Price-testing and Fair Value Adjustments
Reviews ApproximatelyLoaded trades in conjunction with Middle Office and the Model Governance groups
Escalates ValuationIssues to Senior Business and Finance stakeholders
Defines andimplements Fair Value Hierarcy for the classification of instruments
The Equity Americas team in VCG is responsible for Valuation Control for all desks in the Equities business, for the US and Latin America. The team covers a broad array of products including equity vanilla and exotic options, financing derivatives, equity swaps, and equity hybrids. The Americas team has seven members; the global team has 22 members.
An Associate role in the Equity Americas team in VCG.
Play a key role in providing Price-testing and FairValue Adjustments for Equities businesses.
Engage with stakeholders to establish policy forIndependent Price Verification and Fair Value Adjustments
Partner with Market Risk, Quant Research, and ModelGovernance Group on issues regarding risk, reserves, modelling, and valuation
Assist with other Finance responsibilities within VCGincluding FAS 157 fair value classification and financial closings
Enhance existingcontrol framework by reviewing processes, tools, and coverage
Discuss results with traders, providing support for conclusionsand escalating as necessary
Review new approximate load trades, and provideapproval where appropriate
Participate in testing of new applications prior totheir release to support our function
Motivated individual with an interestin, and apititude for, complex financial products.
Product knowledge in the valuation of derivativesis required. Capacity to understandcomplex products, and analyze transaction and process flows
Experience in trading, quant research,or a control function would be appropriate for the role
Candidates with quantitative backgroundspreferred
Advanced Excel skills are required.Experience with Visual Basic and Access preferred.
Verbal and written communicationsability. Comfortable leading and discussing issues with Trading & SeniorManagement is required.
Sound decision-making skills and a propensityto handle multiple tasks simultaneously and efficiently
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.