About the position
Wealth Management Risk - Credit Risk Associate (Hedge Funds & Individuals, FIG, Management Companies, Venture Capital). JPMorgan Private Bank is a global wealth management leader that delivers the highest quality advice, service, capabilities and products to wealthy individuals and families in 36 countries around the world. The Private Bank delivers highly customized and tailored solutions to help clients with the challenges of substantial wealth, utilizing the Private Bank's discretionary investment management, brokerage, tax and estate planning, credit, capital raising and specialty wealth advisory services while leveraging the commercial and investment banking capabilities of the firm. This position will be a Credit Risk Associate managing client credit in the Private bank portfolio focusing on the Financial Institutions specialty portfolio, including hedge funds, venture capital and private equity clients. As a Credit Risk Associate in Wealth Management Risk team, you'll be the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.
Responsibilities
- Manage credit risk management on the Credit Risk portfolio focused on Hedge Funds and Individuals, FIG, Management Companies and Financial Sponsors related to Venture Capital and Private Equity Sponsors; with primary ownership of managing portfolio risks within acceptable quality and loss tolerances.
- Manage Structure Custom Credit facilities include: Fund Finance, Private Equity Co-Invest, Management Companies, Hedge Fund Collateral, Unsecured, Artwork. Approve credit risk exposure relating to the client base within authorized limits.
- Maintain project management which includes collaborating with team members across LOBs and businesses.
- Provide assignment of risk ratings, Loss Given Default (LGDs), and other risk metrics across the portfolio and understand Global Wealth Management Credit Risk appetite on wholesale loans, mortgages, OTC (Over the Counter) products and others.
- Identify and monitor concentrations, trends and themes in the portfolio, and direct the preparation of Portfolio Reviews and ensure that Risk exceptions in the portfolio are appropriately managed and escalated as required. Engage with Credit Middle Office as needed.
- Partner with the Business to build a culture of Risk discipline across the organization and work closely with the Underwriter team and build an integrated approach to making credit decisions that incorporates underwriter input.
- Work with / provide credible challenge to Lending Solutions on new products, new initiatives. Work with the Credit Middle Office to continuously upgrade and improve Risk Reporting MIS (Management Information System) for portfolio management. Maintain satisfactory Audits across the credit portfolio. Ongoing approval of new transactions / portfolio reviews / risk discussions.
- Challenge the status quo. Continuously strive to find better, more efficient ways to manage credit risk and business flow, including underwriting.
- Provide technology to strengthen Risk Management practices and products. Find gaps in Risk Policies / Underwriting guidelines and work with Risk Policy team.
Requirements
- Bachelor's degree
- 3+ years of professional experience related to financial services, risk management, compliance or legal and strong Microsoft PowerPoint and Excel skills
- Strong, clear, and concise written and verbal communication with ability to edit and prepare executive level communications.
- Excellent organizational and project management skills; able to manage competing priorities under tight deadlines
- Proven ability to collaborate and build strong partnerships and possess Intellectual curiosity with a proven ability to learn quickly
