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JPMorgan Chase Co. is a leading global financial services firm with assets of more than $2 trillion, over 200,000 employees and operations in over 60 countries. It operates across six business segments including Investment Banking, Commercial Banking, Treasury Securities Services, Asset Wealth Management, Retail Financial Services and Card Services. The Wealth Management division of JPMorgan Chase Co. is part of the Asset Wealth Management business segment. It has offered for over 160 years customised solutions and client service of the highest quality to solve the complex needs of wealthy individuals and their families around the world. With assets under management of $1.25 trillion, it is one of the largest asset and wealth managers in the world. A Swiss regulated subsidiary of the JPMorgan Chase Co. Group of companies, J.P. Morgan (Suisse) SA is a leading provider of asset wealth management and global custody services, employing more than 750 people at both its Geneva headquarters and Zurich branch. Our Team The Compliance function assists management and staff in fulfilling their duty of compliance. The function provides a broad range of regulatory and compliance services and advice to all areas of JPMorgan Chase worldwide. Services include regulatory analysis of transactions and activities, formulation of regulatory and control policy, assistance in risk assessment and testing, new product development and assistance in the education of staff. The EMEA Compliance coverage strategy focuses on a three tiered coverage model. The coverage model requires:
- Country expertise, the in-depth knowledge of the local regulatory environment, regulatory structures, local regulatory and market contacts, local market practice, industry groups, culture, language, etc.
- Product expertise, the in-depth knowledge of a specific product/service, its structure, purpose, target clients, risks, deal/trade/process flow and settlement, exchanges, etc.
- Core expertise, the in-depth knowledge and application of firm policy and regulatory requirements across multiple product, service and jurisdictions. Examples include Personal Investment, Chinese Walls, Licensing Registration, Disclosure of Interest, Monitoring Surveillance, etc.
The Role The successful candidate will provide support to the Private Bank businesses conducted in the jurisdiction and should have the attributes defined above. The individual will work as part of the Compliance team reporting to the J.P. Morgan (Suisse) SA Head of Compliance and locally to the Senior Country Officer. The Compliance Officer will:
- assist in the Compliance surveillance program to monitor for real or apparent breaches of laws, rules, regulations and local and other internal policies;
- assist business management in the development of policies and procedures designed to achieve and ensure compliance with firm and regulatory requirements;
- provide clear advice on the application of local Swiss, UK and US rules (where applicable) and firm policy;
- provide advice in respect of handling breaches of policy, client guidelines/mandates, etc;
- provide compliance input into New Product Approvals for the Swiss office, assess Compliance/Regulatory issues/impact of proposed new products/procedures of client groups;
- liaise with internal and external auditors and manage responses and action compliance issues raised in audit reports Control Self Assessment reviews;
- work with business management to identify the training needs of front office and other staff and assist with designing implementing a formal compliance training program with structured training materials;
- provide structured and ad hoc compliance training to non- Swiss based Private Bank staff as necessary;
- represent Compliance on Swiss business committees, giving compliance advice regarding issues raised;
- liaise with global and regional compliance management;
- identify, investigate potential rule breaches, coordinating corrective action with other control functions as necessary/required;
- keep abreast of industry trends and "hot issues" and anticipate areas of focus and attention of regulators, keeping business management and Compliance colleagues informed;
- working with Legal Compliance colleagues, initiate ongoing discussions with regulators to effect outcome of proposed regulations;