Asset Management – Wealth Management Compliance – Line of Business Compliance Officer – Associate
JPMorgan Wealth Management is one of the world’s premier private bank, operating globally, catering for an ultra-high net worth client base with highly sophisticated investment, wealth preservation and financing requirements. Through discretionary and brokerage services Wealth Management offers a broad range of investment solutions encompassing alternative investments, structured products, mutual funds, derivatives and securities. It also offers cash management, corporate finance advice, structured lending and acts as manager of regulated funds.
EMEA Compliance Coverage Strategy
The EMEA Compliance coverage strategy requires:
Core expertise: Knowledge and application of firm policy and regulatory requirements across multiple products, services and jurisdictions. Examples include Conflicts of Interest, Suitability, Financial Promotions, Custody, Transaction and Trade Reporting, Best Execution, Market Abuse, Data Privacy and other key areas of regulatory change.
Productexpertise: Knowledge of a full range of products, including fx and securities, banking products, derivatives, structured products, investment funds (including Hedge Funds and Private Equity), credit and mortgage products, their purpose, target clients, specific relevant risks, deal/trade/process flow and settlement.
Based in Luxembourg, this is a key role in the Wealth Management’s EMEA (ex-Switzerland) Line of Business Compliance function. Primary responsibility will be the ownership of Wealth Management (WM) Compliance Investigations in the region (ex-Switzerland) but the successful candidate will also, as part of a wider team, provide general advisory cover for Wealth Management personnel in Luxembourg. The role will report to the Head Line of Business Compliance & Regulatory Management for JPMorgan Bank Luxembourg. The ability to manage multiple stakeholders and agendas combined with strong communication skills and appropriate and timely escalation will be critical to success.
The individual will:
- Involved in investigations arising from monitoring and surveillance activities and undertake desk reviews;
- Undertake the initial assessment of policy / conduct / other breaches, initiating and liaising with Global Security and Investigations (GS&I) and HR, Employee Relations, Legal and the Employee Conduct and Registrations team as required;
- Co-ordinate with the relevant SME to handle issues raised by the monitoring and surveillance and ensure timely closure;
- Provision of advice to GS&I as needed, including attending employee meetings when required;
- Identify and investigate potential rule and policy breaches, coordinating corrective action with other control functions as necessary/required;
- Maintain procedures and compile reports to track all investigations across the team, feeding into monthly team stats and MI;
- Keep abreast of industry trends and “hot issues” and anticipate areas of focus for the regulators, keeping business and Compliance colleagues informed;
- Act as a point of contact for general compliance-related queries from local staff on topics such as;
- Conflicts of Interest
- Data Privacy
- Financial Promotions
- Best Execution
- Market Abuse
- Assist in the development of policies and procedures designed to ensure compliance with firm and regulatory requirements;
- Assist and advise on the implementation of new regulations;
- Represent Compliance in governance forums, providing credible and constructive challenge
Qualifications and Skills
- Educated to Degree Level, ideally with an appropriate Accounting or Legal qualification
- Significant experience working in a similar role within the Industry or in a relevant field outside of Banking, such as fraud investigation or financial law-enforcement;
- Excellent communication skills, including the ability to engage with a wide range of stakeholders in sensitive and challenging conversations;
- Good working knowledge of EU and UK regulation;
- Ability to work in a fast-paced, dynamic and demanding environment;
- Strong organisational and planning skills and the ability to manage competing priorities;
- Sound judgement, objectivity and integrity essential;
- Fluency in French highly advantageous;
An understanding of Private Banking business would be beneficial.