Title: Director of Risk, Operational Risk Oversight for Collection Activity
Location: US-DE-Wilmington-Three Christina Center / 52379
About JPMorgan Chase:
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. 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 & 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. The headquarters for JPMorgan Chase is located in New York.
J.P. Morgan Chase & Co. has six lines of business:
* Asset Management
* Card, Merchant Services and Auto Finance
* Commercial Banking
* Consumer and Business Services
* Investment Banking
* Treasury & Securities Services
JPMorgan Chase holds leading positions in most major categories it competes in across its peer group. JPMorgan Chase reported full-year 2011 earnings of $19 billion on revenue of $99.8 billion. The firm continues to successfully navigate through the intense credit and capital markets turbulence, protecting the company and capitalizing on any opportunities that present themselves. The firm has a history of showing leadership during times of financial crisis and will continue to build on that legacy.
JPMorgan Chase is committed to building vibrant communities, preserving the environment and promoting an inclusive culture that benefits its shareholders, customers, employees, neighbors and future generations. A select few awards include:
* Most Admired Companies by FORTUNE magazine
* Most Respected Companies byBarron'smagazine
* Top 50 Companies for Diversity,Diversity Incmagazine
* Top Companies for Executive Women by National Association for Female Executives (NAFE)
* 100% rating on the Corporate Equality Index, measuring treatment of gay, lesbian, bisexual and transgender employees and customers
* Earned a gold rating for the U.S. Wellness Program Best Employers for Healthy Lifestyles by the National Business Group on Health
Card, Merchant Services and Auto Finance:
Card, Merchant Services & Auto Finance (CMSAF) has nearly 28,000 employees, who serve more than 50 million U.S. customers through three key businesses: Card Services, Paymentech, Auto and Student Lending. We are one of the nation''s largest credit card issuers, with more than $130 billion in loans and more than 65 million credit cards in circulation. Millions of customers in the U.S. and Canada used Chase cards to meet $343 billion of their spending needs in 2011.
Through our merchant acquiring business, Chase Paymentech, we are a global leader in payment processing and merchant acquiring. The company's proprietary platforms enable integrated solutions for all payment types, including credit, debit, prepaid stored value and electronic check processing; as well as digital, alternative and mobile payment options. In 2011, Chase Paymentech processed more than 24 billion transactions.
As part of our Auto Finance & Student Lending business, consumers can obtain loans through more than 16,200 auto dealerships and 2,200 schools and universities nationwide. We have relationships with over 75% of all U.S. automotive dealers, and we offer school-certified private student loans through Chase SelectSM.
This role resides within the Chase Card Services Operational Risk Oversight team and is responsible for leading a team and driving strategy to proactively identify operational risk and ensure adequate controls are in place to guard against financial loss. The primary responsibility of this role will be to assess activities within the Customer Support Division (collections). As an independent 'second line of defense,' this role will work with senior business owners to assess and mitigate operational risk.
This director position will be a member of the Operational Risk Oversight leadership team, report to the head of Operational Risk Oversight and provide assessments to the Chief Risk Officer of Card Services. This director will work with his/her peer group and executives in the Customer Support Division, compliance, legal, audit, finance and technology.
* Lead a team to assess Card exposure to operational risk in all Customer Support Division activities: collections, recovery, litigation, sworn documents
* Conduct collections risk reviews that address at a minimum, such items as key management initiatives, regulatory changes, portfolio performance, strategy changes, exceptions, customer complaints, volumes and staffing, litigation performance, Quality Control and Risk Control Self Assessment results
* Review and approve strategy, process or procedure changes
* Evaluate the strengths and weaknesses of existing controls and provide business direction on opportunities for improvement
* Provide an independent, objective view of operational risk assessments, mitigation strategies and emerging risks
* Institute and enforce policy that drives best-in-class risk management processes
* Deliver proactive identification of key risk trends incorporating cross line of business and external event lessons
* Ensure effective third party oversight controls and monitoring
The points below have been carefully considered as being essential for the role. Your background must accurately reflect all of these, with or without a reasonable accommodation, for your application to be considered.
* Bachelors degree
* 12 years of financial industry experience
* 7 years of credit card collections experience
* 5 years experience in defining strategy and managing a team
* Strong knowledge of risk management and internal control principles
* Proven ability to work in a matrixed environment, provide oversight and directly influence change
* Deep knowledge of the credit card business and its operational processes
* Strong organizational, project management and multi-tasking skills with demonstrated ability to manage expectations and deliver results
* Ability to collaborate with business and functional experts to provide risk assessment guidance, recognize risks and design enhancements
* Strong decision making, analytical and creative thinking skills
* High level of professionalism, self-motivation and sense of urgency
* Proven ability to build partnerships with key stakeholders
* Proficiency in Microsoft Excel and PowerPoint
* 5 years in Operational Risk Management or similar discipline of risk identification and management
* 5 years of experience in managing or oversight activities for third party vendors
* MBA or a masters degree in Process Engineering or similar discipline
* Business process management or Six Sigma certification
* Experience in creating an effective RCSA (Risk Control Self Assessment) process
* Experience building Key Risk Indicators and Key Control Indicators
JPMorgan Chase is an Equal Opportunity and Affirmative Action Employer, M/F/D/V
Job: Credit Risk Management/Review