Compliance - Global Financial Crimes Compliance - Sub Saharan Advisory Function - VP / ED Based In J

JPMorgan Chase & Co.

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JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com

Business Description

Within EMEA, J.P. Morgan operates in a number of major locations including Johannesburg. The operations of the office there support the Corporate and Investment Bank businesses within South Africa and cross border into the United Kingdom. Importantly, The South African Office manages the bank’s expansion into the Sub Saharan region both in terms of offices in country and business with clients in the region from overseas.

J.P. Morgan in South Africa and SSA.

J.P.Morgan in South Africa is located in Johannesburg and supports the representative office in Lagos and business with clients in the Sub-Saharan African countries. There are 155 employees in Sub Sahara Africa, 145 Employees based in Johannesburg, South Africa and 10 in Lagos, Nigeria. The South African entities offer a variety of products to clients. J.P.Morgan in South Africa is involved in different lines of business; Markets( Global Emerging Markets, Sales , FX, Cash Equities and exchange traded Equity Derivatives) , Corporate Investment Banking (Debt capital markets, Equity Capital markets, M&A and Research), Treasury, Transaction Services ( Core cash, Liquidity solutions and Trade) and Custody Services .

EMEA Global Financial Crimes Compliance (“GFCC”)

The regional GFCC is an expanding subset of the Compliance structure within J.P. Morgan covering all lines of business with reporting lines to the Global Head of GFCC in the USA and locally to the regional head of Compliance. At the present time, there are approximately 100 staff covering advisory, monitoring and investigations, sanctions, bribery and corruption, training, independent testing and KYC quality. GFCC staff are located within all Lines of business and in our major locations within the region.

Under our new Operating model, we are introducing GFCC staff into the locations where J.P. Morgan has an operating presence to work alongside the existing Compliance function which has historically covers regulatory compliance and financial crimes aspects. The Johannesburg based member of staff will work with Core GFCC teams who are the experts in Sanctions, Bribery and Corruption matters, training, and KYC standards as well as the senior Compliance Officer based in Johannesburg.

The business in South Africa and in the SSA region is expected to grow during 2014 and beyond in line with J.P. Morgan’s expansion plans and thus the GFCC support is required now.

We therefore have a vacancy within the GFCC team to support our activities in South Africa and also to be the focal point for the GFCC issues related to the SSA expansion both on the ground and in respect of clients in an increasing number of countries. The reporting line for South African legal entity aspects will be to the Senior Compliance Officer in country and for Regional issues to the Regional Head of GFCC based in London.

The EMEA GFCC Advisory function hire in South Africa requires:

Product expertise: good knowledge of a full range of products, including FX and securities, banking products, derivatives, their purpose, target clients, specific relevant risks, deal/trade/process flow and settlement.

Core expertise: In-depth knowledge and application of the firm’s policies, in due course, but excellent knowledge of the local regulations specifically the Anti-Money laundering legislation of South Africa and global financial crime regulatory requirements. A key component will be a good knowledge of the countries in the region, the status of the legislation, the key risks and an understanding of the inter- relationships within the countries. Familairity with the regulators will be important.

Full Position Description

The successful candidate will report directly to the Senior Country Officer in Johannesburg with a functional reporting line to the Regional GFCC Head based in London. The individual will provide support to ensure that the firm’s Financial Crime program is successfully implemented in South Africa and also be the key expert for the expansion in the SSA region. Specifically, the individual will:

· Provide guidance on the applicability of local regulations to the activities of the South African legal entities.

· Carry out local reporting as required by law and regulation

· Carry out reviews from a GFCC point of view of out target markets and the countries where offices are to be opened.

· Work with UK based GFCC staff on their monitoring and reviews of High Risk clients in the region, accompanying where necessary on bank visits.

Assess and analyse Anti-Money Laundering issues such as high risk client reviews, new products, negative media and corruption issues;
Provide clear advice on the application of South African, EU and US rules and firm policy in relation to Anti-Money Laundering, Sanctions and Anti-Bribery and Corruption;
Work with global and regional compliance management;
Identify and investigate potential rule and policy breaches, conduct investigations, 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;
Participate in the risk assessments of new business, products, or project initiatives by providing advice from an AML, Sanctions and Anti-Corruption perspective;
Assist in the development and implementation of any AML related remediation programs and/or projects;
Assist in providing AML, Sanctions, and Anti-Corruption training to the staff as necessary.
Provide appropriate reporting to business fora on the status of financial crimes risks

Educated preferably to Degree Level, possibly with an accounting or legal qualification/background.
At least 10 years Financial Crimes related experience working in a similar investment bank.
Good working knowledge of global regulatory Financial Crime requirements, particularly, South Africa, the UK and the USA
At least 4 years working in the SSA region, with good knowledge of the countries, the regulators, FIU’s and the major players
Good working knowledge of the activities of investment or commercial banks
Ability to work in a fast-paced, dynamic and demanding environment
Attention to detail and control/quality awareness.
Good communication skills especially the ability to articulate complex issues to a range of audiences, including business management, other Compliance, Legal and control colleagues, as well as Audit and regulatory authorities.
Good organisational and planning skills.

About J.P. Morgan’s Corporate & Investment Bank

J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at http://www.jpmorgan.com/.

JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.

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