Compliance Advisory Officer,
Vice President,Private Bank, Geneva
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 four business segments including Corporate and Investment Banking, Commercial Banking, Asset & Wealth Management, Consumer & Community Banking.
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 $1.3 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 900 people at both its Geneva headquarters and Zurich branch
An exciting opportunity has arisen for a Compliance officer to join J.P. Morgan (Suisse) SA’s Compliance Department in Geneva, at an Associate or Vice President level.
The Swiss Compliance department’s mission is to provide a regulatory support to the Wealth Management Business. The whole Swiss Compliance Department currently employs 37 Swiss-based officers. Our coverage strategy 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 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.
Core expertise, the in-depth knowledge and application of firm policy and regulatory requirements across multiple product, service and jurisdictions. Examples include Cross-Border, Code of Conduct, Conflicts of Interest, Suitability, Outsourcing, Data privacy, Financial Promotions, Client Assets, Custody, Transaction and Trade Reporting, Best Execution, Market Abuse, FMIA, LsFin /LeFin, Compliance Operations, new Compliance Technologies innovations and other key areas of regulatory change in Switzerland and globally.
Duties and Responsibilities
As a Senior Associate or junior Vice President in the Compliance Advisory team, this individual is expected to demonstrate dynamism and leadership. The successful candidate will interact regularly with Compliance colleagues and also with all levels of bank staff and senior management across the legal entity and the global firm.
The individual filling this role will be responsible to provide compliance advice and guidance (via “check and challenge”) in a manner best suited to the current and future needs of the Private Bank businesses conducted in the jurisdiction.
The individual will report to the J.P. Morgan (Suisse) SA Compliance Advisory lead and should have the following duties and responsibilities as defined below.
- Provide day-to-day ad hoc compliance advice and guidance in relation to clients’ general questions and issues;
- Provide clear advice on the application of Swiss, EMEA, Group rules and firm policies;
- Provide advice in respect of handling breaches of policy, client guidelines/mandates, etc.;
- Assist Compliance team in the development of policies and procedures designed to achieve and ensure compliance with firm and regulatory requirements and ensure team procedures are updated annually. Undertake the initial assessment of policy / procedures and guidelines liaising with the Business and Subject Matter Experts;
- Compile and create Management Report & Information (MIS):
ü compiling of data and producing monthly entity and EMEA / Group reports
ü Compile reports to track all activities across the team GFCC, Compliance & GCO, feeding into monthly team stats and MI.
ü preparing other ad-hoc reports as required by the Head of Compliance
- Ensure, under the direction of the Head of Compliance, that appropriate standards of conduct risk compliance including Treating Customers Fairly (TCF), are in place;
- Coordinate the local Compliance Annual Risk Self-Assessment reviews under the direction from the Head of Compliance and its deputies;
- Manage the future regulatory changes activity, keep abreast of industry trends and \”hot issues\” and anticipate areas of focus and attention of regulators, keeping business management and Compliance colleagues informed;
- Provide advice, guidance and support on the implementation of regulatory changes;
- Actively engage in and lead where required on key initiatives within Compliance Advisory, including new project initiatives and programs;
- Identify, investigate potential rule breaches, coordinating corrective action and assist in the resolution with other control functions as necessary/required;
- Advise on investment products (e.g. traditional and alternative collective investment schemes, structured products, OTC and listed derivatives, discretionary investment management and advisory services) and services related matters;
- Support the team effort with any internal and external auditors and support the Compliance senior lead for responses and action compliance issues raised in audit reports;
- 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;
- Lead / undertake ad-hoc requests by the Head of Compliance and/or Code of Conduct Specialist for J.P. Morgan (Suisse) SA;
- Establish a good working relationship with the local Business, Operations, Legal, Risk & controls teams and work across Global Compliance teams to ensure consistent view / interpretation of regulatory requirements end-to-end.
- Experience of at least 3 to 5 years gained in the financial services industry, preferably within Private Banking financial institutions or external audit/legal firms;
- Experience of Compliance activities particularly in relation to a compliance advisory role working under Swiss laws & regulations are a requirement.
- Previous work in audit, testing, legal consulting in investment products and services related matters is a plus;
- Good understanding of Compliance & Risk analysis processes and Compliance business management skills;
- Evidence of working on the delivery of projects or implementing regulatory process change is required
- Bachelor’s degree (or equivalent) required or evidence of comparable academic / work achievement;
- Languages: Fluent and excellent English is required. French, German or Spanish are an asset
- Due to legal restrictions, we will only be able to consider applications from applicants with a valid Swiss work permit, or holding a Swiss or European nationality.
- Strong team work, interpersonal, communication, leadership, presentation and influencing skills;
- Ability to prioritize multiple tasks, work under pressure and deliver high-quality results under tight deadlines;
- Ability to summarize complex topics concisely, be solution provider and drive practical yet compliant outcomes;
- Analytical skills, in combination with sound judgment, to evaluate regulatory requirements and business conduct risks;
- Ability to make sound decisions, including escalation when appropriate, in regard of controls, compliance and reputational risk;
- Strong drafting, negotiation and analytical skills;
- Effective and efficient problem solver; strong multi-tasking skills; self-starter;
- To work without supervision and act on own initiative to identify tasks to be undertaken;
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.
If you would like to pursue a career with JPMorgan Chase & Co.’s Compliance Department in Switzerland, please apply online providing a cover letter and CV in English.J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as any mental health or physical disability needs.