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Associate - Centralized Controls - Mortgage

Bangalore, Karnataka

Action India Pvt. Ltd

Job Description

o We are the leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.
o We have assets of $2. 5 trillion and operations worldwide
o We operate in more than 100 markets.
o We have more than 243, 000 employees globally.
Our wholesale businesses include J. P. Morgan s Asset Management, Commercial Banking and the Corporate & Investment Bank which provide products and services to corporations, governments, municipalities, non- profits, institutions, financial intermediaries and high- net worth individuals and families.
Our corporate functions support the entire organization and include the following functions: Accounting, Audit, Finance, Human Resources, Operations, and Technology.
J. P. Morgan in India provides a comprehensive range of Corporate & Investment Banking, Commercial Banking, Asset & Wealth Management, and Corporate functions services and solutions to our clients, executing some of the most important financial transactions and providing essential strategic advice to our clients such as the government, large domestic and multi- national corporations, non- government organizations and financial institutions and investors. India is a key market for JPMorgan Chase globally and our employees in India are a critical part of how we do business globally and are integrated within our businesses. Our Global Service Centres (GSCs) are strategically positioned in Mumbai, Bangalore and Hyderabad to support the firm s operations regionally and globally. The centres provide comprehensive strategic support across technology and business operations processing to all lines of business and the corporate functions.
This an excellent opportunity for an individual who thrives in a fast- paced and team- oriented environment where strong analytical skills, business acumen, and superior communication skills are leveraged to support our company's ability to accurately forecast our losses and identify early signs of credit risks.
The Consumer and Community Bank (CCB) currently consists of a number of credit portfolios including Credit Card, Mortgage, Auto, Student Loans, Business Banking and Dealer Commercial Services. The consumer business is supported by both Vertical Organizations (dedicated risk staff supporting a specific business) and Horizontal Organizations (staff that is accountable for working across businesses. ) One of these Horizontal organizations is the Consumer Credit Forecasting team.
Within Consumer Credit Forecasting is the Mortgage Loss Forecasting team. Our team is accountable for providing reasonable forecasts of delinquencies, losses and loan loss reserves throughout the year for various purposes like regulatory stress tests (CCAR, and quarterly Risk appetite) , business planning exercise such as year- end budget and mid- year forecast in partnership with P&A, collections staffing plans, etc. The team is also responsible for monitoring the health of the portfolio and updating the business on any concerning trends.
The candidate will be part of the centralized team but will have dotted line reporting to the Mortgage LOB. You will play an active role both in assessing controls gaps as well as working with your respective forecast product unit to close them. The role will need to take an investigative approach to assessing gaps that extend beyond traditional process- based assessment approaches.
Responsibilities include:
Reviewing your forecasting team s current adherence to their policies, standards and procedures
Reviewing whether current standards policies and procedures meet the spirit of the original governing entity s obligation, and any changes to the governing entity s expectations over time
Understanding feedback from independent oversight parties and assessing gaps across products. For instance an audit issue found in one product should be immediately assessed across products and this team would not only perform the assessment but assist in the closure.
Comparison of policies standards and procedures across products for consistency and closure of any gaps that are found
Comparison of controls across products for consistency and closure of any gaps that are found
Creation of a CCB Credit forecasting process around risk identification
Creation of a CCB Credit Forecasting discipline around NMEMs, Model Diagnostics, User Tools and Analytics tools
Provide expertise to risk and control partners as well as support for audit requests
Liaison with upstream and downstream partners to review and submit all control evidence for RCSA and SOX
Support Action Plans both internally and externally from issue opening to closure
Develop enhanced reporting for controls through use of automation, if required
Presenting findings, recommendations and presentations to Senior Management.
Effectively mentoring other analysts to help them develop their risk management skills and knowledge
The work schedule is Monday - Wednesday, 1 PM - 10 PM IST and Thursday - Friday, 11 AM 8 PM IST
Bachelor's degree in a quantitative discipline; Math, Finance, Statistics, Economics or equivalent work/ training is required; advanced degree is preferred
Deep credit risk experience in one or more US consumer credit portfolios (i. e. U. S. Mortgage, Home Equity, Credit Card, Automotive, Lease, Business Banking)
Knowledge of the Forecasting process, macroeconomics and finance preferred
3 years of related experience in Risk Controls Self- Assessments and Sarbanes-

Company Description

Cross Roads India Assistance, India’s first and largest road side repair assistance service... provider. Established in 1999, we have by our side 13 years of ground fleet management experience. We attend to over 1100 road side repairs every day and had so far handled over 1.5 Mn road side repairs. We are also recognised as a critical service provider under social security category hence we have been allotted with a four digit number 1922 for the safety of the general motorist.  Read full description

Additional Information

Last updated:
Job type:
Full time
Position type:
Minimum experience:
Between three and five years
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