The Office of Legal Obligations (OLO) program is a firm-wide, global initiative that brings together the expertise of Legal, businesses, Business Control Management, Compliance, Risk and other key control functions, to proactively manage regulatory changes in our operations and allow us to trace end-to-end connections between laws, rules and regulations on the one hand, and our policies and procedures that demonstrate compliance on the other.
The OLO program has been running since 2017, and is now transitioning into a 'BAU' state, in which a Legal and Regulatory Change Management (LRCM) framework has been established, to ensure that the inventory of laws, rules and regulations relevant to global Markets businesses held in the Enterprise Library Application, or ELA database, is kept up to date to reflect the impact of constant business and regulatory change.
As a senior associate you will, within the Markets Business Controls Management (BCM) organization, supporti the global Markets business across Sales, Trading and Research. You will be responsible for the completion of Legal and Regulatory Change Management related Business as Usual tasks, including mapping legal obligations to the policies, procedures and other evidence that demonstrates how Markets meets these legal requirements.
Mapping Execution activities will involve working extensively with a diverse set of global stakeholders, including Legal, Compliance, Business Control Management and other stakeholders. The team's activities cover 24 jurisdictions (8 languages), with further scope expansion expected.
Job responsibilities:
Determining the applicability of individual regulations to the Markets businesses, and subsequently mapping these legal obligations and the full underlying legal text to procedures or other supporting documentation, and related CORE Business Processes. Acting as a Subject Matter Expert on OLO processes and tools, collaborating with Legal, Compliance, Risk, Finance, Business partners and others to ensure a clear and consistent interpretation of applicable obligations Developing and maintaining reference data to facilitate obligation mapping, e.g. matrices of business activities, LEs, procedures and control framework by product and countryCompiling procedure gap analysis data and making recommendations to senior Business Control Managers, amongst others, as to how these gaps should be addressedResponding to and resolving items identified by Quality Assurance and audit processesAssessment of the impact of regulatory changes (LATAM-focused)MIS / Reporting / Governance material productionRunning the weekly Legal and Regulatory Change Management Triage process for MarketsRequired qualifications, capabilities, and skills:
A level of familiarity with, and interest in, J.P. Morgan's Markets products and businessesExperience in business controls, operational risk, Compliance, Legal, Audit or similar function with coverage of Markets Sales / Trading businessesComfortable with and adept at reading and interpreting legal text as a layperson (note: formal legal qualifications are not required)Good project management skills and ability to instill structure, process and accountability to meet aggressive weekly production delivery targets, whilst maintaining quality standards.Detail oriented, with a highly disciplined approach to process and quality controlStrong business analysis skills to enable efficient, accurate and objective decision makingExcellent personnel and organizational management skills, ability to work under pressure and handle high volume of throughput without compromising qualityAbility to partner closely with related functions to ensure a coordinated and effective programStrong written and verbal communication skillsPreferred qualifications, capabilities, and skills
Understanding of the control framework for Markets businesses.
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