India Payments Controls – Associate

Job summary

J.P. Morgan Payments provides solutions specifically developed to meet the challenges treasury professionals face today. Our steady focus, innovative approach, exceptional service and seamless execution help our clients around the world reduce risk, drive efficiency and capture opportunities in a rapidly shifting landscape.

J.P. Morgan Payments which combines three lines of business i.e. Treasury Services, Trade & Working Capital and Merchant Services to help our clients manage working capital and increase operational efficiency.

As an India Payment Controls Manager within J.P. Morgan Payments, you will be responsible for ensuring a seamless front to back control environment to mitigate the Business’ inherent operating risks. Your role will involve collaborating with the larger Payments Controls team on a regional and global scale to deliver innovative solutions, including data analytics, to help grow and streamline the Business. Your unique perspective will be highly valued as the Payments Business relies on the Controls functions to demonstrate strategic thought leadership and implement best in class risk management practices. This role is ideal for someone who is intellectually curious, brings fresh ideas and unique problem-solving approaches, possesses strong process orientation/project management skills, risk assessment skills, critical thinking, excellent writing/presentation and interpersonal skills.

Job responsibilities:

• Be a part of India Payments Control function to manage and effectively execute various control-related activities and provide control related assurance/ due diligence for Payments business to foster a strong risk and control culture that leverages proven evaluation strategies and sound change management protocols.
• Adopt a proactive risk management mindset with end-to-end view of payment product delivery and act as a strong first of defense business partner.
• Be actively involved in assessment and implementation of regulatory changes/internal policy changes with various payments business partners and stakeholders to ensure compliance/ adherence.
• Work alongside senior business stakeholders and guide & partner with them to ensure all new initiatives go through firm wide requirements of New Business and Change Management processes.
• Carry out the Operational Risk Assessment for New Business & Change Management Initiatives and provide controls requirements for identified incremental risks. Carry out risk assessment and determine root cause for control issues and work with the stakeholders to develop and implement robust corrective action plans for sustainable remediation.
• Execute proactive theme-based reviews/control testing, identification and mitigation of risks and assessment of control design & performance evaluation including root cause analysis for any gaps identified through the review.
• Effectively manage issues ranging from self-identified issues to regulatory enforcement actions for timely remediation and closure in line with the firm’s issue management standards.
• Responsible for review of various products, business process including policies and procedures to assess if local regulatory and firm’s requirements are met and risks associated with the product/process are mitigated with adequate control design. Responsible for timely reporting of metrics and matters including preparing meeting materials for control governance forum at India and regionally to inform the business and control management on the health of operational risk and control environment, escalate control deficiencies based on key reporting indicators.
• Manage risk proactively by preparing for various regulatory exams and audit/reviews that the Payments business is subject to at India. Coordinate and track deliverables for regulatory exams, audits, concurrent audit asks and other internal reviews with product, sales, operations, technology etc.
• Partner effectively with colleagues across business, operations management, legal, compliance, risk, audit, regulators, technology and other control functions on various control matters and to ensure consistent and rigorous operational risk practices and Control programs. Collaborate with the business and other stakeholders including control partners to deliver on Payments Control function agenda and drive consistency/standardization in the control environment across region/globe.
• Support control related discussions locally with regulators, audit teams, compliance and risk ranging from one-off meetings to more formal presentations in Business Control meetings.

Required qualifications, capabilities, and skills:

• Minimum 7 years relevant experience in Banking & Financial Services specifically in Payments, Compliance, Auditing, Risk, Operations, Internal Controls.
• Sound understanding and knowledge of Payments business, associated products & risks and the RBI regulations impacting payments
• Ability to understand financial regulations and regulatory requirements and assess adherence with those requirements from business stand point.
• Risk Assessment skills and ability to understand and work on control design to mitigate the risk including root cause analysis.
• Strong team player and excellent collaborative and interpersonal skills to partner across levels. Candidate should be able to establish credibility and strong partnership with the stakeholders.
• Strong analytical, problem-solving skills, exercise sound and balanced judgment; attention to detail very crucial.
• Be able to effectively prioritize/manage time and be able to manage multiple assignments with quality results.
• Self-motivated with an ability to operate independently, execute reviews within defined timeline.
• Ability to evaluate processes independently, work on control design and issues to determine and assess inherent risks and recommend mitigants.
• Clarity of thought, proven ability to articulate well and communicate effectively (both oral and written), with of high degree of comfort in communicating with senior stakeholders/ management, internal and external audit as well as peer groups.

Preferred qualifications, capabilities and skills:

• Chartered Account, Master’s degree, or other related professional qualification will be beneficial
• Proficiency in excel, power point, and word
• Experience in working with analytical tools such as Alteryx, business objects etc., would be an added advantage.