Risk Management - Third Party Services Product - Senior Associate

Location: Wilmington, DE, United States

Job Family: Risk Support

About the Role

At JP Morgan Chase, we are a leading global financial services firm with a strong commitment to managing risks effectively to protect our clients, employees, and stakeholders. The Risk Management - Third Party Services Product - Senior Associate role in our Wilmington, DE office is pivotal in overseeing the risks associated with external vendors and service providers. As a Senior Associate in the Risk Support category, you will play a key role in ensuring that third-party engagements align with our rigorous enterprise risk management framework, safeguarding the integrity of our operations in the dynamic financial services landscape. This position offers the opportunity to work on high-impact projects that influence decision-making at one of the world's largest banks. In this role, you will lead the evaluation and monitoring of third-party service providers, conducting thorough due diligence to identify potential operational, compliance, and reputational risks. You will collaborate closely with internal teams to integrate risk considerations into vendor selection and contract management processes, ensuring adherence to regulations like those from the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC). Your analytical expertise will be crucial in developing risk mitigation strategies, performing scenario analyses, and contributing to the continuous improvement of our third-party risk management policies. This involves leveraging data-driven insights to assess the resilience of third-party products against emerging threats in the financial industry, such as digital transformation and supply chain vulnerabilities. We value professionals who thrive in a fast-paced environment and are passionate about innovation in risk management. As part of JP Morgan Chase's inclusive culture, you will have access to extensive resources for professional growth, working alongside top-tier talent to drive sustainable business practices. This Senior Associate position not only demands technical proficiency but also strong interpersonal skills to foster partnerships across the organization, ultimately contributing to the firm's reputation for excellence in risk oversight and client trust.

Key Responsibilities

• Conduct comprehensive due diligence and ongoing monitoring of third-party service providers to ensure compliance with JP Morgan Chase's risk standards
• Develop and implement risk assessment frameworks for third-party products and services within the financial services ecosystem
• Collaborate with cross-functional teams, including Legal, Compliance, and Technology, to identify and mitigate potential risks
• Analyze regulatory changes and their impact on third-party engagements, providing recommendations to senior management
• Prepare detailed risk reports and presentations for stakeholders, highlighting key findings and remediation actions
• Support the oversight of vendor contracts, ensuring alignment with JP Morgan Chase's enterprise risk management policies
• Facilitate audits and reviews of third-party services, documenting processes and outcomes
• Contribute to the enhancement of risk management tools and processes specific to third-party services
• Monitor emerging risks in the financial services industry, such as fintech integrations and data privacy concerns

Required Qualifications

• Bachelor's degree in Finance, Business Administration, Risk Management, or a related field
• Minimum of 5 years of experience in risk management, third-party oversight, or financial services compliance
• Strong understanding of regulatory requirements such as OCC, FDIC, and Basel III frameworks
• Proven experience in managing vendor relationships and conducting due diligence in a banking environment
• Excellent analytical skills with the ability to assess and mitigate operational risks
• Proficiency in risk assessment tools and methodologies used in financial institutions

Preferred Qualifications

• Advanced degree (MBA or Master's in Risk Management)
• Experience with third-party risk management in a large-scale financial institution like JP Morgan Chase
• Certification in risk management (e.g., CRISC, FRM)
• Knowledge of cybersecurity risks associated with third-party services

Required Skills

• Risk assessment and mitigation
• Regulatory compliance knowledge
• Vendor management
• Analytical thinking
• Financial modeling
• Data analysis tools (e.g., Excel, SQL)
• Project management
• Communication and stakeholder engagement
• Problem-solving
• Attention to detail
• Knowledge of cybersecurity frameworks
• Report writing and presentation skills
• Understanding of financial services operations
• Team collaboration
• Adaptability to regulatory changes

Benefits

• Comprehensive health, dental, and vision insurance plans
• 401(k) retirement savings plan with company matching contributions
• Generous paid time off, including vacation, sick days, and parental leave
• Professional development programs and tuition reimbursement for advanced education
• Employee stock purchase plan and performance-based bonuses
• Wellness programs including gym memberships and mental health support
• Flexible work arrangements and hybrid work options in Wilmington, DE
• Access to JP Morgan Chase's global mobility and career advancement opportunities

JP Morgan Chase is an equal opportunity employer.