Based in Jersey reporting to the Regional Manager for Depositary Services in Ireland and the Channel Islands
About J.P. Morgan – J.P. Morgan is a leader in financial services, working in collaboration across the globe to deliver the best solutions and services to meet our clients’ needs, anywhere in the world. We operate globally, and hold leadership positions in the marketplace across our businesses. We have an exceptional team of employees who work hard to do the right thing for our clients and the firm, every day. This is why we are one of the most respected financial institutions in the world – and why we can offer you an outstanding career.
Securities Services – J.P. Morgan Securities Services, a division of the Corporate & Investment Bank (CIB), is a global industry leader with $25.4 trillion in assets under custody. J.P. Morgan Securities Services provides innovative global custody, fund accounting and administration, and depositary services to the world’s largest institutional investors, alternative and traditional asset managers and private equity firms, along with ancillary services including but not limited to foreign exchange, securities lending, collateral management and liquidity solutions.
Channel Islands Business Overview – J.P. Morgan in the Channel Islands is aligned with the firms’ Corporate and Investment Banks Securities Services business. Our Channel Islands offices provide a full suite of fund and depositary services to a diverse range of investment structures. These services are offered through three Jersey and two Guernsey regulated entities with a range of financial services licences to provide: Fund Services Business; Trust Business, AIF Services Business, Global Custody and Banking Business.
Job Summary – Reporting to the Regional Manager of Depositary Services for Ireland and the Channel Islands, this VP role will manage the Depositary Services team in the Channel Islands. The Depositary independently oversees the management of regulated investment funds and acts to protect the interest of funds’ investors. The Head of Depositary Services will ensure the Jersey and Guernsey Depositary team are compliant with the Jersey Financial Services Commission and the Guernsey Financial Services Commission requirements and with the J.P. Morgan European depositary operating model. Working with the Channel Islands management team the Head of Depositary will further develop strategic partnerships with clients, other partners and stakeholders.
- Lead the Depositary team to develop its capabilities during a period of significant evolution and business growth
- Ensure the Channel Islands Depositary team is managed compliant with applicable laws and regulations and with a strong risk and control focus
- Manage client interaction at a senior level; including regular client meetings, presentations and attendance at board meetings, to ensure client relationships are managed to a professional standard
- Pro-active management of the oversight programme to ensure timely closure of breaches, errors and other significant matters identified on the funds
- Maintain an up to date knowledge of regulatory, industry and client matters
- Partner with our internal teams to ensure the Depositary strategy is comprehensive and supports the wider Securities Services objectives appropriately
- Act as Director on the boards of J.P. Morgan Trust Company (Jersey) Limited, and J.P. Morgan Custody Services (Guernsey) Limited
- Member of the Channel Islands Local Management Committee
Key Experience / Skills
- Must be suitability qualified or hold relevant experience in order to meet the requirements of a Principal Person under the Channel Islands regulations
- Work experience in depositary, trustee, or other fund related services
- A strong understanding of Channel Islands regulatory environment for funds and trusts
- Client relationship skills
- Risk management and controls skills
- High attention to detail and ability to work on own initiative
- Professional judgement, communication and strong influencing skills
- Strategic approach to management and team player
- Organised and structured approach to work to ensure timely closure of issues