Department: Depositary Management, with responsibility for Client Engagement
J.P. Morgan is a leader in financial services, working in collaboration across the globe to deliver the best solutions and advice to meet our clients’ needs, anywhere in the world. We operate in 150 countries and hold leadership positions 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.
J.P. Morgan’s Global Depositary Services business is a market leader providing depositary services in excess of $1.8 trillion of assets for 150 clients across 13 European locations.
J.P. Morgan Depositary Services Channel Islands acts as depositary to a range of investment vehicles across numerous client segments. The role of a depositary is to protect the interests of the shareholders and safeguard the fund’s assets in accordance with Jersey and Guernsey Regulations and the requirements of the respective regulators in both locations.
Reporting to the Regional Manager of Depositary Services for Ireland and the Channel Islands, this VP position is an opportunity for a suitable candidate to lead the Depositary Management team in the Channel Islands (Jersey & Guernsey), whilst based in Jersey
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, our other partners and stakeholders.
The Country DM is responsible and accountable for:
- Primary responsibility to the local Regulator, where appropriate the named Depositary Manager to the local Regulator.
- Maintain an up to date knowledge of regulatory, industry and client matters
- Responsible for Regulatory Compliance and Regulatory advocacy
- Primary client escalation point for all significant matters identified by Depositary
- 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
- 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
- Responsibility for all Legal Entity / Local Governance responsibilities for the Legal Entity / Location (including governance of risk issues, local SOPs and outsourcing arrangements).
- Partner with Functional, Location and Product Development leads to deliver on the Depositary Services Strategy, as required.
- Local reporting line management responsibility for all Depositary Services staff in the location
- Member of the DS New Business Management Group and DS-NBAF forum and sponsor / initiator of client changes, including product changes and on-boarding of new and incremental funds, and Approver of Location New Business Deals as required
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, and strong communication and influencing skills
- Strategic approach to management and team player
- Organised and structured approach to work to ensure timely closure of issues