JPMorgan Chase Consumer & Community Banking Compliance – Merchant Services: WePay & Platform Transformation - Executive Director in Redwood City, California
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. JPMorgan Chase & Co.is committed to providing a comprehensive set of benefits choices to meet different employee needs and lifestyles, which include choices such as fully paid parental leave time, health care insurance and retirement benefits.
The Compliance function assists management and staff in fulfilling their duty of compliance. The function provides a broad range of regulatory and compliance services and advice to all areas of JPMorgan Chase worldwide. Services include regulatory analysis of transactions and activities, formulation of regulatory and control policy, assistance in risk assessment, and new product development and implementation, assistance in the education of staff in regard to compliance policy and procedure.
Chase Merchant Services is the global payment processing business for JPMorgan Chase & Co. Chase Merchant Services is the world’s leading merchant acquirer with more than $1 trillion in annual transaction volume in 2017. Merchant Services is a leading provider of payment, fraud and data security for companies large and small and capable of authorizing transactions in more than 130 currencies. The consumer payments industry is rapidly evolving. Chase Merchant Services must continuously innovate and expand our products, geographies and technology to deliver world-class solutions for our clients.
Compliance Director – WePay & Platform Transformation
JPMorgan Chase recently acquired WePay, an online payment service provider based in the United States that provides an integrated and customizable payment solution through its APIs to platform businesses such as crowdfunding sites, marketplaces and small business software companies. The Compliance Director will support oversight and integration activities as WePay continues to grow and become an integral part of the JPMC family.
Merchant Services is also embarking on a multi-year journey to reinvent the core processing platforms on which they operate. These efforts require the innovative skills of a senior compliance professional who can advise on critical elements through the development lifecycle.
The individual will report to the Head of Compliance for the Merchant Services and will be responsible for the following:
Provision of pro-active advice to business management in the development of policies and procedures for the WePay business, designed to achieve and ensure compliance with corporate and regulatory requirements and corporate policies such as the Code of Conduct.
Promoting a strong Compliance culture throughout the WePay offices, establishing Compliance priorities with senior management and communicating these priorities effectively.
Conduct regular reviews to verify policies and procedures conform to the latest regulations.
Represent Compliance on Management Committee, Local Risk Committee and Local Operating Committee reporting on Compliance priorities and issues.
Conduct an annual Compliance monitoring program to verify policies and procedures conform to the latest regulations.
Assist in the preparation and delivery of compliance training and awareness program.
Identifying and investigating potential rule breaches, providing options available to manage and mitigate them and coordinating corrective action with other control functions as necessary/required.
Advice in respect of handling of errors, client complaints, potential rule breaches, etc.
Input into New Business Initiative Approvals involving business operations internationally, assessing Compliance/Regulatory issues/impact of proposed new products and services.
Keeping abreast of industry trends and “hot issues” and anticipate areas of focus and attention of regulators, keeping business management and Compliance colleagues informed
Strong knowledge of payments regulations and all related rules, guidelines and laws; previous interaction with a regulatory body.
Proven track record of banking experience with a strong working knowledge of Merchant Services products.
Attention to detail and control/quality awareness; excellent organizational and planning skills; experience and capability in developing policies and previous as well as competency in compliance training.
Outstanding interpersonal skills, especially the ability to communicate effectively at all levels, internally and externally, e.g. Regulators, Business Managers, Audit, Risk Management, Legal and other line of business and Compliance colleagues within the Region and globally.
Experience and comfort in working in an Agile environment
Advanced degree preferred
10+ years of relevant experience
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.