Liquidity Risk and Interest Rate Risk Analyst

London, United Kingdom
09 Oct 2021
15 Oct 2021
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
JPMorgan Chase & Co .

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 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. Information about JPMorgan Chase & Co. is available at

What it Means To Work Here

Here, you'll feel welcomed and valued. Our clients, transactions, deals and projects are global so we work hard to create diverse, inclusive teams that support our business and each other. Learn about our culture here.

Our Team

Chief Investment Office , Treasury and Corporate (CTC) Risk manages the risk of the retained portfolio generated from the Chief Investment Office (CIO), Global Treasury, and "other" Corporate businesses (Firm-wide Pension Plan, Insurance programs, and Mortgage Servicing Rights).

CIO manages the firm's structural interest rate and foreign exchange risks, and conservatively invests the firm's excess deposits. Interest rate risk is managed primarily via investment securities and interest rate derivatives as tools to manage the firm's asset liability mismatch. The firm's non-USD foreign exchange risk is managed through specifically defined hedging mandates. The CIO also manages the JP Morgan Retirement Plan and hedges the firm's Mortgage Servicing Rights.

Treasury manages the firm's capital, balance sheet, liquidity and funding strategy and positions, including short dated and secured funding, debt and capital issuance and buybacks, and liquidity risk management, as well as the company's rating agency relationships and corporate insurance activities.

CTC Risk is also responsible for Firmwide Liquidity Risk and Interest Rate Risk Management.


CTC seeks to hire an Analyst to join its UK Assets & Liabilities Management (ALM) Risk function. This individual will be responsible for liquidity and structural interest rate risk related matters, including monitoring, forecasting, reporting, policy setting and risk management for a number of legal entities in the EMEA region. The independent ALM Risk group partners with other internal risk groups, Corporate Treasury, as well as senior management, to formalize funding strategies through normal and stress market environments. In addition, the team will frequently interact with external regulators. The position offers opportunities to gain visibility into various market products, risk metrics and processes, and increase understanding in firm wide company initiatives.
  • Participate in assessment of structural interest rate risk arising from asset-liability mismatch(ALM) through investment securities and interest rate derivatives
  • Identify, analyze and assess the impact of specific market events or trends on the current and projected balance sheet and income statement of the Bank
  • Assisting the development of Net Interest Income (NII) strategy and NII optimization for CIO and Treasury
  • Monitoring Economic (EVE) and Earnings based measures(EaR) for IRRBB
  • Identify, assess and monitor liquidity risks related to the Firm's business activities including banking (deposits, loans, commitments, etc.) and non-banking balance sheet (unsecured funding, secured funding, lending, prime brokerage, derivatives, etc.)
  • Analyze sources and uses of liquidity on a firm wide and legal entity level, including understanding firm's businesses and products
  • Deep dive on specific Legal-Entity/Line-of-business/specific-product/market-moves to analyze potential risks
  • Conduct reviews of the regulatory requirements for the Liquidity Coverage Ratio and Net Stable Funding Ratio
  • Develop and implement liquidity risk governance policies and procedures, with a focus on liquidity risk stress testing, scenario design, and liquidity risk measurement
  • Contribute to the definition of risk policies, procedures and overall governance, in order to efficiently manage the risks, both in business-as-usual and in stressed conditions
  • Oversee the monitoring and evaluation of existing risk limits
  • Provide independent review of regulatory and internal stress scenarios, including analytical review of key market and behavioral assumptions and management of ad hoc analysis; support the development and execution of stress and back-testing processes
  • Regular contact and exchange with other departments (i.e. within CTC Risk), other LOB's and stakeholder management
  • An undergraduate degree is required. A professional qualification such as CFA or FRM is a plus
  • Understanding of Bank's B/S items, central banks monetary policy actions; required to follow market news, macroeconomic and political developments and asset prices closely
  • Excellent oral and written communication skills
  • Ability to work under pressure
  • Strong technical skills in Excel, Word and PowerPoint. Other skills in Python, Alteryx, VBA and Bloomberg preferred
  • Strong analytical and critical thinking skills, as well as a high level of self-initiative required, including an ability to balance and execute multiple projects at once and deliver results under tight time constraints
  • Demonstrated ability to work effectively and independently across different businesses and functional areas
  • Strong critical thinking skills, with thorough attention to detail
  • Understanding of balance sheet analysis especially for Banks for traditional banking and complex non-banking products, preferred
  • Understanding of Liquidity and interest rate risk in the banking book (IRRBB) requirements under Basel III requirements preferred

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