Full-Time
Financial Controller
Associate
Posted on 3/27/2025
JP Morgan Chase
10,001+ employees
Global financial services and investment banking
No salary listed
Mid
Newark, DE, USA
- Bachelor’s degree required
- Minimum of 3 years of related experience
- General Ledger accounting experience
- Experience with financial reporting and month end close responsibilities
- Understanding of Financial Products
- Comfortable liaising with business and risk managers
- Able to build and maintain partnerships within the various product aligned businesses and across other corporate financial, treasury, and accounting groups
- Able to understand business drivers and requirements and influence middle and front office partners to deliver solutions to business issues and problems
- Strong analytical skills: Ability to quickly understand workings of a complex processing system and general ledger systems across the infrastructure and their interrelationships and dependencies
- Excellent desktop/spreadsheet/database skills and excellent organizational and problem-solving skills, verbal and written communication skills
- Able to multi-task in a constantly changing environment
- Ability to critically challenge with the goal of identifying control issues
- Ensure the accuracy and validity of line of business general ledger balance sheet accounts, including adherence to the firmwide General Ledger Attestation (GLA) standards
- Ensure adherence to P&L and Balance Sheet controls owned by Financial Control, including identifying and implementing opportunities for efficiency
- Analyze, communicate, and resolve material variances between the general ledger and upstream systems, as defined by line of business
- Work closely with various line of business controllers, middle office, business managers, technology and operations
- Understand end-to-end flow of trading activities, booking models, product configurations, and trade economics to apply relative accounting policies and enhance control framework
- Ensure the integrity and accuracy of line of business income statement and balance sheet at month, quarter, and year-ends
- Engage in line of business initiatives and projects, be the financial control subject matter expert and have the ability to proactively identify process and/or infrastructure enhancements and work with stakeholders to enact change
- Oversee preparation of the firm's primary financial statements at quarter-end for use in the earnings release and Securities Exchange Commission filings
- Control post-closing entries and consolidation adjustments and Perform various control procedures to ensure the integrity of reported financial results
- Manage intercompany eliminations, a key component of the financial consolidation process
- Enhance the overall control environment around the financial reporting function and Mobilize change wherever possible in order to simplify processes, enhance controls and create efficiencies
JPMorgan Chase & Co. provides a wide range of financial services to individuals, small businesses, corporations, governments, and institutions across more than 100 markets worldwide. Its services include investment banking, asset management, financial transaction processing, and consumer banking, which encompasses personal banking, mortgages, credit cards, and auto financing. The company utilizes its extensive expertise and proprietary data to deliver high-quality financial products and services, generating revenue through interest income, service fees, and commissions from trading activities. What sets JPMorgan Chase apart from its competitors is its commitment to integrity, service, and community development, as seen in its initiatives to support veterans and strengthen local communities. The company's goal is to provide comprehensive financial solutions while also contributing positively to society and offering valuable economic insights through the JPMorgan Chase Institute.
Company Size
10,001+
Company Stage
IPO
Headquarters
New York City, New York
Founded
1959
Simplify's Take
What believers are saying
- JPMorgan's net interest income could increase by $1 billion this year.
- The firm is increasing its crypto exposure through exchange-traded funds (ETFs).
- JPMorgan executed its first structured transaction on a public blockchain.
What critics are saying
- Increased crypto exposure could pose risks if the market experiences a downturn.
- Allowing Bitcoin purchases without custody services may expose clients to third-party risks.
- Geopolitical risks could affect JPMorgan's global operations and market stability.
What makes JP Morgan Chase unique
- JPMorgan Chase has a 200-year history in global financial services.
- The firm offers a wide range of services, from investment banking to consumer banking.
- JPMorgan Chase is committed to social responsibility and community development initiatives.
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Benefits
Health Insurance
Flexible Work Hours
Paid Sick Leave
Paid Holidays
Company News
JPMorgan Chase CEO Jamie Dimon said Monday (May 19) that the markets have not accounted for the risks of inflation, stagflation, credit spreads, tariffs and other challenges. Dimon said at the bank’s investor day that the chances of inflation and stagflation are greater than people think; credit spreads haven’t accounted for a potential downturn; the impact of tariffs is difficult to predict; and geopolitical risks are high, Bloomberg reported Monday. The report said markets have recovered from declines seen when the Trump administration announced tariff policies and when Moody’s Ratings downgraded the country’s credit rating from its top level
JPMorgan Chase & Co. has made the first attempt to sell buyout debt that got stuck on Wall Street balance sheets due to tariff turmoil.
JPMorgan Chase CEO Jamie Dimon said Monday (May 19) that the bank now offers its clients access to bitcoin.Dimon announced this at the bank’s annual investor day, while reiterating his own skepticism about digital currency, CNBC reported Monday.“We are going to allow you to buy it,” Dimon said, per the report. “We’re not going to custody it. We’re going to put it in statements for clients.”Dimon added that he remains concerned about issues around bitcoin, such as money laundering, lack of clarity in terms of ownership and use in illicit activities, according to the report.“I don’t think you should smoke, but I defend your right to smoke,” Dimon said, per the report. “I defend your right to buy bitcoin.”It was reported in December 2023 that Dimon had been a vocal critic of cryptocurrencies for some time and that he told a Senate Banking Committee hearing that if he had the power, he would shut down the entire industry.While he criticized cryptocurrencies, he had different views on blockchain technology, and JPMorgan actively embraced that technology for various projects, including the development of its proprietary stablecoin, JPM Coin.The Federal Deposit Insurance Corp. (FDIC) provided new guidance March 28 saying that FDIC-supervised institutions can engage in crypto-related activities without receiving prior FDIC approval, provided they adequately manage the associated risks.Previously, under guidance that the FDIC rescinded, the agency required prior notification of crypto-related activities.“With today’s action, the FDIC is turning the page on the flawed approach of the past three years,” FDIC Acting Chairman Travis Hill said at the time in a press release. “I expect this to be one of several steps the FDIC will take to lay out a new approach for how banks can engage in crypto- and blockchain-related activities in accordance with safety and soundness standards.”Institutional adoption of digital assets like cryptocurrencies and tokenized securities is seen as inevitable, although risk remains an obstacle, PYMNTS reported May 13.The new wave of adoption is being led by highly regulated institutions, which are grappling with the core question of risk across the blockchain
JPMorgan CEO Jamie Dimon said the Wall Street lender plans to offer Bitcoin (BTC) to its customers in a stark shift from his historical stance toward the digital asset.During JPMorgan’s Investor Day, Dimon reiterated that he is “not a fan” of Bitcoin, but acknowledged that clients will continue to demand access to it. He said:“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin.”He also clarified that the bank does not plan on offering custody services.Dimon maintains skepticismDimon’s criticism of crypto is consistent with past remarks. In a January interview, he called Bitcoin “worthless.” He tied it to criminal activity, repeating concerns raised in his 2023 Senate testimony, in which he advocated for shutting down the industry altogether. At the 2024 World Economic Forum in Davos, he referred to Bitcoin as a “pet rock,” while in April of the same year, Dimon called crypto a “Ponzi Scheme.”In his May 19 remarks, he also stated that “blockchain doesn’t matter as much” as people think. However, JPMorgan has continued to build infrastructure around blockchain technology for institutional use.Earlier this month, Kinexys completed a test transaction that bridged its private network to a public layer-1 blockchain, using tokenized short-term Treasury assets and real-time settlement protocols. Chainlink and Ondo Finance participated in this pilot.Additionally, Kinexys processes over $2 billion in transactions daily and plans to scale up dollar-euro settlements using JPM Coin, JPMorgan’s proprietary token.JPMorgan increases crypto exposureAmid the remarks on Bitcoin offering, JPMorgan’s 13F filing with the US Securities and Exchange Commission (SEC) for the first quarter of 2025 showed a dramatic increase in crypto exposure through exchange-traded funds (ETFs).As of March 31, the firm reported $16.3 million in crypto-related holdings, up from $1 million at the end of 2024. The lender’s crypto exposure is primarily via Bitcoin and Ethereum-linked instruments.As of March 31, JPMorgan held a little over 263,000 shares of BlackRock’s iShares Bitcoin Trust (IBIT) and around 3000 shares of Bitwise’s spot Bitcoin ETF (BITB).The lender also held shares of Grayscale’s Bitcoin Trust (GBTC) and Mini Trust ETFs, Fidelity’s Wise Origin Bitcoin Fund (FBTC), and new allocations to Bitwise and Franklin Templeton Ethereum products.The firm’s crypto-related holdings are just a tiny fraction of its $4.4 trillion in assets under management at the end of the first quarter.It’s unclear how much of the portfolio reflects proprietary positioning versus facilitation of client demand. The bank has previously clarified that holding some ETF allocations could be a part of its market-making services.Mentioned in this articlePosted In: Bitcoin, Ethereum, BlackRock, Grayscale, US, Adoption, Banking, Crypto, ETF, Featured, TradFi
In a significant policy shift, JPMorgan Chase CEO Jamie Dimon reportedly announced today that the bank will allow its clients to buy Bitcoin. This marks a notable departure from its historically critical stance on Bitcoin and cryptocurrency overall.Is JPMorgan Changing Its Stance on Bitcoin?Speaking at JPMorgan’s 2025 Investor Day, Dimon stated that while he personally remains skeptical of Bitcoin, the bank will facilitate client purchases of the digital asset. However, JPMorgan will not offer custody services for Bitcoin, requiring clients to manage storage through third-party providers.This development reflects a broader trend of increasing institutional engagement with digital assets. The investment banking giant has consistently criticized crypto, labeling Bitcoin a “fraud” in 2017 and a “Ponzi scheme” earlier this year. There are even rumors that previously, Dimon threatened to fire employees who traded Bitcoin. The changing tone and decision reflect growing client demand and the evolving financial space.Also, the move aligns with JPMorgan’s recent blockchain initiatives. Recently, the firm executed its first structured transaction on a public blockchain in collaboration with Ondo Finance and Chainlink. As Bitcoin’s price hovers around $105,000, nearing its all-time high, JPMorgan’s policy change may signal a new era of mainstream financial institutions embracing cryptocurrency.The bank will allow Bitcoin transactions but not store digital assets for clients. So, external custody solutions are still required for safekeeping