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JPMorgan Chase & Co. (NYSE: JPM) is an American global securities, investment banking and retail banking firm. It is a major provider of financial services, with assets of $2 trillion, and is the U.S. banking institution having the second largest market capitalization[2] and third largest domestic deposit base (behind Wells Fargo and Bank of America). The hedge fund unit of JPMorgan Chase is the largest hedge fund in the United States with $53.5 billion in assets as of the end of 2009.[3] It was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.
The J.P. Morgan brand is used by the Investment Bank as well as the Asset Management, Private Banking, Private Wealth Management, and Treasury & Securities Services divisions. Fiduciary activity within Private Banking and Private Wealth Management is done under the aegis of JPMorgan Chase Bank, N.A.—the actual trustee. The CHASE brand is used for credit card services in the United States and Canada, the bank's retail banking activities in the United States, and commercial banking. The corporate headquarters are in New York City and the retail and commercial bank is headquartered in Chicago.[4]
JPMorgan Chase is one of the Big Four banks of the United States with Bank of America, Citigroup and Wells Fargo.

The HR Business Partner is responsible for driving people agenda to the business organization in the areas of: (a) employee engagement, (b) performance management, (c) talent management, (d) compensation and benefits management, and (e) risk mitigation and compliance to regulatory requirements. This role is expected to have a strong understanding of the business and its needs that enables the development of an effective, efficient, and sustainable line-HR partnership that supports alignment to business strategy and contributes to the strengthening of the organizational culture, values, and long term growth.


Key responsibilities include:

· Employee Engagement
o Work jointly with line partners to understand, communicate, and implement plans, strategies and change initiatives as required by business needs and trends
o Partner with the business in driving and strengthening employee engagement initiatives that promote the strengthening of organizational culture and values
o Contribute to the analyses of results of organizational surveys/ employee satisfaction surveys and in the development of and driving initiatives as a result of the analyses
o Conduct exit interviews, analyze attrition data, and recommend strategies or programs to improve retention
o Communicate and implement HR policies and program in the line of business
o Conduct focus group discussions or SKIPs across levels as and when needed
o Participate in cross-functional HR projects

· Performance Management
o Partner with the business in ensuring timely and data-driven implementation of online performance management system
o Contribute in the review of the performance management system for continued relevance and appropriateness to the needs of the business
o Work jointly with line partners on preventing or addressing performance issues

· Talent Management
o Partner with the business in ensuring talents are acquired and developed
o Participate in the succession planning session of the business and provide objective and fair inputs in the process

· Compensation and Benefits Management
o Develop a strong understanding of the market and provide recommendations on compensation and benefits strategies/framework of the business
o Implement the annual compensation planning and review process in partnership with line managers through communication of the process and timelines
o Generate and analyze needed reports

· Risk Mitigation and Compliance to Regulatory Requirements
o Provide guidance to employees on HR policies and practices
o Conduct sessions with the line partners on continuing understanding of regulatory laws and Code of Conduct requirements
o Provide advice and guidance to line leaders on ensuring proper and timely implementation of the Corrective Action Policy and take the lead in the implementation of due process for defined levels of employee relations issues
o Generate periodic reports for the business unit, HR needs, and in compliance to regulatory requirements

Authorities and responsibilities

The committee will:
periodically review and approve a statement of the corporation's compensation philosophy, principles and practices.
approve the goals and objectives of the corporation relevant to the compensation of the Chief Executive Officer and any other Officer-Director (the "Officer-Directors"); evaluate the Officer-Directors in light of those goals and objectives; and determine the compensation for the Officer-Directors based on this evaluation (subject to ratification by the independent directors of the Board). In determining the long-term incentive awards for the Officer-Directors, the committee seeks to further align the interests of the Officer-Directors with stockholders and considers the corporation's performance and relative shareholder return, the awards given to the Officer-Directors in past years, the award practices of the relevant peer group of competitive financial institutions and the committee's assessment of the current and expected contribution of the Officer-Directors to the corporation's success.
periodically review diversity programs; evaluate the performance of key executives; review the succession plan for key executives, including the Chairman and the Chief Executive Officer; and make recommendations to the Board regarding key executives.
approve all salary, bonus, and long-term incentive awards for Officer-Directors (subject to ratification by the independent directors of the Board) and for Section 16 officers; and approve and administer the key executive 162(m) plan, including establishing performance goals and certifying that performance goals have been attained. If it is deemed desirable to retain an independent consulting firm to assist in determining executive compensation, the committee shall have sole authority to retain and terminate any such firm, including the approval of fees and terms of such retention.
approve the annual award totals under the Long-Term Incentive Plan and approve the terms and conditions for each type of award. The Director Human Resources, with the concurrence of an Operating Committee member, can approve Long-Term Incentive Plan awards to prospective hires and to current officers for retention purposes (except for Section 16 officers). Awards to new hires who will be Section 16 officers require approval by the committee chair with subsequent notification to the committee. The committee chair will determine if the entire committee should approve such awards at the time of hire.
review and recommend employee equity-based plans to the full Board.
approve the overall bonus pool for the corporation.
review the corporation's compensation practices and the relationship among risk, risk management and compensation in light of the corporation's objectives, including its safety and soundness and the avoidance of practices that would encourage excessive risk; for this purpose, the committee will meet not less than annually with the corporation's Chief Risk Officer and other management, and will also meet with one or more members of the Risk Policy Committee of the Board of Directors.
review and approve changes in the corporation's qualified benefit plans that result in a material change in costs or the benefit levels provided.
appoint the Named Fiduciaries and the Plan Administrator for employee benefit plans subject to ERISA; approve the Fiduciary Rules; approve the compensation for any Named Fiduciary who is not an employee; and receive reports from and oversee the Named Fiduciaries.
review and discuss with management the Compensation Discussion and Analysis and approve the Compensation & Management Development Committee report to be included in the corporation's annual proxy statement.
approve the delegation of authority to the Director Human Resources or other appropriate officer to administer and amend the corporation's compensation and benefits programs, including the authority to interpret the program in individual cases when appropriate.
review, at least annually, the committee's charter and recommend any proposed changes to the Board for approval. The Compensation & Management Development Committee shall prepare, and report to the Board the results of, an annual performance evaluation of the committee, which shall compare the performance of the committee with the requirements of this charter.

JPMorgan Chase believes that responsible corporate citizenship demands a strong commitment to a healthy and informed democracy through civic and community involvement. Meaningful involvement requires JPMorgan Chase to be an effective participant in the legislative and regulatory process and to support the electoral process by making prudent political contributions. Our business is subject to extensive laws and regulations at the federal and state levels, and changes to such laws can significantly affect how we operate, our revenues and the costs we incur. Because of the potential impact public policy can have on our businesses, employees and communities, we proactively engage in the political process in order to advance and protect the long-term interests of the Firm and its constituents.

Political Contributions and Legislative Lobbying

JPMorgan Chase is regularly involved in a number of legislative and regulatory initiatives in a broad spectrum of policy areas that could significantly affect our operations and results. We regularly express our views and concerns to public officials. Our objectives include monitoring current legislative activities, analyzing trends, and supporting and promoting advancement of public policies to benefit the Firm and its constituents over the long term.

Federal political contributions to candidates, political party committees and political action committees are made by the Firm’s political action committees (PACs), which are not funded by corporate funds, but are supported entirely by voluntary contributions made by employees. At the state level, the Firm from time-to-time makes political contributions to candidates and political parties where permitted by law. Generally, we look to support candidates and parties or committees whose views on specific issues are consistent with the Firm’s concerns and long-term goals and/or who represent communities we serve. Additional criteria we consider when making specific decisions include elected leadership positions, legislative committee positions, and voting record. In the Citizens United Case, the United States Supreme Court extended the ability of corporations to make independent campaign expenditures at the federal level. The Firm has no plans to change our political contributions policies as a result of this decision.

Compliance and Oversight

All political activities conducted by or on behalf of the Firm are managed by the Government Relations and Public Policy department (Government Relations), headed by an Executive Vice President who is a member of our Executive Committee. The head of Government Relations is responsible for the department’s policies, activities and legal compliance, upon advice of the Firm’s legal counsel and Compliance Department and subject to oversight by the Public Responsibility Committee. Government Relations regularly reports its activities to the Public Responsibility Committee. The Public Responsibility Committee reviews the direction and allocation of resources by Government Relations, political contributions made by the Firm and PACs, and major lobbying priorities. This organization and leadership helps us focus the Firm’s efforts on those public policy issues most pertinent to the long-term interests of the enterprise overall and to its clients and shareholders.

The JPMorgan Chase Code of Conduct requires that Government Relations review and approve all requests for Firm support of political events, political candidates and their campaigns, political parties, or political committees, all political contributions proposed to be made by or on behalf of the Firm, and all lobbying activities, including retention of outside lobbyists. The Firm’s employees have the right to participate in the political process by making personal contributions from personal funds, subject to applicable legal limits. However, as stated in the Code of Conduct, employees cannot be reimbursed or otherwise compensated by JPMorgan Chase for any such contributions. All employees are required to comply with the Code of Conduct and any Firm policies applicable to their business unit, such as those relating to Municipal Securities Rulemaking Board Rule G-37 in connection with the Firm securing municipal securities business.

JPMorgan Chase is fully committed to complying with all applicable laws concerning political contributions, including laws requiring public disclosure of such contributions. Contributions made by the PACs are, as required by law, reported in filings with the Federal Election Commission and the relevant State election commissions and are publicly available. Corporate political contributions at the state level are publicly disclosed by us or by the recipient in accordance with applicable state and local law.

Kenneth R. Feinberg, the Obama administration’s special master for executive compensation, reviewed over the past five months compensations paid to the 25 highest earners of 419 banks between October 2008, when the first US Troubled Asset Relief Program funds were dispensed, and February 2009, when the stimulus bill took effect. Kenneth Feinberg said he immediately excluded most of the 419 companies from his examination because they said they didn't pay any executives more than $500,000, but he wound up citing 17 banks for making troublesome payments. 11 of the 17 banks making troublesome payments have already repaid the government for money they borrowed under TARP.

Mr. Feinberg determined that banks paid out $1.6 billion in unwarranted bonuses, retention awards, stock grants and "golden parachute" retirement packages to their top earners at the height of the financial crisis.

JPMorgan Chase & Co., the financial holding company located in New York, is among the 17 companies. Another of the other 16 companies was Citigroup, which was reportedly identified for having the most egregious compensation packages, according to government officials with knowledge of Mr. Feinberg’s report. Citigroup reportedly handed out several hundred million dollars in pay in 2008 as it neared collapse. Nearly two-thirds of the payouts amount to Andrew J. Hall, owner of a nearly 1000 year old German Medieval Castle, who reportedly received a payout of more than $100 million in connection with spin-off of Citigroup’s Phibro energy trading unit for $370 million to Occidental Petroleum in 2009.

In most cases the banks told Feinberg that they were obligated by employment contracts to pay the bonuses and other compensation, but Kenneth R. Feinberg said to reporters that those 17 companies exercised "poor judgment" for making the $1.6 billion in "ill-advised payments" to their top paid employees shortly after accepting TARP funds from the federal government. "They shouldn't have made these payments,'" Feinberg told reporters. "They were ill-advised. They were troublesome."

According to the investigation by a law firm the investigation on behalf of current long term investors in the JPMorgan Chase & Co. (NYSE:JPM) stock focuses, among other things, on possible shareholder claims that certain of JPMorgan Chase & Co. senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years. Certain senior officers and executives at JPMorgan Chase & Co were awarded salaries, bonuses, stock options and other forms of long-term, ‘incentive’ or retirement compensation that were, so the investigation, excessive or unwarranted based on the JPMorgan Chase & Co. performance.

James Dimon, chief executive officer of JPMorgan Chase & Co., received in 2007 a salary of $1 million plus $14.5 million bonus and $13 million in stock awards or $109.96million in 5year total compensation, while JPMorgan received $25billion in TARP Funding.

The investigation by the law firm focuses on claims that the prior compensation awarded at the JPMorgan Chase & Co. (NYSE:JPM) is now clearly improper based upon its current operating condition.

JPMorgan Chase & Co., which reported in 2007 Net Income of $15.365billion, lost in 2008 2/3 of its Net Income and could only report a decreased Net Income of $5.605billion. Even though JPMorgan Chase & Co. was able to increase its Net Income in 2009 to $11.652billion over its Net Income in 2008, it wasn’t able to reach its 2007 Net Income. JPMorgan Chase & Co. Net Income of 2009 is still about 25% lower than its 2007 Net Income. Shares of JPMorgan Chase & Co. (JPM) traded in 2007 as high as $52.54 per share, but lost in 2008 more than 50% of its value to$22.72 per share. JPM stock traded as low as $15.93 per share in 2009, lower than its low in 2002 and as low as in 1995. Recently JPM shares were able to recover from its 2009 low and traded at $39.88 per share. J.P. Morgan Chase & Co. was already involved in several other lawsuits. For instance, on April 10, 2009, investors filed a lawsuit in in the U.S. District Court for the Southern District of New York on behalf of investors who acquired Mortgage Pass-Through Certificates of J.P. Morgan Acceptance Corporation I pursuant and/or traceable to an alleged false and misleading Registration Statement filed on March 27, 2007, along with an alleged false and misleading Prospectus Supplements filed during February through April, 2007, each of which were expressly incorporated by reference into the Registration Statement. Another lawsuit was filed on July 10, 2009, against J.P. Morgan Chase & Co. in the U.S. District Court for the Southern District of New York on behalf of investors, who purchased between July 10, 2004 and February 13, 2008, certain auction rate securities for which J.P. Morgan Securities Inc. served as sole auction dealer, lead auction dealer, co-lead auction dealer, or joint lead auction dealer. The investors allege violations of the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934

Finally and most importantly the investigation focuses also on possible claims that would allow JPMorgan Chase & Co. (NYSE:JPM) stockholders to influence or control future compensation decisions at JPMorgan Chase & Co.
 
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