User:A. Wielart/sandbox

Biography

Ashley Bacon, 48 years old, is the Chief Risk Officer of an American multinational investment bank and financial services company called JPMorgan Chase. Also, Bacon is a member of the firm's Operating Committee. In 2006, Bacon joined the Risk organization. From June 1st, 2011 to June 13th, 2013 Bacon served as a Deputy Chief Risk Officer before getting promoted to Head of Market Risk. Tasks of the CRO includes being responsible for the Risk Management and Compliance organization across the Corporate and Investment Bank, Consumer and Community Banking, Asset and Wealth Management, Commercial Banking and the firm's corporate activities. The most important thing Bacon provides is oversight of the firm’s risk taking activities that contain economic risks, such as credit, market, liquidity, principal, capital and country risks. Other risks as operational, compliance, legal, capital and reputational risks are also areas that Bacon focuses on. All the exposed risks determined by Bacon are reported to the Chairman and CEO Jamie Dimon and the Risk Committee of the Board. Fulfilling these responsibilities results in a yearly salary of 11 million dollars per year. Before joining JPMorgan Chase, Bacon traded international government bonds for Daiwa Securities. Now, Bacon has been working for the firm for 24 years in multiple locations across the world. He worked for in the offices of Tokyo, Singapore and London and performed tasks such as a variety of trading roles in bonds, swaps, financing, options and exotics, all within Rate Markets, while leading those regional businesses for the company. After joining the Risk organization, Bacon was assigned as CRO in order to clean up after the London Whale trading debacle in 2012, where JPMorgan Chase lost 6.2 billion dollars due to their trading strategy with derivative transactions involving credit default swaps.