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Memorial Day is an opportunity for everyone to honor and remember those who lost their lives while serving to protect our freedom. To honor the day and those who served, we sat down with Mark Elliott, Global Head of Military and Veterans Affairs at JPMorgan Chase, to discuss the bank’s talent and hiring efforts, barriers Mark has overcome and what he’s looking to accomplish this year.
1. What is top of mind for you this Memorial Day and what might the bank be doing to honor the day?
At JPMorgan Chase, it is our honor and privilege to support Carry The Load (CTA), a nonprofit organization that provides active ways to connect individuals to the sacrifices made daily by the nation’s military, veterans, first responders and their families. CTA’s 20,000-mile National Relay across America and beyond honors and remembers the nation’s heroes. For nine years, our support of CTA reflects our ongoing commitment to the veteran and military communities.
2. Tell us more about what the bank is doing to support the military community, including its talent and recruitment efforts.
JPMorgan Chase has a longstanding commitment to supporting veterans, military service members and their families. For more than a decade, we’ve been committed to developing programs and initiatives aimed at positioning military members, veterans and their families to thrive in their post-service lives, focused on attracting, retaining and developing diverse veteran talent, supporting veteran- and military spouse-owned businesses and entrepreneurs and increasing financial health.
We have experienced firsthand the immense value, diverse talent and commitment that the military community brings to our business, and are working to increase veteran and military spouse hiring and development, both inside and outside of the bank. Since 2011, we have hired more than 18,000 veterans and currently employs approximately 3,000 military spouses.
We also lead the Veteran Jobs Mission, a coalition co-founded by JPMorgan Chase and 10 other companies in 2011, with the goal of hiring 100,000 veterans. Since its founding, the coalition has reported over 900,000 veteran hires by more than 300 member companies representing various industries across the U.S..
As part of our commitment to the personal and professional development of service members, we’re also dedicated to providing job placement opportunities through our Military Pathways Rotational Programs, which provide personal and professional development trainings, a formal mentorship program, programmatic support to participating managers and program members and robust networking opportunities.
3. What barriers have you overcome in your career and how do you apply that in your current role?
Having served in the U.S. Army for 28 years, I know firsthand that transitioning from the military into the corporate sector isn’t easy. There’s no “how-to” guidebook for leaving your tightly-knit military family and assimilating into corporate culture.
Thankfully, I had valuable exportable skills that set me up for success. But I also had a strong support system, including a senior sponsor, an amazing manager and a supportive team and colleagues at JPMorgan Chase.
4. We’re now halfway through 2023, what are you looking to accomplish by the end of this year?
We’re committed to continue honoring those who have served and supporting their long-term personal success and financial confidence. Much work still remains to be done as issues surrounding retention and underemployment continue to impact both veterans and military spouses, and with over 200,000 service members predicted to separate from the military each year, this presents an opportunity to continue our efforts to support veteran and military spouse-owned businesses by enabling access to financial services, capital and resources.
This year, we’re hosting two major events in collaboration with veteran and military service organizations – our second annual VetVC Summit in June in New York City and our Military Spouse Summit, aimed at supporting and connecting entrepreneurs in the military community and helping them to grow their businesses and thrive. We will also continue to provide tools and resources to help improve the financial health of veterans, military spouses, and their families, as well as support these communities through public and private sector partnerships and collaborations with veteran and military service organizations.
For more information on JPMorgan Chase’s Military & Veterans Affairs initiatives, visit jpmorganchase.com/impact/people/military-and-vets.