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CIB Operations (Derivatives Ops) - Foreign Exchange Settlements Specialist - Newark - Analyst

Req #: 180014246
Location: Newark, DE, US
Job Category: Operations
Potential Referral Amount: 0 US Dollar (USD)
J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries.
Derivative Operations provides operational support across the CIB covering eight key product areas including FX, OTC Derivatives, Collateral Principal, 3rd Party Derivatives, Cleared Derivatives, Agency Collateral, Billing and CASS with ~1,900 employees.  Services provided to our Businesses include:
  • Transaction Processing, Confirmation, Settlement and Clearing, Collateral Management, Client Service, Invoicing and CASS Support
  • Typical daily activity includes settling in excess of $217B via FX trading, leading a Markets OTC portfolio of 2.5M trades, servicing >200 3rd party clients, performing 10,000 margin calls, processing 470k cleared and intermediated trades and producing >9,000 invoices
Currencies Operating primary functions supported covered by the 200+ strong group include; Payment processing and controls, confirmation drafting issuance and matching, client service, economic affirmation, onboarding to electronic platforms, client money novation, regulatory governance and change management.
  • Service over 60,000 clients with over 400,000 discrete accounts
  • Manage payments to 135 different countries, Transact in 113 different currencies, out of 35 JPM entities
  • Manage > $2Trn of gross settlements on 500,000 transactions, in over 100 different products daily
  • Direct businesses supported generate >$4Bn of annual revenue
Newark. We’re right at home in Delaware, the world’s credit card capital. You could join over 5,000 employees in the state, who work at 13 different locations. We have designated Newark, DE, as one of our seven "strategic technology hubs" in the U.S., where we are expanding operations. We’re looking forward to our new Technology Center, which will feature modern furnishings and state-of-the-art collaboration tools. Come join us in Newark and be a part of our exciting future.
Team Description:
The Delaware team will provide comprehensive operational services to the Investment Bank's business across the globe, for FX and FX Options trading products. The department is very fast moving, with ever increasing volumes, there is always an opportunity to learn, increase knowledge, to take on more responsibility and where staff excellence is recognised through reward and promotion.
The Currency Operations (Foreign Exchange) settlements team is responsible for liaising with our client service to process settlement of Foreign exchange trades. This will include performing key checks as well as the input and verification of the settlement instructions of the trades. The team works from 9am to 7pm Eastern time, with staggered shift start times.
Key Responsibilities:
  • Day to day responsibilities involve processing client settlement instructions with currency deadlines
  • Identifying issues and investigating root cause.
  • Working with the client service teams to quickly and efficiently resolve client issues.
  • Initiating and participating in process improvement initiatives.
  • Ensure that any issues are escalated within an appropriate time frame
  • Performing key control checks including required as part of the settlement process.
Key Skills
  • Excellent time management skills are required.
  • Results-orientated
  • Capability to prioritize
  • Ability to process high volumes of transactions
  • Capacity to think laterally and understand the big picture
  • Ability to work under pressure with currency cut offs.
  • Take ownership and display the ability to follow through with departmental objectives whilst taking into account risks involved in daily processing.
•              Bachelors degree or similar work experience.
Experience Required
  • Experience in an operational / financial services / customer services environment.
  • Effective organisational skills with the ability to manage and prioritise workload whilst working as part of a team.
Experience (nice to have)
•              A good working knowledge of the IB funds transfer policy would be an advantage.
  • Knowledge of TSSFX would be useful as would Athena and IRFE.
FX & FXO experience is desirable, although not essential
Knowledge of payment formatting (MT103 / MT202) would be an advantage.
Happy to talk flexible working.
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
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