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CIB Operations (Derivatives Ops) - Collateral Principal - Delaware - Associate

Req #: 180014820
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
Collateral Principal Operations supports:
  • Collateral Management credit risk mitigation, client financing and fee based activity
  • Collateral Services supports a wide range of products: Derivatives, Forex, TBA, OTC Cleared, Prime Brokerage, Repos and Loans
  • Daily we generate and distribute margin calls; agree call amounts and collateral types; track and report call disputes, reconcile trading portfolios, monitor settlements and provide extensive regulatory reporting
  • On average we issue and settle ~4,000 collateral calls per day
  • Collateral balances held by JPM and pledged to the client range between $200Bn & $300Bn notional
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.
Location Description
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.
Job Description
Post the financial crisis, the financial services industry continues to evolve and re-invent itself, partly driven by global financial reform. At the forefront of financial reform are regulatory efforts to decrease systemic and counterparty risk with an aim at standardizing certain trading and risk management practices. In the middle of these efforts is the need to collateralize/margin transactions executed or cleared between financial firms. If you are interested in an evolving fast paced environment at the forefront of industry transformation, please join us!
The Collateral Services Team supports bilateral OTC derivative collateral requirements, centrally cleared OTC Derivative collateral requirements, and all related settlements. The Client Service Representative will deal primarily with buy-side clients (Hedge Funds, Investment Advisors/Asset Managers) and will develop partnerships internally with various Marketers/Salespeople, individuals in Prime Brokerage, Credit Executives, Middle Offices, and Line of Business Operations Teams.
Summary of Responsibilities
Successful candidates must be client focused, able to work independently under strict deadlines with limited supervision, be control oriented, as well as be responsible for the following:
  • Efficiently and accurately process both outgoing and incoming margin calls and provide transparency to the client on the margin call when necessary.
  • Ensuring all transfers agreed are eligible under the appropriate legal document.
  • Accountability for the uncollateralized credit risk of a subset of Investment Bank clients, with responsibility for identifying and escalating fails and disputes in a timely and accurate manner to Credit/Risk Management, Collateral Risk Management and Operations Management.
  • Responding to client inquiries, and when needed, coordinate with the appropriate Front/Middle Office as well as the core processing area in order to facilitate resolution.
  • Identifying and resolving client disputes related to both collateral and trade settlement discrepancies.
  • Risk Mitigation (Operational, Financial and Reputational)
  • Quality Client Service and Strong written and verbal communication skills
  • Maintaining and building excellent relationships with both internal partners and external clients.
Skills and Qualifications
  • Desire to work in a fast-paced environment.
  • Self-motivated, enthusiastic with a great appetite to learn.
  • Excellent relationship-building and good communication skills.
  • Excellent time management skills and the ability to organize and prioritize work in a busy environment with the ability to work under pressure and to deadlines
  • Pro-active approach to problem solving and developing solutions.
  • Understand the risks and adhere to the controls in place at all times.
  • Experience in an operational/financial services/customer services environment advantageous but not essential.
  • Previous exposure to financial products and derivatives instruments advantageous but not essential.
J.P. Morgan is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. J.P. Morgan Chase as a company provides an environment where leadership, excellence, integrity and diversity are among our core principles, and offers an exceptional benefit program and a highly competitive compensation package. For further information about J.P. Morgan Chase, visit our website:
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