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CIB - Transaction Processing Manager - Associate

Req #: 180020857
Location: Bangalore East, KA, IN
Job Category: Operations
Potential Referral Amount: 50000 Indian Rupee (INR)


J.P. Morgan is a leading global financial services firm, established over 200 years ago:

o We are the leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.

o We have assets of $2.5 trillion and operations worldwide

o We operate in more than 100 markets.

o We have more than 243,000 employees globally.

Our wholesale businesses include J.P. Morgan’s Asset Management, Commercial Banking and the Corporate & Investment Bank which provide products and services to corporations, governments, municipalities, non-profits, institutions, financial intermediaries and high-net worth individuals and families. Our corporate functions support the entire organization and include the following functions: Accounting, Audit, Finance, Human Resources, Operations, and Technology.

J.P. Morgan in India provides a comprehensive range of Corporate & Investment Banking, Commercial Banking, Asset & Wealth Management, and Corporate functions services and solutions to our clients, executing some of the most important financial transactions and providing essential strategic advice to our clients such as the government, large domestic and multi-national corporations, non-government organizations and financial institutions and investors. India is a key market for JPMorgan Chase globally and our employees in India are a critical part of how we do business globally and are integrated within our businesses. Our Global Service Centers (GSCs) are strategically positioned in Mumbai, Bangalore and Hyderabad to support the firm’s operations regionally and globally. The centers provide comprehensive strategic support across technology and business operations processing to all lines of business and the corporate functions.

Hiring Manager :
Ashish Verma
Hiring Manager Title:
Vice President

 Background to the Role and Business Description
The Billing Operating Unit (India Operations) is a part of the JP Morgan India captive, the shared services center of JPMorgan, in India, established in 2002, has operations across Mumbai, Bangalore, and Manila and supports JPMorgan’s various Lines of Business across the entire spectrum of banking operations / activities.
The BOU is committed to providing operations of the highest quality and our integrated excellence to wide spectrum of banking operations within Corporate & Investment Banking Operations (CIB Ops)
Broad businesses under the BOU - India umbrella are Expense Management & Billing with various functions/processes Fees and Brokerage [Derivative Operations (Credit, Rates, Equities, Fixed Income, and Options), Currency Operations (FxOps), Brokerage Control etc.
The BOU focuses on building and maintaining strong relationship with clients and partner closely with technology, finance and representatives from lines of businesses to provide real time, world class service in a highly controlled environment.
Job Description
The Billing Operating Unit offers innovative solutions and services to various LOBs across multiple asset classes and geographies.  The unit maintains relationships with hundreds of clients worldwide. In addition to this J.P. Morgan is an industry leader in providing clearing, custody, operations, and technology and order execution capabilities to broker dealers worldwide.
The Billing Operating Unit - Expense Management Group is responsible for invoice management, validation/reconciliation, and allocation of charge to various LOB, Cost Centers, timely payment, NOSTRO Clearance, and MIS Reporting
The Billing Operating Unit – Billing Utility is responsible for invoice generation of transaction-related charges for OTC & PB clients
Expense Management  
The objectives of the BOU - Expense Management Group are:
  • Daily maintenance and reconciliation of the books and records of the J.P Morgan Clearing Corp, (JPMCC) relating to clearing activities and balancing of incoming and outgoing funds
  • Payments to counterparties and broker dealers
  • Reporting of any abnormal trade activity to Product Controllers/traders that is consistent with the Firm’s internal policies and procedures, and in accordance with Federal, State and New York Stock Exchange, Inc. (“NYSE”) regulations, as well as all other self-regulatory organizations of which the Firm is a member or to whose jurisdiction the Firm is subject.
The Department is responsible for:
    • Balancing all JPMCC  entities within the books and records processing stream
  • Balancing omnibus and suspense accounts
  • Bank and international product reconciliations
  • Monitoring international operations’ suspense accounts
  • Balancing JPMCC  inter-company trading accounts
  • Monitoring data processing charges allocated to select operational areas
  • Reconciling delivery-versus-payment account balances
  • Analyzing, accruing, allocating, and paying Electronic Communication Network (ECN) invoices
  • SEC Fees Direct payment & Non Direct payment
  • Analyzing, accruing, allocating, and paying international bank / floor brokerage / Stock Loan fees etc.
  • Creating weekly/monthly management reports
  • Special projects
  • Receivable and Payable functions for stock loans/borrows and Clearing Member Trade Agreements (CMTA) for options
More specifically, the Department’s activities include:
Control Management & Reporting Functions:
  • Omnibus account reconciliations of Continuous Net Settles (CNS)
  • The reconciliation of cash movement from JPMCC to JPMSI & JPMSL through the Firm omnibus accounts
  • Reconciling Daily Suspense Accounts – U.S. and currencies for operations and International and Custodial Trust Company or CTC)
  • Balancing of Bookkeeping Journal – U.S. and currencies
  • Daily balancing of Bank Accounts
  • CMTA – Receipt and payment of CMTA commissions and reconciling of receivable/payable accounts
  • Monthly booking of income/expense and reconciling stock loan/borrow accounts, daily reconciling of receivable/payable accounts
  • Notification letters to clients of cash and stock transfers
  • Reconciling security and NOSTRO positions/ transactions breaks for proprietary and Prime brokerage accounts by referring it to settlements/ Middle Office/ Agents systems/reports
  • Process invoices from external parties and resolve/escalate discrepancies to OU(Organization units)/Middle office
  • Process journal’s into firm/client accounts to resolve breaks & Reconciles cash flows through various systems and client accounts
  • Perform reconciliations with regards to client accounts in firms portfolio management system
  • Reconciliation over Geneva application versus JPMCC Books and Records positions and balances


Job Requirements
Roles & Responsibilities
Primary responsibilities include – process transactions and facilitate accurate and timely payment of invoices of various counterparties/brokers; meeting service levels, production workflows, and training.  Support the execution of strategic business initiatives, workflow design, and implementation of the department’s goals and objectives. Ensure that all company policies are followed and special projects are carried out in a competent and cost effective manner.  Build strong working relationships with functional managers and develop the product and business knowledge on Prime Brokerage and Clearing Operations for the team in Bangalore.
Ensure steady flow of completing daily tasks, gain expertise over the functions you are handling and appropriate backups in all servicing functions to Business Partners throughout JPMorgan Chase. Ensure quality assurance on critical functions. Maintain productivity standards and focus on providing best in class customer service to avoid unnecessary expenses associated with customer dissatisfaction.
  • Minimum Qualification – Graduates with a minimum of 7-12 years’ experience in a bank, financial services/ or other service sector environment or Qualified professionals (e.g. CA, ICWA, and MBA) with 3-5 yrs. relevant experience
  • People and resource management (e.g. people development, attrition, pipeline/skills monitoring, and training programs).
  • Manage the performance management cycle- Objective setting, development and career planning, performance appraisal and reward & recognition for the team.
  • Maintain effective Standard Operational Procedure
  • Improving and maintaining a controlled environment (e.g. necessary controls activities along process flow implemented, appropriate control tools in place, team members fully understand risks and related controls)
  • Manage relationship with internal teams, anticipate needs, take feedback, run conference calls.
  • Act as a point of contact for escalations and high priority requests from internal clients.
  • Send early warning reports if workloads impact turnaround time or quality parameters.
  • Take responsibility for the quality of work submitted and ensure that the highest standards are maintained.
  • Identify/ manage risk and control breakdowns.
  • Conduct regular team meetings (onshore and offshore staff), 1:1s, and coaching sessions.
  • Manage projects and other initiative as required.
  • Strong business knowledge i.e. Investment Banking, product knowledge in derivatives, fixed income, and equities.
  • Working knowledge on reconciling security & NOSTRO positions, TLM breaks; accounts payable and receivable, reconciliation etc.
  • Knowledge of accountancy, journal entries, general ledger, book keeping etc.
  • Working knowledge of industry systems like TLM (trade lifecycle management), E-PI (e-Serve Payments Initiation)
  • High level of attention to detail and ability to multitask
  • Ensure all day to day queries dealt with within required SLAs and escalate issues to the immediate manager
  • Maintain and publish, weekly, monthly KPI alongside Manager and participate in discussions with onshore management and teams
  • Can operate effectively in a dynamic environment with tight deadlines, and can prioritize team’s work to achieve them
  • Must be organized and have excellent follow-up and prioritization abilities
  • Analytical, problem solver and able to multi-task
  • Strong business writing and verbal English communication skills
  • Flexibility to work global hours and willing to travel globally
  • Knowledge of Prime brokerage / Clearing business and the regulations relevant to these business in the US/UK market
  • Strong Interpersonal skills. Should be able to communicate at all levels.
  • Behavioral skills, Leadership, Problem solving and time management
  • Strong planning, negotiation and analytical skills
  • Assertive and self-confident.
  • Encourage and practice efficient cost management
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