Treasury Services (TS) - the world's largest cash management provider - moves, concentrates and invests client money. TS products include payments, collections, trade finance, investments, and information services that help companies manage working capital and liquidity. The business, which operates in more than 40 countries, is the world's largest U.S. dollar clearer, processing an average of $3.2 trillion in fund transfers each day. More than 135,000 corporations, financial institutions, governments and municipalities in over 180 countries and territories entrust their cash business to J.P. Morgan.
Transaction Services Treasury Payments team is part of the Global Clearing product management team and is focused on managing and developing JPMorgan’s Treasury products which include Treasury Payments, Timed and Priority Payments as well as Clearing House and Continuous Linked Settlement (CLS) settlement services. The team strives to make JPMorgan the world’s best Treasury Payments Bank while effectively managing the associated risks. Key to this is developing further our deep understanding of the Bank’s Intra-Day liquidity requirements so that these can be managed appropriately and evolves alongside external regulatory requirements.
This position is for a USD Product Manager for Continuous Linked Settlement Nostro service (CLS Nostro) and Clearing House Settlement Services (CHSS) within J.P. Morgan Treasury Services, Treasury Payments team.
Continuous Linked Settlement (CLS) is designed to eliminate settlement risk between FX counterparties and is operated by CLS Bank, an industry utility that is jointly owned by some of the largest banks/ FX exchange players. JPMorgan’s CLS Nostro service supports some of JPM’s largest USD clearing customers who are members in CLS bank but do not self-clear U.S. dollars. The CHSS service supports J.P. Morgan’s clients who are members of a clearinghouse or central-counter party (CCP) in meeting their settlement obligations such as margin calls.
This individual would interface with some of JP Morgan’s most valuable clients, central-counterparties (CCPs) and CLS Bank to ensure that these critical services are offered to clients while mitigating the risks associated with these products. The individual should have an inquiring aptitude to understand the key drivers of supporting the Treasury Payments business and to drive strategies to mitigate risk, enhance the P&L and create new business opportunities.
Knowledge of the securities clearing business and FX settlement is a plus.
This individual will responsible for managing Continuous Linked Settlement Nostro Service (CLS Nostro Service) and Clearing House Settlement Services (CHSS)
Managing all new client requests:
- Supporting all clients discussions and providing RFP responses on CHSS and CLS product inquiries
- Working closely with external clients and partners across LOBS: sales/service, tech & ops, risk, compliance, legal and other groups to ensure proper due diligence and review prior to presenting to stakeholders
- Assisting in discussions around resolution & recovery plans of JPM with key clearing house settlement clients
- Ensuring client-facing materials, agreements and internal job aids are accurate, up-to-date and position/protect appropriately
- Maintaining governance models for CHSS and CLS Nostro and drive ongoing reviews of clients
- Off boarding clients not meeting criteria or dormant accounts to maintain a clean, risk-managed product portfolio
- Spearheading annual diligence reviews with CCPs
- Monitoring CLS USD Nostro SIPs on a monthly basis, continue to identify opportunities to reduce cost
- CHSs global pricing initiative-review for consistent approach to ensure firm-wide relationships are priced appropriately.
- Work with Implementations to ensure set-up/ off boarding completed properly
- Reviewing and approving billing of CLS Nostro clients
Key Skills / Experience Required
The successful candidate for the role will ideally have strong communication skills, an attention to detail and an inquisitive nature, comfortable managing and analysing data with a strong interest or knowledge of the payments business, intraday liquidity and intraday credit and their drivers across multiple lines of business and the ability to transform this knowledge and expertise into business results.
Competent understanding and/or previous experience in relation to one or more of the following products:
· Corporate Treasury and securities clearing
· High Value (wire) transfers
· Liquidity Solutions (concentration and investment products)
· Working knowledge of the Treasury Services Operations, Technology, and Service model would be an advantage
· Development and documentation of all procedures, documentation, SLA's, client-facing materials and legal agreements
· Development of on-going executive management communications
· Risk management
Advanced proficiency is required as a minimum requirement for the following:
· Self-motivated and driven to achieve targets and deliverables
· Relationship building and influencing skills
· Communication skills – able to articulate / apply interpretation of metrics or business requirements across multiple business functions and at differing management levels
· Organisational skills and time management
· Presentation skills – written, visual, and verbal
· Leadership skills – able to bring multi-functional groups together to work towards a common goal