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Category Manager - Brokerage, Clearing & Exchange (BCE)

Req #: 180010324
Location: Jersey City, NJ, US
Job Category: Admin & Facilities Services
Potential Referral Amount: 5000 US Dollar (USD)
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at http://www.jpmorganchase.com/.
 
Global Supplier Services (GSS) mission statement is to efficiently and collaboratively deliver value between JPMC & external suppliers in a manner that mitigates risk, enhances performance and manages expense by driving the end to end Source-to-Pay Life cycle.
 
This role reports into the newly created Global Efficiency and Brokerage Sourcing function based in London which was established to challenge the BCE expense profile of the Markets business which currently accounts for almost $1.6bn in annual charges. The remit of the group is to drive execution cost efficiency through rate negotiations, demand management analysis and operational re-engineering globally, with initial focus on the expense profile in OTC brokerage, Cash Equity Exchanges and Client Connectivity. As enhanced transparency is built out across the Markets BC&E expense base, additional focus on Commodities, F&O and Agent Bank charges will come into scope.
 
The role will involve extremely close collaboration between NAMR, EMEA and APAC to ensure the groups over arching expense reductions targets are being met while also having close collaboration alongside 2 other streams within the Brokerage, Clearing & Exchange (BC&E) world which are:
  • Trade Expense Analytics – Responsible for producing Trading Expense Analytics via trade cost calculators to facilitate expense transparency
  • Operations & Finance – Responsible for the reconciliation and payment processing of all BC&E invoices alongside the accrual and allocation functions which ensure the trading businesses and traders are accurately viewed from a net P&L perspective
 
Across the 3 streams, we look at all areas of Trading Expenses including supply management, demand management, expense reporting, analysis and control with strategic MIS and data transparency a key deliverable.
 
Roles & Responsibilities:
  • Develop strong working relationships with the New York based Business Managers across Macro, Equities and Credit to understand their business drivers and be proactive in suggesting areas of potential saves 
  • Ensure NAM based 3rd Party vendor relationships are consistent with GSS strategic priorities
  • Deep dive into OTC Brokerage and initiation of save projects based on the results of the review
  • Collaborate with the Equity Business to review Client Connectivity expenses while challenging line connections which aren’t profitable or in use
  • Work with Finance to track save reductions through to the financials
  • Work with Operations to ensure updated rate cards are inserted into the India reconciliation process  and are adhered too by the brokers
  • Achieve annual saves targets
  • Collaborate with the GMI Execution Venue team to ensure all relevant NAM based Execution Venues are captured for future Relationship Management
  • Ensure BCE vendor contracts are up to date in GSS SPARC contract system
  • 7+ years experience within Investment Banking Industry
  • Good working knowledge of BC&E category would be advantageous
  • Excellent Internal client and stakeholder management experience
  • Strong product knowledge across Fixed Income and Equities preferred
  • Ability to work well independently with little oversight in a fast paced environment
  • Ability to multi-task and manage several projects at any one time
  • Excellent written and oral skills including the ability to present projects and proposals to senior stakeholders within the Front Office, GSS, Operations and Finance
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