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Operation Analyst

Req #: 180026671
Location: New York, NY, US
Job Category: Operations
Potential Referral Amount: US Dollar (USD)

JOB AND TEAM DESCRIPTION

 

Differential Discounting (DD) Collateral team is part of the Regulations, Efficiency and Infrastructure (REI) group and the wider Credit Portfolio Group (CPG) business. DD Collateral is primarily responsible for managing and optimizing the funding costs arising from JPMs derivative collateral exposure.  DD Collateral provides guidance on the funding value of derivative collateral and works with the Finance desk and settlements in order to meet our daily collateral requirements.

 

CPG Middle Office is part of the Macro Middle Office Organisation, and supports multiple functions including MO Support for hedging activity across all asset classes, maintaining the Differential Discounting process (end to end), supporting Risk Management activities (client renegotiations, NCMR projects and the NCMR DNT Service along with multiple CPG initiatives

DD Collateral is supported as part of the CPG Middle Office.

The role will focus on the DD Collateral Support relating to financing and collateral flows, but will expand into the derivative side of the business and CSA related work.

 

DAY TO DAY SUPPORT.  Own end to end and solve all day to day collateral issues while raising only critical items to CPG DD Collateral trading. 

 

Bridgehead to settlements

·         Monitor DTC flow (e.g. Munis).  Ensure communication is open and required manual steps are taken in DTC Settlements.  Ensure Agency receive collateral.  Drive the change required to remove need for manual step.

·         Monitor short funding positions. Ensure Collateral Ops and Repo TAs are closing out.  Consider fails, upsizes, client priority order with trading.

 

Perform Controls

·         Perform T+1 repo activity rec.  Ensures collateral sourced and given is accurately reflected in systems.  Repair corrupted elements and publish.  Longer term work with RAD to fix corruptions and/or source data quality issues currently adding 10-20 mins to the task.

·         Oversee weekly late settlement claims review.  Ensure root causes and trends are identified and addressed.

·         Cash collateral reference data review.  Reconciliation between RUBI, COAST, OPICS.

·         Ops metrics improvements.  Improve visibility / commentary on root causes and trends working with Collateral Ops to clear breaks backlog. 

·         Identify and implement new controls.  Bring financing background to bear on current trade flow and implement necessary controls.  Document.

 

 

CHANGE AGENDA.  Own and drive varied change agenda currently including:

 

·         Contribute to Firmwide Collateral Program and CPG-led initiatives to move assets across entities/borders, re-use assets.

·         Tax review.  Work with Collateral Ops and Tax Ops to ensure relevant tax documents are in place. 

·         Implement pipes to new collateral sources.  Provide operation support trading needs to do new business.

There is also an opportunity to work on wider initiatives across the team including:

·         Track next wave NCMR IM eligibility schedule negotiations.  Work with Collateral Ops.  Follow email correspondence and keep summary tracker of important commercial points.  Double check final drafts match legal sign off.  Follow up with clients/Euroclear.

·         Ad-hoc support e.g. of collateral optimiser, collateral data reporting (e.g. GAUSS to RUBI).

·         Position monitor RAD development.  Work with Technology to fix 100mb file size and latency in loading.

 

 

EXPERIENCE AND QUALIFICATIONS

·         Strong background of understanding end to end lifecycle of the Financing business globally including product knowledge, trade capture, PnL/Risk.

·         Knowledge and experience of collateral financing

·         Collateral Management practices including understanding ISDA documentation

·         Control focused, with the ability to identify gaps and implement change

·         Ability to execute projects in both an agile and longer term, traditional style.

·         Collateral Management practices including understanding ISDA documentation

·         Excellent analytical, and problem-solving skills as well as understanding complex flows

·         Excellent written, verbal and presentation communication skills and ability to leverage a network across the financing and collateral teams.

·         Ability to clearly define and articulate business requirements

·         Ability to work independently in a fast paced dynamic environment

·         Works well with others and is a good team player

·         Experience in working with technology development teams during build and implementation phases of requirements

·         Able to build relationships and influence others including technology, LOBs and other business partners

·         Ability to multi-task and manage multiple projects while continuing to deliver on daily requirements

Educational Requirement : Bachelor's Degree.
 
Experience : +2 years
Risk Management, Collateral and/or Repo experience
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