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CIB Operations (Derivatives Ops) - Agency Collateral Middle Office Account Manager -- Associate

Req #: 170073624
Location: Newark, DE, US
Job Category: Operations
Potential Referral Amount: 0 US Dollar (USD)
CIB Operations (Derivatives Ops) - Agency Collateral Middle Office Account Manager - Delaware - Associate
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
Agency Collateral Operations support internal & external clients (predominantly Banks & Broker Dealers) in managing their margin obligations/exposures.  Primary product support falls into 3 categories: Derivatives Collateral Management (DCM), Securities Collateral Management (SCM) & Margin Control.  Primary functions span three global teams; 1) Core Operations own day to day processes, (2) Middle Office have ownership of overall operational client satisfaction, (3) Client Implementations own the onboarding of new and incremental client/business to the ACO platform.
  • J.P. Morgan manages in excess of $350Bn of collateral balances and processes 20M transactions each year
  • More than 200 collateral clients globally, with 6,400 CSAs for over 100 third-party buy side clients. Collateral relationships with all major banks and brokers globally
  • Provides tri-party support in excess of 20 markets
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
Collateral Management was created in response to regulation and innovation driving significant changes across all facets of our business. JPMorgan knows that service quality is an attribute that matters most to companies, particularly in such a changing landscape. That’s why our firm’s tactical and strategic focus includes fostering a service culture and presenting a single face to the client with branded touch points.
The Middle Office Group is the 'window into JPMorgan' for our client base, therefore effectively giving the client a single point of contact for all of their servicing requirements. The team work in partnership with the clients to ensure agreed service levels are met and future needs understood. The team also partner with the Relationship Management teams in order to understand the client's business culture and strategy."
An exciting opportunity has presented itself within the formation of the CM business to own the day to day relationship and service management to a group of Collateral Management clients. This will entail creating and maintain strong client relationships in addition to collaborating with both relationship management to drive service quality consistency and enhancements.
Summary of Responsibilities
The role requires that the Middle Office Account Manager obtain advanced business and client knowledge across all businesses within CM, acting as the voice of the client across all client related matters.
In addition, the role is also responsible for building and maintaining a network of partners throughout J.P. Morgan in order to promote client service excellence and support the clients' business strategy. This is critical to allow the Middle Office Account Manager to take the lead in supporting their colleagues to provide the appropriate solution for the client base and act as a primary escalation point for colleagues and clients.  
Client Satisfaction      
  • Track and manage all CM Dissatisfaction via a Path to Green   
  • Coordinate updates across CM for the client Experience Call  
  • Identify proactive opportunities to increase client satisfaction level to very satisfied
  • Expert in the client relationship with JPM and how other areas will impact Client Satisfaction
  • Owner and coordinator of Virtual Team"
Voice of Customer     
  • Expert in client’s  technology,  trading and ops set ups
  • Responsibility for ensuring that client’s requirements are serviced at the tactical and strategic levels
  • Client training & education"
  • Track and manage all CM escalation within Service Desktop / OTM and on the relevant update calls
  • Management of any potential claims
  • Client issues should be captured as a Service Delivery Issue, reviewed on the weekly call and all trend analysis should be completed as part of the monthly process. The trend analysis should be shared with all Operations, product and technology team
  • If required the client should be moved into Critical Care. Middle office should follow the Critical Care process including daily calls, weekly senior management updates and active RAG rating"
Service Review           
  • Agreement and ownership of regular service reviews in person where possible  
  • Capture key objectives and action plans to increase client satisfaction level on the service deck"
  • Internal Coordination
  • Demonstrate full ownership and accountability for the optimization of client sat across the org                      
  • Virtual team leader, weekly internal calls, with a internal score card completed and sent out
  • Daily client updates sent to the wider team during inception
  • Engagement of key contacts where required, with clear action points "
Change Management
  • Track and manage all CM change via CSX
  • Improve the client experience by driving toward faster turnaround times
  • Strategically drive product offering and development through deeper understanding of client themes and needs
  • Manage balance between customized solution & standard offering"
CM Client Onboard      
  • Support of the Onboarding manager, participation in the project meetings and calls
  • Initial hand hold with the client in office  
  • Drive to resolution any issues arising during Onboarding and track via Service Delivery Issues            
  • Client feedback coordination
  • Drive all informal and formal feedback collation, along with internal updates
Efficiency Review       
  • Deep dive into the Collateral Management process, collation of deck via the deep dive process and presentation to the client
  • Internal coordination to review and a monthly in depth analysis, in partnership with Operations"
Inquiry Management
  • All queries from clients should be logged in Service Desktop / OTM at the point in time that they are received, must be updated regularly with clear, concise updates, and closed on the day that the enquiry is resolved out with the client
  • The MO Account Manager should review all the open client inquiries every day to ensure that all queries are resolved within 24 hours, this should include the items in Operations
  • On a monthly basis the MO Account Manager should review all enquiries received that month, and look to produce MIS to show key information about the enquiries received e.g.  Sub Products, Reasons, Clients etc. Using this information you should create a action plan, by 10th business day of each month, for reducing enquiries."
  • MIS/ KPIs         "*Coordination and agreement with the client of relevant MIS/ KPIs
  • Client and Internal reviews of the results 
  • Drive number of inquiries and turnaround time down. 
Skills and Qualifications
  • Change Management
  • Client Management Skills
  • Communication Skills
  • Influencing and Networking Skills
  • Leadership
  • Ownership and Initiative
  • People Management Skills
  • Problem Solving and Analytical Skills
  • Results Focus
  • Strategic Planning
  • Team Work
Experience Required
  • Financial services experience
  • Working knowledge of the Collateral Management business, it's operations and products
  • Strong and proven client management experience
  • Ability to effectively communicate strategic direction
  • Ability to work to multiple deadlines and prioritise appropriately
  • Proven project management skills
  • Excellent at making verbal and written representations.
  • Proficient in using MS PowerPoint, Excel, Word and Project
Could suit someone looking for a flexible working opportunity
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