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CIB – Custody & Fund Services - Direct Custody and Clearing – Kingdom of Saudi Arabia – Deputy Product Manager – Vice President

Req #: 170097638
Location: Riyadh, 01, SA
Job Category: Investment Banking
Potential Referral Amount: 4000 US Dollar (USD)
CIB – Custody & Fund Services -  Direct Custody and Clearing – Kingdom of Saudi Arabia – Deputy Product Manager – Vice President
 
About J.P. Morgan Investor Services
 
J.P. Morgan Investor Services, a division of the Corporate & Investment Bank, is a unique combination of related, complementary businesses, working together to provide our clients with seamless end-to-end solutions across the spectrum of fund and custody services, financing, execution and clearing, all with the objective of helping our clients succeed. These product families occupy a top-tier position in the industry in their own right and this combination provides an expanded, integrated and best-in-class suite of end-to-end capabilities.
 
Custody and Fund Services provides middle office, custody, accounting and administration services for fund managers including mutual funds, hedge funds, private equity, real estate funds, pension funds and fund of funds.
 
Job Description
The Direct Custody Deputy Product Manager for KSA will provide support and act as deputy to the Direct Custody Product / Business Head. Together they will be charged with the responsibility for the overall custody service, specifically as it relates to the transaction processing  and asset servicing of securities held in that market.
 
The decision by J P Morgan to expand their Direct Custody footprint in Saudi is a highly significant strategic step to consolidate the banks position in the region and to build client relationships with an important target market.  The implementation of this product will be a high profile across the organisation and the individual heading the DCC product locally needs to be of appropriate calibre.
 
The Deputy Product Manager will need to assist the Product Head in the design of the local Product, Service Standards, client and regulatory interaction, market information and advocacy functions..
 
This appointment is being made in advance of the implementation of the Product and so the incumbent is expected to be a key contributor in the actual build of the product / service. Their knowledge of the market, regulations, client expectations (local and foreign) is critical to the success of the initiative.
 
Responsibilities 
  • Support the development and execution of  the product strategy in KSA.
  • Strong support to the Sales / Relationship  teams throughout the end-to-end sales process as a subject matter expert in the local market
  • Management and understanding of all documentation related to the product
  • Ensure external and internal clients are fully satisfied with the JPM service through responsible relationship management and client engagement.
  • Build traong relationships across Operations, Service and Technology to ensure an agenda for product development is delivered in line with the overall strategy YOY.
  • Partner with Compliance, Risk, OCM and Legal  to understand how the product operates within the parameters of the regulatory environment
  • Ensure a focus on Risk and Controls across the business where issues are identified, escalated and managed effectively and transparently
  • Support the planning, development and delivery of solutions that deliver tangible benefits to end customers of JPM.
  • Full support of the end-to-end sales process
  • Be a principled supporter across all aspects of culture and conduct.
Qualification:
  • Custody experience in the regions equity and fixed income markets with detailed knowledge of the market participants, local regulations, product nuances, client requirements and market practice, all of which can be practically demonstrated through existing relationships, past experience and previous achievements.
  • Experience in Securities Services for domestic and local clients
  • A strong preference for any candidate who (in addition to the above) has had experience in other securities markets
  • Strong record on client service or client interactions demonstrated through past experience.
  • Excellent verbal and communication and presentation skills.
  • Proven ability to build relationships with stakeholders and support areas.
  • A good understanding of the regulatory environment, its evolution and ongoing impact on the custody product.

Characteristics of the Potential Candidate

  • Will be a confident driven character who has an ability to deal with people and teams at all levels and can manage to enlist their support for key initiatives.
  • The nature of the business means it is essential that they can cover a variety of activities over a period of time and ensure that focus is prioritised appropriately
  • The first year of this project will be about implementation and therefore any experience in the delivery or ownership of high profile complex projects will be a considerable advantage
  • A key differentiator for the product is local market expertise. Any experience in this area will be a clear advantage.
  • A keen understanding of the competitive environment should ensure the individual can clearly assess the J P Morgan product and its relative position Vs other service providers in the market
  • The Direct Custody Product is at the core of a number of services, including Global Custody, FX, Funds Administration, Cash Management and it is essential that the individual will ensure over a period of time that they develop an acute understanding of the links with these other areas and the relationship they have with Direct Custody.
  • Given the relative introduction of the Custody Product in the market, consideration will be given to applicants who have relevant banking experience and a strong record in client service with a desire and ability to learn a new and exciting product
About J.P. Morgan’s Corporate & Investment Bank
 
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.  Further information about J.P. Morgan is available at www.jpmorgan.com.
 
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.
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