Cash Management Overview
Cash Management is a highly flexible shared services team operating within CIB Banking Operations. We work closely with senior business partners in the firm's Corporate Treasury, CIB Treasury and Banking LOBs to deliver innovative and cost-effective cash management solutions for their business while assisting with the internal liquidity management of the firm. All functions are performed in a constantly changing and deadline oriented environment. We actively seek opportunities to leverage economies of scale and streamline processes to reduce costs and pass savings onto our business partners.
Cash Management has an immediate opening for a Transaction Specialist within the Broker/Dealer team. This team is part of a larger global cash management business that works closely with Corporate Treasury, CIB Treasury, and various JP Morgan lines of business to coordinate funding, onboard new business, and maintain the appropriate account/funding structure in the firm's Broker Dealer and Holding Company entities.
Primary Services include:
· Multi-Currency Funding - Calculation and execution of funding transactions for managed accounts and entities.
· Cash Forecasting and Variance Analysis - Coordination of cash projections by product and entity in order to maximize cash for the firm or minimize credit risk exposure. Liaise with Corporate Treasury, CIB Treasury and various Lines of Business (LOB) to resolve exceptions.
· DDA Balance Reporting and Monitoring.
· Statement to Ledger break investigation and resolution
· Regulatory Reporting for JPMorgan Chase Bank affiliates heritage JPMorgan Clearing Corporation (h-JPMCC) and JP Morgan Securities., LLC. (JPMS).
Responsibilities to include:
A successful candidate will be motivated by the fast paced and high pressure environment and frequent interaction with front-office personnel expected of them in this position.
· Monitor Primary and Secondary Nostro account balances to ensure previous days funding activity was executed accurately. Perform research and justify balances that are not within tolerance.
· Utilize the various reconciliation applications (TLM, Global Recon and Frontier) to review and resolve statement to ledger breaks.
· Work in conjunction with LOB’s to compile funding predictions in order to build an overall funding position for Treasury to trade.
· Monitor intraday cash projections. Work with the LOB’s and trading desks to analyze source data predictions in order to construct an accurate and final Nostro account cash position.
· Perform research to validate intraday projection variances promptly advising Treasury.
· Compile and report Reg. W and Affiliate reporting balances for h-JPMCC and JPMS to the Reg. Reporting teams
· Provide recommendations related to control gaps and work with manager to mitigate risks.
· Work effectively with the overall global cash management team.
· Provide recommendations for process improvements in order to drive change and enhance existing processes.
· Work closely with Corporate Treasury in managing the funding requirements for JPMS, h-JPMCC and Holding Company entities.
- Experience in settlement, accounting or cash management operations.
- Previous experience performing work requiring attention to detail and adherence to strict rules, standards and daily deadlines.
- Ability to handle multiple tasks within a deadline oriented and fast paced environment.
- Strong organizational, time management and analytical skills.
- Excellent oral written communications and interpersonal skills.
- Ability to solve complex problems independently and as part of a team.
- Intermediate knowledge of Microsoft Excel.
- Project management skills a plus.
- Knowledge of Funds Transfer principals such as SWIFT and Fedwire a plus.
- Knowledge of Visual Basic for Applications (VBA) and Macros a plus.
- Knowledge of Money Market products and Foreign Exchange a plus.
- Candidate will be required to prepare for and pass the Series 99 exam.
- Good Team player
Hours will vary from 6.00am to 6pm but can extend to later in the evening on high volume days.