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
Global Clearing Operations supports Clearing, Reconciliations, Middle Office, F&O House Ops, Expiries & Deliveries, Settlement, Brokerage, Client On-boarding, Client Money, Regulatory Reporting, Static Data Management and Position Management.
- JPM is the 2nd largest Futures Commission Merchant based on Client Assets
- Processes ~750,000 cleared and intermediated trades daily
- Provides clearing at 62 global Clearing Houses
- Settled USD equivalent 24.3Bn in physical deliveries Q1 2016
Happy to talk flexible working.
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.
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.
This role will involve daily interaction with the Global Treasury team, CSR and Middle Office Teams groups globally & locally as well as frequent interaction with technology and project delivery colleagues, this role would suit someone wanting to work flexibly.
Primary Responsibilities include:
· Develop good understanding of the OTC Clearing client businesses
· Participate in an agreed client Operations calling program to include service review with the Middle Office teams in primary locations
· Engage and work closely with other regional transaction support hubs including the Middle Office teams in NA, EMEA,
Sydney and Singapore and the supporting Custody teams.
· Participate in key OTC Clearing Operations agenda such as MIS and product specific client query tracking
· Actively working with global utility teams to resolve any outstanding queries such as collateral and reporting
· Manage day to day trade acceptance process : Monitor, reconcile and process new trades
· Responsible for meeting deadlines / market cut-offs on timely and accurate trade submissions
· Fully own relationships with counterparts such clearing brokers and exchanges
· Maintain all downstream system integrity/interact with Financial Control and Product Control teams to ensure quality of process.
· Management of core BAU activities including settlements for intermediated and cleared trades
· Identification, escalation and resolution of settlement discrepancies to primary Middle Office team and or JPM Custody.
· Active investigation and closure of any client issues that arise within the operating functions
· Daily (and ad-hoc) internal and client reconciliations
· Identify and address opportunities for improvement; taking appropriate actions to deliver simple and innovative
solutions that improve the business and to initiate and effect positive change.
· Partner closely with the existing client service teams globally and work towards on boarding new services and
capabilities to existing client relationships ,ensuring that evolving client needs are met.
Summary of Responsibilities
- Manage collateral and cash movements instructed by the Global Treasury Team and the Client Service Teams.
- Reconciliation of cash and collateral positions and balances
- Daily Interaction with JPM Custody teams, Financial Control and Treasury services to resolve issues and process transactions.
- Work with Treasury Operations teams in EMEA and APAC to provide global coverage.
Skills and Qualifications
- Degree Educated
- Previous clearing experience would be an advantage
- Trade workflow knowledge
- Good knowledge of derivatives products.
- Committed and hardworking with a strong ability to prioritize.
- Strong knowledge of Microsoft Office applications, specifically Excel, with the ability to write and develop complex macros.