JPMorgan Chase Operations Middle Office Internship in New York, New York
NA FX, Rates and Credit Derivatives Marketing Middle Office – Internship
J.P. Morgan is a leader in financial services, offering innovative and intelligent solutions to clients in more than 100 countries with one of the most comprehensive global product platforms available. We have been helping our clients to do business and manage their wealth for more than 200 years and we keep their interests foremost in our minds at all times. This combination of product strength, intellectual capital and character sets us apart as an industry leader. J.P. Morgan is part of JPMorgan Chase & Co. (NYSE: JPM), a global financial services firm with assets of $2.0 trillion.
The NA FX, Rates and Credit Derivatives Marketing Middle Office (“MMO”) is a marketing aligned Middle Office team that specializes in operational support for marketed interest rate derivative trades. The MMO support marketers located in New York, Boston, Chicago, San Francisco and other cities within US. The client base is institutional (ex. hedge funds, asset managers) and non institutional clients (corporate, mid market and tax exempt). The MMO ensures that client trades are captured and processed timely and any operational breaks are quickly remediated. They act as a single point of contact for all operational issues related to marketed trades. The team has regular and heavy interaction with downstream operational teams, fielding daily queries and resolving issues. Due to proximity and relationship with salespeople, clients, product knowledge, and system expertise, the team serves as operational experts capable of analyzing complex operational issues and delivering fast, customized solutions. The team adheres to strict operational protocols and escalates issues as required. The team actively participates in cross business client service initiatives and technology enhancement programs that minimize operational burdens for salespeople and enable excellent operational experience for JPM clients.
Perform all aspects of operational support for derivative trades executed by marketers including inception/execution, client set up, booking verification, client trade check out, MWIRE/DTCC affirmation, confirmation review, sales revenue reconciliation,
Comply with all trade processing controls and regulatory requirements
Respond quickly to all marketer or client requests and queries
Escalate problematic trades to Sales, Middle Office and Operational Management as required.
Act as single point of contact for queries from marketer and client in addition to internal teams including: Risk Middle Office (book runners), Reference Data Team, Confirmations, DTCC, Settlements, Valuations, Collateral, Legal, Credit and Audit.
Onboard clients to preferred electronic matching utility (MarkitWire).
Lead and contribute to projects that directly improve client service, trade processing efficiencies or control.
Participate in system enhancement testing and releases
Essential and desired skills:
College student, strong GPA
Related experience in business, sales, finance or derivatives
Motivated, high energy individual who works well under pressure and is resilient
Interest in financial markets and knowledge of derivative products including Swaps, Options, Swaptions, Caps and Floors, Credit Default Swaps, FX Spot, FX Options, NDF
Interest in Dodd Frank Act & EMIR regulations
Knowledge of industry utilities, e.g. MarkitWire, DTCC, Bloomberg and other industry utilities
Excellent client service skills
Excellent Excel skills
Strong written and verbal communication skills
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package.
JPMorgan Chase & Co. is an Equal Opportunity and Affirmative Action Employer, M/F/D/V
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.