JPMorgan Chase CIB Operations (Derivatives Ops) - Collateral Principal Ops - Newark - Analyst in Newark, Delaware
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
Collateral Principal Operations supports:
Collateral Management credit risk mitigation, client financing and fee based activity
Collateral Services supports a wide range of products: Derivatives, Forex, TBA, OTC Cleared, Prime Brokerage, Repos and Loans
Daily we generate and distribute margin calls; agree call amounts and collateral types; track and report call disputes, reconcile trading portfolios, monitor settlements and provide extensive regulatory reporting
On average we issue and settle 4,000 collateral calls per day
Collateral balances held by JPM and pledged to the client range between $200Bn & $300Bn notional
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.
The Collateral Services Team supports Futures & Options margin requirements, centrally cleared OTC Derivative collateral requirements, bilateral OTC derivative collateral requirements, and trade settlements related to OTC Derivative contracts. The successful candidate will be a member of this team which will primarily support the Prime Services area of the Investment Bank.
The Client Service Representative will deal primarily with buy-side clients (Hedge Funds, Investment Advisors/Asset Managers) and will develop partnerships internally with various Marketers/Salespeople, individuals in Prime Brokerage, Credit Executives, Middle Offices, and Line of Business Operations Teams.
Summary of Responsibilities
Successful candidates must be client focused, able to work independently under strict deadlines with limited supervision, be control oriented, as well as be responsible for the following:
Preparation of daily consolidated statements and reporting encompassing OTC derivative settlements, cleared and non-cleared derivatives collateral and futures and options activity/obligations.
Provide accuracy and transparency to the client in the margin call process by monitoring and analyzing statements and interpreting and complying with the legal agreement.
Contacting external clients (and possibly internal clients) to agree on collateral/margin movements across multiple requirements/obligations while ensuring all transfers are eligible under the appropriate legal document.
Accountability for the uncollateralized credit risk of a subset of Investment Bank clients, with responsibility for identifying and escalating fails and disputes in a timely and accurate manner to Credit/Risk Management, Collateral Risk Management and Operations Management.
Responding to client inquiries, and when needed, coordinate with the appropriate Front/Middle Office as well as the core processing area in order to facilitate resolution.
Identifying and resolving client disputes related to both collateral and trade settlement discrepancies.
Developing a complete understanding of Bank policies and departmental controls and procedures.
Skills and Qualifications
Bachelor degree in Finance, Accounting, or Business or equivalent work experience required.
Minimum 2-3 years Financial Industry experience.
Minimum 1 years Operations experience with some Securities experience preferred.
2-3 years Microsoft Excel experience, intermediate to expert level is compulsory. Knowledge of VBA and Macros preferred.
Knowledge of Derivative Products, or the demonstrated previous desire to learn these products, is preferred.
Must be Service and Client-oriented
Problem solver with the ability to assist in the development of solutions for clients.
Credit Risk Management experience preferred.
Must possess heightened communication skills, as the role depends upon superior communication skills in order to bridge the multiple business lines that will be supported.
Must demonstrate strong team player and robust interpersonal skills.
Must demonstrate excellent analytical skills; be able to work independently in a changing environment.
Would suit someone looking for a flexible working opportunity
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.