CIB Operations – Repo Margin Specialist – Bournemouth – Professional

Last updated 12 days ago
Job Type:Full Time

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.

Derivatives Operations provide operational support to Markets, Investor Services and Banking businesses across the CIB. Key product areas include Currencies, OTC Derivatives, Collateral Principal, Global Clearing, CASS & Outsourcing and Expense Management Unit with a global team of ~1500 colleagues. Services provided to our Businesses include:

  • Transaction Processing, Confirmation, Settlement and Clearing, Collateral Management, Client Service, Expense Management and CASS & Outsourcing Support
  • Typical daily activity includes settling in excess of $2TRN via FX trades, leading a Markets OTC portfolio of 3M trades, managing collateral balances in excess of $350BN and processing ~700K cleared and intermediary trades

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

Location Description
Bournemouth - Over 4,000 employees work at the Bournemouth Corporate Center. We take immense pride in our work and in helping our community. We’re proud to leverage the local workforce and engage closely with local schools and charities. Our campus is set in 13 acres of grounds and includes on-site Tennis Courts and easy access to local sports facilities. We have good transport links including our commuter bus service. The site is currently benefitting from massive investment, redeveloping the office space into a High Performance Workspace and adding exciting new offerings to our communal spaces. We have 2 restaurants on site offering a wide range of healthy options. The staff are able to join in a wide range of groups from yoga to language classes, to groups supporting the diverse range of cultures represented here.

Job Description

As part of the CIB’s Global Collateral model the EMEA REPO Collateral Services team provide a controlled environment for the mitigation of counterparty risk via the monitoring and collection of collateral.

The team is primarily responsible for:

  • Facing internal and external clients, to involve resolving relationship issues and significant client matters on behalf of the business.
  • Issuance, receipt and monitoring of margin calls in accordance with the terms of the collateral agreements for REPOS.
  • Resolution, control and escalation of collateral disputes and fails to senior management and credit risk teams.
  • Recording, reconciliation and control of cash or securities received/posted as collateral.

The successful candidate will deal primarily with buy-side clients (Hedge Funds, Investment Advisors/Asset Managers) and will develop partnerships internally with various Traders, Salespeople, Credit Executives, Middle Offices, and Fixed Income Line of Business Operations Teams

Summary of Responsibilities:

  • Generating collateral statements and sending calls to clients for both standard and non-standard agreements. Timely follow up of all calls made by JP Morgan.
  • Answering of incoming collateral calls sent by clients comparing them to JP Morgan's exposure.
  • Agreeing on the amount and type of collateral to be moved.
  • Follow up on any counterparty fails.
  • Reconciliation and dispute resolution with regards to disputes or credit sensitive customers.
  • Month end tasks including the agreement of interest on any collateral held/delivered.
  • Timely resolution of incoming queries regarding a client’s portfolio. Escalation of issues to Internal Business Partners.
  • Project deliverables including looking to improve controls and efficiencies across the End to End Workflow.

Skills and Qualifications

Essential Skills:

  • Proven experience of effective relationship building with a wide variety of stakeholders, for example; Clients, Front Office and other Business Partners.
  • Must be attentive and responsive to client needs.
  • High level of accuracy and attention to detail is required.
  • Ability to work with minimal supervision.
  • Ability to work in a methodical and organised manner and to follow procedures.
  • Excellent client communication skills and telephone manner and a strong ability to build client relationships.
  • Ability to work as part of a team and be flexible during busy periods such as month end.
  • Strong Risk and Control Awareness – with the ability to push back on stakeholders when risk/controls could be compromised.
  • Strong oral and written communication skills.

Desirable Skills

  • Knowledge of Fixed Income products.
  • Knowledge of Collateral Management for Fixed Income products would be an advantage.
  • Microsoft Office – ability to analyze data effectively using Excel with an ability to write and manipulate macros.
  • Experience liaising with Central Counterparties (LCH, ICE, EUREX or other)
  • Strategic thinker, able to review and implement process improvements.

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 o