|Job Type:||Full Time|
Differential Discounting Trading (DDT) is part of Credit Portfolio Trading (CPT) and ultimately forms part of Credit Portfolio Group (CPG) which risk-manages the retained credit risk of the CIB originating from the HFI loan portfolio and derivatives transactions, using a wide range of assets to execute the overall global hedge strategy of the portfolio. The products traded span FX, Interest rates, credit, commodities, and equities, on a cash and derivative basis.
DDT risk manage JPMs collateralized derivative funding exposures primarily through the use of Interest Rate products such as IRS, Xcy basis, OIS basis, and FX. In addition to this DDT also Risk Manages and report an additional independent trading book for the Corporate and Investment Bank’s Treasury (CIBT) primarily focused toward unsecured exposures. DDT also structure and execute large scale portfolio optimization trades across the Bank’s derivatives portfolio which includes clearing, CSA renegotiations and bilateral compression activity.
Differential Discounting (DD) Collateral team is part of the Regulations, Efficiency and Infrastructure (REI) group and the wider Credit Portfolio Group (CPG) business. DD Collateral is primarily responsible for managing and optimizing the funding costs arising from JPMs derivative collateral exposure. DD Collateral provides guidance on the funding value of derivative collateral and works with the Finance desk and settlements in order to meet our daily collateral requirements. , which is responsible for risk-managing the retained credit risk generated by the client-driven activities of the CIB as well as the market risk arising from counterparty risk in derivative and securities transactions.
The successful candidate will be expected to support the CPG business which is fast paced, dynamic and continuing to evolve in the form of new pricing methodology and process changes which impacts the firm as a whole.
Initially they would be expected to absorb as much as possible with respect to the end to end management of collateral and pricing of derivatives. Over time we would expect the candidate to lead a project agenda, partnering with technology teams and representing the business to senior management and stakeholders. They will be expected to contribute fully as project manager with the context of someone who understands the “nuts and bolts” of the business. The ability to bridge the gap between the business, technology, middle office teams and our deliverables is key.
- Contribute to strategic decision making process and work with the business to define and prioritize the project agenda
- Produce implementation plans and timelines covering all aspects of a project cycle
- Provide regular updates to senior management in Technology, Middle Office & other key business sponsors
- Gather business requirements, perform detailed analysis, and produce associated functional specifications where required
- Partner with Operations, Technology and Front Office groups globally within JPM to define and implement new requirement
- Chair PWGs and provide regular status updates to key stakeholders
- Ensure effective communication of all change, ensuring that the relevant Front Office, Operations and Technology stakeholders are engaged and all issues and risks are identified and escalated
- Support the development of Project Management best practice within the team
- Significant Investment Banking experience
- Ability to demonstrate both traditional and agile based Project Management skills
- Strong background of understanding end to end lifecycle of Rates Derivatives including product knowledge, trade capture, PnL/Risk
- Good understanding of pricing and impact of using different discount curves to price derivative transactions
- Collateral Management practices including understanding ISDA documentation
- Excellent analytical, and problem-solving skills as well as understanding complex flows
- Attention to detail and investigative skills
- Excellent written, verbal and presentation communication skills including extensive experience of interaction with senior management
- Ability to clearly define and articulate business requirements
- Confidence in communicating internally at all levels; candidate will be dealing with front office, middle office and technology teams on a daily basis who are both business and technically sophisticated
- Independent , proactive, self-motivated and flexible with a positive attitude
- Ability to work in a fast paced dynamic environment
- Works well with others and is a good team player
- Strong time management skills; efficient at multi-tasking and able to work under pressure to deliver multiple business demands on-time, to a high-level standard
- Experience in working with technology development teams during build and implementation phases of requirements
- Able to build relationships and influence others including technology, LOBs and other business partners
- Control focused
- Ability to multi-task and manage multiple projects while continuing to deliver on daily requirements
- Knowledge of accounting and finance
- Advanced MS Excel/Access skills