CPG Product Controller - London

Last updated an hour ago
Location:Greater London
Job Type:Full Time

Our CPG Product Control team is responsible for providing support to the CPG trading desks to ensure that the profit and loss, balance sheet, and month end close procedures are done accurately.

Credit Portfolio Group (CPG) is mandated to actively manage the Investment Bank’s retained credit exposures resulting from traditional lending and derivatives activities. Specifically, CPG is responsible for developing and executing strategies with the primary goals of reducing credit risk concentration and losses from credit events, as well as aiming to increase the capacity for future business. A major component of these responsibilities is to manage the credit and associated market risk of derivative counterparty exposures. This entails risk position analysis for a number of separate markets, and executing a coherent strategy across them.

The successful candidate will join the CIB Controller team which has product control responsibilities for CVA (credit valuation adjustment - which is essentially marking to market JPM’s derivative receivables to reflect the counterparty’s credit worthiness) and FVA (Funding Valuation Adjustment – which is the cost of Funding JPM derivatives positions).

Duties and Responsibilities:

  • Production of CVA/FVA and hedge P&L for the EMEA and Asia region for Credit/Market (CDS/FI/IR/FX/Equity/Commodity/Futures & Options)
  • Analysis of the P&L and explanation to the trading desk
  • Reporting EMEA and Asia results into the NA Controllers for Global consolidation
  • Interaction with the Middle Office support teams to control hedge side P&L and risk
  • Actively engaging colleagues in Technology and other teams in Finance to improve the systems architecture and financial processes
  • Proactively identifying opportunities to improve the P&L reporting and the overall control environment with respect to CVA and FVA across the various product classes of derivatives within the CIB.
  • Point of contact/escalation for Credit Portfolio Traders, VCG and LOB/LEC Controllers in respect to CVA and FVA reported in the Corporate Investment Bank.
  • Understanding of the Accounting, Tax and Regulatory treatment of the products supported.

Qualifications

  • Experience of derivatives – either from P&L and Risk (Product Control) or trade support.
  • Understanding of investment bank product accounting.
  • Technical, analytical and quantitative aptitude.
  • Diligent with high attention to detail.
  • Ability to work as part of a team and take a flexible approach
  • Demonstrated track record of process improvement and improving controls in previous roles.
  • Technical, analytical and quantitative aptitude.
  • Ability to build and influence partnerships with the desk, technology and QR
  • Excellent verbal and written communication skills

JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package.

JPMorgan Chase & Co. is an Equal Opportunity Employer and a member of the UK Government’s Disability Confident Scheme.

Opening Date: October 22, 2020
Closing Date: November 19, 2020