|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 have the opportunity to support one of two core aspects of the CPG trading business including both Trading and collateral desks. The role will involve facing off to the front office and liaising with all JPM businesses in an environment 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.
- Support the differential discounting and CPG Trading desks
- Daily booking of a variety of derivatives across multiple asset classes in keeping with the overall remit of the credit portfolio group.
- To produce and explain daily P&L / Risk but also ensure its accuracy. The successful applicant should have a good understanding of the Greeks and be able to explain their movements.
- Manage clearing and compression cycles for the differential discounting desk.
- To understand the cash flows associated with each trade and to work with the accounting and settlement teams to ensure that settlement is accurate and timely.
- To be able to identify areas of improvement and implement new procedures or to change existing process flows to ensure tight controls front to back.
- Build strong relationships across FO (traders and marketers), Accounting, Settlements and Technology
- Weekly collation of key business metrics that feed into multiple business control forums.
- Ad hoc scenario runs that require the applicant to work well under pressure and within confined timing windows.
- 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
- 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
- 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 particularly VBA