House/CCP Clearing and TCP Collateral – Bournemouth – Associate

Job Type:Full Time
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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

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.

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

The Derivatives Collateral Management teams provide a controlled environment for the mitigation of counterparty risk via the monitoring and collection of collateral for the CIB trading businesses including; Fixed Income, FX, Equity Derivatives, Credit Derivatives, Commodities, Prime Brokerage and Fixed Income Repo.

An opportunity has risen within the JP Morgan Collateral Management space to assist in the operational management of our daily margin activity as well as scope for involvement in upcoming new business initiatives and growth.

The successful candidate will interact with a number of internal and external counterparties including credit, sales, business and management.

The team is primarily responsible for:

  • Management of daily business activity to mitigate risk around collateral exposure. Facing internal Ops and business partners to ensure the end-to-end margin management process is successful.
  • Resolution, control and escalation of queries to key internal stakeholders.
  • Ensuring reconciliation procedures are performed and reported in line with stakeholder demand.
  • Supporting requests from the business in on boarding of new products and initiatives and ensuring our operational readiness prior to go live.
  • Reviewing and removing manual processes and implementing strategic solutions
Summary of Responsibilities

Key role responsibilities are detailed below:

  • Ensuring daily processes are completed in a timely and accurate manner, adhering to a number of internal and external deadlines including those which are currency or control specific
  • Building and maintaining collaborative relationships with our key stakeholders across multiple regions and businesses
  • Supporting new business initiatives and consequent growth in the scope of functions we support. Ensuring as a team we can efficiently operationally manage the on boarding of new products
  • Timely resolution of incoming queries, escalation of issues and reconciliation
  • Participation in projects and testing to ensure JPM operating infrastructure continues to be enhanced and developed to meet the business needs
  • Reviewing current procedures and controls and ensuring these are in line with both function and global standards
Skills and Qualifications
  • Previous operational experience preferred in a financial institution.
  • 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/ business needs
  • Strategic thinker, able to review and implement process improvements.
  • High level of accuracy and attention to detail is required with an ability to work with minimal supervision and in a methodical and organized manner and to follow procedures.
  • Strong risk and control awareness – with the ability to push back on stakeholders when risk/controls could be compromised.
  • Ability to work as part of a team but also be self-motivated