JPMorgan Chase CIB Operations (Derivatives Ops) - OTC Derivatives Settlements - Newark - Analyst in Newark, Delaware

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

OTC Derivatives Operations supports a global and diverse client base. Primary functions performed: affirmation, settlement, client money daily segregation, credit event management, client valuations, regulatory reporting, and tax reporting. Facilitate transaction execution via a ‘best in class’ systematic control framework, providing integration between risk systems (Athena, GPS, Kapital, Pyramid) and vendor platforms (DTCC / TIW / Markitwire / Thunderhead).

  • Manage a portfolio of 2.5M live trades

  • Monthly settlement of 600,000 payments (100% increase vs. 300,000 in 2010)

  • 70,000 Dodd Frank MTM and client valuation statements issued on a daily basis

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

Newark. We’re right at home in Delaware, the world’s credit card capital. You could join over 5,000 employees in the state, who work at 13 different locations. We have designated Newark, DE, as one of our seven "strategic technology hubs" in the U.S., where we are expanding operations. We’re looking forward to our new Technology Center, which will feature modern furnishings and state-of-the-art collaboration tools. Come join us in Newark and be a part of our exciting future.

Job Description

The NA Derivative Settlement teams are responsible for ensuring a smooth settlements process for Credit Derivatives, Interest Rate Swaps and Equity Derivatives between the Investment Bank and their North American client base, covering Hedge Funds, Asset Managers, Corporates & Financial Institutions, Governments and Special Purpose Vehicles (SPV).

The Teams deal with the end-to-end settlements process including confirmation of settlements prior to value, investigation of post-settlement discrepancies, responding to all incoming client enquiries and dealing with queries from Middle Offices (globally) and our sister hubs in Bournemouth, Mumbai and Singapore. Teams have high levels of client and Middle Office contact and are constantly being challenged to innovate and drive change to meet the demands of a developing product set, client base and trading growth.

Summary of Responsibilities

• Risk Mitigation (Operational, Financial and Reputational)

• Quality Client Service

• Ensuring that all payments are settled accurately and all incoming client enquiries are dealt with in a timely manner.

• Resolving any outstanding post-settlement discrepancies adhering to Internal and External Rules and Targets.

• Maintaining and building excellent relationships with external clients as well as with multiple teams across the Derivatives hubs and globally with the Middle Offices we support.

• Identifying and investigating the root cause of errors/issues.

• Participating in process improvement initiatives.

• Ensuring that all issues are escalated to the Team Leader/Manager within an appropriate time frame.

Skills and Qualifications

• Desire to work in a fast-paced environment.

• Self-motivated, enthusiastic with a great appetite to learn.

• Excellent relationship-building and good communication skills.

• Excellent time management skills and the ability to organize and prioritize work in a busy environment with the ability to work under pressure and to deadlines

• Pro-active approach to problem solving and developing solutions.

• Capacity to think laterally and understand the big picture.

• Understand the risks and adhere to the controls in place at all times.

• Experience in an operational/financial services/customer services environment advantageous but not essential.

• Previous exposure to financial products and derivatives instruments advantageous but not essential.

Could suit someone looking for a flexible working opportunity

JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.