JP Morgan Introduction:
J.P. Morgan is a leading global financial services firm, established over 200 years ago:
o We are the leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.
o We have assets of $2.5 trillion and operations worldwide
o We operate in more than 100 markets.
o We have more than 243,000 employees globally.
Our wholesale businesses include J.P. Morgan’s Asset Management, Commercial Banking and the Corporate & Investment Bank which provide products and services to corporations, governments, municipalities, non-profits, institutions, financial intermediaries and high-net worth individuals and families.
Our corporate functions support the entire organization and include the following functions: Accounting, Audit, Finance, Human Resources, Operations, and Technology.
J.P. Morgan in India provides a comprehensive range of Corporate & Investment Banking, Commercial Banking, Asset & Wealth Management, and Corporate functions services and solutions to our clients, executing some of the most important financial transactions and providing essential strategic advice to our clients such as the government, large domestic and multi-national corporations, non-government organizations and financial institutions and investors. India is a key market for JPMorgan Chase globally and our employees in India are a critical part of how we do business globally and are integrated within our businesses. Our Global Service Centers (GSCs) are strategically positioned in Mumbai, Bangalore and Hyderabad to support the firm’s operations regionally and globally. The centers provide comprehensive strategic support across technology and business operations processing to all lines of business and the corporate functions.
Functional Job Title: Vice President – Sydney Managed Funds
Corporate Job: Vice President
Reporting To: Executive Director
The Client Facing product group is part of the A&NZ custody and fund services team and is responsible for the back office functionality and support to clients and fund managers within Asia Pacific, primarily clients are based in Australia and New Zealand. Within the Client Facing product group is the Managed Funds team
The primary responsibilities of the Managed Funds team is:
• Processing of authorised client instructions for Managed Fund investments into Unlisted Unit Trusts in a timely manner
• Receipt and process of all UUT income in a timely payment
• Daily Clearance of Cash and Asset reconciliations
• Completion of Daily Transaction Recs on traded positions
• Monthly Completion of Unit Fund Manager Reconciliations.
• Asset and other static data set up and maintenance on the various internal systems.
• Perform Year End Income Reconciliations including Tax Deferred Adjustments
The various functions performed by the Managed Funds require staff to become familiar with how the securities market operates. The group is also expected to keep abreast of market changes and be able to assess the impact of any changes on the business.
• Supervision of workflow, ensuring no bottlenecks and instructions missed.
• Assessing work allocation, identifying area’s of capacity during day
• Act as point of escalation for up/downstream teams, support in high volume days for checking/verification of work
• Recording and monitoring of Error Log Report
• Monitoring of break items / aged items
• Ensuring all controls and JP Morgan requirements are adhered to at all times and any risk items escalated immediately.
• Conduct staff 1 on 1’s and staff meetings to build communication and enhance the effectiveness of staff performance, objective and development plan setting, appraisals, performance monitoring.
• Mentoring of supervisors and associates and assisting in their development and training them to be able to relieve in the Senior role
• Review and approval of SOP’s and SLA’s and monitoring to ensure adherence to them by all staff.
• Comply with audit and compliance regulations and be the focal point for audit visits.
• Critical in providing input, development and management of projects in the team on client transitions, system enhancements, end to end process reviews
• Focal point for all staff and client queries both internally and externally
• Implement strategy and core objectives for the team in line with the global operations roadmap
• Leadership, development and communication of vision and objectives for the department to all team members
• Provide guidance, coaching and feedback to the supervisors and team members who are responsible for co-ordination and delivery of all aspects of Service Level Agreements.
• Focus on team deliverables and expected performance levels to achieve targeted objectives and ensure adherence to Service Level Agreement (SLA)
• Develop and monitor staff performance through JP Morgan Performance Management System
• Responsible for recruitment of key talent into the team.
• Respond and interact with all internal business lines including Relationship Management, Client Executive, Portfolio Accounting, Technology and senior management and contact with external auditors, consultants and clients
• Effectively organise and manage time to meet deadlines and team objectives.
Key risk and control environment compliance
• When required, be involved in the monthly Self Assessment Testing (SAT’s)
• Review current processing to ensure all controls maintained and up to date to fit with the current tasks.
• Responsible for ensuring review and update of all current Standard Operating Procedures (SOPs) is completed on a 6 monthly basis, obtaining sign off by all team members that they have read and understood the procedures
• Escalation of any abnormal fax/electronic instruction requests received.
• Responsible for documenting and updating current workflows and task lists. Implementing any new controls and changes to workflow after appropriate sign off to minimise financial loss
• Assist with the collation of statistics including Key Risk Indications (KRIs).
• Pro-actively assess and recommend process improvements to assist in risk mitigation
• Communicate all issues effectively and ensure understanding by the team.
In addition the vice president is also expected to protect the clients’ and Banks’ interests at all times and ensure that their integrity is maintained within the market place. To ensure department procedures are maintained and internal processes can adapt to market/client demands. To maintain optimum service level for all clients ensuring any reasons for and proposed solutions to, negative trends are documented and escalated.
General Knowledge and Experience Required:
• Minimum 12 years in the Finance industry in a back officer operations environment. Experience within a Fund Manager and/or Custody operations highly regarded, as is an ability to display sound understanding of alternative assets (hedge funds, mutual funds, unit trusts, corporate actions and reconciliations)
• Minimum 9 years experience in a Team Management / Supervisory role is essential along with demonstrated leadership experience, capacity planning skills and control risk awareness. Ability to manage workflow and meet deadlines.
• Experience in managing / implementing change will be highly regarded.
• Sound knowledge of Financial Markets.
• Tertiary qualification preferable.
• Excellent verbal and written communication skills.
• Proven leadership qualities and ability to use appropriate methods and a flexible interpersonal style to motivate and build a cohesive team; facilitating the completion of team goals.
• Ability to deal with staff respectfully and fairly, providing feedback and coaching to develop and enhance team member skills.
• Ability to identify opportunities and promptly initiate action and escalate potential risks to minimise loss.
• Effective objective and goals setting skills.
• Demonstrate ability to implement and manage change.
• Effective delegating, planning and time management skills to meet strict deadlines and team objectives.
• Assume accountability through willingness to take ownership and responsibility to accomplish goals.
• Commitment to providing high standards of quality client service
• Adaptability to maintain standards and adjusting effectively to work within new work structures, processes or requirements.
• Actively contributing and participating as a member of the team and Product Group.
• Flexibility in the completion of any assigned functions
• Ability to work early morning shift starting 5 AM IST
• Ability / willingness to work overtime at short notice to ensure the daily completion of team workload, including public holidays
• Ability / Willingness to work weekends where required to facilitate incident / crisis processing.
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