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CIB Operations (Derivatives Ops) - Global Clearing Operations Associate

Req #: 180014124
Location: Bournemouth, ENG, UK
Job Category: Operations
Job Description:
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.
 
Derivative Operations provides operational support across the CIB covering eight key product areas including FX, OTC Derivatives, Collateral Principal, 3rd Party Derivatives, Cleared Derivatives, Agency Collateral, Billing and CASS with ~1,900 employees.  Services provided to our Businesses include:
  • Transaction Processing, Confirmation, Settlement and Clearing, Collateral Management, Client Service, Invoicing and CASS Support
  • Typical daily activity includes settling in excess of $217B via FX trading, leading a Markets OTC portfolio of 2.5M trades, servicing >200 3rd party clients, performing 10,000 margin calls, processing 470k cleared and intermediated trades and producing >9,000 invoices
 
Global Clearing Operations supports Clearing, Reconciliations, Middle Office, F&O House Ops, Expiries & Deliveries, Settlement, Brokerage, Client On-boarding, Client Money, Regulatory Reporting, Static Data Management and Position Management.
  • JPM is the 2nd largest Futures Commission Merchant based on Client Assets
  • Processes ~750,000 cleared and intermediated trades daily
  • Provides clearing at 62 global Clearing Houses
  • Settled USD equivalent 24.3Bn in physical deliveries Q1 2016
 
Location Description
 
BournemouthOver 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 DCO Middle Office Clearing team is responsible for top day position maintenance of all EMEA voice executed Futures and Options trades using the relevant markets watches and exchange GUIs. It is our responsibility to clear and reconcile all trades efficiently and accurately, chasing for allocations where needed and monitoring STP allocation systems for failures. We are also responsible for testing key systems in preparation for new releases of software due to regulatory change, efficiency improvements or bug fixes.

Summary of Responsibilities
 
Post-trade allocations
  • Ensuring all trades are allocated on top day for the execution business. All aged trades without allocations should be escalated to the execution desk/ CSR.
Resolving top day issues
  • Working with the execution desks, client services, and the brokerage and reconciliations team to ensure that all top day execution and commission breaks are resolved in a timely manner.
 Mailbox maintenance and query resolution
  • Responsibility to review all emails into F O EMEA CLEARING mailbox. Responding to queries and resolving issues in good time before handling over to the NA team for global coverage.
Point of contact
  • Acting as the point of contact for all execution queries. Liaising with TA’s, working with client services and operations to ensure that all execution issues are dealt with appropriately and on a timely basis.
 System Testing
  • To ensure that all technology system changes are robustly tested to ensure they have desired effect and interact with any upstream, downstream or lateral systems as expected.
Skills and Qualifications
 
  • Detail oriented with excellent numerical/analytical skills.
  • Control minded.
  • Works well under pressure and has the ability to multi task.
  • Self-starter, highly motivated and driven.
  • Team player who enjoys working in a fast paced environment
 
 
Shift pattern is in place 10:30am until 18:30pm
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