Executive Director / Global Head of Commercial Control
Global Clearing Operations
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 Operationsprovides operational support across the CIB covering six key product areas including FX, OTC Derivatives, Collateral Principal, Cleared Derivatives, Brokerage and CASS with ~1,600 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 invoice
India Global Service Centre - Bengaluru
Broad businesses under the Investment Banking Ops - India umbrella are Credit, Rates, Emerging Markets, Equities, Fixed Income, Commodities, Futures & Options, GCRM, IB Loans, Brokerage Control, and Foreign Exchange Operations. Functions include interfacing with both internal business partners i.e. the middle offices and front offices as well as external counter-parties.
Global Clearing Operations supports Clearing, Reconciliations, Middle Office, F&O House Ops, Expiries & Deliveries, Settlement, Commercial Control, Brokerage, Client On-boarding, Client Money, Regulatory Reporting, Static Data Management and Position Management.
· JPM is the largest Futures Commission Merchant based on revenue
· Processes and average of more than 800,000 cleared and intermediated trades daily
· Services ~1,000 clients across 38 CCPs & 64 Exchanges in 20 different regulatory environments
Global Clearing Operations is located in 9 centres around the world, providing operational support to the largest Clearing business in the industry by revenues. As a business, Global Clearing Operations routinely manages the clearing of in excess of one million trades a day for our clients, and all the related downstream processes. Over a period of years JPMorgan has invested considerable effort and resources in the design and development of a market-leading Commercial Control framework, encompassing technology systems and operational processes to ensure accurate commissioning, charging of exchange fees, and processing of brokerage. The delivery of this framework is in its later stages, and the primary challenge now is to transition from a period of radical process change into a normalized Business As Usual support model. This requires a high degree of partnership and communication with global business partners in the Execution and Clearing businesses, playing a leading role in industry forums, particularly aligned to brokerage, and management of a tightly controlled processing and reconciliation framework, with associated technology-driven strategic projects, and self-driven process improvements, continually in-flight. The Commercial Control function is highly regulated, and interaction with global regulators can also be anticipated within this role. The Global Head of Commercial Control will be directly responsible for all Bengaluru-based resources employed in Commission Maintenance, Exchange Fee Maintenance and Reconciliation and Brokerage, as well as functionally responsible for all teams and individuals engaged in these processes in other locations (currently London, Chicago and Buenos Aires). The Global Head of Commercial Control will be responsible for maintaining the highest standards of Business As Usual execution of all operational functions as well as driving strategic direction and implementation of top-down and bottom-up initiatives aimed at reducing manual processing, simplifying the control environment, and enhancing client experience. This will include budget and resource planning and management for the global Commercial Control function.
The individual will be constantly looking at ways to improve the offering and challenge any existing processes and will frequently need to think on their feet as new challenges will arise frequently from operational processes. They will need to be organized and have the ability to multitask in a high-pressure environment
The candidate must be able to demonstrate:
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