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CIB Operations (Derivatives Ops) - TBA Margin Operations - Delaware - Analyst

Req #: 180023148
Location: Newark, DE, US
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
 
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
 
Happy to talk flexible working.
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 Repo/TBA Margin Team is a member of Collateral Operations Services within the CIB. The team is responsible for the end to end margin process for both the Global Finance Desk and the Securitized Products Group. The key objective of this team is to mitigate risk associated with Repo and TBA transactions. The daily process includes but is not limited to; margin call and collateral maintenance, dispute resolution, client query management, reporting and ad-hoc requests and projects. The Repo/TBA Margin Team member will interact with clients, front office, credit, sales, settlements, business stakeholders and management. 
 
 
Summary of Responsibilities
  • Dealing with wide ranging client base in order to issue and respond to margin calls
  • Ensuring that the collateral relationship and collateral activity complies with legal agreements
  • Responding to client inquiries, and when needed, coordinate with traders, sales people, and credit executives
  • Agreeing on the amount and type of collateral to be moved.
  • Reconciliation and dispute resolution with regards to disputes or credit sensitive customers.
  • Month end tasks including the agreement of interest on any collateral held/delivered.
  • Ensuring compliance with internal and external rules and regulations
  • Understanding the underlying Repo and TBA transactions as well as the overall business
Skills and Qualifications
Essential Skills:
 
  • 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 needs.
  • High level of accuracy and attention to detail is required.
  • Ability to work with minimal supervision.
  • Ability to work in a methodical and organised manner and to follow procedures.
  • Ability to work as part of a team and be flexible during busy periods such as month end.
  • Strong Risk and Control Awareness – with the ability to push back on stakeholders when risk/controls could be compromised.
 
Desirable Skills
  • Knowledge of Fixed Income products and or MBS/TBA products.
  • Microsoft Office – ability to analyze data effectively using Excel with an ability to write and manipulate macros.
  • Strategic thinker, able to review and implement process improvements.
  • Previous operational experience preferred in a financial institution.
 
 
 
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