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CIB - Transaction Processing Manager - Associate

Req #: 180027463
Location: Mumbai, MH, IN
Job Category: Operations
Job Description:

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.

CIB - Third Party Derivatives Services

Description

 

Background

 

The purpose of the Derivatives Business is to provide Over the Counter (OTC) derivatives support to institutional clients, asset managers, hedge funds and insurance companies who have outsourced part or all of their operations to J.P. Morgan. Client scope will include all existing relationships including recent flagship deals. In addition the Utility will be supporting other groups within the WSS business in respect of derivative activity (e.g. the Derivatives Collateral Management product )

 

 

Core Services

 

Key components of the product will be:

 

·       Valuation - take-on of the client transaction and daily valuation across all derivatives (credit, equity and interest rate)

·       Lifecycle Management - trade maintenance, trade support

·       Management of Settlement - including resolution of breaks

·       Reconciliation Services - around valuation, cash and confirmation processes

 

Functional Organisation

 

The hub will be organised with the Business Executive, Business Development and OTC Valuation and Product Specialists based in London.  There is also a Program Office reporting to the Operations Head to support the strategic development of the operating models plus client on-boarding.

 

Valuation and Product Specialists will be responsible for market data capture and management, independent valuation and client interface in respect of valuation differences.

 

Operations will undertake transaction capture and maintenance, reconciliation, client reporting, client accounting, cash management, internal and external client management.

 

Qualifications

 

Cash Breaks Management - Core Responsibilities

 

Key components of the role will be:

 

Perform reconciliation between Broker / Counterparty vs Client to ensure the client books are in line with respective brokers

• Detailed investigation of the breaks

• Liaise with external clients and counterparties for breaks resolution

• Attend Client calls in presence of onshore team to discuss the status of the breaks resolution & any other client request / issues

• Liaise with internal team for breaks resolution

• Provide MIS reporting on break status

• Provide weekly KPI information to management

• Ensure team meet designated deadlines in line with internal SLA's

• Proactive & transparent communication to all stakeholders relating to delivery

• Provide comprehensive error reporting when such instances occur, and evidence action plan to ensure any identified gaps are closed

• Undertake root cause analysis of regular breaks

• Escalate issues to designated parties to agreed timescales

• Identify process improvements to contribute to best practice

Core reconciliations - Core Responsibilities

 

Key components of the role will be:

 

Perform reconciliation between Fund Manager / Investment Manager vs Client to ensure completeness and Accuracy of Trade bookings.

• Detailed investigation of the breaks

• Liaise with external clients and counterparties for breaks resolution

• Liaise with internal Fund Accounting, Client Service and Custody groups for breaks resolution

• Liaise with internal team for breaks resolution

• Provide MIS reporting on break status

• Provide weekly KPI information to management

• Ensure team meet designated deadlines in line with internal SLA's

• Proactive & Transparent communication to all stakeholders relating to delivery

• Provide comprehensive error reporting when such instances occur, and evidence action plan to ensure any identified gaps are closed

• Undertake root cause analysis of regular breaks

• Escalate issues to designated parties to agreed timescales

 

 

 

Qualifications

 

Cash Breaks Management - Core Responsibilities

 

Key components of the role will be:

 

Perform reconciliation between Broker / Counterparty vs Client to ensure the client books are in line with respective brokers

• Detailed investigation of the breaks

• Liaise with external clients and counterparties for breaks resolution

• Attend Client calls in presence of onshore team to discuss the status of the breaks resolution & any other client request / issues

• Liaise with internal team for breaks resolution

• Provide MIS reporting on break status

• Provide weekly KPI information to management

• Ensure team meet designated deadlines in line with internal SLA's

• Proactive & transparent communication to all stakeholders relating to delivery

• Provide comprehensive error reporting when such instances occur, and evidence action plan to ensure any identified gaps are closed

• Undertake root cause analysis of regular breaks

• Escalate issues to designated parties to agreed timescales

• Identify process improvements to contribute to best practice

Core reconciliations - Core Responsibilities

 

Key components of the role will be:

 

Perform reconciliation between Fund Manager / Investment Manager vs Client to ensure completeness and Accuracy of Trade bookings.

• Detailed investigation of the breaks

• Liaise with external clients and counterparties for breaks resolution

• Liaise with internal Fund Accounting, Client Service and Custody groups for breaks resolution

• Liaise with internal team for breaks resolution

• Provide MIS reporting on break status

• Provide weekly KPI information to management

• Ensure team meet designated deadlines in line with internal SLA's

• Proactive & Transparent communication to all stakeholders relating to delivery

• Provide comprehensive error reporting when such instances occur, and evidence action plan to ensure any identified gaps are closed

• Undertake root cause analysis of regular breaks

• Escalate issues to designated parties to agreed timescales

Core Competencies

 

·       Previous experience of reconciliation

·       Sound knowledge of basic accounting (ie. debits/ credits)

·       Excellent communication, interaction and influencing skills

·       Strong PC skills, particularly Excel

·       An understanding of derivatives and fund accounting processes is a distinct advantage

·       Knowledge of custody and settlement is an advantage

·       A proactive approach to problem solving, taking ownership of issues and having the determination to follow things through

·       Self motivated, innovative, methodical and analytical

·       Good prioritisation and time management

·       Flexible approach to hours and task allocation

·       Good knowledge of risk and controls

 

 

Dimensions

 

·        Size and scale of transactions to be administered to be determined

 

Level and Experience

 

·       Relevant working experience in a Fund Manager/Fund Administration or Investor Servicing Company or other related business experience

·       Training or academic background in Derivatives / Investment / Settlements/Reconciliations or Mathematics

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