J.P. Morgan is a top tier liquidity provider in global FX markets offering competitive pricing across 300 currency pairs in cash and derivative products. We offer a full spectrum of currency services - from plain vanilla to exotic options; from major currencies to emerging markets. Operations specialists are located in all major FX centers, to support our clients' needs.
FX Services Business
FX Services is part of Global FX, and provides spot and forward foreign exchange services to clients of various JPMC businesses i.e. Investor Services, Treasury Services, Retail and Commercial Bank, and the Private Bank. Services provided include execution of client instructed FX transactions related to securities trades, dividend and income receipts, corporate actions, tax reclaim activity and payment related instructions.
FX Services also provides Passive Currency Overlay (PCO) services predominantly to custody clients. Automated hedging is provided for FX market risk arising from investments in international assets denominated in currencies other than the client’s base currency.
The FX Services business has been at the forefront of currency risk management. Using JPMorgan’s global scope, liquidity, credit quality, market intelligence and research, our clients benefit from our global capabilities to manage their unique risk profile and investment objectives.
FX Services Trade Support
The main role of the Trade Support team is to minimize operational and financial risk as well as maintaining a high quality control environment. Responsibilities are split as follows:
The FX Services Trade Support team provides support to the Global Solutions Trading desk. The team is responsible for running a bespoke set of controls outside of the more standard Middle Office type controls, including various static data reconciliations; monitoring of accurate and fair client pricing; liquidity provider checks; and ensuring the desk follow due process on executions for Affiliate and ERISA clients.
The Passive Currency Overlay Trade Support team provides support to the Global Hedging Solutions desk by way of approved user defined tools known as the Reporting Control Suite (‘RCS’). These control suites are designed to reconcile a subset of client reports, post execution, to ensure the trading activity is accurate and in line with the clients legally agreed hedging program.
The successful candidate will be responsible for management oversight of both functions with support teams based in Bournemouth and Buenos Aires.
Ø Numerous reconciliations including: FOBO recs, rate tolerance controls, static data checks, PCO daily/weekly/monthly client specific reconciliations, liquidity checks, unallocated trades
Ø Trade capture and processing of trade amends and cancellations
Ø Deal query resolution from Back Office / Front Office / Clients – monitoring root causes for patterns
Ø Monitoring and managing changes to client agreements / contracts
Ø New PCO client account rec build outs
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