CIB Risk - Market Risk Coverage - Global Rates - Associate – New York
Req #: 170087508
Job Category: Accounting/Finance/Audit/Risk
About J.P. Morgan’s Corporate & Investment Bank
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at www.jpmorgan.com
Market Risk is an independent control group which performs a key role in J.P. Morgan's control framework. Market Risk teams are organized to cover the main trading divisions. This role is to be a part of the Market Risk Coverage team for Non-Linear Rates in North America consisting of four independent desks - Flow Options, Exotics and Hybrids, Inflation and Structured Insurance Derivatives (BOLI/Stable Value/REG30). We work in partnership with the business to ensure that risk positions are adequately identified, measured, monitored and controlled.
Given the complexity of the firm's derivative portfolios, Market Risk is uniquely positioned as the team that ensures all market risks are made transparent to senior management, the businesses, regulators and investors. MR highlights concentrations in risk and works with the trading and quantitative groups to fully understand their implications from a risk/return perspective. Market Risk works to optimize the firms return on risk and to reduce volatility in operating performance.
The coverage group forms the primary interface for discussing risk issues with the Front Office.
Coverage of industry-leading North America Non-Linear Rates Business primarily focused on Exotics & Hybrids; and Structured Insurance Derivatives; along with support for Flow Options. The coverage will involve a very broad spectrum of products from Vanilla Options to relatively more complex Exotic products such as Yield Curve Spread Options, Range Accrual Binaries, Cross-Asset Hybrids (Equity-Rates, Rates-FX, Rates-Credit etc), as well as regulation heavy Insurance Derivatives such Bank-Owned Life Insurance and Longevity/Mortality Swaps.
- Liaise with the Front Office, Credit, Finance, Valuation & Policy group, Quantitative Research, Model Review Group, and Middle Office on risk management issues.
- Provide insightful risk updates on regular and ad-hoc basis to senior Front Office and Market Risk managers. Highlight concentrated risk positions and work with Desk Heads and risk community to ensure appropriate reporting, transparency and management; Track current market environment against core risks to ensure P&L surprises are avoided;
- Provide leadership on Value at Risk and Stress Scenarios methodology while working closely with VaR Methodology Group and MR Stress Team;
- Responsible for estimating and calibrating risk appetite for Market Risk Limits framework;
- Analyze complex transactions for pre-trade approvals
- Partner with Front Office and other Market Risk coverage groups to develop new tools and metrics to make the important risks and P&L drivers more transparent to senior management;
- Provide crucial oversight of risk data – interact with several areas to improve risk reporting and infrastructure. Lead risk infrastructure projects across Market Risk System and several product systems;
- Develop understanding of regulatory and policy requirements;
- Strong analytical & quantitative skills; fundamental knowledge of Fixed Income Securities and Derivatives required
- Clear oral and written communication, strong interpersonal skills
- Experience in market risk management or trading team is preferred;
- Ability to work independently with limited supervision; must be able to make clear recommendations to senior desk managers;
- Experience in working with different team towards execution of large projects