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
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.
Bournemouth. Over 4,000 employees work at the Bournemouth Corporate Center. We take immense pride in our work and in helping our community. We’re proud to leverage the local workforce and engage closely with local schools and charities. Our campus is set in 13 acres of grounds and includes on-site Tennis Courts and easy access to local sports facilities. We have good transport links including our commuter bus service. The site is currently benefitting from massive investment, redeveloping the office space into a High Performance Workspace and adding exciting new offerings to our communal spaces. We have 2 restaurants on site offering a wide range of healthy options. The staff are able to join in a wide range of groups from yoga to language classes, to groups supporting the diverse range of cultures represented here.
CIB – Derivatives Operations- EMEA Collateral Operations – Client Service Representative – Associate – 601
The Collateral Services team provides a controlled environment for the mitigation of counterparty risk via the monitoring and collection of collateral for the CIB trading businesses including; Fixed Income, FX, Equity Derivatives, Credit Derivatives, Commodities, Prime Brokerage and Fixed Income Repo.
The team is primarily responsible for:
- Management of a portfolio of clients, providing consultation and expert advice.
- Facing internal and external clients, to involve resolving relationship issues and significant client matters on behalf of the business.
- Issuance, receipt and monitoring of margin calls in accordance with the terms of the collateral agreements for OTC Derivatives
- Resolution, control and escalation of collateral disputes and fails to senior management and credit risk teams.
- Settlement, Recording, reconciliation and control of cash or securities received/posted as collateral.
Key objectives of this team are to provide clients with the option of receiving single consolidated reporting/statements, a single funding point for settlement activity and a single point of contact for supporting daily activity across Derivatives Collateral Management teams.
The Bournemouth based Client Service Representative team primarily deals with the banks priority buy-side clients (Hedge Funds, Investment Advisors/Asset Managers) and partners internally with various Marketers/Salespeople, Prime Brokerage, Credit Executives, Middle Offices and other line of Business Operations Teams.
The successful candidate will be a Client Service Representative (CSR) within the Derivatives Collateral Client Service Margin team based in Bournemouth
Summary of Responsibilities
Key role responsibilities are detailed below:
- High level of customer interaction. Generating collateral statements and sending calls to clients for both standard and non-standard agreements. Timely follow up of all calls made by JPMorgan.
- Answering of incoming collateral calls sent by clients comparing them to JP Morgan's exposure.
- Agreeing on the amount and type of collateral to be moved. I.e. Cash or securities; follow up on any counterparty fails.
Timely resolution of incoming queries regarding a client’s portfolio, escalation of issues, reconciliation and dispute resolution with regards to disputes or credit sensitive customers.
- Agreement of coupons due on securities held as collateral & processing of month end tasks including the agreement of interest on any cash collateral held/delivered.
Participation in projects, testing to ensure JPM operating infrastructure continues to be enhanced and developed to meet the business needs (Occasional weekend testing support may be required)
Skills and Qualifications
- External Client services experience, or similar experience interacting with senior/demanding internal clients with strong client communication skills and an strong ability to build client relationships
- High level of accuracy and attention to detail is required with an ability to work with minimal supervision and in a methodical and organized manner and to follow procedures.
- Must be highly numerate with good keyboard and core system (Outlook, Excel, and Word) skills.
- Ability to work as part of a team and be flexible during busy periods such as month end & self motivated and flexible approach to working hours
- Working knowledge of OTC Derivatives Collateral Management and supporting Legal documentation (E.g. ISDA, GMRA) is advantageous
Would suit somebody looking for a flexible working opportunity