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CIB Operations (Derivatives Ops) - REPO Collateral Operations Manager - Bournemouth - Vice President

Req #: 180005237
Location: Bournemouth, ENG, UK
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, 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.
 
Location Description
 
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 Sports 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.
 
Job Description
 
This role will manage the REPO Collateral Operations team and be responsible for the team that performs the day to day operation for the following core functions;
  • Management of 6 FTE based in Bournemouth.
  • Issuance of collateral calls/statements across fixed income repo performed by the REPO Collateral team.
  • Agreement of collateral calls and management of the dispute resolution process where clients do not fully agree with JPMorgan’s call with escalation to REPO Front Office/Credit Officers.
  • Management and escalation of collateral failed settlements
  • Resource/plan management & recruitment/performance management
  • Identifying opportunities to improve the quality of service delivered to clients & Client education (as required).
  • Timely and appropriate escalation and ownership/resolution of issues.
  • Partnering with Front Office to design and implement solutions for complex client and business driven requirements.
  • Partnering with FIF business partners to implement regulatory and strategic technology changes.
  • Continuous improvement and focus and providing feedback to other groups in relation to where processes/controls could be enhanced.
  • Partnering with the managers of settlements/core processing teams to maintain an efficient and controlled operating process between the groups.
  • Serve as an escalation contact in EMEA for senior business partners with respect to collateral disputes.
 
 
Summary of Responsibilities
 
  • Strong management and leadership skills and an ability to create an inclusive team culture motivate and maintain high levels of morale.
  • Client focused with the ability to balance client demands with the need to limit manual processing in a controlled environment.
  • Problem solver with the ability to assist in the development of solutions for clients and business partners in a challenging and changing environment.
  • High level of accuracy and attention to detail is required.
  • Actively manage issues/escalations as they arise and address root causes in partnership with functional teams.
Skills and Qualifications
 
  • Proven track record of driving and implementing change, improving processes and controls, and automating manual processes
  • Strategic thinker, able to review and implement process improvements.
  • Strong people management and development skills.
  • Knowledge of Fixed Income Financing products would be an advantage.
  • Working knowledge of Collateral Management and supporting Legal documentation (e.g. GMRA) would be an advantage.
    Would suit someone looking for a flexible working opportunity
     
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