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CIB Operations (Derivatives Ops) – Global Clearing Treasury Operations - Bournemouth - Associate

Req #: 180005728
Location: Bournemouth, ENG, UK
Job Category: Operations
Job Description:
CIB Operations – Global Clearing Treasury Operations – Associate - Bournemouth
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 
Global Clearing Operations supports Clearing, Reconciliations, Middle Office, F&O House Ops, Expiries & Deliveries, Settlement, Brokerage, Client On-boarding, Client Money, Regulatory Reporting, Static Data Management and Position Management.
  • JPM is the 2nd largest Futures Commission Merchant based on Client Assets
  • Processes ~750,000 cleared and intermediated trades daily
  • Provides clearing at 62 global Clearing Houses
  • Settled USD equivalent 24.3Bn in physical deliveries Q1 2016
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.
Position Description:
 The position is in the Treasury Operations team within Global Clearing. The team is responsible for Treasury functions including cash funding, global settlements, FX processing, reconciliation and break resolution, collateral management for margin obligations at Central Counterparties and owning the full life cycle of the underlying securities trades of expired options and futures.
The roles & responsibilities of the Treasury Operations Associate are as follows:
  • Oversight and/or Team leadership/Management of a Futures & Options Treasury Operations team
  • Ability to understand and implement complex change requests within the Derivatives & F&O business
  • Drive the Operations business transformation agenda
  • Strong awareness of Industry change impacting the Derivatives Environment. I.e. EMIR, Dodd Frank, CASS, Margin rules
  • Accountability for accuracy of team output , ongoing efficiencies and process improvements
  • Proactive management of operational risk, recognition of gaps and development of solutions
  • Lead and oversee operational changes, providing direction/support, accountability for successful implementation
  • Capacity management across own team both within location and across locations as required, to include crisis management, acting as an escalation point for production issues across locations
  • Liaising with all internal stakeholders to ensure controlled and timely deliveries are met on a daily basis.
  • Understand and ensure compliance with all control and regulatory requirements
  • Identify process improvements and efficiency opportunities in daily workflow
  • To proactively identify any recurring issues and fix accordingly.
  • Building and sustaining, strong working relationships with internal lines of business and the external client base.
  • Oversee all Audit liaison and prioritize accordingly
  • Ensuring that all escalations are investigated and resolved in a timely manner
  • Strong Partnership with the global team that are based in Delaware, Chicago, Mumbai & Singapore
  • Adhere to operational procedures to ensure a controlled environment
  • Ensure all exchange and client deliveries are settled within exchange deadlineS
  • Effective and accurate funding of exchange accounts during fixed income & equity deliveries
  • Processing of client FX transactions
  • Escalation of issues where appropriate to Management
  • CASS responsibilities for cash and collateral obligations
  • Ad hoc request management and investigation of operational issues
Essential Skills:
A Treasury Operations Specialist should possess the following skills:
  • Previous Operations management experience with a strong background in Derivatives/Futures & Options.
  • Strong familiarity with OTC Derivative products across all Asset Classes
  • Must be detail oriented, highly responsible and able to ensure work is managed  within all Service Level Agreements
  • Proven experience of managing complex processing and ability to change and challenge the status quo
  • External Client services experience, or similar experience interacting with senior/demanding internal clients.
  • Proven experience of effective relationship building with a wide variety of stakeholders, for example; Clients, Credit Execs and Business Partners.
  • Must be attentive and responsive to client needs.
  • High level of accuracy and attention to detail is required.
  • Ability to work with minimal supervision.
  • Ability to Work in a methodical and organised manner and to follow procedures.
  • Excellent client communication skills and telephone manner and a strong ability to build client relationships.
  • Must be highly numerate with good keyboard and core system (Outlook, Excel, Word) skills.
  • Ability to work as part of a team and be flexible during busy periods such as month end.
  • Ability to prioritise workflow and work to strict deadlines agreed in legal documentation.
  • Strong Risk and Control Awareness – with the ability to push back on stakeholders when risk/controls could be compromised.
  • Strong oral and written communication skills.
  • Strategic thinker, able to review and implement process improvements.
  • Working closely with global team, Operations teams are based in London, Delaware, Singapore, Chicago and Mumbai
  • Self motivated and flexible approach to working hours
  • Participate in the implementation of strategic and ongoing STP initiatives
  • Dynamic & proactive team player, ensuring that the team works together in the most efficient manner
  • An ability to identify process & procedural inefficiencies to improve capacity, efficiency and control.
  • Knowledge of cash funding, global settlements & reconciliations are desired but not essential
  • Excellent communication (written and verbal), analytical and interpersonal skills.
  • Ability to adhere to strict deadlines and procedures
  • Strong client focus and attention to customer care
  • Ability to work effectively under pressure with an high accuracy rate
The hiring manager for this job opening would be willing to have a conversation about flexibility.  This could range from ad hoc flexibility in a full time position, to a more formal Flexible Work Arrangement.  The hiring manager is not committing to offering this, just highlighting openness to having the conversation. 
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