J.P. Morgan Riyadh Branch, Saudi Arabia - Overview:
J.P. Morgan has been conducting business in Saudi Arabia for several decades and is the only US-based Global Banking Institution to have a full, stand-alone commercial banking license in the Kingdom.
J.P. Morgan is a leading global financial services firm with assets of $2.0 trillion and operations in more than 100 countries. The firm provides a broad range of financial services customized to meet the needs of their clients, utilizing one of the most comprehensive global product platforms available.
The firm has demonstrated its leadership in the market throughout economic instability, taking a long-term approach to client solutions. The firm's actions have always reflected a commitment to do the right for today and tomorrow. Information about the firm is available at www.jpmorganchase.com
Middle Office Unit - Description
The middle office team consists of 5 team members. The middle office team’s main responsibility is to support the treasury front office and various branch functions including transaction services, trade finance, and loans.
Key Functions & Responsibilities
Profit and Loss Reporting, Risk Management, Reconciliation:
- Produce and analyze daily Treasury Profit and Loss
- Reconcile P&L to Ledger.
- End to end control of Treasury products
- Risk reporting - Interest rate and Foreign Exchange
- Month end P&L close
- Work closely with finance to substantiate and reconcile balance sheet
- Reconcile Front Office to Back Office systems
- Reconcile Trade Finance payables and receivables to the ledger and monitor aged items.
- Control Trader's deals at initiation in the system
- Capture trade into daily trade blotter
- Maintain reference data eg, portfolio, trader, counterparty, instrument setup, settlement instructions
- Provide accurate position forecasts to front office traders for EUR, GBP, USD and a range of GCC currencies
- Track and communicate major changes in positions to Front and Back office
- Manage flow control on SARIE clearing system
- Reconcile predictions to actual balances on a daily basis.
Other Key Responsibilities:
- Commodity Murabaha processing on behalf of Saudi and international locations
- Loans Processing on behalf of the Global Corporate Bank (GCB)
- Account Services - Opening / Closing / Amending accounts and performing billing and statement processing on behalf of the Transaction services business (TS)
- Prepare weekly and monthly metrics
- Review Broker & Third Party billing charges
- Represent Saudi Middle Office in local and regional projects
- Ensure all processes adhere to JP Morgan control standards
- Product knowledge: An understanding of banking products including Repo/Reverse Repo, Fixed Income, Money Markets, Demand Deposits, FX and Interest Rate swaps
- Microsoft office knowledge required: MS Excel experience is a must
- Banking accounting knowledge required
- Finance background preferred.
- Ability to review and challenge efficiency of existing processes
- Strong interpersonal and communication skills: Ability to work with people from different teams and geographical locations.
- Strong analytical and quantitative skills
- Self-motivated and committed
- Ability to work under tight deadlines
- Fluent in English & Arabic
Role is based in Riyadh, Kingdom of Saudi Arabia
Role will report functionally to Middle Office Manager.