CIB Operations - Non Linear FX Middle Office - Associate - London

  • Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • J.P Morgan
  • 28 Sep 16

See job description for details

Department Description

J.P. Morgan is a top tier liquidity provider in global FX markets offering competitive pricing across 300 currency pairs in cash and derivative products. We offer a full spectrum of currency services - from plain vanilla to exotic options; from major currencies to emerging markets. Operations specialists are located in all major FX centers, to support our clients' needs.

Non Linear FX Middle Office is divided into two major functions: FX Options Trade Support and Passive Currency Overlay Middle Office. The successful candidate will take on various responsibilities in both teams.

The FX Options Trade Support team provides support to the FX Options trading and structuring business. Structured investments are increasingly popular as investors seek to more efficiently broaden their exposure and manage risk while enhancing their portfolio returns. The wide scope of structured products allows investors to take advantage of market variables to increase potential returns in addition to providing solutions tailored to different investment horizons and risk profiles. The Structuring support staff must maintain an operating model flexible enough to adapt to innovation in the business, yet scalable enough to sustain a rigorous controls environment.

Key Responsib ilities

Based in London, the role will report to the EMEA Non Linear FX Middle Office Manager .

Key responsibilities:

  • Maintain risk management and downstream system integrity of a blended portfolio of exotic FX options and IR swaps, providing P&L and greek portfolio changes to trading desk and FX structuring team.

  • Decompose, analyze and approve structured term-sheets and OTC derivative payouts

  • Actively participate in FX Options, Currency Solutions and PCO specific projects, providing operational and control perspective

  • Identify and address opportunities for improvement; taking appropriate actions to deliver simple and innovative solutions that improve the business and initiate and effect positive change.

  • Proactively identify issues/gaps within the processes and offer solutions to close the gaps; identify root cause of problems and implement robust, strategic, controlled and cost effective solutions/recommendations.

  • Change Management - Ability to re-prioritize plans, requirements due to shifting business priorities in order to meet deliverable deadlines;

  • Numerous reconciliations including: Front to Middle office Rec, Off-Market reporting, Early Terminations, back to back trades, MTM reporting, Daily/weekly/monthly client specific reconciliations

  • Trade capture and processing of amends and cancellations.

  • Monitor and manage changes to client agreements / contracts


Essential qualifications

  • Degree educated

  • Previous experience in a Trade Support Role or of the FX Options product

  • Experience of reengineering processes and achieving positive change.

  • A sound understanding of Foreign Exchange products and Operations processes and an in depth product knowledge of Front to Back FX life cycles.

  • Effective and confident communicator in order to deal with a diverse range of staff and clients and be able to succeed in a demanding and fast paced environment.

  • Intermediate experience with MS Excel

  • Intermediate quantitative aptitude

    Desirable qualities

  • Highly articulate, motivated, very flexible and will use their initiative to fully develop the role.

  • Ability to interface and influence at all levels.

  • An independent, analytical thinker who can quickly assimilate situations through to the associated risks, business or control issues.

  • Committed and hardworking with a strong ability to prioritise as this role will be demanding in both terms of quantity and pressure of work.

  • Needs to be highly numerate with excellent keyboard skills and a high-level of computer literacy.

  • Needs to be aware and have an understanding of the large financial risks that can be incurred through operational errors and control risks.

About J.P. Morgan Corporate & Investment Bank

J.P. Morgan’s Corporate & Investment Bank (CIB) 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.

About J.P. Morgan Chase & Co.

J.P. Morgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, J.P. Morgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about J.P. Morgan Chase & Co. is available at .