CIB Operations – Markets & InvestorServices – FX Services Trade Support(Middle Office) - Associate (London / Bournemouth)

  • Competitive
  • London, England, United Kingdom London England GB
  • Permanent, Full time
  • J.P.Morgan
  • 23 Jun 18 2018-06-23

CIB Operations – Markets & InvestorServices – FX Services Trade Support(Middle Office) - Associate (London / Bournemouth)

About J.P. Morgan Corporate & Investment Bank

J.P. Morgan's Corporate & Investment Bank 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 $21.7 trillion of assets under custody and $403.3 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Not only is our goal to help clients succeed; we are committed to contributing to orderly and well-functioning markets and supporting global economic growth across our businesses.

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 centres, to support our clients' needs. FX Services is part of Global FX, and provides spot and forward foreign exchange services to clients of various JPMC businesses - Investor Services, Treasury Services, Retail and Commercial Bank, and the Private Bank. Services provided include execution of client instructed FX transactions related to securities trades, dividend and income receipts, corporate actions, tax reclaim activity and payment related instructions. FX Services also provides Passive Currency Overlay (PCO) services to custody clients. Automated hedging is provided for FX market risk arising from investments in international assets denominated in currencies other than the client's base currency. The business has been at the forefront of currency risk management. Using JPMorgan's global scope, liquidity, credit quality, market intelligence and research, our clients benefit from the capabilities to manage their unique risk profile and investment objectives.

Role of the Team

The main role of the Trade Support team is to minimize operational and financial risk as well as maintaining a high quality control environment. Responsibilities are aligned as follows:

  • The FX Services Trade Support team provides support to the Global Solutions Trading desk. The team is responsible for running a bespoke set of controls including various static data reconciliations, monitoring of accurate and fair client pricing, liquidity provider checks and ensuring the desk follow due process on executions for Affiliate and ERISA clients.

  • The Passive Currency Overlay (PCO) Client Service team provides support to the Global Hedging Solutions desk by way of approved user defined tools known as the Reporting Control Suite ('RCS'). These control suites are designed to reconcile a subset of client reports, post execution reconciliations and ensuring the trading activity is accurate and in-line with the clients legally agreed hedging program.
Key Responsibilities

  • Perform & manage detailed trade reconciliations across FX Services and PCO flows which include (but not limited to) regulatory (ERISA & Affiliate), Pricing & Rate tolerances, Liquidity, Static data, Unallocated and PCO daily/weekly/monthly client specific reconciliations.
  • Trade processing of bulk / complex trade amendments and cancellations.
  • Deal query resolution from key stakeholders with root cause analysis.
  • Build and foster relationships across multiple lines of business partnering with key stakeholders for query resolution, identifying areas of efficiency and automation, managing and escalating known issues, risks & dependencies.
  • Actively participate in FX Services and PCO initiatives, programs and projects including stakeholder management, communication and delivery.
  • Identify areas of opportunity for process improvements, trade reconciliation consolidation & automation and take appropriate actions to deliver innovative strategic controlled solutions through risk and root cause analysis.
  • Collate and produce key MIS/KPI on key controls for monthly key stakeholder / management reporting.

Position Requirements

  • University degree, proven CIB Markets Business Middle Office, Technology or Risk Management experience desired but not mandatory.
  • A solid level of derivatives product knowledge and an understanding of CIB Risk and/or Middle Office systems.
  • FX experience is highly desirable due to the complexity of the trade flows the team supports.
  • Strong analytical skills to evaluate bespoke Client models, operational processes and potential model re-engineering.
  • Strong MS Office skills (predominately Excel, Access and PowerPoint) and ability to use web-based technology effectively.
  • Strong verbal, written and interpersonal communication skills to build relationships with senior business stakeholders and Clients.
  • Refined analysis skills with the ability to analyze large and complex data sets to identify problems and propose solutions.
  • Ability to summarize analysis and present to the Business; facilitating / obtaining buy-in for desired objectives.
  • Proactive approach with the ability to deliver value-added support both within the team and also to business partners in a dependable, accurate and timely manner.
  • Strong organizational skills with the ability to manage multiple responsibilities and accept new assignments while maintaining high standards.
  • Ability to be flexible, follow tight deadlines, work under pressure, multi task and prioritize workloads.
  • Act independently and autonomously in facing off to the various stakeholder groups outlined above in order to drive the internal decision making process.
  • Disciplined, self-motivated, and delivery-focused individual who is able to work independently where required.
  • Excellent and efficient time management skills to be able to prioritize and manage workloads alongside delivering wider business initiatives.
  • Motivation to self-start as well as ability to work as part of a high performing team.
  • Capacity to think laterally and understand the big picture.