JP Morgan Chase - OTC Derivative Operations Role - CIB (3-6 yrs)
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
- OTC Derivatives Operations supports a global and diverse client base. Primary functions performed: affirmation, settlement, client money daily segregation, credit event management, client valuations, regulatory reporting, and tax reporting. Facilitate transaction execution via a - best in class- systematic control framework, providing integration between risk systems (Athena, GPS, Kapital, Pyramid) and vendor platforms (DTCC / TIW / Markitwire / Thunderhead).
- Manage a portfolio of 2.5M live trades
- Monthly settlement of 600,000 payments (100% increase vs. 300,000 in 2010)
- 70,000 Dodd Frank MTM and client valuation statements issued on a daily basis
- 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 : Mumbai, India
Job Description :
- The focus of Confirmations team is to issue and execute OTC Legal Documents with the clients in a timely manner. The team is required to understand the fundamentals of the product and underlying instruments and business strategy and to continually improve control infrastructure to meet regulatory requirements and maintain control.
- Process involves drafting of confirmations from risk management system, to ensure legal documentation issued to clients is in line with Risk Management System.
Summary of Responsibilities :
- Drafting and Affirmation of Equities Derivative Trades and Legal confirmations and understand legal aspects relating to Derivatives confirmations.
- Drive Efficiency in the current process and identifying incorrect booking practice and educate Middle office on the impact
- Timely escalation of unissued/unexecuted documents.
- Building and sustaining, strong working relationships with internal Lines of Business with Middle Office, Front Office and internal Counterparts.
- Ensuring all issues are investigated and resolved in a timely manner as per Business Standards.
Skills and Qualifications :
- The candidate must be a motivated individual with a strong Partnership abilities
- ISDA knowledge and Equity Derivatives Product knowledge is preferable
- Equity Derivative experience preferable.
- The individual must be able to: handle a high level of complexity in their product coverage, be able to shift gears with relative ease, be flexible enough in shifting workload in accordance with changing priorities and
be comfortable dealing with a stressful and fast paced Trading environment.
- Good communication skills.
About Us :
- JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world- s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands.
- Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
- We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company.
- We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants- and employees- religious practices and beliefs, as well as any mental health or physical disability needs.
About the Team :
- The Corporate & Investment Bank is a global leader across investment banking, wholesale payments, markets and securities services.
- The world's most important corporations, governments and institutions entrust us with their business in more than 100 countries. We provide strategic advice, raise capital, manage risk and extend liquidity in markets around the world.
- Operations teams develop and manage innovative, secure service solutions to meet clients- needs globally.
- Developing and using the latest technology, teams work to deliver industry-leading capabilities to our clients and customers, making it easy and convenient to do business with the firm. Teams also drive growth by refining technology-driven customer and client experiences that put users first, providing an unparalleled experience.
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