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.
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.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.