JPMorgan Chase Derivatives Clearing Client Account Manager in New York, New York
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.
Our Derivatives Clearing business works as a single service provider across the trade life cycle, helping clients execute, clear and settle transactions across a broad suite of products.
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:
Account Operations, 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
Derivatives Clearing Operations serves as the primary operations arm for the Derivatives Clearing business. The group supports Clearing, Reconciliations, Middle Office, F&O House Operations, Expiries & Deliveries, Settlement, Brokerage, Client On-boarding, Client Money, Regulatory Reporting, Static Data Management and Position Management.
JPM is the largest Futures Commission Merchant based on Client Assets
The firm processes over 750,000 cleared and intermediated trades daily
We provides clearing at 62 global Clearing Houses
Our team Settled USD equivalent 24.3Bn in physical deliveries Q1 2016
The Derivatives Clearing Account Operations team is responsible for the creation and maintenance of client accounts for its Clearing and Prime Brokerage product offerings. These offerings cover a number of products including; Listed Futures & Options, OTC Credit, Rates, Equity Options and Foreign Exchange. The primary functions will focus on day to day account setup and client configuration. Candidates will have to have a strong understanding of the aforementioned products, as well as working knowledge of the overall clearing model. The successful candidate will also be responsible for assisting in the resolution of trade breaks relating to reference data and account setups. This will require the candidate to develop a deep understanding of the firm’s system architecture and processes. The role will also involve partnering with a number of stakeholders as well as downstream partners (often spanning the globe), therefore candidates with strong interpersonal and project management skills are preferred. Additionally, as our business’ product offering is ever expanding, candidates will be expected to play key roles in developing of new process and products. This role will involve daily interaction with clients, middle office & operations groups globally as well as frequent interaction with technology and project delivery teams.
Summary of Responsibilities
End to end owner of the client account setup process.
Partner with business partners to understand the clients required service needs. Validate client requirements vs services offered and implement support processes where necessary.
Management of client account reference data.
Assist in the resolution of reference data related trade breaks.
Aid in the development of new derivatives clearing products and the associated account structures.
2+ years in the financial services industry, a related field, or equivalent work experience required.
Working knowledge of the Clearing product with experience supporting one (or more) of the following products: Futures & Options, Credit Derivatives, Interest Rate Derivatives, and Foreign Exchange.
Strong technical skills: Highly proficient with Microsoft Office applications is mandatory, particularly Excel. Data analytics skills and comfort working with big data ideal. Experience with some form of coding (VBA, SQL, Python, or Java) would be a plus.
Minimum Bachelor’s degree.
Interpersonal Skill Requirements
In addition to the above technical skills, the successful candidate will be able to demonstrate the following qualities:
Must have the ability to perform in a fast paced and demanding work environment.
Reliable, courteous and Professional: Takes ownership and demonstrates commitment. Etiquette, integrity and an understanding of the value of diversity is a must.
Demonstrates Strong Emotional Intelligence: Composure in challenging situations. Listens, and manages the conversation, offers support, Identifies the root causes and takes action. Has perspective and can see issues and goals from different angles and levels.
The ability to deliver on aggressive timelines. Strong partnership and leadership qualities will be preferred.
Sound Judgment and effective communication skills are required. Must possess excellent written and verbal skills as networking is required for effective delivery.
Exhibits Excellent Team Working Skills and Personal Motivation: Quick learner, open approach, respectful energetic, self-motivated and can motivate others. Keen to initiate and try new smart working ideas.
Builds Customer Loyalty & Confidence: Responsive and value adding. Delivery orientated and completes initiatives.
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.