Derivatives Processing Manager','180080335','!*!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, performs fund services for institutional clients and extends liquidity in markets around the world
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
Third Party Derivatives Processing (3PDP) supports four main OTC derivatives services:
NAV Support – instruction capture and processing client provided valuations / cash flows; reconciliation to the fund manager
Independent Valuations – instruction capture, generate in-house/ source TPV valuations and cash flows; reconcile to the fund manager/ counterparties; standard reporting
Middle Office – same service as Independent Valuations plus confirmation/ settlement management
Asset Verification – As a utility to T&F, produce Independent Asset Verification of OTC/FFX & CFD trades
The individual will work within the Boston 3PDP Team and have responsibility for the delivery of these services to a number of clients.
To provide support for Derivatives traded by institutional clients, asset managers, hedge funds and insurance companies who have outsourced part or all of their operations to J.P. Morgan. Client scope includes all existing relationships globally. In addition the Utility supports other groups within the business in respect of derivative activity.
Summary of Responsibilities
Responsible for the daily management of a client’s trading activity including reviewing reconciliation breaks on Position, Market price, Income, Cash, Financing and Valuation
Dealing with all client and broker queries related to daily trade activity.
Responsible for any OTC related investigation, amendments and delivery sign-off to Fund Accounting and Client
Responsible for the derivative services OTC Reconciliation process for clients delivered from the Boston location.
To accurately and efficiently reconcile against all core controls for all relevant OTC deliveries','!*!Skills and Qualifications
Bachelor degree or equivalent work experience (3-5 yrs).
Strong technical skills including accounting principles and theories
Knowledge of 40 ACTs Fund Accounting, Financial Reporting and Tax Operations
Ability to be effective in a global operating environment and a matrix management organizations
Ability to build and maintain effective working relationships with clients and counterparties
Quick learner both technical knowledge and systems
Results orientated; ability to create and sustain a target driven environment
Self-motivated with a flexible approach to working hours ','','Operations','US-MA-Boston-451 D Street / 51304','','CORPORATE & INVESTMENT BANK','Full-time','Standard','Day Job','','J.P. Morgan','J.P. Morgan','','','Derivatives Processing Manager