CIB Operations (Derivatives Ops) - Collateral Client Services Representative (Japan Market)- Associate
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com .
J.P. Morgan is a place for talented people from all backgrounds and perspectives because our clients come from all backgrounds and perspectives. We encourage a culture of inclusion, where everyone's opinion counts and all employees have the freedom to deliver their absolute best. This is why we work hard and invest in attracting and developing a diverse workforce. Learn more about our Business Resource Groups in how they help our employees build successful careers and reach their greatest potential. Job Description Derivatives Operations
provide operational support to Markets, Investor Services and Banking businesses across the CIB. Key product areas include Currencies, OTC Derivatives, Collateral Principal, Global Clearing, and Trading Cost Management with a global team of ~1400 colleagues. Services provided to our Businesses include:
• Transaction Processing, Confirmation, Settlement and Clearing, Collateral Management, Client Service, Trade Cost Management
• Typical daily activity includes settling in excess of $2TRN via FX trades, leading a Markets OTC portfolio of 3M trades, managing collateral balances in excess of $350BN and processing ~700K cleared and intermediary trades Collateral Principal Operations
• Collateral Management credit risk mitigation, client financing and fee based activity
• Collateral Services supports a wide range of products: Derivatives, Forex, TBA, OTC Cleared, Prime Brokerage, Repos and Loans
• Daily we generate and distribute margin calls; agree call amounts and collateral types; track and report call disputes, reconcile trading portfolios, monitor settlements and provide extensive regulatory reporting
• On average we issue and settle ~4,000 collateral calls per day
• Collateral balances held by JPM and pledged to the client range between $200Bn & $300Bn notional Asia Collateral Middle Office
(Collateral Singapore) is primarily responsible for:
• Facing internal and external clients, to involve resolving relationship issues and significant client matters on behalf of the business.
• Facing Japanese clients, both internally and externally - hence language skills are preferable
• Issuance, receipt and monitoring of margin calls in accordance with the terms of the collateral agreements for OTC Derivatives, Loans.
• Resolution, control and escalation of collateral disputes and fails to senior management and credit risk teams.
• Recording, reconciliation and control of cash or securities received/posted as collateral.
• Management of a portfolio of clients, providing consultation and expert advice.
• Collateral management on principal trades facing clearing house.
• Acting as collateral broker for OTC listed clients. Summary of Responsibilities
• High level of customer interaction.
• Generating collateral statements and sending calls to clients for both standard and non-standard agreements. Timely follow up of all calls made by JPMorgan.
• Answering of incoming collateral calls sent by clients comparing them to JP Morgan's exposure.
• Agreeing on the amount and type of collateral to be moved.
• Follow up on any counterparty fails.
• Reconciliation and dispute resolution with regards to large disputes or credit sensitive customers.
• Agreement of coupons due on securities held as collateral.
• Month end tasks including computation and agreement of interest on any cash collateral held/delivered.
• Timely resolution of incoming queries regarding a client's portfolio. Escalation of issues.
• Margin related cash settlements
• Margin related security settlements Skills and Qualifications
• Previous external client services experience, or similar experience interacting with senior/demanding internal clients
• Japanese language skills are desirable
• Working knowledge of OTC Derivative products or similar background.
• Proven experience of effective relationship building with a wide variety of stakeholders, for example; Clients, Credit Execs and Business Partners.
• Must be attentive and responsive to client needs.
• High level of accuracy and attention to detail is required.
• Ability to work with minimal supervision.
• Ability to Work in a methodical and organized manner and to follow procedures.
• Excellent client communication skills and telephone manner and a strong ability to build client relationships
• Must be highly numerate with good keyboard and core system (Outlook, Excel, Word) skills.
• Ability to work as part of a team and be flexible during busy periods such as month end.
• Ability to prioritize workflow and work to strict deadlines agreed in legal documentation.
• Strong Risk and Control Awareness - with the ability to push back on stakeholders when risk/controls could be compromised.
• Strong oral and written communication skills.
• Good people management skills with the potential to develop leadership skills by influencing and motivating others.
• Strategic thinker, able to review and implement process improvements.
Could suit someone looking for a flexible working opportunity.
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.