Treasury Services-Clearing House Settlement and CLS Nostro Services Product Manager, VP

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • JPMorgan.
  • 25 May 19

Treasury Services-Clearing House Settlement and CLS Nostro Services Product Manager, VP

Vice President, Clearing House Settlement and CLS Nostro Services


About Treasury Services


Treasury Services (TS) - the world's largest cash management provider - moves, concentrates and invests client money. TS products include payments, collections, trade finance, investments, and information services that help companies manage working capital and liquidity. The business, which operates in more than 40 countries, is the world's largest U.S. dollar clearer, processing an average of $3.2 trillion in fund transfers each day. More than 135,000 corporations, financial institutions, governments and municipalities in over 180 countries and territories entrust their cash business to J.P. Morgan.

The Team

Transaction Services Treasury Payments team is part of the Global Clearing product management team and is focused on managing and developing JPMorgan's Treasury products which include Treasury Payments, Clearinghouse Settlement, CLS USD Nostro Services as well as intraday liquidity, and Priority/Timed payments. The team strives to make JPMorgan the world's best Treasury Payments Bank while effectively managing the associated risks.

The Role

This position is for a USD Product Manager for Clearing House Settlement and CLS USD Nostro Services
The Clearing House Settlement Service supports J.P. Morgan's clients who are members of a clearinghouse or central counter party (CCP) in meeting their settlement obligations such as margin calls. Continuous Linked Settlement (CLS) is designed to eliminate settlement risk between FX counterparties and is operated by CLS Bank, an industry utility that is jointly owned by some of the largest banks/ FX exchange players. JPMorgan's CLS USD Nostro service supports some of JPM's largest USD clearing customers who are members in CLS Bank but do not self-clear U.S. dollars.
This individual interfaces with some of JP Morgan's most valuable clients, central counterparties (CCPs) and CLS Bank to ensure that these critical services are offered to clients while mitigating the risks associated with these products. The individual should have an inquiring aptitude to understand the key drivers of supporting the Treasury Payments business and to drive strategies to mitigate risk, enhance the P&L and create new business opportunities.

Knowledge of USD clearing, securities clearing, and FX settlement is a plus.

Key Responsibilities:

This individual will responsible for managing the Clearing House Settlement Service (CHSS) and the CLS USD Nostro Service.

This includes:

Client Requests

  • Supporting all clients discussions and providing RFP responses on CHSS and CLS product inquiries
  • Working closely with external clients and partners across LOBs: sales/service, implementation, tech & ops, risk, compliance, legal and other groups to ensure proper due diligence and review prior to presenting to stakeholders
  • Ensuring client-facing materials, agreements and internal job aids are accurate, up-to-date and position/protect appropriately
  • Identifying and implementing the technical and business requirements to support additional clearinghouses
  • Deepening relationships with clearinghouses, CCPs and CLS Bank to ensure information exchange and alignment with strategic
Portfolio Management:
  • Maintaining governance models for CHSS and CLS USD Nostro Service and drive ongoing reviews of clients
  • Off boarding clients not meeting criteria or dormant accounts to maintain a clean, risk-managed product portfolio
  • Work with Implementations to ensure set-up/ off boarding completed properly
  • Spearheading annual diligence reviews with CCPs
  • Monitoring CLS USD Nostro SIPs on a monthly basis, continue to identify opportunities to reduce cost
  • CHSS and CLS USD Nostro global pricing and cost review for consistent approach to ensure firm-wide relationships are priced appropriately.
  • Reviewing and approving billing of CLS Nostro clients
  • Developing and monitoring product performance metrics
Risk and Controls
  • Driving risk and control agenda to improve controls for time sensitive payment flows including escalation and contingency models
  • Working with clearinghouses and CLS Bank as needed to support industry initiatives

Key Skills / Experience Required

Thesuccessful candidate for the role will ideally have strong communication skills,an attention to detail, a strong risk and control orientation and the abilityto transform this knowledge and expertise into business results.

Technical

Competentunderstanding and/or previous experience in relation to one or more of thefollowing products:

  • ClearinghouseSettlement
  • CLS
  • Securitiesservices including custody, transfer agency and other funds services
  • Strategy
  • High Value(wire) transfers, Fedwire, SWIFT

Functional

  • Workingknowledge of the Treasury Services Operations, Technology, and Service modelwould be an advantage
  • Developmentand documentation of all procedures, documentation, SLA's, client-facingmaterials and legal agreements
  • Development of ongoing executive management communications
  • Risk management and control remediation

Professional

Advancedproficiency is required as a minimum requirement for the following:

  • Self-motivatedand driven to achieve targets and deliverables
  • Relationshipbuilding and influencing skills
  • Communicationskills - able to articulate / apply interpretation of metrics or businessrequirements across multiple business functions and at differing managementlevels
  • Organisationalskills and time management
  • Presentationskills - written, visual, and verbal
  • Leadershipskills - able to bring multi-functional groups together to work towards acommon goal