J.P. Morgan is a leader in financial services, working in collaboration across the globe to deliver the best solutions and advice to meet our clients' needs, anywhere in the world. We operate in 150 countries, and hold leadership positions across our businesses. We have an exceptional team of employees who work hard to do the right thing for our clients and the firm, every day. This is why we are one of the most respected financial institutions in the world - and why we can offer you an outstanding career.
J.P. Morgan’s Global Depositary Services business is a market leader providing trustee and depositary services with in excess of $1.8 trillion of assets for 150 clients across 13 European locations.
This position is an opportunity for a suitable candidate to join the Depositary Support Group, supporting Depositary services across 13 locations. The successful candidate will gain exposure to all areas of the funds’ industry including regulatory, legal, compliance, accounting, transfer agency services, custody, collateral management, and risk management.
Working as part of a team (up to 10-15 in number)
· The team undertakes a number of activities related to fund set up, desktop monitoring and platform processes that facilitate the core Depositary oversight processes. These activities are undertaken in Bangalore & Bournemouth on behalf of 13 Depositary European locations.
· The team work to stringent deadlines; intra-day, end of day, weekly, monthly as determined by the function and the SLA in place with the European locations. Failure to meet deadlines or SLA requirements may result in reputational, financial or Regulatory sanction and consequently effective workflow management is crucial.
· Spreadsheet compilation, reconciliations and validation activities
· The UK oversight team is client focused and engages in timely and effective responses to client issues when related to activities they undertake including: a review of monthly cash and stock recs for all clients, daily review of cash recs, collection account recs, free trades and free stock, rehypo checks and overdraft monitoring. Review of Securities lending/repo checks for all clients
· The team provides SME assistance to the UK Depositary Team and supports them in their use of risk assessment data and other information used to manage their client relationships.
· Requirements are subject to ongoing change as new Regulatory and Client demands come on stream.
· The team has direct interaction with internal Clients (Trustees/Depositary’s) in order to both raise and resolve any escalations.
· The team is required to support Depositary teams in Client communications where they are the SME for the activity
Key Skills and Experience
· The jobholder will ideally (but not necessarily) have had experience of working within a highly Regulated environment and will have or acquire a working knowledge of the (FCA) Regulations as they apply to UCITS schemes and they will understand the application of controls together with the ability to identify controls failures / gaps and make appropriate recommendations to remediate such gaps / failures.
· The jobholder will need to be flexible and able to deal with the ongoing changing needs of the Business in a positive way; they will be creative, decisive, a good communicator, organised and able to deliver timely, accurate, high quality work in challenging situations and with competing demands.
· The job holder will be required to have or acquire an understanding of Fund operating models, legal structures, control environment and governance arrangements.
· The jobholder will be highly organised, prioritising work flow to execute and deliver to agreed deadlines, and will be able to communicate effectively, both verbally and written
· Good interpersonal skills and the ability to influence people.
· Organised and structured approach to work.
· Good time management skills.
· Ability to work with minimal supervision.
· A team player with demonstrated initiative
· Risk and Control focussed.
This role encompasses the performance of UK regulated activity. The successful candidate will therefore be subject to meeting UK regulatory requirements in the assessment of fitness, propriety, knowledge and competence (as assessed by the Firm) and (where appropriate) approval by the UK Financial Conduct Authority and/or the Prudential Regulation Authority to carry out such activities.
About J.P. Morgan Chase & Co:
J.P. Morgan serves one of the largest client franchises in the world. Our clients include corporations, institutional investors, hedge funds, governments and affluent individuals in more than 100 countries. J.P. Morgan is part of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.1 trillion. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of clients and consumers under its JPMorgan and Chase, and WaMu brands.
J.P. Morgan offers an exceptional benefits program and a highly competitive compensation package. J.P. Morgan is an Equal Opportunity Employer