CIB F&BM – Fixed Income Financing P&L and Risk Product Control Associate London
The Fixed Income Financing (FIF) Product Control team is responsible for supporting the EMEA FIF business. The business acts as a market maker, providing secured financing or collateral to ~1000 clients across a diverse client base including Banks, Broker/ Dealers, Hedge Funds, Asset Managers, etc. The desk also provides a critical internal utility function in managing funding and liquidity by funding long and short positions for IB Fixed Income desks. Globally, the business is the #1 player with a product offering including sovereigns, corporates, MBS’s, structured financings (>1 yr), and emerging markets financing.
This is a role in the Product Control (PC) team suitable for a candidate looking for a platform to learn about a business in depth and work closely with the business to provide a strong control environment. The right candidate is keen to learn and take ownership of processes in a role which will provide growth further their career, as well as provide a broad range of skills and opportunity to learn about both P&L and Balance Sheet if they are interested. The role involves both daily BAU as well as managing projects.
· Production of daily T+1 P&L and P&L sign-off, including substantiation through comparison to trader predicts, current risk and market moves.
· Analytical review of the P&L to explain drivers of the P&L movement and understand P&L explain categories.
· Ensure that the team is in compliance with the P&L and Risk minimum standards, and support projects to improve and enhance the control environment.
· Reporting daily Risk and obtaining sign-off via the Risk Aggregator. Support projects on risk reporting and risk calculation for the desk, working closely with FO, MR Coverage, QR and MR Tech.
· Reconciling and owning inputs to the Value-at-Risk (VaR) calculations of the firm, supporting the on-boarding of this process on to a strategic system platform.
· Provide ad hoc reports driven by Front Office, Market Risk and Business Management
· Support the Month End Reporting responsibilities of the team, such as liaising with Financial Control to review any differences between the P&L Aggregator and the GL, review of reserve adjustments, analysis of IBT and other month end charges.
· Review the key control metrics and monitor the current control issues ensuring they are effectively escalated and mitigated.
· Pro-actively identify the control risks and manage the subsequent project plans to achieve resolution.
· Ensure the integrity of the business financial results are maintained under US and local regulatory requirements
Qualifications and Experience Required:
Strong numerate background and attention to detail
Two to three years of banking experience, preferably in the product control role
Good financial product knowledge, preferably fixed income products.
Ability to work effectively & meet challenging deadlines and be able to work under pressure
Analytical and quantitative aptitude. Ability to identify and solve problem.
Team player with ability in managing daily processes and interacting with the business
Strong interpersonal skills and good communication skills
Strong technical skills (Advanced Excel, Access an advantage)
Proactive and willing to accept responsibility
About J.P. Morgan’s Corporate & Investment Bank:
J.P. Morgan’s Corporate & Investment Bank 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 and extends liquidity in markets around the world. Further information about J.P. Morgan is available atwww.jpmorgan.com .
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.