CIB F&BM - Prime Brokerage Product Controller - Analyst - London

Job description

General Summary

The Firm's Securities Prime Brokerage and Financing business (the “business”) is part of the Corporate and Investment Bank's Investor Services business. The business offers flexible financing to clients in either physical form or through synthetic products and with its ability to borrow and lend securities (stock loan) also allows clients to create short exposure. JP Morgan offers a flexible global solution to its clients. The business offers a range of products to its clients including; clearance and settlement of securities (both equity and fixed income), margin financing and securities lending.
The EMEA Securities Prime Brokerage and Financing Product Control Team (the “team”), within the Global Investor Services Product Control team of IB Finance & Business Management, is primarily responsible for the independent production, review and approval of the daily P&L ensuring the accuracy and completeness of business revenues. Other responsibilities include supporting the business on the wider financial aspects of their activities such as balance sheet and capital, advising on accounting, regulatory and booking issues, participation in the new business approval process and overall signoff of the business unit financial statements including regulatory returns.

The Synthetics business within Investor Services Financing is of ever increasing important with the client balances expected to grow significantly throughout 2016. With this comes increasing importance of system capabilities and enhanced controls.

The successful candidate will join an established team of 12 reporting to a VP in the Synthetics Product Control team.

Role description

·  Daily T+1 P&L reconciliation and substantiation for Synthetics, identifying and resolving issues resulting in P&L breaks between the estimates and the actuals.
·  Ensuring daily P&L attribution is in compliance with the P&L and Risk minimum standards.
·  Working with Front Office to understand key P&L drivers and market movements to aid meaningful revenue commentary on a weekly and monthly basis for both Synthetics and Cash PB.
·  Supporting Cash PB P&L when cover is required.
·  Supporting the monthly requirement for Minimum Standards PC Scorecard production (globally and regionally)
·  Owning and supporting the month end financial close for both Synthetics and Cash PB.
·  Regular interaction with FO and various Ops and Tech groups that support the business.
·  Reviewing current processes, identifying control weaknesses and delivering solutions to enhance the current control environment, as well as the effectiveness of the processes performed.
·  Owning process improvements and projects working with various stakeholder groups to improve the control environment and aid delivery of departmental objectives (eg Adjustments, looking at root cause and working with RAD for systemic enhancements)
·  Owning and supporting other daily/ weekly and monthly BAUs
·  Participate in various forums (PC team meetings, FO weekly revenue review and L&L)

Desired profile

Key qualities for successful candidate
·  Effective team player, self starter and quick learner
·  Strong analytical skills and high attention to detail
·  Ability to multi-task with flexible working style
·  Demonstrate interest in Finance required
·  Accounting / numeracy based degree