CIB Operations (Derivatives Ops) - Futures & Options House Clearing Operations – Professional - Bournemouth

Job description

CIB Operations - Derivatives Processing Centre - Futures & Options House Clearing Operations – Professional – Bournemouth

Description / Overview

Futures and Options (F&O) is the internal name of JP Morgan's global exchange traded futures and options brokerage business. F&O provides clients access to exchange traded listed derivatives globally.

The F&O House Operations team is part of the Investment Bank's Futures and Options operations business. The 'House' team specifically supports exchange traded business conducted through JPMorgan's lines of business (Rates, Equities, Commodities, GEM, etc). House Operations is currently based in 3 locations globally, with teams based in Singapore, Bangalore and Bournemouth. This global team provides critical support to C. 120 desks across all businesses, and supports around 80,000 trades daily, with Bournemouth focused primarily on the Commodities business alongside a small amount of Rates activity.

Overview of Role

As part of the DCO House EMEA team based in Bournemouth, the team, are responsible for reconciling traders' position and risk for exchange traded instruments in their risk management system versus the exchange. This is done through reconciling the entire structure from instrument setup, correct trade booking and daily position reconciliation as well as ensuring the profit and loss (P&L) for the risk system equals the P&L for the exchange. Break investigation and resolution is reached through liaison with middle offices, product controllers and technology teams.

Other core functions include daily margin and collateral funding and various clearing services such as commissions, new product onboarding, enhancement planning and UAT support.

The area is constantly evolving and scope is expanding to include increased operational support of cleared OTC derivatives in the next 12-18 months. Consequently, there are numerous opportunities for the right candidate to be involved in ad-hoc projects and the DCO House Strategic Agenda.

Key Responsibilities

· Ensure timely completion of Trade, Position and P&L reconciliations, with prompt delivery of reconciliation details to the relevant middle offices, Product controllers and brokers.
· Work closely with key stakeholders and supported Middle and Front offices to manage and coordinate all new product, entity, trading book and desk set ups.
· Execution of daily, weekly and monthly tasks covering: reconciliations, margin movements and control, global house metrics, oversight and impact monitoring of trade events including option expiries, physical deliveries and cascading instruments.
· Work closely with the Controls team to deliver on the controls agenda.
· Participate in monthly and quarterly systems release testing to enhance efficiency and control.
· Role will require minimum of 2 weeks late shift each month covering hours of 2.30pm-10.30pm. Other shifts include 7am-3pm and 9am-5pm

Desired profile

Skills Required

· Understanding of the Futures and Options products and/or cleared OTC derivative products would be beneficial.

· Commodities knowledge would be beneficial

· Detail oriented with excellent numerical/analytical skills

· Strong problem solving abilities

· Works well under pressure and has the ability to multi task

· Self starter, highly motivated and driven

· Team player who enjoys working in a fast paced, highly controlled environment and not afraid to commit and take on responsibility

· First-rate communication skills, both oral and written.