CIB Operations - Exotics Middle Office Bookrunner - Associate– London

Job description

EMEA INTEREST RATES FLOW - BOOKRUNNER
A Middle Office Bookrunner role in the Investment Bank providing first-line support for a variety of businesses across a range of Trading desks such as Interest Rate Options, Inflation & Hybrids. Our Operations employees act as a key point of contact for a variety of downstream groups and control functions. The role involves working with our vanilla and complex derivative products from a risk, PnL and trade management perspective across all asset classes.

Interest Rate Middle Office Bookrunner – Responsibilities:
The successful candidate will provide first-line support for the trading business and acts as a key point of contact for numerous downstream groups. He/She must ensure the accurate capture of the business’ transactions, systematically managing product complexity, report on the subsequent risks resulting from these transactions, and present attributed PnL reports to the Front Office.

The responsibilities of the successful candidate can be summarized under three main areas – Trade Management, Risk Management and ongoing Project Development. The generic responsibilities for which are described below:

Responsibilities - Trade Management
·Act as the primary control over the accurate capture of the business’ transactions in the Risk Management System
·Verify new transactions executed throughout the day against Termsheet, Sales Recap and Broker Confirmations
·Ensure compliance with Regulatory standards such as Dodd Frank Reporting, EMIR, EBC Pre-Trade Disclosures, Clearing, Volcker Reporting and Legal Entity push-out programs
·Monitor and manage trade events throughout the lifecycle of the transactions, e.g. option exercises, knock ins/knock outs, rate fixings, TARNs and barriers
·Review legal confirmation documentation for accuracy vs. the Risk Management System booking
·Liaise with Marketing support, downstream settlement, collateral, finance, and other Back Office control groups
·The Rates Trading Asset Class is involved in a multi-year project to migrate to new risk management tooling which requires a great deal of operational involvement to help build efficient and sustainable processes

Responsibilities – Risk Management
·Produce and validate T0 P&L, 1st Order and Higher Order Risk positions for the Front Office
·Investigate and resolve P&L and Risk queries from Front Office
·Create and run ad-hoc risk scenarios for Front Office which can involve producing impact of model parameter remarking, analytics, hypothetical market situations such as ‘what if’ and ‘worst case’ etc
·Produce risk exposure reports for use by Valuation Control Group (VCG), Market Risk, Quantitative Research
(QR) and Model Governance Group (MGG)
·Assist Quantitative Research and Front Office with their initiatives for model improvements and model upgrades via testing and impact analysis
 
Responsibilities – Project Development
Each trading desk has a dedicated Bookrunner team who are required to develop an intensive understanding of the desk’s business and transactions and provide the above support. We are looking for candidates to join the Bookrunner teams who display drive and enthusiasm, who are highly numerate, work well as part of a team and have strong
communication skills.
Some specific skills that we would be looking for candidates to possess include:
·Product knowledge – Understanding of vanilla and complex derivative products
·Vanilla Products: Bonds, FXOptions, FXForwards, IR Swaptions, IR Swaps, XCCY Swaps, Equity Options, Inflation Swaps and Asset Swaps
·Complex Products: Power Range Dual Currency Swaps/Notes (PRDC) is our main product, digitals, range accruals, binaries, barriers, KOs/KIs, TARNs, Chooser s, Callable Inverse Floaters, Yield Curve Spread Options (YCSOs), Quantos and Structured Note Issuance
·Risk - Understanding of the greeks such as Delta, Vega, Gamma, Theta and Cross-Gamma
·PnL - Understanding of trading PnL and key drivers from both a first order and higher order perspective
·Understanding of risk types – Market, operational, settlement, credit, legal and reputational
·Systems skills – Understanding of risk management and reporting systems, straight through processing, Excel/Access
·Problem solving – Developing and implementing solutions to often complex issues
·Control –Understanding and implementing the control framework to mitigate risk through the transaction lifecycle
·Projects - Assisting in the delivery of tactical and strategic solutions
·Networking and the bank-wide perspective – Understanding the needs of other groups and the importance of relationship building through extensive interaction.
 
J.P. Morgan offers an exceptional benefits program and a highly competitive compensation package. J.P. Morgan is an Equal Opportunity Employer.

Closing date- 7 th September 2018