CIB Operations - IB Risk Operations CPG / DD Middle Office - Associate - London

Job description

Department Description Credit Portfolio Group (CPG) is one of the key sub-groups within IB Risk and is mandated to actively manage the Investment Bank"s retained credit exposures resulting from traditional lending and derivatives activities. Specifically, CPG is responsible for developing and executing strategies with the primary goals of reducing credit risk concentration and losses from credit events, as well as aiming to increase the capacity for future business. One element of these responsibilities is to manage the market risk of derivatives counterparty exposure. This entails risk position analysis for a number of separate markets and executing a coherent strategy across them. Differential Discounting (DD) allows JPM trading infrastructure to price and risk manage financing costs in a manner that is consistent with various funding treatments specified by JPM's counterparty specific collateral arrangement. This major initiative went live November 2011. The DD (formerly DCU, Differential Discounting Utility) function was created as a result of this program and as part of CPG provides risk management for the C&IB along with CIO & Treasury. It also provides CSA spreads and CSA related trade to discount curve mappings. The EMEA CPG/DD Middle Office is continuing to evolve and build out as the Strategic Program is delivering new business onboardings, methodology enhancements, control and infrastructure upgrades, including: ·Build out of “FVA”, a next phase of funding value adjustment to the IBs transactions ·New Business onboarding & New differential discounting curves (including floored CSA Curves) ·Enhancement of the Risk and PnL architecture supporting the DD model ·Enhancement of the CSA Risk analysis toolset and bank-wide remapping process ·Middle office support control remediation and development ·New products to hedge the CIB's risk Job Responsibilities ·Manage the production of CSA discount curve mappings for each Line Of Business including: ·Daily process to translate CSA information into Discount curves and FCFs. ·Key controls over changes in CSA data, curve overrides ·Scenario analysis and investigations. ·Run cross line of business remapping events, collating Risk and MTM impacts ·Manage the trade flow of Rates products for the DD Trading desk, to support their hedging activities and ·Support the CPG Trading desk across multiple products and risk management systems. ·Rates, Credit, FX, F&O, Commodities, Equity and Loans ·Satellite MO oversight, central controls and reporting ·Reconcile, intra and end of day trade activity between front office and official risk management system including risk, PnL and trade parameters ·Support the end of day close for Kapital, including key controls, trade tie outs, and starting the overnight batch processes ·Start of day controls for risk, including resolution of business queries with regards to delivered risk ·Feed monitoring, chasing technology resolution for the huge number of risk feeds from LOBs into our core risk management tools of Orion and the front office RM Toolset ·Support CSA Market data controls and publication ·Ad-hoc risk scenario work to help the business understand complex delivered risks ·Business management / regulatory controls metrics reporting ·Management and support of Global Clearing and Compressions exercises ·Managing Rates market data capture and EOD processing ·High level of related project work (e.g. migrations etc) ·Continuous focus on further improving levels of sophistication of process workflows, analysis, and risk reporting

Desired profile

Essential ·Significant experience in financial services ·Previous derivatives middle office or product control experience with a solid knowledge of P&L and risk concepts ·Understanding of financial terminology and traded products. ·Works well with others and is a good team player ·Able to build relationships and influence others including technology and other business partners ·Good communication and relationship management skills and demonstrated ability to influence key business partners at all levels ·Strong organizational and time management skills to multi task and prioritize items. ·Strong technical knowledge and logical mindset in technology, product and process ·Good understanding of IR/CR Derivatives, Collateral Management including understanding CSA documents and the impact of using different discount curves to price trades ·Ability to work under pressure and to fixed deadlines. ·Ability to resolve issues through conducting research and persistent follow up. The successful applicant will be part of the middle office team delivering on a number of different functions. They will also be critical to the daily control process and supporting the build out of the DD/ CPG middle office functions. The role offers great, broad build out of individuals skillset in a number of areas in an exciting, new part of investment banking. About J.P. Morgan Corporate & Investment Bank J.P. Morgan's Corporate & Investment Bank (CIB) 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. About J.P. Morgan Chase & Co. J.P. Morgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. 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, J.P. Morgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about J.P. Morgan Chase & Co. is available at www.jpmorganchase.com . JPMorgan offers an exceptional benefits program and a highly competitive compensation package. JPMorgan is an Equal Opportunity Employer. The hiring manager for this job opening would be willing to have a conversation about flexibility. This could range from ad hoc flexibility in a full time position, to a more formal Flexible Work Arrangement. The hiring manager is not committing to offering this, just highlighting an openness to having the conversation.