Corporate Risk - Credit Risk Middle Office - Clearing Credit Risk Support – Associate

Job description

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan 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 JPMorgan Chase & Co. is available at www.jpmorganchase.com .

Corporate & Investment Bank (CIB) Credit Risk Management is responsible for lending activities and related credit exposures. The group is organized by geography with teams aligned by industry and process. CIB Credit Risk Managers lead the client credit relationship in partnership with CIB Coverage.

Credit Risk Middle Office (CRMO) continues its expansion to broader Wholesale Risk Support including Country, Treasury Services (TS), Worldwide Securities Services (WSS)and Market Risk. CRMO supports the CIB credit approval and decision making processes for the North America Credit Executives in the Risk Organization.

This role is to support Credit Risk activities specific to Futures & Options (F&O) and Over the Counter (OTC) Clearing Risk, and Stress Credit exposures of Derivative activities. It provides a variety of opportunities to mitigate key risks. This is fast pace working environment. This role demands dedication and fast learning ability.The role includes manages a core small team of Credit Risk support professionals

Job Responsibilities:

CRM Middle Office provides support and acts as a control function covering the following areas.

· Stress Credit Exposure – monitoring daily breaches, identifying data quality, partnering with Technology to drive the change agenda

· Future & Options Limits Management

o Provide rules-based approval to contract limits to external clearing clients

· Intraday active trading client monitoring

o Take on primary responsibility for limit breaches. Monitoring any Net Open Position (NOP) or other limit breaches on Risk Informer during the day

o Liaise with CSRs (Client Service Reps)

o Trade population reconciliations in partnership with the business

o Responsible for confirming collateral requirement for intraday clients to the collateral team

· Margin enquiries

o Investigate client margin disputes for Portfolio & Risk Margining System (PRMS) clients

o Provide appropriate Overrides

· Daily Margin error checking

· Data Maintenance

o Ensure correct Pricing of Trades

o Maintenance of risk attributes and reference data across products

o Determine the root cause for trades/positions falling out of risk and / or margin calculations

o Product categorization in GMI system for new contracts

o Mapping new contracts to the relevant Risk Metrics curves, or establishes a proxy mapping, into PRMS database. Risk Informer Instrument Mappings

o Mitigate any other exceptions from PRMS where relevant

· Quality Assurance and Control Checks for manual high risk processes

· Concentration Risk management

Skills:

· Bloomberg terminal knowledge

· Product / Business knowledge (F&O and OTC Derivatives and/or Prime Brokerage)

· Partnership

· Time management

· Influencing

Desired profile

· 2-5 years derivative/clearing and or F&O industry/markets knowledge

· Operational/client experience focus

· Related product experience is preferable

· Pro-active/self-starter.

· Ability to deliver value in a timely and accurate manner

· Proficient in Microsoft Office applications, strong Excel experience required

· Team player

· Detail focused

· Problem solving

· Leadership qualities

· Some knowledge and appreciation for Credit/Market Risk

· Experience managing staff is preferable