CIB Operations (Derivatives Ops) - F&O Margin Control Analyst - Chicago - Analyst

Job Description

J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries.

Derivative Operations provides operational support across the CIB covering eight key product areas including FX, OTC Derivatives, Collateral Principal, 3rd Party Derivatives, Cleared Derivatives, Agency Collateral, Billing and CASS with ~1,900 employees. Services provided to our Businesses include:

• Transaction Processing, Confirmation, Settlement and Clearing, Collateral Management, Client Service, Invoicing and CASS Support
• Typical daily activity includes settling in excess of $217B via FX trading, leading a Markets OTC portfolio of 2.5M trades, servicing >200 3rd party clients, performing 10,000 margin calls, processing 470k cleared and intermediated trades and producing >9,000 invoices

Global Clearing Operations supports Clearing, Reconciliations, Middle Office, F&O House Ops, Expiries & Deliveries, Settlement, Brokerage, Client On-boarding, Client Money, Regulatory Reporting, Static Data Management and Position Management.

• JPM is the 2nd largest Futures Commission Merchant based on Client Assets
• Processes ~750,000 cleared and intermediated trades daily
• Provides clearing at 62 global Clearing Houses

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

Location Description

Chicago . We’ve been in Chicago since 1863, and we’re one of the largest employers in the city. In 2013, we celebrated 150 years of our relationship with the city of Chicago. In the summer of 1863, JPMorgan Chase & Co. predecessor, The First National Bank of Chicago, opened its doors as the first "national" bank to serve the city of Chicago. We love this laid-back city that offers an intense array of cuisine, sports and architecture. See what we – and Chicago – have to offer. We have more than 16,000 employees in the Chicago area, including more than 500 veterans hired since 2011. Our employees devoted over 15,000 hours to charity in 2014 alone. Come join a team that gives its all, in and out of work.

Job Description

The Americas F&O Margin Controls team provides operational control and oversight of all margin-related functions for J.P. Morgan’s extensive external client base which includes Banks, Hedge Funds, Pension Funds, Insurance Companies, Asset Managers, Commodity Trading Advisors, Corporates, Utility Companies, Oil Companies & Food Companies. Partnering closely with Front Office and Operations, the group ensures that the highest of standards are met for the service delivered to clients.

Americas F&O Margin Controls at J.P. Morgan was created in 2017 so that all non-client facing margin controls and regulatory functions are supported within a separate team to the individuals that directly manage the clients.

Americas F&O Margin Controls requires a motivated proactive problem solver with the desire and ability to continuously learn and develop.

Summary of Responsibilities

• Review margin proofs and approve margin settlements (Cash & Securities) per CFTC/JAC rules
• Monitor Margin related controls to ensure risk & regulatory compliance
• Manage MIS production / management & regulatory reporting (e.g. Aged Margin Calls, Capital Charges)
• Investigate and resolve Bank vs. GL breaks (i.e. Nostros)
• Track and investigate margin account discrepancies and exceptions
• Monitor Developments to the Regulatory Framework in the Derivatives Industry
• Support Internal / External Audits
• Improve processes
• Help develop analytics covering client behavior, margin balances, exceptions and revenue data
• Support strategic control and transformation agenda
• Project Work

Skills and Qualifications

• General F&O/Cleared Swaps industry knowledge (ideally at least 2 years experience)
• Working knowledge of cleared derivatives (Futures & Cleared swaps) life cycle and mechanics of margin settlement
• Proven skills for ensuring a highly controlled environment is adhered to at all times
• Ownership mentality
• Excellent interpersonal skills and ability to communicate across organizations and seniority levels
• Ability to identify process improvements that drive capacity gain, efficiency and control
• Ability to work accurately and effectively under pressure
• Strong time management skills required to meet critical deadlines and prioritize
• Strong PC & Industry application skills (e.g. GMI, Microsoft Office,)
• Experience with data visualization and analytics applications (Tableau, Qlik, etc) preferred
• Experience designing workflow automation (e.g., Alteryx, Xceptor) preferred

Would suit someone looking for a flexible working opportunity