CIB DPS Ops - OTC Derivatives - Operations Analyst

Job Description

J.P. Morgan is a leading global financial services firm, established over 200 years ago: o We are the leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. o We have assets of $2.5 trillion and operations worldwide o We operate in more than 100 markets. o We have more than 243,000 employees globally. Our wholesale businesses include J.P. Morgan’s Asset Management, Commercial Banking and the Corporate & Investment Bank which provide products and services to corporations, governments, municipalities, non-profits, institutions, financial intermediaries and high-net worth individuals and families. Our corporate functions support the entire organization and include the following functions: Accounting, Audit, Finance, Human Resources, Operations, and Technology. J.P. Morgan in India provides a comprehensive range of Corporate & Investment Banking, Commercial Banking, Asset & Wealth Management, and Corporate functions services and solutions to our clients, executing some of the most important financial transactions and providing essential strategic advice to our clients such as the government, large domestic and multi-national corporations, non-government organizations and financial institutions and investors. India is a key market for JPMorgan Chase globally and our employees in India are a critical part of how we do business globally and are integrated within our businesses. Our Global Service Centers (GSCs) are strategically positioned in Mumbai, Bangalore and Hyderabad to support the firm’s operations regionally and globally. The centers provide comprehensive strategic support across technology and business operations processing to all lines of business and the corporate functions. The Commission Management team is responsible for looking after commission agreements that allows investment managers to separately pay the broker for trade execution and ask that the remaining commission be allocated to a client account, where the investment manager would accrue CSA credits and use them to pay eligible research/brokerage providers. The team is recruiting an associate/analyst who will have wide-ranging responsibilities in performing this role, ranging from daily control functions, trade break investigations and reconciliations, vendor documentation, legal documentation, tax governance to accommodating ad hoc tasks from the trading desk and the other operational teams with whom we partner. The role also involves building good working relationship with regional partners in the US, Asia and EMEA. The position is based in Mumbai L&T Office. Responsibilities Responsibilities include daily control functions, trade break investigations, client statements, vendor documentation and invoices, legal documentation, and tax governance.

• Onboard new clients into the CMS systems and ensure agreement details such as products, markets, rates and splits are uploaded accurately.
• Request vendor tax documents like Participation Letters and Tax forms to ensure compliance with FATCA.
• Maintain and ensure changes to existing client agreements in terms of products, markets, rate splits and marking are implemented within set timelines
• Carry out monthly reconciliations with good understanding of client requirements and P&L impact
• Generate client statements/trade files, communicate any issues to clients and confirm monthly balances within client deadlines
• Ensure all retention and outbound payments for research services provided by JPMorgan are received and posted to P&L under appropriate regions
• Process research payments on behalf of the clients.
• Perform cash call-back where required, obtain documentation and upload these payment details onto the relevant systems, Also set up the payment details into the system to make payment to vendors by interpreting the wiring details
• Review services listed on invoices to ensure they comply with Cobs 11.6 FCA rules (Section 28 E) and refer to Compliance for approval where required
• Participate in CMS projects to keep track with client, market and business requirements
• Produce monthly MIS and work on opportunities to increase efficiency and STP
• Need to Interact with various client services team to ensure quick turn around time and accuracy of payments and also gives opportunity to know more about the business and client expectations.

Qualifications / Skills

We are looking for candidates with the following characteristics:

• Previous experience in the operations role, ideally with some past exposure to Equity products
• Good balance between analytical skills and interpersonal skills
• Methodical approach to work with the ability to multi-task and prioritise workload
• Exceptional attention to detail
• Good communication skills in all media with ability to develop relationships across the various stakeholders who may be in other regions
• A self motivated individual who is able to deliver with minimal supervision, whilst also working effectively as part of a team
• The ability to work under pressure
• Experience in Microsoft Excel